The Effect of inflation on Losses and Premiums for Property-Liability Insurers [Review]

I have found the paper well written, technically sound, and very logical. On the other hand, the various conclusions appear to be at variance with what is commonly accepted as truth in the property and casualty insurance industry. The reader is left with a strong impression that inflation exerts a benign, if not actually beneficial effect on the industry. The usual approach in such a controversial case is for the reviewer to state that the model is too simplistic and proceed to complicate it to the nth degree so that no conclusion could ever be drawn. This reviewer does not like complicated models, consequently, he will refrain from using this approach.