Favorable pricing trends in U.S. medical professional liability insurance (MPLI) have not yet translated to a reversal of weak segment underwriting performance, Fitch Ratings says. Continued rate increases will promote improvement in near-term results, but persistent litigation-related loss severity and competitive market fundamentals likely inhibit a return to underwriting profits. The 2020 combined ratio of… Continue reading MPLI Pricing Increases as 2020 Marks Fifth Consecutive Year of Underwriting Loss: Fitch
Tag: Fitch
U.S. Commercial Lines Profits Could Improve Further in 2019: Fitch
Direct statutory written premiums in the U.S. commercial lines insurance segment grew 5% in 2018, up from 3% the year prior, according to a new report from Fitch Ratings. On a net basis, 2018 premiums grew 15%, an improvement bolstered by U.S. tax laws, which allowed large commercial underwriters to keep more business onshore. “If… Continue reading U.S. Commercial Lines Profits Could Improve Further in 2019: Fitch
Fitch: Carriers Better Able to Estimate Loss Costs after AOB Reform
Fitch Ratings believes that insurance carriers in Florida will be able to better estimate loss costs following the passage of a new bill designed to curtail unnecessary litigation and assignment of benefits (AOB) abuse in the state. The reforms will limit the ability of third-party service vendors to take advantage of state laws originally intended… Continue reading Fitch: Carriers Better Able to Estimate Loss Costs after AOB Reform