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Data tools could help the carrier boost profitability for the line, which has been under significant strain across the market. -
James River also expects a pre-tax adverse development of $55mn to $60mn for the 2016 and 2017 underwriting years.
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XPT describes the business written as “the best of the high-risk accounts”.
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Progressive’s monster growth in Commercial Auto is becoming harder to ignore as a contributing factor to market-wide dynamics.
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Corrective pricing action is moving commercial auto unit in the right direction, but more is still to be done, the executive said.
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Catastrophes in 2019 neared the attachment point of the carrier’s Skyline Re cat bond.
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The insurer has launched a new dedicated market platform and hired a sector expert to lead it.
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Shares in the commercial auto insurer rise more than 8 percent in early trading.
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The arrangement will allow drivers to buy and amend insurance on an app, and reward them for safe driving.
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Selective achieved renewal pure price increases that, on average, were in line with expected loss trends.
