Our second look this year at the shifts in the commercial auto market share
The following are the latest movements and trends in the market share of the top 10 commercial automobile insurance companies in Massachusetts. Like our look at the private passenger auto insurance marketplace, the aim of this article 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 commercial automobile insurance marketplace in the Commonwealth
All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers, the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
Graphs from June 2016, June 2015 and 2006 show market changes
The following charts list the total market share for the majority of commercial auto insurance writers in Massachusetts, followed by the top ten writers by market share as of March 2016.
They are provided for those interested in comparing today’s market leaders with a similar graph from 2006 to see how the Massachusetts commercial automobile insurance market has shifted over the last ten years.
Changes at the top of the top 20 commercial automobile insurers list
The most interesting take-away from this second look at the state of the 2016 commercial automobile insurance marketplace in Massachusetts, is that Safety has claimed the number one spot from Commerce.
In June of this year, Commerce held the top spot with 16.42% of the market share. The insurer, however, has slipped to second place as of June 2016 with 15.37% market share, with Safety claiming the top spot with a total market share of 15.59%.
Please While there are more than 20 carriers that write commercial auto in the Commonwealth, we decided to provide data for only the top 20.
|5. Liberty Mutual Ins.||18,362,941||4.68%|
|8. Tokio Marine & Nachido||11,640,939||2.97%|
|10. Plymouth Rock||9,741,487||2.48%|
|12. National Grange||7,011,033||1.79%|
|13. New Hampshire||6,370,986||1.62%|
|14. Twin City Fire Ins.||6,265,659||1.60%|
|15. Great American||6,020,103||1.54%|
|17. Selective Insurance||5,474,756||1.40%|
|18. Harleysville Ins.||5,356,319||1.37%|
|19. American Casualty||4,533,628||1.16%|
|20. Employers Mutual||3,519,526||0.90%|
A look at the market share for the top 10 companies writing commercial auto insurance in Massachusetts
Compare above with the top ten commercial auto insurance companies in Massachusetts a decade ago (2006)