4th Look - The Commercial Auto Insurance Marketplace In Massachusetts

The latest numbers on the state of the 2019 Commercial Automobile insurance marketplace in Massachusetts are in…

As with our review of the private passenger auto insurance marketplace, here is Agency Checklists’ fourth update of the year on the current state of the commercial automobile insurance marketplace in 2019.

All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market as of July 2019, the latest date for which there is complete data available. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

A look at the market as a whole…

Official data on the Commercial Auto Marketplace is now available from the Division of Insurance. According to the latest official report from the Division of Insurance (2017), total Direct Written Premium totaled $855,021,922 in 2017, with a total of 191 companies writing Commercial Auto Insurance in the Commonwealth.

The largest commercial auto insurers in Massachusetts

Of that number, the top 20 companies wrote approximately $578,620,204 in Direct Written Premium, equaling a 67.7% share of the market place.
The remaining 171 companies wrote $276,401,718 in Direct Written Premium which translated into a 32.3% market share.

For those interested in comparing this latest update with other information Agency Checklists has published on the Commercial Auto Insurance marketplace, please refer to the following reports:

Safety maintains its position with the largest market share as of July 2019

Similar to past reports, Safety and MAPFRE/Commerce continue to alternate being the leading commercial auto insurer throughout the year. While MAPFRE/Commerce had the higher market share percentage in our 1st Look, Safety took over the top spot in our 2nd Look report for March, as well as our 3rd Look in July, and continues to do so now in our Fourth Look.

This mirrors the pattern seen over the past couple of years. If our readers may remember, in December 2016, Safety briefly had risen to the number one spot to overtake Commerce in the commercial auto insurance sphere. This was reversed by the end of 2017, however, with MAPFRE coming in at number one on this list. All in all, however, the first and second-largest insurers’ difference in this marketplace continues to be almost negligible in 2019.

The following is a complete list of all the Commercial Auto Insurers in Massachusetts, ranked by premiums as of July 2019:

COMPANY	PREMIUMS	MARKET SHARE
1. SAFETY	85,980,527	15.26%
2. MAPFRE/COMMERCE	82,111,917	14.57%
3. ARBELLA	64,708,639	11.49%
4. TRAVELERS	43,976,101	7.81%
5. PLYMOUTH ROCK	30,648,701	5.44%
6. TOKIO MARINE & NACHIDO	28,420,135	5.04%
7. LIBERTY MUTUAL INS	25,044,510	4.45%
8. PROGRESSIVE	24,544,424	4.36%
9. FIREMAN’S	21,536,854	3.82%
10. HANOVER	19,890,202	3.53%
11. ZURICH	12,699,813	2.25%
12. TWIN CITY FIRE INS	10,132,586	1.80%
13. SELECTIVE INSURANCE	10,063,476	1.79%
14. NATIONAL GRANGE	8,861,025	1.57%
15. UTICA	8,602,507	1.53%
16. ARGONAUT INSURANCE COMPANY	5,984,718	1.06%
17. EMPLOYERS MUTUAL	5,543,826	0.98%
18. GREAT AMERICAN	5,449,000	0.97%
19. AMERICAN CASUALTY	5,009,513	0.89%
20. FARM FAMILY	4,877,488	0.87%
21. FEDERAL	4,795,613	0.85%
22. FEDERATED MUTUAL	4,571,273	0.81%
23. US FIRE	4,076,416	0.72%
24. N&D MUTUAL	4,054,033	0.72%
25. BANKERS	3,478,389	0.62%
26. HARLEYSVILLE INS	2,821,862	0.50%
27. QUINCY MUTUAL	2,688,257	0.48%
28. NEW HAMPSHIRE	2,611,931	0.46%
29. OLD REPUBLIC	2,528,508	0.45%
30. GREEN MOUNTAIN	2,463,172	0.44%
31. CENTRAL MUTUAL INS	2,371,609	0.42%
32. MERCH MUTUAL	2,366,603	0.42%
33. STARR INDEMNITY	2,111,618	0.37%
34. MIDDLESEX INS CO	1,905,297	0.34%
35. NEW YORK AND GENERAL INS	1,847,480	0.33%
36. PROTECTIVE INS	1,684,973	0.30%
37. MOTORISTS	1,667,072	0.30%
38. LANCER INSURANCE CO.	1,364,491	0.24%
39. STATE AUTO	1,213,073	0.22%
40. PREFERRED MUTUAL	1,181,580	0.21%
41. ARCH INS	836,403	0.15%
42. ATLANTIC SPECIALTY	828,462	0.15%
43. AMERICAN ALTERNATIVE	731,593	0.13%
44. GREENWICH INS	581,049	0.10%
45. PENN MNFCT ASSC INS	580,886	0.10%
46. SOMPO JAPAN INS	459,077	0.08%
47. AMERICAN AUTOMOBILE	451,425	0.08%
48. QBE	372,995	0.07%
49. STARSTONE NATIONAL	322,935	0.06%
50. EVEREST NATIONAL	291,857	0.05%
51. MITSUI SUMITOMO	270,448	0.05%
52. CHURCH MUTUAL	246,907	0.04%
53. BERKSHIRE HATHAWAY	234,865	0.04%
54. AXIS INSURANCE CO	224,693	0.04%
55. ALLIED WORLD SPECIALTY	189,588	0.03%
56. AMICA MUTUAL	169,013	0.03%
57. GUIDE ONE MUTUAL	167,935	0.03%
58. SECURITY NATIONAL	154,306	0.03%
59. RLI INS	143,604	0.03%
60. MARKEL	56,325	0.01%
61. STATE FARM	47,756	0.01%
62. THE CINCINNATI INS	43,448	0.01%
63. T.H.E INSURANCE CO	33,729	0.01%
64. CUMIS INS SOCIETY	24,308	0.00%
65. PENN LUMBERMENS	20,553	0.00%
66. HARCO NATIONAL	18,749	0.00%
TOTAL	563,392,121	100.00%