personal lines
Arbella Personal Lines delivered strong profits in its property business which resulted in an overall combined ratio of 95.4 percent. Despite these positive financial results, Personal Lines faced its share of challenges last year. Loss ratios for private passenger auto were strained across the industry, but we addressed these issues head-on with underwriting adjustments and several innovative new products.
In the spring, we introduced the Triple Play marketing campaign to support our Accident Forgiveness, Disappearing Deductible Rewards Plus, and Loan/Lease Gap endorsements. Tese additional coverages make an already great Arbella claim experience even better and limit price swings after a loss. We partnered with our independent agents to sell 93,000 Triple Play endorsements totaling $3.5 million in 2016.
We also developed two new homeowners coverages. Most new condo construction has been in the luxury market, so our High Value Condo endorsement allows agents to target this newly emerging demographic. Our Home Systems Protection with Service Line endorsement covers the breakdown of furnaces, generators, and central air- conditioning, and has been received well by agents and customers alike.
We continued to train and develop our talented staff throughout the year, expanding our team by 15 percent
and promoting another 15 percent to positions of greater responsibility. As a result, we’ve achieved a strong balance of experienced professionals and talented young employees who are new to the industry.
Rapid technology changes and extreme weather are transforming the industry and introducing new risks and exposures. In 2017 and beyond, we’ll continue to enhance our coverages and develop our employees to meet the needs of the dynamic marketplace.
“I began my career years ago delivering mail in the Operations department. I’m living proof that hard work is rewarded with development opportunities. I’ve never felt more valued!” – Amy M., underwriting manager, Personal Lines
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