image credit: nile / Pixabay

Commercial Auto Market Should Improve This Year But Not a Lot: A.M. Best

April 4, 2019

A.M. Best maintains its negative outlook for the U.S. commercial auto insurance market even though its analysts believe it should improve somewhat in 2019.

That forecast stems from commercial auto insurers having taken steps to address their most problematic exposures, while previous years’ loss reserves are still adversely affecting current calendar results, A.M. Best said.

“The rated commercial auto insurers report that they have implemented myriad measures aimed at addressing the issues they considered the most problematic relative to exposures to commercial auto losses, risk management, underwriting and pricing,” the A.M. Best report noted. “Unfortunately, based on industry profit and loss results, these enhanced underwriting pricing measures have yet to improve rate adequacy.”

Read More on Insurance Journal