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Clear Spring Property and Casualty will provide underwriting capacity for the portfolio, while Southwest Risk Agency Services will manage the business.
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Chuck Couch has joined the aviation insurance MGA in Atlanta.
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Workers’ comp rates turned positive for the first time in over 5 years, CIAB data showed. -
Reserves in scope have not been finalised, but sources estimated the figure to be in the low hundreds of millions of dollars.
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The rating applies to Trean and its subsidiaries Benchmark and American Liberty, which all received a ratings outlook of stable from the agency.
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Janelle Frost said the carrier had not seen many cases where insureds’ headcount was reduced to zero.
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Rates at Travelers increased by “double digits”, excluding workers comp.
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The state's insurance commissioner has been one of the most active in mandating carriers return premiums to insureds in response to the Covid-19 pandemic.
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Claims were initially feared to soar as high as $34bn, according to a state regulatory agency.
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Keith Thurman will lead the build-out of the operation from the Atlanta office
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The executive says carriers have not underwritten or priced for statutory developments.
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Preliminary data for April suggests auto frequency is down around 50%. We expect this could put pressure on for more/bigger premium rebates, and potentially add liquidity stress to intermediaries.
