|
Hudson Announces Exiting the Admitted paper in CA Effective 12/1/22 New
Business / 03/01/23 Renewals
Hudson Insurance Group informed us that they will no longer be offering admitted
quotes in the state of California. This applies to Primary layer only
when auto liability is included. It does not affect Excess Umbrella,
CPL, or Excess CPL. All quotes with auto liability for lead umbrellas will be on
Non-Admitted paper. Alternative options are available.
State of the Market:
The California tort liability situation is causing a very restricted market for
high limit auto and personal liability exposures. New developments such as
private equity litigation financing are resulting in an increase frequency and
severity of claims. At Monarch we are continuning to look for markets and
capacity. While the current market place is tightening, we will continue to
support our retail agents during this challenging time by offering the best
solutions possible.
|