"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.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
