AustinAD99
Well-Known Member
“Commercial auto has been a very challenging line for the industry as a whole and presumably more so for Uber, perhaps a function of its high profile,” Hughes wrote. “We have commented recently on the growing concern regarding the phenomenon of ‘social inflation’ which often manifests in higher jury awards, which make it challenging for insurers to accurately forecast future payouts.”
Wonder if Uber will have to raise rates a tad for new insurance deal or more than likely just steal it from the drivers...“This account has not met our expectations for profitability, and we think it best to terminate the underwriting relationship as of year-end,” Chief Executive J. Adam Abram said in a late Tuesday statement.
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