The term "commercial auto" can cover large fleets of tractor trailers like those owned by major moving companies or just a few delivery vehicles, like the ones owned by the local dry cleaner.
But regardless of the number of vehicles, they all need commercial auto insurance, and fleet owners are seeking the best coverage available. But which carriers should fleet owners consider? The National Association of Insurance Commissioners has ranked the top 25 private commercial auto insurance companies and groups by market share of direct premiums written for 2016, which may provide some guidance.
Direct written premiums totaled close to $33 billion for the top 25, an increase from last year's $31 billion. The top 10 carriers accounted for about 44 percent of the total direct premiums written. The top five carriers totaled 30 percent of the total direct premiums written in the commercial auto insurance industry.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
