Transportation Insurer National Interstate Posts Surprise Loss

By Megan Hickey | July 31, 2013

  • July 31, 2013 at 2:21 pm
    Retired UW says:
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    All these companies that slash prices to gain market share, when will they learn? There’s been no meaningful investment income in a decade, UW expenses are higher, litigation and settlements cost more. They have forgotten the formula: dividing incurred losses plus expenses by earned premiums = Combined Ratio.

    Idiots.

  • August 1, 2013 at 10:57 am
    InsGuy says:
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    I agree. But, this may be more of situation of under-reserving your losses to improve your results/capital. What do you bet they just completed an audit by a Reinsurer?

  • August 2, 2013 at 11:50 am
    Randy says:
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    Just wait until the tail on their workers compensation policies slaps their results into the tank. They’ve been under pricing workers’ compensation for trucking risks in California for a number of years now, bound to catch up with them sooner or later.

  • August 28, 2013 at 1:18 pm
    not surprised says:
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    Fewer policies are being written by them. They do not have as large of a bucket of premium to go to as larger companies and reserves are set low. NIIC is super conservative and picky and believes they can operate on underwriting profit by only picking cream of the crop companies. Problem is sooner or later they have claims too. They are operating like they are in the 1980s



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