Commercial auto rates expected to climb 5%-10% in 2022 and 2023
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Commercial auto rates expected to climb 5%-10% in 2022 and 2023

Farhin Lilywala
March 01, 2022
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As claims frequency approaches pre-pandemic levels, underwriters and brokers agree that commercial auto insurers will continue to raise rates in the mid-high single-digit range for at least the next two years as the line contends with increased parts costs, labor shortages, social inflation and unsafe driving.

Sources expect some relief in the longer term as more commercial auto companies adopt telematics and technological solutions, and as insurers require more stringent safety statistics to underwrite policies.

Commercial

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News Commercial lines Commercial auto Rates
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Farhin Lilywala
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