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Carriers aren’t calling off their retreat from the market until tangible, actionable regulations emerge from commissioner Lara’s camp, sources told this publication. -
The reforms are working for claims filed after December 2022, but attorneys are still litigating claims filed prior to the legislation.
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Highlighting regions where the demand for SRCC products is increasing, stakeholders can tailor offerings more effectively, the PCS said.
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The commercial auto CoR worsened 7.8 points to 108.6% for the month, while the homeowners’ CoR deteriorated 15.1 points to 82.1%.
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The need to recognize adverse development in the back book is the most plausible culprit for market behavior, and an escalation of rhetoric.
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At a Tuesday hearing, California's assembly committee on insurance quizzed insurance commissioner Ricardo Lara on the finer points of his sustainable insurance plan.
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The executive has worked at the private retailer for over five years and has held various positions, including PE and transactional VP.
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The syndicate exited the class in 2021 at a time when the Lloyd’s market was in the thick of its performance drive and Decile 10 exercise.
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Frequency and severity are both ratcheting up at a time when there are already questions about rate adequacy.
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The revision reflects Ategrity’s pivot away from more volatile property cat business to focus on medium-sized commercial clients.
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Directors and officers face an increased risk of litigation next year, according to a report.
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Cooling CPI metrics and improving loss ratios indicate a positive shift for the personal auto industry, but results are not yet back to where they need to be.
