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:
- 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
| RANK | COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|---|
| 1. | COMMERCE | 36,860,778 | 15.89% |
| 2. | SAFETY | 34,373,272 | 14.81% |
| 3. | ARBELLA | 25,215,845 | 10.87% |
| 4. | TRAVELERS | 19,972,535 | 8.61% |
| 5. | PROGRESSIVE | 12,183,242 | 5.25% |
| 6. | PLYMOUTH ROCK | 11,204,135 | 4.83% |
| 7. | FIREMAN’S | 10,685,355 | 4.61% |
| 8. | TOKIO MARINE & NACHIDO | 10,155,377 | 4.38% |
| 9. | HANOVER | 7,775,480 | 3.35% |
| 10. | LIBERTY MUTUAL INS | 7,551,451 | 3.25% |
| 11. | TWIN CITY FIRE INS | 5,587,079 | 2.41% |
| 12. | ZURICH | 4,738,925 | 2.04% |
| 13. | SELECTIVE INSURANCE | 4,731,007 | 2.04% |
| 14. | NATIONAL GRANGE | 3,906,155 | 1.68% |
| 15. | UTICA | 3,690,997 | 1.59% |
| 16. | GREAT AMERICAN | 3,246,196 | 1.40% |
| 17. | AMERICAN CASUALTY | 3,219,419 | 1.39% |
| 18. | FARM FAMILY | 2,410,851 | 1.04% |
| 19. | EMPLOYERS MUTUAL | 2,030,407 | 0.88% |
| 20. | N&D MUTUAL | 1,966,924 | 0.85% |
| 21. | BANKERS | 1,819,301 | 0.78% |
| 22. | GREEN MOUNTAIN | 1,744,051 | 0.75% |
| 23. | FEDERATED MUTUAL | 1,459,162 | 0.63% |
| 24. | CENTRAL MUTUAL INS | 1,454,839 | 0.63% |
| 25. | FEDERAL | 1,326,509 | 0.57% |
| 26. | HARLEYSVILLE INS | 1,304,326 | 0.56% |
| 27. | US FIRE | 1,230,697 | 0.53% |
| 28. | OLD REPUBLIC | 1,222,641 | 0.53% |
| 29. | MERCH MUTUAL | 1,192,438 | 0.51% |
| 30. | QUINCY MUTUAL | 1,106,278 | 0.48% |
| 31. | MIDDLESEX INS CO | 896,913 | 0.39% |
| 32. | MOTORISTS | 779,253 | 0.34% |
| 33. | ARCH | 669,567 | 0.29% |
| 34. | PREFERRED MUTUAL | 592,654 | 0.26% |
| 35. | STATE AUTO | 507,616 | 0.22% |
| 36. | NEW HAMPSHIRE | 482,503 | 0.21% |
| 37. | NEW YORK AND GENERAL INS | 309,979 | 0.13% |
| 38. | PENN MNFCT ASSC INS | 302,950 | 0.13% |
| 39. | ATLANTIC SPECIALTY | 270,553 | 0.12% |
| 40. | CINCINNATI | 263,990 | 0.11% |
| 41. | SOMPO AMERICA | 232,358 | 0.10% |
| 42. | EVEREST NATIONAL | 204,654 | 0.09% |
| 43. | STARR INDEMNITY | 134,543 | 0.06% |
| 44. | CHURCH MUTUAL | 122,565 | 0.05% |
| 45. | GUIDEONE MUTUAL | 94,660 | 0.04% |
| 46. | ARGONAUT INSURANCE COMPANY | 87,370 | 0.04% |
| 47. | RLI | 83,233 | 0.04% |
| 48. | GREENWICH | 78,867 | 0.03% |
| 49. | LANCER INSURANCE CO. | 66,497 | 0.03% |
| 50. | AMICA MUTUAL | 65,938 | 0.03% |
| 51. | AXIS REINSURANCE | 65,237 | 0.03% |
| 52. | BERKSHIRE HATHAWAY | 43,388 | 0.02% |
| 53. | STARSTONE NATIONAL | 40,416 | 0.02% |
| 54. | AMERICAN ALTERNATIVE | 37,853 | 0.02% |
| 55. | QBE | 37,107 | 0.02% |
| 56. | PENN LUMBERMENS | 31,544 | 0.01% |
| 57. | MARKEL | 29,387 | 0.01% |
| 58. | MITSUI SUMITOMO | 29,311 | 0.01% |
| 59. | ALLIED WORLD SPECIALTY | 24,808 | 0.01% |
| 60. | HARCO NATIONAL | 20,964 | 0.01% |
| 61. | IMPERIUM | 17,694 | 0.01% |
| 62. | SECURITY NATIONAL | 16,204 | 0.01% |
| 63. | STATE FARM | 12,429 | 0.01% |
| 64. | AMERICAN AUTOMOBILE | 11,803 | 0.01% |
| 65. | NORTH AMERICAN SPECIALTY | 3,794 | 0.00% |
| 66. | HDI GLOBAL | 375 | 0.00% |
| 232,034,649 | 100.00% |
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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