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You are here: Home / Insurance News | Massachusetts / Massachusetts Auto Insurance News | Commonwealth Automobile Reinsurers / Third Look 2020: The Commercial Auto Insurance Marketplace In Massachusetts

Third Look 2020: The Commercial Auto Insurance Marketplace In Massachusetts

June 23, 2020 by Agency Checklists

As with our review of the private passenger auto insurance marketplace, this is Agency Checklists’ bi-monthly update on the current state of the commercial automobile insurance marketplace.

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 quick overview of the overall market…

While no new official data on the Commercial Auto Marketplace in Massachusetts is available from the Division of Insurance, the National Association of Insurance Commissioners has issued its annual market share data for the U.S. Commercial Auto marketplace which we have linked to below. 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:

Agency Checklists lists of top commercial auto insurers in the us
  • First Look 2020: The Commercial Auto Insurance Marketplace in Massachusetts
  • Second Look 2020: The Commercial Auto Insurance Marketplace in Massachusetts
  • NAIC 2020 Market Share Report: The Top 25 Commercial Auto Insurers
  • 2019 MA Market Share Report: The Top Commercial Auto Insurance Companies in Massachusetts
  • 1st Look 2019 – The Commercial Auto Insurance Marketplace In Massachusetts
  • 2nd Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
  • 3rd Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
  • 4th Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
  • Last Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts

The following is a list of all the companies writing commercial auto insurance in Massachusetts as of January 2020. Some things to note:

  • In our last look at this market place, Commerce had a 14.66% share, it now has 15.89%.
  • Safety had 13.92% in our Second Look of 2020, while this time around it has 14.81%.
  • The third-largest commercial auto writer Arbella is the only insurer that notified us that it was offering a credit to its commercial insured policyholders as a a result of the COVID-19 pandemic. For those interested in reading our interview with him, please refer to the article, “Arbella Announces The “Arbella Lay-Up Credit” In Response To The COVID-19 Pandemic.”

Commercial Auto Insurance Market Shares

RANKCOMPANYPREMIUMSMARKET SHARE
1.COMMERCE36,860,77815.89%
2.SAFETY34,373,27214.81%
3.ARBELLA25,215,84510.87%
4.TRAVELERS19,972,5358.61%
5.PROGRESSIVE12,183,2425.25%
6.PLYMOUTH ROCK11,204,1354.83%
7.FIREMAN’S10,685,3554.61%
8.TOKIO MARINE & NACHIDO10,155,3774.38%
9.HANOVER7,775,4803.35%
10.LIBERTY MUTUAL INS7,551,4513.25%
11.TWIN CITY FIRE INS5,587,0792.41%
12.ZURICH4,738,9252.04%
13.SELECTIVE INSURANCE4,731,0072.04%
14.NATIONAL GRANGE3,906,1551.68%
15.UTICA3,690,9971.59%
16.GREAT AMERICAN3,246,1961.40%
17.AMERICAN CASUALTY3,219,4191.39%
18.FARM FAMILY2,410,8511.04%
19.EMPLOYERS MUTUAL2,030,4070.88%
20.N&D MUTUAL1,966,9240.85%
21.BANKERS1,819,3010.78%
22.GREEN MOUNTAIN1,744,0510.75%
23.FEDERATED MUTUAL1,459,1620.63%
24.CENTRAL MUTUAL INS1,454,8390.63%
25.FEDERAL1,326,5090.57%
26.HARLEYSVILLE INS1,304,3260.56%
27.US FIRE1,230,6970.53%
28.OLD REPUBLIC1,222,6410.53%
29.MERCH MUTUAL1,192,4380.51%
30.QUINCY MUTUAL1,106,2780.48%
31.MIDDLESEX INS CO896,9130.39%
32.MOTORISTS779,2530.34%
33.ARCH669,5670.29%
34.PREFERRED MUTUAL592,6540.26%
35.STATE AUTO507,6160.22%
36.NEW HAMPSHIRE482,5030.21%
37.NEW YORK AND GENERAL INS309,9790.13%
38.PENN MNFCT ASSC INS302,9500.13%
39.ATLANTIC SPECIALTY270,5530.12%
40.CINCINNATI263,9900.11%
41.SOMPO AMERICA232,3580.10%
42.EVEREST NATIONAL204,6540.09%
43.STARR INDEMNITY134,5430.06%
44.CHURCH MUTUAL122,5650.05%
45.GUIDEONE MUTUAL94,6600.04%
46.ARGONAUT INSURANCE COMPANY87,3700.04%
47.RLI83,2330.04%
48.GREENWICH78,8670.03%
49.LANCER INSURANCE CO.66,4970.03%
50.AMICA MUTUAL65,9380.03%
51.AXIS REINSURANCE65,2370.03%
52.BERKSHIRE HATHAWAY43,3880.02%
53.STARSTONE NATIONAL40,4160.02%
54.AMERICAN ALTERNATIVE37,8530.02%
55.QBE37,1070.02%
56.PENN LUMBERMENS31,5440.01%
57.MARKEL29,3870.01%
58.MITSUI SUMITOMO29,3110.01%
59.ALLIED WORLD SPECIALTY24,8080.01%
60.HARCO NATIONAL20,9640.01%
61.IMPERIUM17,6940.01%
62.SECURITY NATIONAL16,2040.01%
63.STATE FARM12,4290.01%
64.AMERICAN AUTOMOBILE11,8030.01%
65.NORTH AMERICAN SPECIALTY3,7940.00%
66.HDI GLOBAL3750.00%
232,034,649100.00%

A majority of the top Commercial Auto Insurers are Massachusetts-based

Similar to other years, the top three commercial auto insurers in the Commonwealth continue to be Massachusetts-based, Commerce (MAPFRE), Safety, and Arbella, with a combined market share of 41.6%. Out of the top 10 commercial auto carriers operating in the Commonwealth, a total of six are based here in addition to the top three: The Hanover, Plymouth Rock, and Liberty Mutual. The following three graphs show the evolution of this marketplace over the past decade with looks at the makeup in March 2010, March 2015, and March 2020.


March 2010


March 2015


March 2020

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Filed Under: Massachusetts Auto Insurance News | Commonwealth Automobile Reinsurers

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