U.S. Commercial Auto Insurance Posts 14th Year of Underwriting Losses
Commercial auto insurance in the U.S. continues to face underwriting losses for the 14th year, driven by rising claims costs and under-reserving, according to AM Best.
Commercial auto insurance in the U.S. continues to face underwriting losses for the 14th year, driven by rising claims costs and under-reserving, according to AM Best.
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The U.S. commercial auto insurance line incurs $10 billion in net underwriting losses over two years due to increased claims costs and adverse loss reserve developments, impacting the P/C insurance market.