Insurance companies, tired of losing money, are raising rates, restricting coverage or pulling out of some areas altogether — making it more expensive for people to live in their homes.
Tag: underwriting losses
Inflation, Catastrophes Contribute to 2022 Underwriting Loss for P&C Industry: New Triple-I/Milliman Report Shows
The 2022 net combined ratio for the property/casualty insurance industry was 102.4, with underwriting losses for personal lines partially offset by underwriting gains for commercial lines.
Underwriting Losses Soar, Net Income Shrinks for P&C Insurers in 2022
The P&C industry experienced a $26.9 billion net underwriting loss in 2022, more than six times the $3.8 billion underwriting loss in 2021.
U.S. P&C Industry Suffers $26.5B Underwriting Loss in 2022
The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, a slide of $21.5 billion from the prior year’s underwriting loss, according to a new AM Best report.
P&C Industry Experiences $6.1B in Underwriting Losses for Nine Months 2021
According to a new AM Best report, increased losses and expenses in the property/casualty (P/C) industry in the United States during the first nine months of 2021 resulted in a $6.1 billion underwriting loss for the period. This financial review is detailed in a new Best’s Special Report, “First Look: Nine-Month 2021 Property/Casualty Financial Results,”… Continue reading P&C Industry Experiences $6.1B in Underwriting Losses for Nine Months 2021
Business Auto Insurance Segment Records Decade-Worst Underwriting Loss in 2019: Best
The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting results, according to a new AM Best report. A new Best’s Market Segment Report, titled, “U.S. Commercial Auto Writers: Profitability Remains Elusive,” states that… Continue reading Business Auto Insurance Segment Records Decade-Worst Underwriting Loss in 2019: Best