Chris Swift: I will – I’ll add some commentary and then maybe I’ll ask Stephanie to add commentary. Brian, I would say we feel good about our data and analytics that we have deployed. But again, the inflationary pressures here is time to repair is wages in these repair shops. There’s just a lot of pressure on the – I’ll call it the economic system. So I don’t think it’s a backlog. I don’t think it’s a surprise or anything that is sort of unusual that you could sort of detect with trend lines. It’s just more expensive to repair cars these days because they have more technology in them and there’s been more severe accidents. It’s driven by higher speed, and then you put the labor constraint onto it. So that’s what I see.
I think our claims team does a fine job, a good job. We got a network of claim specialists that we use that helps out our economics that if to stay in the network. So our customers and our claim handlers are incented to stay within there, but there’s freedom of choice of where a customer would want to get their car repaired too. So that’s what I would say, Stephanie, but what would you add?
Stephanie Bush: I agree with your point on the claim from a prevailed perspective. A couple of additional points I would make, one, we’re live in 22 states and we’re going to roll out, we’ve been rolling out additional four in the month of July. It’s a small portion of our total book because as you know, it’s new business. We are very pleased with the attributes and the quality of that business that we’re writing. It is meeting our expectations. And then the third piece that I would share is as we move forward, as you know, we’ve built that on a six-month auto chassis. And so our ability to continue to get rate and get it in at a bit faster clip is also assisting not only now in this environment, but over the longer term. So overall, we’re really pleased with the business that we’re writing.
Brian Meredith: Great. Thank you.
Operator: Our next question comes from Tracy Benguigui from Barclays. Please go ahead. Your line is open.
Tracy Benguigui: Thank you. Good morning. This is follow up on Mike’s question on loss cost trends. Even though you’re seeing stability on loss trends, what kind of margin you’re building for stuff you’re not seeing now, but maybe on the horizon, like you already spoke about seeing medical severity below your pricing reserving assumption. Any color and stuff like social inflation arise in latent liabilities and claims frequency reverting back it feels like it’s down post pandemic.
Chris Swift: Yes. Tracy, I’m appreciate the question. Obviously, we pick a loss trend that contemplates a lot of the stuff that you talked about. So I can’t break it down by product line for you. But just know that. When we pick trend, particularly by line of business, particularly within GL, it does contemplate a lot of the social aspects that you talked about litigation financing is always top of our mind in some of these areas. And then you look at particularly terms and conditions and things that we’re just not going to be exposed to. The classic example is what we’ve done with pollution over the years with asbestos how you exclude that on an absolute basis even the PFAS chemical these days. There’s exclusions in our policies for those types of exposures again going forward. So again, I think our team is thoughtful from a risk side in trying to manage those long tail either mass tort exposures that you, I think you’re referring to.
Tracy Benguigui: I’m curious, when did you put that PFAS exclusion in your policies? What year?
Chris Swift: I would say four or five years ago. It’s for those – Tracy, it’s for those industries where we think we have the exposure, there might be implicit exposure there. We started in the beginning part of 2022.
