I was talking about expense ratio, not loss ratio. Thought that was pretty clear in my post, but too late for me to edit.
Also if expected losses really are 50%, are we really talking about a projected 70% combined ratio? Forgive my skepticism, but that's really hard to pull off, and there's going to be regulatory pressure to take rate if that happens with any consistency.
Also if expected losses really are 50%, are we really talking about a projected 70% combined ratio? Forgive my skepticism, but that's really hard to pull off, and there's going to be regulatory pressure to take rate if that happens with any consistency.