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2022 Commercial Auto Insurance Market Outlook

Commercial Coverage

Over the past decade, the commercial auto space has been largely unprofitable for insurance carriers. According to a recent report from AM Best, commercial auto underwriters saw more than $22 billion in underwriting losses between 2011 and 2020, despite underwriters increasing premium pricing for 41 consecutive quarters. Various factors have led to this poor underwriting performance, including litigation trends, driver shortages, unsafe driving habits and surging accident expenses. In 2022, most policyholders are predicted to have a more difficult renewal process because of greater premium rates, lowered capacity and more stringent policy restrictions. Insureds with larger fleets or a poor loss history may experience greater rate increases.

Developments and Trends to Watch

Tips for Insurance Buyers

2022 Price Prediction

Overall: +10% to 25%

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