Commercial Lines

The commercial auto insurance segment recorded its first underwriting loss in eight years in 2011 due to a combination of declining premiums, increasing claims severity and a reduction in favorable prior-year reserve releases, a new report states.

State Auto Financial Corporation will see a dramatic drop in third-quarter catastrophe losses, but the insurer says it must increase reserves for prior periods due to adverse claims development in a commercial auto trucking program that the company canceled as April 1, 2012.

Insured losses resulting from natural catastrophes in the U.S. and Europe totaled just over $280 million during September, says a new report.

Commercial-lines rates continued to climb in September, rising by 5 percent compared to the same month a year ago, according to MarketScouts latest analysis.

Global property and casualty insurance rates increased by less than one percent for major lines during the third quarter this year, indicating that prices may be stabilizing, says a report from insurance broker Marsh.

Global property and casualty insurance rates increased by less than one percent for major lines during the third quarter this year, indicating that prices may be stabilizing, says a report from insurance broker Marsh.