On the heels of Meadowbrook Insurance Groups announcement that it was adding $31 million to its reserves, rating agency A.M. Best Co. says it has placed the insurer under review with negative implications.
Specialty program manager Meadowbrook Insurance Group Inc. says it expects to add more than $31 million to its reserves to handle higher-than-expected loss activity from accident years 2009, 2010 and 2011.
Specialty program manager Meadowbrook Insurance Group Inc. says it expects to add more than $31 million to its reserves to handle higher-than-expected loss activity from accident years 2009, 2010 and 2011.
Increases in losses primarily from accident-year property exposures in 2011 that were not reported until the second quarter this year resulted in Meadowbrook Insurance Group Inc. reporting a net loss of $7.7 million for the period.
Three regional insurers say second-quarter catastrophe losses will run into double-digit figures, stemming mainly from 13 weather events throughout the period.
In the final part of a series of articles examining program submissions, executives with Meadowbrook's business development team review the steps involved in developing a program.
With a signed deal in place, it is now time to begin the implementation of the program based upon the executed proposal. Program implementation has its own set of challenges and important areas that must be addressed