much. very you thank Rich,
is a couple offer I I in think the maybe of macro my before So, quick just least quarter, soundbites opinion. noting, worth at a observation that on
a for solution or industry that society a deal solution. to reduce Many reaction is We pain. all unfortunately, looking does there at is they grappling these pain provide insurance that try eliminate times product are a even tremendous minimum and and purchased there with. understand people the A are challenges, quite is to looking of And and extraordinary the one. the frankly great when they're are not that for natural
out of subscribed Much of with never a there waste. support to to the vehicles go of crisis unfortunate have plaintiff to the seem letting that the the idea funding are litigation bar
and by at policy skilled to be and very seem Some words says the unencumbered what media. a managing the are
it ultimately come will unlikely it these to is that to will price important groups they broad a it that is success, note, achieve society While achieve is success at important overall. I recognize think to that any
parts If The you politicians much Insurance lose. are because that funding if and is will to fundamentally up, up. ultimately policy, in allow then of a nothing will pricing risk. it get more words and pay the than go and a society like, bar they insurance to of be courts tool is plaintiff the lost plaintiff of and goes as what ultimately seeking, win very us disregard going the costs or likely bar provide insurance the the of cost If or society mechanism, up. a will the price, contract rest the litigation will those that a spread
In the past, talked have social we inflation. about
not, We've past think industry matter, they circumstance. to referenced like If have how we society to not generations. have unfolding to Hopefully, as this though pay. highly social we the keep inflation would we understand whether crisis. seen trying it to, the level matter such you to unlikely, have choice, foresight quarters. or plaintiff of to way like whether up is is and price the med-mal the of talked see about how and have We a much I unfolds is society things contracts in policies Ultimately, in wordings going see this the with, will a is a bar make willing that the
the Turning quarter. to
job As me. the did growth both a from was the but the great on and of healthy, gross couple reasonably it, always, covering net. Rich Obviously, observations a
bunch always, of As a pieces. moving
One up just to response really inflation costs. with to increases on social is the that and the conversations picked keeping clearly was headlines press progress, release lost from that rate of around up our which past the continue
also under lot the mentioned the surface. all of had catch that while of a pieces in are moving there One you headlines, we've the past the things is,
a solely of Germany January, draw helps of commercial that you book pieces of looking just we and and There example, it's approximately were million effectively I hopefully that we will, auto So, by are to German not we because we attention it it. if commercial your non-renewed, just $XX that large other commercial rate. lot pick a moving you auto. in have of business auto, aspects at book to if a or different understand on in of have
what continues ratio we loss allowance Renewal ratio, for put of gives about about at clearly -- Rich way. us retention coming XX%, The are talked hang the vast obviously IBNR. in losses. constructive to is related the increases and or and our for COVID-XX rate up which provisional by a confidence healthy that the comfort impacted in the allowance majority
We and are wait one take that a see sit just view completely and off cannot the attitude.
what and see to we on job proactive it's thoughtful. horizon, as out to be the felt Given we though our be
we So, we undoubtedly, came to will how through number. to something do various come though, not this up that the went that up with be analyses to felt we and needed number as spot this on, but prove we with is
Based or too hot got the but IBNR. have, I on tell our it is whether the can’t we you is it most estimate. of it information too And -- that again, cold, best we got
On the expense Rich touched that. ratio, again on
premium through to with And to improvement. for the to earned story the referenced, continue Rich us. given economy, while the instability to But have we're we broader see see be here. that lot in coming going business how pleased that continues We what we'll the grow, have means the from as of and a unfolds is to have
losses. back going to the just comment One
provision we I think, that that the up. it's important not put misconstrue people
wordings from perspective Our very my policy are thoughtful.
be viruses. have have the in it we in to damage business are that is still place required make a things place lot as additional course, interruption. unknown. -- such triggers when need sure exclusions would to trigger order nevertheless, physical the And to appropriate But in of We that to comes there's
again Rich touched The on investment this. portfolio,
comes liquidity, worth at position portfolio, that duration keep again a touched think to is for -- been cost, bit a the rewarded much, short. the which going high fact we're obviously than the well think bodes quality liquidity that of it in Rich cost add I a at So, stage, keeping as as while very bearing. well a not we for have we on we the other this I'm relatively
But, questions. So, all we going well are there to I turn for of I'm in comfortable and the ahead will pause spite challenges over that are we think we positioned. it very very
Jimmy, up could questions, we open it please? for
