The timing of Sandy hit this company hard, and they’ve been silent as long as possible. Now, facing mandatory reporting requirements, I believe they are not taking the full hit of Sandy and have depressed reserves. More to come in 2013, trying to outrun the devil named Sandy. Hanover took 15% to 20% rate increase in Personal lines in several states. Watch for Illinois and Wisconsin to be next in line for very large Personal lines increases. They’ve already tightened up in Commercial Lines.
The timing of Sandy hit this company hard, and they’ve been silent as long as possible. Now, facing mandatory reporting requirements, I believe they are not taking the full hit of Sandy and have depressed reserves. More to come in 2013, trying to outrun the devil named Sandy. Hanover took 15% to 20% rate increase in Personal lines in several states. Watch for Illinois and Wisconsin to be next in line for very large Personal lines increases. They’ve already tightened up in Commercial Lines.