---
title: "'Notorious For Not Paying': The Bear Cave Targets Kinsale Capital's Claim Denial Tactics"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285580279.md"
description: "Shares of Kinsale Capital Group Inc (NYSE: KNSL) are under pressure following a short report from The Bear Cave, which claims the company lacks a durable moat and relies on overpriced insurance policies. The report highlights Kinsale's low 60% retention rate, significantly below the industry average, and alleges increased exclusions in policies leading to a reputation for denying claims. Complaints from customers regarding denied claims and unfair charges have also been noted. KNSL shares were trading at $303.89, down from earlier highs of $311, nearing a 52-week low."
datetime: "2026-05-07T15:11:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285580279.md)
  - [en](https://longbridge.com/en/news/285580279.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285580279.md)
---

# 'Notorious For Not Paying': The Bear Cave Targets Kinsale Capital's Claim Denial Tactics

Shares of **Kinsale Capital Group Inc** (NYSE:KNSL) are trending Thursday morning after a short report from **The Bear Cave** alleged the company lacks a durable moat and relies on “overpriced and exclusion-heavy” insurance policies.

The report argues these metrics are fueled by “watered down” products sold to small businesses that often lack financial savvy regarding complex insurance terms.

Benzinga has reached out to Kinsale Capital for comment on the Bear Cave report.

-   Kinsale Capital Group stock is under selling pressure. What’s driving KNSL stock lower?

## Analyzing The KNSL Short Case And Low Retention Rates

A primary concern raised in the report is Kinsale’s 60% retention rate, which The Bear Cave said falls far below the 90% average typically seen in the property-and-casualty insurance sector.

The Bear Cave suggested Kinsale has dramatically expanded the number of exclusions in its policies over the last five years, leading to increased litigation and a reputation for being “notorious for not paying” claims. This strategy is characterized as “charging more for less,” effectively leaving policyholders without real protection when losses occur.

## Customer Complaints, Regulatory Oversight Issues

Public records cited in the report detail numerous complaints, such as an armed security company claiming its policy specifically excluded firearms and professional liability. In another instance, a Colorado smoke shop’s $65,000 burglary claim was denied because an alarm was not set while an employee was still inside the building.

Additionally, small businesses in Georgia and Washington have alleged “unfair and unjust” audit fees and retroactive charges, while **The Capitol Forum** found that Kinsale closes claims without payment at a much higher rate than its industry competitors.

## KNSL Shares Edge Lower Thursday Morning

**KNSL Price Action:** Kinsale Capital shares were up 0.09% at $303.89 at the time of publication on Thursday. The stock is well off the highs of $311 for Thursday’s session and is currently trading near its 52-week low of $300.23, according to Benzinga Pro data.

**Read Also: Moderna Stock Gives Back Early Gains: What's Happening?**

_Image: Shutterstock_

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