Given today’s Traveler’s news, I thought it was worth sending around again my commentary from last quarter on pricing and loss costs. I humbly suggest it is worth a re-read.

My earlier longer post on pricing can be found below. If you want to skip the history and get to the main point, you can skip down to the section “The Compounding of Errors”.

Separately, I had two posts over the last week about challenges facing the auto insurers. Those are less trading oriented, but worth a read when you have a break from earnings.