Kinsale Capital Down 1.8% After Short Seller

Kinsale Capital Group (NYSE:KNSL) shares fell 1.8% following a Bear Cave short‑seller report targeting its underwriting practices.
The report alleges Kinsale charges high premiums with extensive exclusions, citing a Dec 2023 Colorado complaint over a $25,427 policy lacking key coverages.
Brad Safalow (PAA Research) said Kinsale targets small firms with $14‑15k premiums and a 60% retention rate, far below the 90% norm.
Bear Cave argues Kinsale’s high margins stem from overpriced, exclusion‑heavy policies enabled by surplus‑line status that bypasses regulatory pre‑approval.