Commercial auto not expected to return to near-term profitability
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Commercial auto not expected to return to near-term profitability

Farhin Lilywala
September 21, 2022
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With record high economic inflation, continuing supply chain issues and proliferating nuclear verdicts, underwriters and brokers say the commercial auto industry will not reach rate adequacy for at least the next two to three years.

Sources expect rates to increase in the mid-high single-digit range through at least 2023, closer to 15% to 25% for higher-risk clients as insurers seek to address a long period of underwriting losses in the sector.

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Topics

NewsCommercial auto
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Farhin Lilywala
Section Editor, Distribution & Specialty
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