1st Look 2020: The Commercial Auto Insurance Marketplace in Massachusetts

As with our review of the private passenger auto insurance marketplace, Agency Checklists’ first update of 2020 on the current state of the commercial automobile insurance marketplace takes a look at the penultimate month of 2019, the last date for which complete data is available.

All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market as of November 2019. 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.

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:

The largest commercial auto insurers in Massachusetts

Over the year, Safety and MAPFRE/Commerce have continued 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 and continued to do so for the rest of the year.

For those who are interested, the following is a complete list of all the Commercial Auto Insurers in Massachusetts, ranked by premiums as of November 2019:

COMPANY	PREMIUMS	MARKET SHARE
1. SAFETY	130,991,453	15.35%
2. COMMERCE	128,122,831	15.01%
3. ARBELLA	94,605,578	11.09%
4.TRAVELERS	62,902,656	7.37%
5. PLYMOUTH ROCK	46,410,188	5.44%
6. PROGRESSIVE	39,357,866	4.61%
7. LIBERTY MUTUAL INS	38,991,533	4.57%
8. TOKIO MARINE & NACHIDO	36,417,513	4.27%
9. FIREMAN’S	31,351,146	3.67%
10. HANOVER	30,369,315	3.56%
11. ZURICH	19,708,087	2.31%
12. UTICA	15,183,822	1.78%
13. TWIN CITY FIRE INS	14,774,815	1.73%
14. SELECTIVE INSURANCE	14,574,520	1.71%
15. NATIONAL GRANGE	13,378,332	1.57%
16. GREAT AMERICAN	9,941,451	1.16%
17. FEDERAL	8,571,307	1.00%
18. EMPLOYERS MUTUAL	8,212,085	0.96%
19. AMERICAN CASUALTY	8,089,731	0.95%
20. OLD REPUBLIC	7,894,988	0.93%
21. ARGONAUT INSURANCE COMPANY	7,118,914	0.83%
22. FARM FAMILY	6,987,889	0.82%
23. FEDERATED MUTUAL	6,911,170	0.81%
24. N&D MUTUAL	6,325,629	0.74%
25. US FIRE	5,793,754	0.68%
26. BANKERS	5,531,061	0.65%
27. HARLEYSVILLE INS	4,334,144	0.51%
28. GREEN MOUNTAIN	4,312,569	0.51%
29. QUINCY MUTUAL	3,873,765	0.45%
30. AMERICAN ALTERNATIVE	3,610,995	0.42%
31. CENTRAL MUTUAL INS	3,504,810	0.41%
32. NEW HAMPSHIRE	3,244,957	0.38%
33. MERCH MUTUAL	3,170,801	0.37%
34. MIDDLESEX INS CO	2,939,745	0.34%
35. PROTECTIVE INS	2,538,424	0.30%
36. MOTORISTS	2,522,111	0.30%
37. STARR INDEMNITY	2,420,798	0.28%
38. NEW YORK AND GENERAL INS	2,025,401	0.24%
39. PREFERRED MUTUAL	1,995,367	0.23%
40. STATE AUTO	1,821,767	0.21%
41. LANCER INSURANCE CO.	1,720,889	0.20%
42. ARCH INS	1,648,541	0.19%
43. ATLANTIC SPECIALTY	1,096,124	0.13%
44. AMERICAN AUTOMOBILE	868,299	0.10%
45. GREENWICH INS	841,103	0.10%
46. SOMPO JAPAN INS	682,585	0.08%
47. PENN MNFCT ASSC INS	644,766	0.08%
48. CHURCH MUTUAL	629,840	0.07%
49. SECURITY NATIONAL	529,538	0.06%
50. EVEREST NATIONAL	516,284	0.06%
51. ALLIED WORLD SPECIALTY	434,999	0.05%
52. QBE	423,664	0.05%
53. STARSTONE NATIONAL	371,843	0.04%
54. AXIS INSURANCE CO	328,862	0.04%
55. MITSUI SUMITOMO	302,262	0.04%
56. BERKSHIRE HATHAWAY	261,407	0.03%
57. AMICA MUTUAL	248,800	0.03%
58. THE CINCINNATI INS	228,047	0.03%
59. RLI INS	202,027	0.02%
60. GUIDE ONE MUTUAL	197,836	0.02%
61. HARCO NATIONAL	130,832	0.02%
62. STATE FARM	74,461	0.01%
63. PENN LUMBERMENS	59,742	0.01%
64. MARKEL	59,173	0.01%
65. CUMIS INS SOCIETY	48,106	0.01%
66. T.H.E INSURANCE CO	37,748	0.00%
67. HDI GLOBAL INS	7,424	0.00%
68. AMERICAN FAMILY	597	0.00%