Early in the pandemic, car manufacturers and other technological industries severely cut back on their computer chip orders, fearing a global recession. In response to these actions, semiconductor manufacturers reduced chip production, which has led to an increase in demand. We’ve all witnessed the effects this has had on the automotive industry, such as skyrocketing vehicle prices and vehicle shortages. This shortage, combined with the woes incurred by the global supply chain, is having an impact on insurance. Let’s review how the chip shortage and supply chain are affecting auto policies. [Read more…]