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Loss cost inflation remains an unknown and is sustaining price discipline. -
Executives flagged elevated packaged auto loss activity in Q2.
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Travelers and Selective’s releases point to ongoing reserving challenges this earnings season.
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Markel executive Alan Rodrigues will lead the unit.
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The all-items CPI increased 3% year-over-year, down from 3.3% in May.
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“Hammer letters” are going around, and insurers are struggling to coordinate on claims handling.
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“I think it just starts with people just being desensitized to these numbers,” he said.
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Claims department investment is needed to compete with the plaintiffs’ bar.
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The all-items CPI has increased 3.3% over the last 12 months.
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The number of nuclear verdicts rebounded to pre-pandemic levels by 2022, USCC data shows.
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Loss picks for other liability are at a 23-year high, but that still may not be enough.
