"The best-performing auto and homeowners' insurers have invested significant resources into technology to improve their underwriting and pricing tools. Those carriers that are slow to adapt to the challenges ahead or don't have the means, expertise or technological capabilities to keep pace with the evolving market trends will likely face pressure," AM Best Senior Director Richard Attanasio said. (Credit: Shutterstock)
Growing loss costs severity, rate adequacy challenges, increasing reinsurance costs and deterioration of personal auto results have pushed AM Best to revise its outlook for the U.S. personal lines insurance sector from stable to negative.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
