Hurricane Ian impact on Lemonade loss ratio ‘minimal’
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Hurricane Ian impact on Lemonade loss ratio ‘minimal’

Lemonade logo driving car.jpg

Lemonade management has said that Ian’s impact on its loss ratio was “fairly minimal” – with the company only paying out $3mn in claims to date – while impacts of the Metromile deal and of inflation on its book of business ultimately drove the metric to higher levels.

CFO Tim Bixby said: “Florida, in aggregate, represents less than 1% of our business, so we're relatively unexposed there, and it's essentially a renter's book.

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