DTRIC Insurance to begin exit from Hawaii market [Yahoo! Finance]
MS&AD INS GRP HL UNSP/ADR (MSADY)
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Source: Yahoo! Finance
The company will transition into a run-off insurer, which means it will stop issuing new policies and won't renew existing ones, but will continue managing active policies and handling claims over the next several years. According to the Hawaii Insurance Division, DTRIC will begin phasing out its lines of business at the end of this year, with operations expected to continue into 2027 as remaining policies and claims are resolved. “This move reflects the same pressures that are affecting insurers across the country—rising reinsurance costs and Hawaii's increasing exposure to catastrophic risk. Insurers are also pulling back in different areas, not just in Hawaii but elsewhere, as they look to regroup, ” Chief Deputy Insurance Commissioner Jerry Bump said. “It's been a very challenging time for property insurers.” Established in Hawaii in 1992, DTRIC Insurance offers personal lines such as auto, homeowners, renters and umbrella policies. It was the fifth-largest domestic propert
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