The early word that I’m getting is that the WI regionals got pounded in this storm. Heard that WB might have $20 million in claims alone, and Acuity and QBE aren’t far behind. The wannabe’s, Society and Secura, won’t have as much but then they can’t afford to take much of a hit either. Cat Treaty reinsurers will be licking their chops in the Midwest when renewals come up
Also heard that West Bend continues to get pounded by the work comp construction tail in Illinois. They can’t outrun it. Especially when I’ve also heard that they’re giving back almost $3 million a month in return audit premium through the first 6 months of 2010. Heard from an agent at another carrier meeting last week.
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The early word that I’m getting is that the WI regionals got pounded in this storm. Heard that WB might have $20 million in claims alone, and Acuity and QBE aren’t far behind. The wannabe’s, Society and Secura, won’t have as much but then they can’t afford to take much of a hit either. Cat Treaty reinsurers will be licking their chops in the Midwest when renewals come up
Also heard that West Bend continues to get pounded by the work comp construction tail in Illinois. They can’t outrun it. Especially when I’ve also heard that they’re giving back almost $3 million a month in return audit premium through the first 6 months of 2010. Heard from an agent at another carrier meeting last week.