The U.S. commercial auto insurance segment faced a substantial setback in 2022, with underwriting losses skyrocketing to $3.3 billion, as revealed by a recent report from AM Best.
This downturn came on the heels of nearly breakeven results in the previous year. Commercial auto insurance has persistently been one of the most underperforming sectors in the property/casualty industry since 2012, consistently recording a higher combined ratio than the broader property/casualty commercial lines industry.
