Assurant AIZ Sharing Economy Insurance Product — Prior years
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Where this comes from
Reported directly by Assurant in its filing.
Tagged under the XBRL concept us-gaap:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense.
The source filing: Assurant’s 10-K, filed February 19, 2026.
- Filed
- Feb 19, 2026, 4:19 PM EST
- Fiscal year
- FY2025
- Accession
- 0001267238-26-000010
For the years ended December 31, 2025, 2024 and 2023, non-core operations contributed net unfavorable loss development of $3.0 million, $13.6 million, and $40.1 million, including $0.0 million, $1.3 million and $(0.5) million from small commercial and $3.0 million, $12.3 million and $40.6 million from sharing economy products, respectively. The Company stopped writing new small commercial business in 2019 and the claims are in runoff. In 2023, the Company entered into a retroactive reinsurance treaty to cover certain known losses and adverse development up to a $50.0 million aggregate limit, relating to the small commercial business. For the year ended December 31, 2025, the net unfavorable development was primarily attributable to sharing economy due to the deterioration in the anticipated portion and amount of claims exceeding the per policy deductible. For the year ended December 31, 2024, the net unfavorable development in sharing economy was attributable to reserve increases related to higher settlement values, primarily for accident years 2019 and 2020. For the year ended December 31, 2023, the net unfavorable development from sharing economy was driven by emerging adverse claim development trends on known claims as well as reserve assumption revisions to reflect relevant industry benchmarks.
Item 16. Form 10-K Summary
FAQ
- What is Assurant's sharing economy insurance product — prior years?
- Assurant (AIZ) reported sharing economy insurance product — prior years of $750K in Q4 2025.
- How has Assurant's sharing economy insurance product — prior years changed year-over-year?
- Assurant's sharing economy insurance product — prior years decreased by 75.6% year-over-year, from $3.08M to $750K.
- What is the long-term trend for Assurant's sharing economy insurance product — prior years?
- Over 4 years (2021 to 2025), Assurant's sharing economy insurance product — prior years has grown at a -19.4% compound annual growth rate (CAGR), from $7.1M to $3M.
- What does sharing economy insurance product — prior years mean?
- This metric represents the cumulative financial impact of claims and loss adjustment expenses originating from insurance policies written in previous reporting periods for the sharing economy product line. It reflects the development of reserves for claims that occurred in prior years but were settled or re-estimated during the current period. This figure is critical for assessing the long-term underwriting accuracy and the adequacy of historical loss reserves for specialized gig-economy insurance offerings.
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