Explore the 2024 commercial auto insurance hard market dynamics, including underwriting challenges, telematics use, shifting risk strategies, and emerging cyber risks impacting fleet insurance.

In 2024, commercial auto insurers faced a $4.9 billion underwriting loss driven by an 8% annual increase in claim severity, highlighting persistent challenges from social inflation and risk management in the U.S. market.

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.