Liberty Mutual raising rates, becoming ‘more selective’ in underwriting: CEO Sweeney
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Liberty Mutual raising rates, becoming ‘more selective’ in underwriting: CEO Sweeney

Shelby Rosenberg
August 10, 2023
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Liberty Mutual CEO Tim Sweeney said the carrier is pursuing rate increases, increasing its risk selectivity and tightening terms and conditions in the US retail market, amid severe wind and hail events in Texas, Oklahoma and Colorado, inflationary pressures and an ongoing escalation in legal system abuse.

On a call with analysts, the executive added, “Inflationary pressures, particularly in personal auto and property, have not eased to the degree we anticipated, emphasizing the need to be more selective in our underwriting and to ensure we achieve...

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