NU Online News Service, July 19, 11:20 a.m. EDT
While insurers have achieved steady rate increases in personal lines, more needs to be done to contend with weather-related losses in the homeowners line and high-severity losses in personal auto, according to a Travelers executive.
Commenting in a statement accompanying the insurer's second-quarter results, Brian MacLean, the company's president and chief operating officer, says, “In personal insurance, we are very pleased with the pricing gains in the quarter.” But, he adds, losses and loss trends “remain at levels that necessitate further action.”
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