The Top Ten Writing Commercial Auto Writing Companies Through September 2014
Similar to our recent post on the private passenger automobile insurance market, Agency Checklists will also be taking a look at the Commercial Auto marketplace as well. The aim is to provide a snapshot of what is happening in the market along with a review of the overall shifts and trends that are happening within the private passenger automobile marketplace. The data is provided courtesy of the Commonwealth Automobile Reinsurers, the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
Since the charts speak for themselves, there is limited analysis, let us know if you find this helpful.
The Top Ten As of September 2014, the most recent month for which data is available
- The Commerce Insurance Company (14.6%)
- Safety Insurance Company (13.6%)
- The Travelers Indemnity Co. (13.5%)
- Arbella Mutual Insurance Company (11.4%)
- Liberty Mutual Ins. Co. (5.3%)
- The Hanover Insurance Co. (4.6%)
- Tokio Marine America Insurance Co. (3.8%)
- Fireman’s Insurance Company of Washington (3.7%)
- Progressive Casualty Ins. Co. (2.7%)
- Zurich Ins. Co. (2.5%)
Changes in market share since 2013
Looking at the Final Report of 2013 in comparison with the available data from 2014, one can see how competitive the market for commercial automobile insurance is in Massachusetts. While the Top Ten Companies remained unchanged between 2013 and 2014, the market rank in which they appeared shifted with relatively minor percentage changes. For example, in that nine month time period a .4% decrease in market share moved Travelers’ rank from first position to third position.
A Look at the Top Ten in the Commercial Automobile Marketplace Ten Years Ago
We thought it might be interesting to compare the September 2014 report with the September report 2004, to see the changes in the market over the last ten years.
