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The intermediary’s latest study shows double-digit rate increases in commercial property and auto lines. -
The carrier had estimated a write-off in the range of $25mn-$35mn.
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Recently released statutory data shows the US P&C industry loss ratio touching the 65% mark, the highest level in two decades.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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AM Best’s last rating was to downgrade the financial strength rating (FSR) of the members of the Hallmark Financial Group to C++ (marginal) from B++ (good).
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The update comes days after the agency downgraded the carrier’s ratings late last week.
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The carrier has exhausted the limit of the loss portfolio transfer with Darag on its troubled commercial auto book and is subject to further reserve deterioration.
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One question in the community is whether nuclear verdicts this year will spark a re-acceleration of rates, especially in the lead excess layers.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The results were based on an analysis of paid loss data for commercial auto liability between 2012 and 2021.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
