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Each different month, Company Checklists “checks in” on the present state of the Industrial Auto Insurance coverage market by way of our bi-monthly updates. This checkup is completed by reviewing the information for this line of insurance coverage, offered courtesy of the Commonwealth Automobile Reinsurers. For these unfamiliar with the Commonwealth Car Reinsurers, “CAR” is the official statistical agent for motorized vehicle insurance coverage within the Commonwealth of Massachusetts.
Our purpose is just to assist these within the trade get a greater sense of the tendencies and actions taking place inside this line of insurance coverage. For our present replace, the information displays the state of the market as of April 2023, the newest date for which full information is at present out there.
So, with out additional ado, the newest numbers comply with beneath:
The Industrial Auto Market in Massachusetts
Exposures & Market Share as of February 2023
| COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|
| 1. COMMERCE | 55,809,169 | 14.76% |
| 2. SAFETY | 50,346,175 | 13.32% |
| 3. ARBELLA | 41,983,992 | 11.11% |
| 4. PROGRESSIVE | 35,718,613 | 9.45% |
| 5. TRAVELERS | 28,881,794 | 7.64% |
| 6. PLYMOUTH ROCK | 16,939,629 | 4.48% |
| 7. FIREMAN’S | 16,084,878 | 4.26% |
| 8. TOKIO MARINE & NACHIDO | 13,367,199 | 3.54% |
| 9. HANOVER | 11,535,059 | 3.05% |
| 10. ZURICH | 10,417,653 | 2.76% |
| 11. SELECTIVE INSURANCE | 9,521,010 | 2.52% |
| 12. LIBERTY MUTUAL IN | 7,713,123 | 2.04% |
| 13. TWIN CITY FIRE INS | 7,273,048 | 1.92% |
| 14. UTICA | 6,658,034 | 1.76% |
| 15. NATIONAL GRANGE | 5,753,761 | 1.52% |
| 16. GREEN MOUNTAIN | 4,446,248 | 1.18% |
| 17. EMPLOYERS MUTUAL | 4,350,526 | 1.15% |
| 18. FEDERATED MUTUAL | 4,239,590 | 1.12% |
| 19. FARM FAMILY | 3,860,606 | 1.02% |
| 20. AMERICAN CASUALTY | 3,847,384 | 1.02% |
| 21. FEDERAL | 3,767,398 | 1.00% |
| 22. N&D MUTUAL | 3,432,359 | 0.91% |
| 23. GREAT AMERICAN | 3,006,062 | 0.80% |
| 24. OLD REPUBLIC | 2,620,510 | 0.69% |
| 25. CENTRAL MUTUAL INS | 2,599,072 | 0.69% |
| 26. US FIRE | 2,282,760 | 0.60% |
| 27. BANKERS | 2,068,180 | 0.55% |
| 28. CINCINNATI | 2,064,701 | 0.55% |
| 29. MERCH MUTUAL | 2,002,515 | 0.53% |
| 30. NEW HAMPSHIRE | 1,800,720 | 0.48% |
| 31. ARCH | 1,698,703 | 0.45% |
| 32. MIDDLESEX INS CO | 1,454,372 | 0.38% |
| 33. QUINCY MUTUAL | 1,147,228 | 0.30% |
| 34. HARLEYSVILLE INS | 1,078,105 | 0.29% |
| 35. MOTORISTS | 860,639 | 0.23% |
| 36. PREFERRED MUTUAL | 826,981 | 0.22% |
| 37. NEW YORK AND GENERAL INS | 736,480 | 0.19% |
| 38. STATE AUTO | 692,842 | 0.18% |
| 39. LANCER INSURANCE CO. | 594,844 | 0.16% |
| 40. SECURITY NATIONAL | 504,491 | 0.13% |
| 41. STARR INDEMNITY | 455,537 | 0.12% |
| 42. IMPERIUM | 415,931 | 0.11% |
| 43. ATLANTIC SPECIALTY | 383,330 | 0.10% |
| 44. GEICO | 376,692 | 0.10% |
| 45. ALLSTATE | 301,722 | 0.08% |
| 46. PENN MNFCT ASSC INS | 299,742 | 0.08% |
| 47. ARGONAUT | 272,384 | 0.07% |
| 48. EVEREST NATIONAL | 200,791 | 0.05% |
| 49. AMERICAN AUTOMOBILE | 177,009 | 0.05% |
| 50. CHURCH MUTUAL | 174,357 | 0.05% |
| 51. PENN LUMBERMENS | 169,363 | 0.04% |
| 52. BERKSHIRE HATHAWAY | 129,239 | 0.03% |
| 53. FALLS LAKE | 125,178 | 0.03% |
| 54. PROTECTIVE | 77,334 | 0.02% |
| 55. GREENWICH | 75,379 | 0.02% |
| 56. AXIS REINSURANCE | 75,337 | 0.02% |
| 57. QBE | 65,365 | 0.02% |
| 58. RLI | 63,613 | 0.02% |
| 59. AMICA MUTUAL | 60,085 | 0.02% |
| 60. STATE FARM | 33,883 | 0.01% |
| 61. SOMPO AMERICA | 32,797 | 0.01% |
| 62. CUMIS | 22,138 | 0.01% |
| 63. MITSUI SUMITOMO | 19,583 | 0.01% |
| 64. GUIDEONE MUTUAL | 19,024 | 0.01% |
| 378,012,266 |
Trying Again: A Comparability on the High 10 Industrial Auto Insurers Over the Years
The next are graphs depicting the state of the Industrial Auto Insurance coverage Market over the previous 10 years. The primary graph reveals the highest 10 Industrial Auto Insurers as of April 2023, as in comparison with related Aprils in 2022, 2021, 2020, and 2019. Following these comparisons, there are two extra comparisons with, one from 5 years in the past in April 2023 after which the final from ten years in the past in April 2013.
Every year might be in contrast by sliding the window to both the left or proper on every of the graph comparisons beneath.
April 2023 v. April 2022
April 2023 v. April 2021
April 2023 v. April 2020
April 2023 v. April 2019
5-Yr Comparability
April 2023 v. April 2018
Ten-Yr Comparability
April 2023 v. April 2018
Previous Market Share Studies
For these taken with reviewing all of our bi-monthly updates all through 2022 to be able to get a way of how the Industrial Auto Insurance coverage market continues to evolve, please discover hyperlinks to Company Checklists’ earlier updates beneath:
2023 Market Share Studies
2022 Market Share Studies
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