In industry news:

The U.S. property/casualty insurance industry in 2016 will likely post an underwriting loss for the first time in four years due to higher catastrophe losses, competitive market conditions and auto liability challenges, according to a new A.M. Best report. The 2017 Review & Preview Best’s Special Report, “Profitability Slides, Surplus Growth Slows and Competition Intensifies for Property/Casualty Insurers,” says that the P/C industry is expected to post a combined ratio of 100.7 percent for 2016, a deterioration from 98.3 percent in 2015.

Read more via Business Insurance here.

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