Liberty Mutual highlights underpricing as a serious problem

Liberty Mutual Insurance News

Insurer takes aim at the problem of underpricing in the commercial market Liberty Mutual, the third largest property and casualty insurer in the U.S., expects the price of the country’s commercial insurance lines to continue to grow, but not at an adequate pace to resolve some of the problems running rampant in the insurance industry. Liberty Mutual CEO David Long notes that underpricing has been a significant problem in commercial lines for some time. Underpricing has had a particular impact on the worker’s compensation sector. There may be a solution,…

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Liberty Mutual posts Q3 losses due to natural catastrophe and asbestos charges

The Liberty Mutual Group, one of the largest property casualty insurers in the U.S., has posted their third quarter financial report. The report shows that the company has lost millions as the result of natural disasters and a high-profile asbestos lawsuit that was levied against the insurer earlier in the year. Last year, the insurer reported a net profit of $567 million during the third quarter, but 2011 has produced several major natural disasters that have shaken the insurance industry to its core. Liberty Mutual’s losses from catastrophic events for…

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