P/C Insurers Report $1.5B Net Underwriting Loss in First Half of 2016

October 5, 2016

  • October 5, 2016 at 1:24 pm
    Eddie Hall says:
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    Agents are writing bad business.

    • October 5, 2016 at 1:50 pm
      Dave says:
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      It’s actually the insurers who are writing it. The agents are just offering it, unless they are MGA’s.

      • October 5, 2016 at 2:25 pm
        Deplorables says:
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        Dave, perhaps underwriters are not asking for Loss Runs on Commercial anymore. Maybe there is something wrong with the Predictive Modeling of carriers on Personal Lines. Let’s all open a “Lemonade” market. I am sure they will be better, right?

  • October 5, 2016 at 1:49 pm
    Dave says:
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    I wonder how much of this came from the market leader in the P&C space, AIG? I’m sure plenty. And I wonder what the industry results are taking out the 600 pound gorilla?

  • October 5, 2016 at 2:56 pm
    jjwiedem says:
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    It is part of the cycle. $1.5 billion is small compared to overall market. $21 billion in profit is still substantial. Companies compete for market share and combined ratios suffer when market is loosening. I think the hurricane heading for US will be a large impact for 2016 based on changes in coastal coverage in the past 5 years.

  • October 5, 2016 at 5:47 pm
    Doug F says:
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    Nothing to do with the soft market cycle, eh? I’m still seeing carriers overly aggressive with Commercial Auto pricing on new business, yet trying to get rate increases on renewal business. No discipline and not much underwriting going on as carriers struggle and fight to write new business. Looking forward to more firm pricing in the near future. Let’s see what Matthew does.

    • October 6, 2016 at 11:24 am
      Deplorables says:
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      You can get away with firmer pricing if the economy is strong, but when it is weak like ours is currently, it is very tough.

      • October 7, 2016 at 5:01 pm
        Captain Planet says:
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        Wrong again, Agent. The soft market is a result of all the capitol in the industry, which continues to grow stronger and stronger the longer we go without enough catastrophic events affecting the reinsurance market. Hurricane Matthew will prove not to have much of an impact on this insurance cycle. There will still be too much capitol. Get used to the soft market hanging around indefinitely. Smart carriers aren’t ignoring sound underwriting practices. The others, they are the ones out there BUYING market share. In so doing, their rates are inadequate and they may be adversely selecting against themselves. Especially if they aren’t pre-inspecting or asking for loss history.

        • October 7, 2016 at 10:51 pm
          Captain Planet says:
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          It’s been a long week, all. Capital. Huge oversight and not caught by spellcheck because, well…At any rate, the reasoning is sound and solid. Can’t argue it and if you do, you do not understand the industry as it stands today.

          • October 7, 2016 at 10:59 pm
            Captain Planet says:
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            Not to forget to mention, the insurance cycle isn’t tied to simply the American economy, as someone above this comment suggests. I mean, c’mon! How do you explain the soft market, also referred to The Year of The Sale in 2000 then? Booming economy and the softest market I have ever experienced. Hard market in 2003/04? Tightened up a bit in 05/06. Agent, it sounds like you were in the industry back then. You cannot deny this, you do recall, correct? You can’t honestly believe what you typed above, right?

          • October 10, 2016 at 10:21 am
            Deplorables says:
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            So the guy who can’t spell “Capital” thinks he knows all about the market. That is pretty goofy.

          • October 10, 2016 at 12:27 pm
            Captain Planet says:
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            Agent,
            I really don’t think you want to get into a spelling contest. Actually, anything grammar-related. Now, care to talk about the substance of what I wrote and not nit-pick on my fingertips moving across a wrong letter? Probably not would be my guess. I already addressed the spelling error. Now, how about you address your error about the cause of the soft market?

      • October 10, 2016 at 1:21 pm
        Captain Planet says:
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        Agent, is it true you were banned from this website and that’s why you changed your name to Deplorables? That was intimated on a different forum and I’m curious if it’s valid. If it isn’t true, why did you change your name?

  • October 6, 2016 at 1:48 pm
    TX Agent says:
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    Fill the bucket…………and empty the bucket…

    • October 7, 2016 at 11:01 pm
      Captain Planet says:
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      Or, as they say when restoring your draw golf swing, pull the rope and throw the bucket.

      • October 11, 2016 at 12:45 pm
        Deplorables says:
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        What do you know about the golf swing dufus? Didn’t you say you had to get lessons every year? Lee Trevino said, you can talk to a fade, but a hook won’t listen. Did that fly right over your head?

        • October 11, 2016 at 1:35 pm
          Captain Planet says:
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          I would take you on any day, Agent. Any course. Hot tub together afterwards optional. You can decide after you pay your settlement. And who said anything about a hook? I was talking about a draw. Do you know the difference? Or, did that fly over your head?

        • October 11, 2016 at 1:59 pm
          Captain Planet says:
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          Agent,
          Lee also said, “The older I get the more I realize the better I used to be.” I love that quote! I would love to play with Lee, guy seems pretty dang cool.



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