NU Online News Service, Nov. 9, 11:43 a.m. EST
State Auto Financial Corp.'s chief executive says the insurer will seek 20 percent price increases in 2012 in order to keep up with historic loss trends and the company is turning to the reinsurance market for a quota share treaty.
"Even after increasing prices by over 30 percent over the last three years we'll need another 20 percent price increase," Chairman and Chief Executive Officer Bob Restrepo said during a conference call to go over State Auto's financial results.
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