Allstate

A challenging legal atmosphere and drift in loss cost components add difficulty to the task of tallying ultimate losses.

If current forecasts prove accurate, this will be a pivotal moment for the already off-balance Florida cohort and could result in a new market landscape.

Claims analysis shows slow reactions to negative trends can affect several quarters, but carriers who emerge strong will be able to pursue growth faster than the competitors who are always playing catchup on loss cost trends.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Last month’s rates implementation marked an acceleration from the 8.9% hikes announced in July, which resulted in overall premium impact of 1%.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Market sources are suggesting inflation could require a wider group of US cedants to buy $10bn-$20bn of additional cat coverage for 2023.

Rizzo will take over on September 1. Jess Merten will also assume his role as CFO effective September 1.

Allstate CFO Mario Rizzo vowed to continue pushing through auto rate increases.

The personal lines insurer’s results were also impacted by the states’ regulatory climates and inflationary trends.

Inside P&C’s news team runs you through the key highlights of the week.

The executive was speaking during the company’s Q2 2022 earnings call, after it reported a 107.9% headline combined ratio for the period, marking a 12.2-point deterioration YoY.