2nd Look 2022: The Commercial Auto Insurance Marketplace in Massachusetts

The following is Agency Checklists’ latest bi-monthly update 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.

As always, all of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through January 2022. 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 January 2022.

Highlights from this latest report are as follows:

The top three commercial insurers have a 37.96% share of the marketplace at the start of 2022.
MAPFRE/Commerce continues as the top commercial auto insurer in Massachusetts with a 14.74% market share and 16,195,116 in premiums as of January 2022.
Safety and Arbella occupy the second and third spots, respectively, claiming market shares of 11.82% and 11.40%.
In the previous report which focused on the end of 2021, there were approximately 73 commercial auto insurers listed by CAR. As of the January 2022, report, however, there are only 47 insurers appearing on CAR”s list.

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

Commercial Auto Insurers in the Massachusetts Marketplace

COMPANY	PREMIUMS	MARKET SHARE
1. COMMERCE	16,195,116	14.74%
2. SAFETY	12,985,346	11.82%
3. ARBELLA	12,522,268	11.40%
4. TRAVELERS	9,302,281	8.47%
5. PROGRESSIVE	8,230,498	7.49%
6. PLYMOUTH ROCK	6,203,236	5.65%
7. TOKIO MARINE & NACHIDO	5,613,964	5.11%
8. FIREMAN’S	4,777,182	4.35%
9. HANOVER	4,076,513	3.71%
10. SELECTIVE INSURANCE	3,075,512	2.80%
11. ZURICH	2,793,523	2.54%
12. TWIN CITY FIRE INS	2,226,541	2.03%
13. LIBERTY MUTUAL INS	2,016,250	1.84%
14. AMERICAN CASUALTY	2,013,862	1.83%
15. EMPLOYERS MUTUAL	1,848,599	1.68%
16. UTICA	1,762,275	1.60%
17. NATIONAL GRANGE	1,419,788	1.29%
18. FARM FAMILY	1,303,850	1.19%
19. FEDERAL	1,293,892	1.18%
20. N&D MUTUAL	999,473	0.91%
21. NEW HAMPSHIRE	957,746	0.87%
22. GREEN MOUNTAIN	946,538	0.86%
23. FEDERATED MUTUAL	900,512	0.82%
24. CENTRAL MUTUAL INS	899,053	0.82%
25. BANKERS	883,616	0.80%
26. MERCH MUTUAL	642,823	0.59%
27. HARLEYSVILLE INS	539,029	0.49%
28. MIDDLESEX INS CO	449,780	0.41%
29. GREAT AMERICAN	424,092	0.39%
30. GEICO	397,572	0.36%
31. US FIRE	375,474	0.34%
32. QUINCY MUTUAL	315,818	0.29%
33. MOTORISTS	284,509	0.26%
34. PREFERRED MUTUAL	232,216	0.21%
35. PENN MNFCT ASSC INS	191,952	0.17%
36. ATLANTIC SPECIALTY	169,200	0.15%
37. NEW YORK AND GENERAL INS	149,766	0.14%
38. STATE AUTO	130,906	0.12%
39. ALLSTATE	109,687	0.10%
40. LANCER INSURANCE CO.	80,913	0.07%
41. BERKSHIRE HATHAWAY	40,629	0.04%
42. AMICA MUTUAL	24,665	0.02%
43. QBE	19,221	0.02%
44. AMERICAN AUTOMOBILE	18,437	0.02%
45. PROTECTIVE	16,382	0.01%
46. PENN LUMBERMENS	11,718	0.01%
47. STATE FARM	2,831	0.00%
TOTALS	109,875,054

Focus on the Top Ten Commercial Auto Insurers Over the Years

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 January 2022, followed by comparisons of past top ten data from five years earlier in January 2017, and then finally from a decade ago in January 2012.

January 2022

January 2017

January 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: