NU Online News Service, July 25, 2:12 p.m. EDT
While property and casualty insurers have benefitted from favorable loss-reserve development in recent years, a Keefe, Bruyette & Woods (KBW) analysis contends that accident years 2008 to 2010 are underreserved and that adverse development will result in the future.
KBW says it expects accident years 2003 to 2007 to remain redundant. The firm also says that, according to its analysis, reserve adequacy varies by line, with medical-malpractice and other liability lines appearing redundant while workers’ compensation, nonproportional assumed reinsurance and products liability appear deficient.
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