U.S. commercial auto insurance premiums increased year over year in the first quarter of 2023, with Liberty Mutual Holding Co. Inc. and Auto-Owners Insurance Co. Inc. posting the biggest growth, according to an S&P Global Market Intelligence analysis.
Tag: commercial auto premiums
Commercial Auto Insurers Face Inflation and Loss Severity, Impacting Positive Growth
According to a new AM Best report, a return to pre-pandemic norms in the nonstandard auto insurance segment in the United States, with higher loss-cost pressures, elevated inflation, and supply chain issues, may counteract recent positive market trends. According to Best’s Market Segment Report, “Inflation and Loss Severity Counteract Tailwind from Pandemic Recovery for Nonstandard… Continue reading Commercial Auto Insurers Face Inflation and Loss Severity, Impacting Positive Growth