-
Premiums increased 5.6% across all major lines, down from last quarter.
-
The all-items CPI increased 2.9% over the last 12 months.
-
The action follows the completed acquisition of Accredited by Onex Partners.
-
The measures include stricter timelines for rate application approvals and follow-ups.
-
The board of directors has voted for a 10% rate hike.
-
Workers' compensation rates fell again on a year-over-year basis.
-
Commercial liability and commercial property continue to dominate.
-
-
The top three states averaged a 14% YoY gain, compared to June’s 3.3%.
-
As property momentum slows, personal lines excess and surplus could start outperforming.
-
In messaging to the market, the cyber insurer described the rating environment as “stable and sustainable”.
-
The broker said achieving profitability “remains challenging” for insurers.