1st Look 2022: The Commercial Auto Insurance Marketplace in Massachusetts

The following is Agency Checklists’ first bi-monthly update of the year, presenting data on the current state of the Commercial Auto Insurance marketplace. Every two months, Agency Checklists reports on the latest data to give a snapshot of the current state of the Commercial Automobile insurance marketplace in Massachusetts.

All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through November 2021. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

The Current Commercial Auto Insurance Marketplace

According to the latest data on the Commercial Auto Insurance marketplace in the Commonwealth, there are currently 193 companies that are licensed to write commercial auto insurance.

Turning to the most active commercial auto insurers in the state, seven of the top 10 commercial auto carriers operating in the Commonwealth continued to be headquartered in Massachusetts. The following is the complete list of Commercial Auto insurers with a major market share in Massachusetts through November 2021.

Highlights from this latest report are as follows:

Progressive moves up a spot from September to November and now occupies the fourth spot with a 7.61% market share.The top three commercial insurers have a 37.27% share of the marketplace.Whereas the top ten commercial auto insurers have a 72.13% market share.

The following is the most current list of insurer ranked by premiums and market share:

INSURERPREMIUMSMARKET SHARE1. COMMERCE138,458,08714.70%2. SAFETY113,207,23012.02%3. ARBELLA99,418,54110.55%4. PROGRESSIVE71,663,1957.61%5. TRAVELERS71,663,1957.60%6. PLYMOUTH ROCK52,990,4615.62%7. TOKIO MARINE & NACHIDO35,497,3513.77%8. FIREMAN’S34,371,1273.65%9. LIBERTY MUTUAL INS32,737,3553.47%10. HANOVER29,563,3433.14%11. ZURICH26,291,7862.79%12. SELECTIVE INSURANCE22,464,8222.38%13. UTICA17,333,0371.84%14. NATIONAL GRANGE13,997,1461.49%15. TWIN CITY FIRE INS13,106,3291.39%16. GREAT AMERICAN12,996,9091.38%17. OLD REPUBLIC11,635,8151.24%18. FEDERATED MUTUAL9,318,1880.99%19. FEDERAL9,081,6690.96%20. EMPLOYERS MUTUAL8,933,3540.95%21. GREEN MOUNTAIN8,591,5030.91%22. AMERICAN CASUALTY8,543,9100.91%23. FARM FAMILY7,839,3220.83%24. ARGONAUT INSURANCE COMPANY7,672,3200.81%25. N&D MUTUAL7,544,8980.80%26. NEW HAMPSHIRE7,494,0830.80%27. US FIRE6,928,2910.74%28. BANKERS5,935,6290.63%29. CENTRAL MUTUAL INS5,466,3110.58%30. MERCH MUTUAL4,580,1660.49%31. MIDDLESEX INS CO4,255,6690.45%32. QUINCY MUTUAL3,945,0470.42%33. HARLEYSVILLE INS3,606,7070.38%34. ARCH3,456,6280.37%35. STAR INDEMNITY3,121,1870.33%36. GEICO2,744,8460.29%37. NEW YORK AND GENERAL INS2,502,0850.27%38. MOTORISTS2,320,0200.25%39. PREFERRED MUTUAL2,188,9080.23%40. CINCINNATI2,090,6570.22%41. STATE AUTO2,057,5970.22%42. ALLSTATE1,299,5290.14%43. ATLANTIC SPECIALTY1,255,3200.13%44. IMPERIUM1,218,2910.13%45. LANCER INSURANCE CO.1,118,6830.12%46. EVEREST NATIONAL1,051,2420.11%47. PENN MNFCT ASSC INS993,6490.11%48. GREENWICH880,0140.09%49. CHURCH MUTUAL669,3320.07%50. SOMPO AMERICA648,8270.07%51. AMERICAN AUTOMOBILE626,4740.07%52. SECURITY NATIONAL611,4730.06%53. PENN LUMBERMENS567,2250.06%54. PRIME PROPERTY492,8880.05%55. PROTECTIVE424,5290.05%56. ALLIED WORLD SPECIALTY421,5730.04%57. QBE371,4850.04%58. BERKSHIRE HATHAWAY367,6560.04%59. AXIS REINSURANCE287,5860.03%60. MITSUI SUMITOMO257,8860.03%61. RLI219,4720.02%62. AMICA MUTUAL212,6010.02%63. STARSTONE NATIONAL174,6520.02%64. HARCO NATIONAL77,3950.01%65. AMERICAN ALTERNATIVE74,3350.01%66. STATE FARM70,1490.01%67. GUIDEONE52,9910.01%68. MARKEL48,5980.01%69. CUMIS44,0990.00%70. HDI GLOBAL26,3830.00%71. T.H.E. INS CO15,9980.00%72. AMERICAN HALLMARK1,9890.00%73. AMERICAN FAMILY4160.00%942,100,140100.00%

Historical shifts & trends in the Commercial Auto Insurance Marketplace

In order to give some perspective on the shifts in the Marketplace, the three graphs below present the Top Ten Commercial Auto insurers for the month of November 2021, followed by comparisons of past top ten data from five years earlier in November 2016, and then finally from a decade ago in November 2011.

November 2021

November 2016

Novembe 2011

Past Market Share Reports

For those interested in reviewing all of our bi-monthly updates throughout 2020 and 2021, in order to get a sense of how the Commercial Auto Insurance marketplace continues to evolve, please find links to Agency Checklists’ previous updates below: