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
Was this article valuable?
Here are more articles you may enjoy.
CopperPoint Insurance to Acquire Surety Specialist General Indemnity Group 
Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less 
US Personal Lines Insurers Ask for Less Rate After Period of Catch-Up 
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI From This Issue
