#24 - Recession: Lines of Business Affected, Increases in Insurance Fraud, & What (Re)Insurers Can Do During an Economic Downturn

This week’s episode is a slightly more technical one around a subject we keep hearing about: an impending recession. Jerad & Ben discuss the drivers of recession, how this impacts the world of insurance, what lines of business are most impacted, and what happens when insurance prices rise. To make things a little more cheerful, we’ve included a NSFW Claim of the Week! CONNECT & SUPPORT: Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/channel/UCuzfykcesD0phGaCK7qB09Q RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss OUTLINE & TIMESTAMPS: 00:00 Intro 01:35 What’s Driving the Possibility of Recession? 04:07 Inflation & Stagflation 08:32 Monetary Policy & Interest Rates 09:44 Reinsurance, the Non-Correlated Asset Class? 14:03 Increases in Insurance Fraud During Economic Recession 15:13 The Link Between Insurance, Insurers, & the Economy 19:43 What Happens When Insurance Prices Rise 21:01 What Should (Re)Insurers Do in a Recession? 22:36 Lines of Business Affected by an Economic Downturn 26:15 Claim of the Week 30:11 The Elasticity of Demand for Insurance