The Hartford
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A challenging legal atmosphere and drift in loss cost components add difficulty to the task of tallying ultimate losses. -
If rapidly changing macro trends like climate change and tech development have fueled the market’s growth, inflation could do the same, the executive said.
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Meg Carter will succeed Richard Vaughn, who left the firm a few months ago to head sales at Main Street America Insurance.
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The executive noted that the carrier is constantly evaluating its participation in other lines besides construction, including financial lines or environmental.
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The Hartford has reduced the share of workers’ comp in its portfolio by nearly 16 points over the last five years.
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The executive has spent more than 11 years at the company and oversaw the integration of Navigators.
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The Hartford has appointed Edmund Reese to its board of directors, effective October 17.
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Chubb pushed its loss trend assumptions higher as it seeks to stay ahead of inflationary pressures.
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The insurer’s Q2 combined ratio narrowly worsened, as improvements in commercial were outweighed by personal lines challenges.
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The insurer’s personal lines CoR jumped 14.8 points to 101.8% while the commercial lines unit’s CoR improved 1.6 points to 87.3% in Q2.
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The sector was hit by a rough first half of 2022, with more to come in the second half of the year.
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Excessive litigation costs and continued losses threaten the Sunshine state’s market.
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