Proassurance Group
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Social inflation is driving “cat-type” losses, with an increase in $50mn-plus verdicts.
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Workers' comp saw an ongoing significant increase in losses.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Around 65% of the carrier’s claims costs were related to medical expenses, which the company attributed to increased costs for care of injured workers driven by healthcare wage inflation and medical advancements.
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Executives noted that the company has been cautious about releasing prior year reserves because of inflationary impacts on policies written later in 2022 and into 2023.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Inside P&C news team runs you through the earnings results for the day.
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Inside P&C’s news team runs you through the key highlights of the week.
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In an interview with this publication, the executive added that jury sentiment is driving these large awards.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Company shares opened at $12.33 on Friday, down nearly 50% from their 52-week high of $24.50.
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