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California posted a 47% jump YoY, from a 28.4% rise in June. -
The model becomes the second in the state to get approval to affect ratemaking applications.
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Roughly half a year since the LA fires, brokers said there’s hope things are turning around.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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New business written premiums were up in the commercial and E&S segments, but decreased in personal lines.
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The company adjusts its rate options to expand California business under the new cat model.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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The automaker’s insurance arm wrote over $300mn in premium last year.
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Litigation seeks to block insurers from passing assessment costs to consumers.
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The insurer denies it is responsible for the actor’s legal fees.
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The class can collectively challenge State Farm’s property claims calculations.
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But June was the busiest month of the year on the back of recent broker churn.
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