US specialty and nationwide insurers showed uneven evidence of rising ex-cat, accident-year loss ratios in early fourth quarter disclosures to demonstrate the need for more conservative loss picks at this point in the market cycle.
It was no surprise that auto books continued to cause problems for carriers with significant exposure to the line.
Click to enlarge And following the eventful third quarter results season, the prevalence of the issue proved that it was systemic in nature.
An example of...
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