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Normalized growth and peak multiples confirm we are headed towards a Darwinian race. -
Workers’ comp rates dropped again, but the decline slowed from last quarter.
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Selective’s CEO earlier attributed Q3 adverse development to the NJ market.
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By line of business, $35mn of the charge relates to commercial auto and $5mn to personal auto.
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The decision impacts 5% of the reinsurer’s North America P&C facultative premiums.
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Joseph Lacher will step down as president and CEO and resign from the board.
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Fronting doesn’t look any better when it’s broken down by segment.
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The jump in the latest estimate could be due to damage to seasonal properties only being recently discovered.
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While the Fed is more concerned with jobs, other macroeconomic concerns trouble the industry.
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Reinsurers will not back business indefinitely where loss ratios continue to exceed the industry by a wide margin.
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Persistent social inflation challenges evident across key long-tail lines at half-year mark.
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High H1 reserve releases of $7.4bn were driven by the largest of carriers.
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The other liability loss ratio continued to rise as workers’ comp and commercial auto reversed course.
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Despite mild headline CPI, some insurance-related items are heading in a worrying direction.
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Commercial auto saw the largest rate change, which was down about a half point by the end of July to 7.96%.
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Appointments include leadership in transportation, energy, marine and others.
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Auto, umbrella and excess lines recorded mid-double-digit rate increases in Q2.
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The company also purchased $15mn of SCS parametric coverage.
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The pace of increases ticked down in the second quarter compared to Q1.
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The regional insurer has increased its weighting to OLO and commercial auto, versus comp.
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Morgan Stanley first invested in Cover Whale in May 2024 with structured debt.
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The executive said the claims industry is going to “be transformed”.
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Rising inflation could raise claims severity but also increase investment income.
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All lines except workers’ comp are up year over year, however.
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Under the new law, vehicles will only be required to carry $100,000 in PIP per person.
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Premium rose across the top 15 P&C risks in 2024.
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Early adopters of AI will see efficiencies – and likely increased market share, Kantar said.
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Tariffs could drive up property loss costs, but the impact on other items has been muted.
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A deep-dive analysis shows LitFin is not the boogeyman this industry paints it out to be.
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Rates need to be fair but also should not be “destructive of competition”.
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The suit, filed in Florida federal court, is Uber’s second Rico case.
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The former Hub executive has over 30 years of experience in transportation.
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Increases dropped to 5.3% from 5.6% for the previous quarter.
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The NYC taxi insurance market is on the brink of collapse. Regulatory relief has been nowhere to be found.
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High general liability losses are cause for concern despite modest improvements in other lines.
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Inflation indices fell in April, but some items related to P&C are still elevated.
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