During 2021, commercial auto insurance racked up more than $52 billion in direct premiums written, and some $50 billion in direct premium earned, according to data from the National Association of Insurance Commissioners (NAIC).
Overall, commercial insurance prices were up more than 7% during the final quarter of 2021, according to Willis Towers Watson, which reported nearly all commercial lines saw significant price increases during the period.
"The aggregate price increases continue to be strong in the fourth quarter, though for some lines the price increases have tempered to a level similar to 2019," Yi Jing, director, insurance consulting and technology, WTW, said in a release.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
