What a nightmare – having to figure out the reserves on this book. But wouldn’t a better pricing matrix be in line with this change as well? LGIC is known in offering substantially lower market rates in trucking, which explains this mess and why this happened. Keeping these same pricing structures doesn’t make much more sense going forward, right? The fronting charges on State National deals can’t be cheap, so how is a turn-around even likely? I guess I just don’t get it! Good luck!
LGIC has one general agency in AZ. selling non-standard auto through Lincoln while maintaining their wholly owned underwriting company in-house. I wonder which one generates a profitable loss ratio? This general agency has never produced profitable results for reinsurers beyond the honeymoon years of any treaty. But, they keep coming back for more? Kingsway’s choice in this general agent will continue to bring “surprises” for years to come.
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What a nightmare – having to figure out the reserves on this book. But wouldn’t a better pricing matrix be in line with this change as well? LGIC is known in offering substantially lower market rates in trucking, which explains this mess and why this happened. Keeping these same pricing structures doesn’t make much more sense going forward, right? The fronting charges on State National deals can’t be cheap, so how is a turn-around even likely? I guess I just don’t get it! Good luck!
LGIC has one general agency in AZ. selling non-standard auto through Lincoln while maintaining their wholly owned underwriting company in-house. I wonder which one generates a profitable loss ratio? This general agency has never produced profitable results for reinsurers beyond the honeymoon years of any treaty. But, they keep coming back for more? Kingsway’s choice in this general agent will continue to bring “surprises” for years to come.