This marks the third installment of Agency Checklists’ latest bi-monthly update on the current state of the Commercial Auto Insurance marketplace in Massachusetts. 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 March 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 State of the 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 March 2022.
Highlights from this latest report are as follows:
- While our Second Look reported only 47 commercial insurers appearing on the list for the January 2022 market share look, as of March 2022, the number of commercial auto insurers has increased to 67.
- MAPFRE/Commerce continues to be the top commercial auto insurer in the Commonwealth with $37,901,403 in premiums after the first three months of 2022 representing a 14.58% market share.
The following is the most current list of insurers ranked by premiums and market share:
Commercial Auto Insurers in the Massachusetts Marketplace
| COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|
| 1. COMMERCE | 37,901,403 | 14.58% |
| 2. SAFETY | 33,324,553 | 12.82% |
| 3. ARBELLA | 29,174,344 | 11.22% |
| 4. PROGRESSIVE | 23,636,481 | 9.09% |
| 5. TRAVELERS | 19,201,670 | 7.39% |
| 6. PLYMOUTH ROCK | 13,209,511 | 5.08% |
| 7. TOKIO MARINE & NACHIDO | 10,385,450 | 4.00% |
| 8. FIREMAN’S | 10,157,292 | 3.91% |
| 9. HANOVER | 7,757,980 | 2.98% |
| 10. ZURICH | 6,255,641 | 2.41% |
| 11. SELECTIVE INSURANCE | 6,191,163 | 2.38% |
| 12. LIBERTY MUTUAL INS | 5,564,250 | 2.14% |
| 13. TWIN CITY FIRE INS | 5,098,419 | 1.96% |
| 14. UTICA | 4,509,391 | 1.73% |
| 15. NATIONAL GRANGE | 3,911,400 | 1.50% |
| 16. AMERICAN CASUALTY | 2,979,791 | 1.15% |
| 17. EMPLOYERS MUTUAL | 2,958,774 | 1.14% |
| 18. GREEN MOUNTAIN | 2,819,369 | 1.08% |
| 19. GREAT AMERICAN | 2,769,962 | 1.07% |
| 20. OLD REPUBLIC | 2,705,582 | 1.04% |
| 21. FARM FAMLY | 2,646,631 | 1.02% |
| 22. N&D MUTUAL | 2,423,561 | 0.93% |
| 23. FEDERAL | 2,206,299 | 0.85% |
| 24. NEW HAMPSHIRE | 2,141,389 | 0.82% |
| 25. CENTRAL MUTUAL INS | 1,854,652 | 0.71% |
| 26. FEDERATED MUTUAL | 1,808,833 | 0.70% |
| 27. BANKERS | 1,587,665 | 0.61% |
| 28. MERCH MUTUAL | 1,497,316 | 0.58% |
| 29. CINCINNATI | 1,339,531 | 0.52% |
| 30. ARCH | 1,325,659 | 0.51% |
| 31. US FIRE | 1,307,512 | 0.50% |
| 32. HARLEYSVILLE INS | 1,086,529 | 0.42% |
| 33. QUINCY MUTUAL | 1,000,109 | 0.38% |
| 34. MIDDLESEX INS CO | 898,829 | 0.35% |
| 35. MOTORISTS | 690,309 | 0.27% |
| 36. PREFERRED MUTUAL | 639,861 | 0.25% |
| 37. STATE AUTO | 543,916 | 0.21% |
| 38. LANCER INSURANCE CO. | 543,832 | 0.21% |
| 39. IMPERIUM | 505,815 | 0.19% |
| 40. GEICO | 454,808 | 0.17% |
| 41. NEW YORK AND GENERAL INS | 368,853 | 0.14% |
| 42. ALLSTATE | 302,157 | 0.12% |
| 43. ATLANTIC SPECIALTY | 246,434 | 0.09% |
| 44. PENN MNFCT ASSC INS | 238,066 | 0.09% |
| 45. ARGONAUT | 236,127 | 0.09% |
| 46. EVEREST NATIONAL | 207,035 | 0.08% |
| 47. CHURCH MUTUAL | 183,280 | 0.07% |
| 48. SOMPO AMERICA | 180,499 | 0.07% |
| 49. STARR INDEMNITY | 166,320 | 0.06% |
| 50. PENN LUMBERMENS | 144,429 | 0.06% |
| 51. GREENWICH | 112,822 | 0.04% |
| 52. AXIS REINSURANCE | 66,040 | 0.03% |
| 53. RLI | 65,631 | 0.03% |
| 54. AMERICAN AUTOMOBILE | 59,294 | 0.02% |
| 55. SECURITY NATIONAL | 53,539 | 0.02% |
| 56. AMICA MUTUAL | 52,018 | 0.02% |
| 57. PROTECTIVE | 48,907 | 0.02% |
| 58. BERKSHIRE HATHAWAY | 42,508 | 0.02% |
| 59. QBE | 30,193 | 0.01% |
| 60. HDI GLOBAL | 26,383 | 0.01% |
| 61. CUMIS | 25,501 | 0.01% |
| 62. GUIDEONE MUTUAL | 19,188 | 0.01% |
| 63. MITSUI SUMITOMO | 17,757 | 0.01% |
| 64. FALLS LAKE | 15,390 | 0.01% |
| 65. STATE FARM | 7,765 | 0.00% |
| 66. ALLIED WORLD SPECIALTY | 2,092 | 0.00% |
| 67. AMERICAN HALLMARK | 421 | 0.00% |
| TOTALS | 259,934,131 |
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 March 2022, followed by comparisons of past top ten data from five years earlier in March 2017, and then finally from a decade ago in March 2012.
March 2022
March 2017
March 2012
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:
2022 Market Share Reports
2021 Market Share Reports
2020 Market Share Reports
