Agent Commercial car between a rock and a hard market

The ups and downs of the cyclical arena after multisegmented collectively as commercial auto are nothing new. Despite the years, it designates as “mild” and “hard” stand out in both the length and intensity, along with almost all insurance.

But in 2002, with regard to communications on the bottom line of car is the entire commercial market has tightened, and he finds himself in an “ability to crack.”

“It has to be done, sometimes with several years of very bad results, which takes the market from 2000,” said Robert Hartwig, chief economist at the Insurance Information Institute Inc., New York. “[T] continued until 2001. Then, this property Crunch, poor financial results coming at home, place to sleep in the form of insurance losses and high lead to higher rates of all that was in force before September 11, yet the ability to Crunch and reinsurance companies have significantly increased costs. ”

The companies are now working to reduce their exposure trade vis-à-vis car, according to AM Best, the combined ratio of 115.7 in 2000. In 2001, the estimate is about 115 The estimate for 2002 is that it could, about 110

Even after the inclusion of capital income, “[t] does not allow hats, a company break-even,” said Hartwig. “Some companies have again drawn this important line of communication insurance, because they pulling back lines of communications in general. ”

Hartwig pointed out that in many countries, commercial vehicles are often subject to the same laws as the private sector for automobile insurance and, therefore, rapidly rising medical costs and problems of interference with any escapees cost in countries like New York, Florida, Colorado, Hawaii and Massachusetts. Hartwig also noted that in the areas of automatic communication can be observed, both the largest jury awards and settlements and the largest growing demands fastest.

The market square commercial auto includes several specialized lines and the field of Trucking, even highly fragmented, often used as a model of what’s happening in the automotive communications as a whole. But even if everything is not written, writes auto commercial trucks, Trucking industry has considerable experience some significant changes over the past year.

This certainly creates an environment in which agents, because of their direct relationships with policyholders, with big challenges.

Trucks, a Rollin ‘
In the arena Trucking, “the greatest impact on the market day was the loss of a significant number of competitors,” said Bob Miller, President of Insurance Marketing Corporation of Oregon in Portland area’s largest division but for which a significant amount of business in California. “institution that was left of the rule on the path of increasingly higher rates, and some of them have an idea to raise their prices on Trucking.

Compared to last year, price trends are now much more homogeneous geographically. “The trend is up, all across the country,” said Tom Donnelly, Senior Director, traffic Sentry Insurance, an insurance company in Brookfield, Wis., regarding the automatic communication, specializes in the markets Works Trucking.

Of course, one hears very different examples of how exactly how many premiums have increased, said Hartwig, it is currently about 20 per cent. But back to the old part of 2001, 2000 and 1999, it increased by 11 percent, 3.5 percent and -2 percent, respectively, a trend which, he says, is to say roughly track all lines of communication. “It is right that the post-Sept. 11, some of them are much further ahead than others,” he added.

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