Rates

The motor vehicle insurance index rose 7.4% year on year that month, from 6.0% in June, while the annual gain in all-items CPI dropped to 8.5% from 9.1%.

Renewal rate increases accelerated for most major commercial lines during the second quarter compared to Q1, except for umbrella and workers’ compensation.

The company reached the fourth consecutive year achieving rate above loss-cost trends.

Bucking earlier forecasts that predicted a general slowdown in rate increases, some disclosure has pointed to increased momentum.

Demotech wrote to more than 15 carriers to warn of a possible downgrade last month.

Public companies’ primary prices renewed with the same limit and deductible were down 0.5% year on year in Q2 2022, marking the first decline in 17 quarters.

Business placed in the region had shown the sharpest increases, but is also recording the fastest deceleration.

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

Year to date, premiums written topped $5.6bn, increasing 22.4% from the first half of last year, according to SLTX data.

Joe Petrelli said Demotech would continue to follow its independent methodology, despite outside pressure.

The downward trend of securities class actions against public companies is expected to continue in 2022, with the annual filings projected to drop by 7% this year, Woodruff Sawyer said.

Inside P&C’s news team runs you through the key highlights of the week.