Proassurance Group

Executives said the company continues to shrink its book of business in markets with poor underwriting conditions.

The Insurance Insider US news team runs you through the earnings results for the day.

Rand said the company remains “very bullish on the long-term value that NORCAL brings.”

The Insurance Insider US news team runs you through the earnings results for the day.

The carrier’s comments on claims severity should serve as a warning for the industry

The Insurance Insider US news team runs you through the earnings results for the day.

Social inflation is driving “cat-type” losses, with an increase in $50mn-plus verdicts.

Workers' comp saw an ongoing significant increase in losses.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Around 65% of the carrier’s claims costs were related to medical expenses, which the company attributed to increased costs for care of injured workers driven by healthcare wage inflation and medical advancements.

Executives noted that the company has been cautious about releasing prior year reserves because of inflationary impacts on policies written later in 2022 and into 2023.

Inside P&C’s morning summary of the key stories to get you up to speed fast.