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In 2018, the commercial auto's statutory direct written premiums increased 13%. However increasing claims severity, particularly on bodily injury claims, nullify the gains of premium rate increases. (Photo: Shutterstock) In 2018, the commercial auto’s statutory direct written premiums increased 13%.  (Photo: Shutterstock)

For the ninth consecutive year, U.S. property and casualty (P&C) insurers are facing underwriting losses on commercial automobile insurance, which remains among the weakest major commercial lines P&C segments, says a new report from Fitch Ratings.

In 2018, the segment posted a statutory combined ratio of 108%, and as underwriting losses continue, Fitch says insurers can only expect to see moderate improved results in 2019.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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