P&C underwriting expenses rose 3.8% during 2020: AM Best
Underwriting expenses across the property and casualty insurance market rose by 3.8% during 2020, according to a preliminary analysis of the fiscal year by AM Best.
The ratings agency said the rise came as some carriers, including Progressive, recorded policyholder credits issued as a result of Covid-19 as underwriting expenses instead of a reduction in premiums written.
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