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Keep on Truckin’

The Auto market is looking to enter 2015 on cruise control, which is not necessarily the best news. Pricing remains relatively flat, the chances of negotiating rate cuts are slim, claims severity is increasing on certain fronts, additional competition is entering the market, and the need to underwrite risks carefully...

By Dave Lenckus | Updated on December 01, 2014

The Auto market is looking to enter 2015 on cruise control, which is not necessarily the best news. Pricing remains relatively flat, the chances of negotiating rate cuts are slim, claims severity is increasing on certain fronts, additional competition is entering the market, and the need to underwrite risks carefully is more important than ever. Still, promising new developments on the claims management front, especially with new federal driver regulations and the rising use of telematics, offer a tantalizing glimpse into a market environment that could provide some serious mileage for those who are best suited to take advantage of it.

According to Daniel E. Aronson, New York-based managing director and the U.S. primary casualty placement leader at Marsh USA, Commercial Auto insurers are engaging in significantly different underwriting with every account because the market’s experience is not as strong as it is in other casualty lines.

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