GAINSCO has reported a third quarter loss of approximately $7.6 million. As a result, the company has concluded it will be necessary to increase estimated ultimate liabilities by approximately $10 million, primarily for commercial trucking for prior accident years. GAINSCO has decided it will cease writing non-profitable commercial trucking business that had accounted for approximately $25 million in annual premiums or about 15 percent of gross premiums written.
Topics Trucking
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