Commercial Auto Insurance Remains a Loser on the Whole: Fitch

While the property/casualty industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole reported an underwriting loss for the fifth consecutive year in 2015.

In short, U.S. commercial auto insurance has evolved into a “chronically underperforming product segment” for U.S. property/casualty insurers, according to Fitch Ratings.

At the same time, Fitch notes, a number of carriers underwriting the line continue to do well.

Underwriting losses have accelerated with the segment statutory combined ratio rising to approximately 109 for the latest year. The commercial auto combined ratio averaged 106 from 2011-2015, according to analysts at Fitch.
Share on Google Plus

About Oluwa Lasz

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.