The Hanover
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Markel, Axis and Selective booked sizeable reserve charges in their liability segments.
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Insurance Insider US runs you through the earnings results for the day.
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She joined The Hanover in 2015 and since 2018 has served as CUO of technology and life sciences underwriting.
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Marohn will lead the company's E&S business, specialty industrial business, Hanover Programs, specialty general liability and Hanover Specialty Insurance Brokers.
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Its Q3 cat losses of $196mn primarily resulted from severe convective storms in the region, and drove the overall combined ratio to come at 104.4%.
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The Inside P&C news team runs you through the earnings results for the day.
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A clear commonality is already emerging much as it did in the previous quarter, when severe convective storms – particularly hail – also dominated.
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The carrier’s cat loss estimate for Q3 2023 is more than twice Q3 2022’s $90.1mn, which included $28mn attributable to Hurricane Ian.
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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 migration is due to admitted carriers not being able to get the rate filings approved in a lot of the states – an issue that is extending beyond California and Florida, to the east coast.
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Hamann previously served as the company's deputy president and CUO of small commercial.
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Executives have pointed out that it is becoming increasingly difficult to talk about broader trends as micro-cycles are developing for each line.
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These changes include increasing all payroll deductibles to specific minimum levels by coverage A limit, adding wind and hail deductibles in multiple states and transitioning to an ACV schedule for roofs as the standard offering.
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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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Q2 cat losses reported by most carriers were significantly higher than a year ago owing to the number of US convective storms and likely higher carrier retentions at reinsurance renewals.
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Losses stemmed from 19 convective storms across multiple states, with hail damage representing the majority of reported losses, primarily impacting the personal lines segment.
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Inside P&C’s news team runs you through the key highlights of the week.
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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 regional cohort keeps pace with nationals on pricing, and stays ahead on reserving trends.
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Homeowners' renewal pricing is expected to increase around 20% throughout the rest of the year.
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The Hanover’s ex-cat CoR rose to 91.7% in the first quarter, up from 89.8% a year earlier as the company posted lower reserve releases.
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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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Losses stemmed from over 20 weather events, including severe freezes in February and widespread wind and tornadic activity in mid- to late March.
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