2nd Look 2022: The Commercial Auto Insurance Marketplace in Massachusetts

The following is Agency Checklists’ latest bi-monthly update 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.

As always, all of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through January 2022. 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 continue 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:

The top three commercial insurers have a 37.96% share of the marketplace at the start of 2022.MAPFRE/Commerce continues as the top commercial auto insurer in Massachusetts with has a 14.74% market share and 16,195,116 in premiums as of January 2022.Safety and Arbella occupy the second and third spots, respectively, claiming market shares of 11.82% and 11.40%.In the previous report which focused on the end of 2021, there were approximately 73 commercial auto insurers listed by CAR. As of the January 2022, report, however, there are only 47 insurers appearing on CAR”s list.

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

Commercial Auto Insurers in the Massachusetts Marketplace

COMPANYPREMIUMSMARKET SHARE1. COMMERCE16,195,11614.74%2. SAFETY12,985,34611.82%3. ARBELLA12,522,26811.40%4. TRAVELERS9,302,2818.47%5. PROGRESSIVE8,230,4987.49%6. PLYMOUTH ROCK6,203,2365.65%7. TOKIO MARINE & NACHIDO5,613,9645.11%8. FIREMAN’S4,777,1824.35%9. HANOVER4,076,5133.71%10. SELECTIVE INSURANCE3,075,5122.80%11. ZURICH2,793,5232.54%12. TWIN CITY FIRE INS2,226,5412.03%13. LIBERTY MUTUAL INS2,016,2501.84%14. AMERICAN CASUALTY2,013,8621.83%15. EMPLOYERS MUTUAL1,848,5991.68%16. UTICA1,762,2751.60%17. NATIONAL GRANGE1,419,7881.29%18. FARM FAMILY1,303,8501.19%19. FEDERAL1,293,8921.18%20. N&D MUTUAL999,4730.91%21. NEW HAMPSHIRE957,7460.87%22. GREEN MOUNTAIN946,5380.86%23. FEDERATED MUTUAL900,5120.82%24. CENTRAL MUTUAL INS899,0530.82%25. BANKERS883,6160.80%26. MERCH MUTUAL642,8230.59%27. HARLEYSVILLE INS539,0290.49%28. MIDDLESEX INS CO449,7800.41%29. GREAT AMERICAN424,0920.39%30. GEICO397,5720.36%31. US FIRE375,4740.34%32. QUINCY MUTUAL315,8180.29%33. MOTORISTS284,5090.26%34. PREFERRED MUTUAL232,2160.21%35. PENN MNFCT ASSC INS191,9520.17%36. ATLANTIC SPECIALTY169,2000.15%37. NEW YORK AND GENERAL INS149,7660.14%38. STATE AUTO130,9060.12%39. ALLSTATE109,6870.10%40. LANCER INSURANCE CO.80,9130.07%41. BERKSHIRE HATHAWAY40,6290.04%42. AMICA MUTUAL24,6650.02%43. QBE19,2210.02%44. AMERICAN AUTOMOBILE18,4370.02%45. PROTECTIVE16,3820.01%46. PENN LUMBERMENS11,7180.01%47. STATE FARM2,8310.00%TOTALS109,875,054

Focus on the Top Ten Commercial Auto Insurers Over the Years

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 January 2022, followed by comparisons of past top ten data from five years earlier in January 2017, and then finally from a decade ago in January 2012.

January 2022

January 2017

January 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: