Cramer: This sector is remarkable!

Property and casualty insurance companies have raised prices by about 15% in the past two years. That means companies like Travelers are beating earnings estimates. However, higher premiums come at a price, namely renewal rates are taking a hit.

Will we see a price war with insurers? On CNBC's "Squawk on The Street" this morning Jim Cramer said this:

There's a sense that maybe there's going to be a bit of a price war in insurance. I don't know. I will tell you this: people are shooting first and then asking questions later and, if there is no price war, you'll go back into these because they have been remarkable performers. It's been one of the best groups all year.

(Related: Travelers to cut auto insurance rates to battle competition)

With that in mind, is there one insurer in particular investors should pay attention to? Yes, says Enis Taner, Global Macro Editor at Taner says one company stands out because it has smart management and is a cheap defensive name.

"In an environment over the last year where investors have been scouring the globe for defensive companies that pay a decent dividend," says Taner, this company is "one of the few remaining stocks that looks like a decent valuation."

(Related: Auto insurers don't play fair with customers, study finds)

Meanwhile, Richard Ross, Global Technical Strategist at Auerbach Grayson, takes a look at the technicals of Taner's pick.

To see Taner and Ross analyze a stock that they think is a good buy, watch the video above.

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