1st Look 2022: The Commercial Auto Insurance Marketplace in Massachusetts

The following is Agency Checklists’ first bi-monthly update of the year, presenting data on the current state of the Commercial Auto Insurance marketplace. Every two months, Agency Checklists reports on the latest data to give a snapshot of the current state of the Commercial Automobile insurance marketplace in Massachusetts.

All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through November 2021. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

The Current Commercial Auto Insurance Marketplace

According to the latest data on the Commercial Auto Insurance marketplace in the Commonwealth, there are currently 193 companies that are licensed to write commercial auto insurance.

Turning to the most active commercial auto insurers in the state, seven of the top 10 commercial auto carriers operating in the Commonwealth continue to be headquartered in Massachusetts. The following is the complete list of Commercial Auto insurers with a major market share in Massachusetts through November 2021.

Highlights from this latest report are as follows:

The top three commercial insurers have a 37.27% share of the marketplace, however, each of the three have a bit smaller market share percentage this year as opposed to this time last year.
For example, number one commercial auto insurer MAPFRE/Commerce has a 14.70% market share this year versus 15.28% as of November 2020; while number two Safety Insurance has a 12.02% market share versus 12.80% at this time last year, and Arbella has a 10.55% share versus 10.88% last November.
Progressive, on the other hand, has moved up a spot from September to November and now occupies the fourth spot with a 7.61% market share. It also has improved its market share from the same time last year where it had a 5.91% market share.
As for the top ten commercial auto insurers, the have a combined 72.13% market share.

The following is the most current list of insurers ranked by premiums and market share:

INSURER	PREMIUMS	MARKET SHARE
1. COMMERCE	138,458,087	14.70%
2. SAFETY	113,207,230	12.02%
3. ARBELLA	99,418,541	10.55%
4. PROGRESSIVE	71,663,195	7.61%
5. TRAVELERS	71,663,195	7.60%
6. PLYMOUTH ROCK	52,990,461	5.62%
7. TOKIO MARINE & NACHIDO	35,497,351	3.77%
8. FIREMAN’S	34,371,127	3.65%
9. LIBERTY MUTUAL INS	32,737,355	3.47%
10. HANOVER	29,563,343	3.14%
11. ZURICH	26,291,786	2.79%
12. SELECTIVE INSURANCE	22,464,822	2.38%
13. UTICA	17,333,037	1.84%
14. NATIONAL GRANGE	13,997,146	1.49%
15. TWIN CITY FIRE INS	13,106,329	1.39%
16. GREAT AMERICAN	12,996,909	1.38%
17. OLD REPUBLIC	11,635,815	1.24%
18. FEDERATED MUTUAL	9,318,188	0.99%
19. FEDERAL	9,081,669	0.96%
20. EMPLOYERS MUTUAL	8,933,354	0.95%
21. GREEN MOUNTAIN	8,591,503	0.91%
22. AMERICAN CASUALTY	8,543,910	0.91%
23. FARM FAMILY	7,839,322	0.83%
24. ARGONAUT INSURANCE COMPANY	7,672,320	0.81%
25. N&D MUTUAL	7,544,898	0.80%
26. NEW HAMPSHIRE	7,494,083	0.80%
27. US FIRE	6,928,291	0.74%
28. BANKERS	5,935,629	0.63%
29. CENTRAL MUTUAL INS	5,466,311	0.58%
30. MERCH MUTUAL	4,580,166	0.49%
31. MIDDLESEX INS CO	4,255,669	0.45%
32. QUINCY MUTUAL	3,945,047	0.42%
33. HARLEYSVILLE INS	3,606,707	0.38%
34. ARCH	3,456,628	0.37%
35. STAR INDEMNITY	3,121,187	0.33%
36. GEICO	2,744,846	0.29%
37. NEW YORK AND GENERAL INS	2,502,085	0.27%
38. MOTORISTS	2,320,020	0.25%
39. PREFERRED MUTUAL	2,188,908	0.23%
40. CINCINNATI	2,090,657	0.22%
41. STATE AUTO	2,057,597	0.22%
42. ALLSTATE	1,299,529	0.14%
43. ATLANTIC SPECIALTY	1,255,320	0.13%
44. IMPERIUM	1,218,291	0.13%
45. LANCER INSURANCE CO.	1,118,683	0.12%
46. EVEREST NATIONAL	1,051,242	0.11%
47. PENN MNFCT ASSC INS	993,649	0.11%
48. GREENWICH	880,014	0.09%
49. CHURCH MUTUAL	669,332	0.07%
50. SOMPO AMERICA	648,827	0.07%
51. AMERICAN AUTOMOBILE	626,474	0.07%
52. SECURITY NATIONAL	611,473	0.06%
53. PENN LUMBERMENS	567,225	0.06%
54. PRIME PROPERTY	492,888	0.05%
55. PROTECTIVE	424,529	0.05%
56. ALLIED WORLD SPECIALTY	421,573	0.04%
57. QBE	371,485	0.04%
58. BERKSHIRE HATHAWAY	367,656	0.04%
59. AXIS REINSURANCE	287,586	0.03%
60. MITSUI SUMITOMO	257,886	0.03%
61. RLI	219,472	0.02%
62. AMICA MUTUAL	212,601	0.02%
63. STARSTONE NATIONAL	174,652	0.02%
64. HARCO NATIONAL	77,395	0.01%
65. AMERICAN ALTERNATIVE	74,335	0.01%
66. STATE FARM	70,149	0.01%
67. GUIDEONE	52,991	0.01%
68. MARKEL	48,598	0.01%
69. CUMIS	44,099	0.00%
70. HDI GLOBAL	26,383	0.00%
71. T.H.E. INS CO	15,998	0.00%
72. AMERICAN HALLMARK	1,989	0.00%
73. AMERICAN FAMILY	416	0.00%
	942,100,140	100.00%

Historical shifts & trends in the Commercial Auto Insurance Marketplace

In order to give some perspective on the shifts in the Marketplace, the three graphs below present the Top Ten Commercial Auto insurers for the month of November 2021, followed by comparisons of past top ten data from five years earlier in November 2016, and then finally from a decade ago in November 2011.

November 2021

November 2016

Novembe 2011

Past Market Share Reports

For those interested in reviewing all of our bi-monthly updates throughout 2020 and 2021, in order to get a sense of how the Commercial Auto Insurance marketplace continues to evolve, please find links to Agency Checklists’ previous updates below: