Feb. 12 at 4:25 PM
$MCY a quote from their X page... "
$MCY completely deviates from how other carriers have handled the fires.
$MCY reports far lower losses per average PIF than their peers, less than 50% in many cases.
$MCY is the only carrier to exclude FAIR assessments from their losses, despite the first FAIR assessment being sent out yesterday.
$MCY is the only carrier to include subrogation benefits in their net loss number, even though it will take years for these benefits to develop.
$MCY cannot even figure out if it will treat the fires as 1 or 2 events; unlike peers MCY hasn’t disclosed the number of claims filed, instead opting to use historical estimates."
