The Total Direct Written Premium For The Commercial Auto Insurance Marketplace in Massachusetts was $916,026,84
Continuing with our 2020 Market Share Data reports, and in light of our bi-monthly look at the latest CAR Data, the next instalment of our Massachusetts Market Share Report for 2020 focuses on the commercial auto insurance marketplace. As just a reminder, all of our information comes courtesy of the Division of Insurance and includes data from 2018, the last year for which complete information is available.
There are 193 companies writing Commercial Auto Insurance in Massachusetts
Two more companies began writing commercial auto insurance in Massachusetts from 2018 bringing the total to 193 from 191 in 2017. While this is an increase over the 2017 number, it is still way down from the 270 insurers writing commercial auto insurance in 2016.
This is the one of the few lines of business dominated by Massachusetts-based insurers
Similar to the Private Passenger and Homeowners’ Insurance marketplaces, commercial auto is part of the big three – the major lines of insurance dominated by Massachusetts-based insurers. In fact, looking at the chart below, all of the top five writers in this line are Massachusetts-based entities.
Premium and market share for this line of business
Some more data that you might find useful in understanding the commercial auto insurance marketplace:
- The Total Direct Written Premium for the 193 insurers writing this line of business in 2018 was $916,026,841, an increased from 2018 when it was $855,021,922.
- The market share for the top 20 insurers also increased slightly from 67.7% to a 68% share of the marketplace in 2018.
- Total Direct Written Premium for the top 20 writers totaled $623,042,255, up from $578,620,204 in 2017
- The remaining 173 companies claimed Total Direct Written Premium of $292,984,586 representing a 32.0% market share
The complete list of the top 20 insurers in this marketplace…
| NAIC# | Company Name | State | Premium Written/MA | Market Share/MA |
| 34754 | 1. Commerce Ins Co | MA | $125,719,443 | 13.72% |
| 39454 | 2. Safety Ins Co | MA | $92,887,263 | 10.14% |
| 41360 | 3. Arbella Protection Ins Co | MA | $86,792,036 | 9.47% |
| 21750 | 4. Pilgrim Ins Co | MA | $52,163,473 | 5.69% |
| 33618 | 5. Safety Ind Ins Co | MA | $38,553,280 | 4.21% |
| 18058 | 6. Philadelphia Ind Ins Co | PA | $36,290,556 | 3.96% |
| 41840 | 7. Allmerica Fin Benefit Ins Co | MI | $19,951,306 | 2.18% |
| 24260 | 8. Progressive Cas Ins Co | OH | $18,318,475 | 2.00% |
| 19046 | 9. Travelers Cas Ins Co Of Amer | CT | $16,881,018 | 1.84% |
| 31325 | 10. Acadia Ins Co | IA | $15,858,847 1 | 1.73% |
| 16535 | 11. Zurich Amer Ins Co | NY | $15,407,450 | 1.68% |
| 14788 | 12. Ngm Ins Co | FL | $14,025,232 | 1.53% |
| 23035 | 13. Liberty Mut Fire Ins Co | WI | $13,768,129 | 1.50% |
| 25658 | 14. Travelers Ind Co | CT | $12,070,181 | 1.32% |
| 24082 | 15. Ohio Security Ins Co | NH | $11,939,686 | 1.30% |
| 32620 | 16. National Interstate Ins Co | OH | $11,926,567 | 1.30% |
| 25615 | 17. Charter Oak Fire Ins Co | CT | $11,782,101 | 1.29% |
| 40274 | 18. Citation Ins Co | MA | $11,753,774 | 1.28% |
| 21415 | 19. Employers Mut Cas Co | IA | $8,585,104 | 0.94% |
| 25674 | 20. Travelers Prop Cas Co Of Amer | CT | $8,368,334 | 0.91% |
| Total | $916,026,841 | 100% |
Other useful information about the Commercial Auto Insurance marketplace in Massachusetts
In addition to publishing the yearly market share data, Agency Checklists also published a report on the Top 25 Commercial Auto Insurers nationally. Additionally, Agency Checklists also publishes a bi-monthly update on the latest CAR data. The links to our most recent reports are provided below:
- NAIC 2020 Market Share Report: The Top 25 Commercial Auto Insurers
- Third Look 2020: The Commercial Auto Insurance Marketplace In Massachusetts
- Second Look 2020: The Commercial Auto Insurance Marketplace In Massachusetts
- First Look 2020: The Commercial Auto Insurance Marketplace In Massachusetts
Links to other 2020 Massachusetts Market Share Reports
- 2020 MA Market Share Report | Top 20 Auto Insurers
- 2020 MA Market Share Report | Top 20 Fire Insurance
- 2020 MA Market Share Report | Top 20 Homeowners’ Insurers
