U. S. auto property writers took a hit in the second quarter of 2011, thanks to tornadoes and thunderstorms in the South and Midwest.
According to SNL Insurance, an SNL Financial company, the industry loss ratio, before consideration of reinsurance, climbed to 70.6 percent, the industry's second worst performance since 2001. This loss ratio also outpaced the loss ratios of 58.1 percent and 56.2 percent for the 2010 and 2009 second quarters, respectively. The industry premium remained essentially flat, decreasing just 0.2 percent from the 2010 second quarter.*
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