Hagerty’s Q3 loss ratio jumps 15 points to 56% on Ian losses and increased reserving
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Hagerty’s Q3 loss ratio jumps 15 points to 56% on Ian losses and increased reserving

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Classic car underwriter Hagerty’s loss ratio jumped 15 points to 56% in the third quarter, driven by $10mn in retained losses from Hurricane Ian and reserve strengthening amid higher loss severity in US liability lines.

While Hagerty has thus far been able to avoid deteriorating personal auto loss trends – an indication that collector car driving trends are inherently distinct, as Inside P&C Research’s team previously discussed – the company has seen increased severity...

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