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Persistent social inflation challenges evident across key long-tail lines at half-year mark. -
High H1 reserve releases of $7.4bn were driven by the largest of carriers.
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The other liability loss ratio continued to rise as workers’ comp and commercial auto reversed course.
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Despite mild headline CPI, some insurance-related items are heading in a worrying direction.
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Commercial auto saw the largest rate change, which was down about a half point by the end of July to 7.96%.
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Appointments include leadership in transportation, energy, marine and others.
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Auto, umbrella and excess lines recorded mid-double-digit rate increases in Q2.
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The company also purchased $15mn of SCS parametric coverage.
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The pace of increases ticked down in the second quarter compared to Q1.
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The regional insurer has increased its weighting to OLO and commercial auto, versus comp.
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Morgan Stanley first invested in Cover Whale in May 2024 with structured debt.
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The executive said the claims industry is going to “be transformed”.
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