Craig Smiddy: Well, as best we can. We keep a very close eye on it and I would refer to our track record, vis-a-vis our competitors, it’s the industry. I think we’re one of the very few that has prior year favorable development on commercial auto because we got in early, recognize and I’m going back four or five years, recognize the severity trend, achieve the rate increases above or at those severity trends which is why we were able to produce such levels of favorable development in those prior years. So I think our track record speaks for itself that you just look at the level of favorable reserve development from those prior years as a result of us keeping up with trends and the action we took on accident year ’23 in the Q4 was because it’s doing exactly what we say we do it, but we see something we [Technical Difficulty]
Operator: Ladies and gentlemen, this is the operator. We are experiencing technical difficulties. Please stand by. This is the operator. I’m just, reconnecting.
Craig Smiddy: Okay. Great. Thank you. Connection and we apologize to everyone for that. So I’ll just pick up with that last question about severity on the commercial auto. Again, we think our track record speaks for itself. We, unlike most of our competitors, have had favorable prior year reserve development on commercial auto. And, why that is the case is because four, five years ago, when severity started to come through, we reacted with rates and risk selection and, produced those strong accident year results that led to favorable development. So we’re very quick to react. When we when we see severity coming through, and the rate increases that we’ve had over the last many years, has demonstrated in the numbers that, we do a very good job of noticing severity and reacting to severity, particularly with making sure that our rate changes are commensurate with that severity or even in excess of that severity that we’re observing.
So, I’ll leave it at that. Are there any other questions?
Operator: We have no further questions in queue. I would like to turn the call back over to management for closing remarks.
Craig Smiddy: Okay. Well, thank you everyone very much. Again, we apologize for that technical glitch, but we appreciate your patience, we appreciate your support. And, we had a strong 2023, and we are very optimistic as we head into ’24, that 2024 will be a very strong year as well. Thank you all very much.
Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.
