Cincinnati Financial
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Ashley Christensen has filed the complaint on behalf of all North Carolina entities covered by Cincinnati’s standard business interruption coverage. -
Catastrophe losses were higher in the fourth quarter and more than doubled for the full year in 2020.
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The executive takes over for Martin Mullen, who announced his retirement in the fall.
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District Judge Elaine Bucklo granted The Cincinnati Insurance Company’s motion to dismiss the case.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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Underwriters Francis Hernandez and Ian Seakens have joined Cincinnati Global Underwriting to lead the new lines of business.
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The quarter is the second in a row the regional carrier has reported elevated cat figures.
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The decision is thought to be the first ruling on summary judgment against the insurance industry.
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The Midwest derecho in late August accounted for about $103mn of the carrier’s quarterly claims tally.
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Mini-MDLs will be established for some lawsuits brought against Arch, United Specialty and Society Insurance.
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The company’s underlying loss ratio fell 2.7 points to 58.2%, despite cat loss pushing the combined ratio to 103.1%.
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P&C rates increased at the “low end of the mid-single-digit percent range”.
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