Personal auto
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US SCS insured losses YTD already stood at around $12bn prior to these events.
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Flash floods moved into Texas overnight and into the lower Mississippi Valley Monday.
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The carrier is also targeting E&S growth in property brokerage and global specialty.
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Concern about vague cat modeling language was a theme at a Tuesday workshop.
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Commercial lines will remain bifurcated, with strong growth in property and weak growth in liability.
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Downward trends of DCC ratios are beginning to reverse, which could cause issues for long-tailed lines.
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Light cat losses, reserve development, and pricing trends are key topics in Q1.
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Workers’ comp releases continue to mask deteriorating reserves in 2023.
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This compared to a 20.6% YoY increase for February and January.
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He will manage the region’s sales and service teams.
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The company has retained Tony Ursano’s IAP for the raise.
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Mutuals struggle to react and adapt to a worsening loss environment.
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The downgrade reflects the company’s balance sheet strength, which AM Best assessed as weak.
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Headwinds weigh on carrier results, but premiums and surplus remain mostly stable.
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The homeowners' CoR fell over 32 points sequentially to 75.8%.
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It follows Las Vegas intermediary Insurvia, which launched an auction last year.
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Premium inflation holds, as loss-cost inflation trends continue to moderate.
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A January freeze saw temps drop to close to -50°F.
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The CPI all items index was at 3.2%, from 3.1% in January.
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Commercial lines difficulties continue to weigh down industry results.
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Sizeable investment returns masked 10-year high underwriting losses.
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Personal lines rate filings are rising, even as some inflation drivers slow.
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Root’s improved results make it an attractive acquisition, not a comeback story.
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Personal auto rates increased 19% during the year.