U.S. Commercial Auto Insurance Posts Over $10 Billion in Losses Amid Rising Claims Costs
The U.S. commercial auto insurance sector has experienced significant underwriting losses, totaling over $10 billion in net losses across the past two years. This trend is primarily driven by rising loss severity, higher claims costs, and unfavorable prior-year loss reserve developments. Such financial strain continues to weigh on the overall property and casualty industry, highlighting ongoing challenges within the commercial auto insurance market segment.