Over the past five years, commercial auto insurance has experienced the most consistent underwriting results compared to other commercial lines and has generated better results than personal auto, despite the difference in the sizes of the markets, according to a new report from Fitch Ratings. The report examines the financial performance of those markets and the 20 largest market participants. However, declining premium rates over an extended period and declining insured exposure from the economic downturn are causing commercial auto underwriting performance to deteriorate.
“Commercial auto insurance is not only the fourth largest commercial lines insurance segment, but also is a barometer for performance in the broader commercial insurance market,” said Jim Auden, managing director in Fitch's North American Insurance Group.
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