GAINSCO has reported a third quarter loss of approximately $7.6 million. As a result, the company has concluded it will be necessary to increase estimated ultimate liabilities by approximately $10 million, primarily for commercial trucking for prior accident years. GAINSCO has decided it will cease writing non-profitable commercial trucking business that had accounted for approximately $25 million in annual premiums or about 15 percent of gross premiums written.
Topics Trucking
Was this article valuable?
Here are more articles you may enjoy.
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says From This Issue
