Travelers
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Asbestos claims for exposed insurers could place more pressure on workers’ comp reserves. -
Umbrella and commercial auto led Q3 rate hikes with double-digit increases.
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The firm reported $547mn from Hurricane Helene losses.
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Top concerns also included medical cost inflation and employee benefit costs.
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Civil case, nuclear verdict and claims count data show worrying trends.
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The figure represents a quarterly increase of 102%.
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Travelers now holds around 6.2% of Fidelis, down from over 7.2%.
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The industry could weather a recession, unless loss costs and reserving pressures worsen.
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The report also noted that 35% of injuries occurred during an employee’s first year.
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Travelers and Selective’s releases point to ongoing reserving challenges this earnings season.
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A quick round-up of today’s need-to-know news, including the Microsoft outage and Travelers' results.
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The carrier purchased an additional $150mn of cover.
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