Kemper
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
The CEO added that the company has also established an offshore captive and is in the process of creating a reciprocal exchange.
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The company said longer term impacts of the pandemic, primarily significant prolonged inflation, have led to lower volumes of policies in force.
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A challenging legal atmosphere and drift in loss cost components add difficulty to the task of tallying ultimate losses.
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The ratings agency revised its outlook for the Chicago-based group to stable from negative.
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Rate actions during the quarter was better than expected, said CEO Joseph Lacher.
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The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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Insurers could face pressure if interest rate and recession fears intersect with worsening loss cost trends.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The compensation was approved with 27,589,199 votes but faced 23,492,314 votes against and 155,686 abstentions.
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Management highlighted inflationary pressures as a key driver in loss cost trends, as the company takes rate to improve the combined ratio.
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March’s CPI report shows elevated inflation levels, including vehicle CPI of 10.5% and average used car price increase of 24.7%.
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