Focus Series: Commercial Automobile Insurance - Medicine for an Ailing Patient
Conning is Proud to Announce its Newest Focus Series-
Commercial Automobile Insurance–Medicine for an Ailing Patient
HARTFORD, CT – November 16, 2020 – Commercial automobile insurance results have been troubled for over a decade. With a combined ratio averaging 107% since 2010 and underwriting losses more than $20 billion, commercial auto is the poorest-performing commercial insurance line.
The Conning Focus Series, “Commercial Automobile Insurance–Medicine for an Ailing Patient” analyzes drivers of commercial auto’s continued underperformance and presents solutions to restore the line to health. The analysis identifies and explores root causes of commercial auto’s underperformance, some of which are underappreciated or overlooked. Because the causes of the line’s poor results are multi-faceted, the road to recovery must be pursued on multiple fronts.
“The main tool commercial auto insurers deploy to improve results is increasing rates. Rate increases alone are not enough to get ahead of loss costs, which are often driven by liability claim inflation.” said Jerry Theodorou, a Director, Insurance Research at Conning.
“Insurers must recognize practices that inflate claims, call them out, and deal with them. Insurers that understand and address the root causes of claim inflation will be the first to get their commercial auto portfolios back to profitability,” added Steve Webersen, Head of Insurance Research.
“Commercial Automobile Insurance–Medicine for an Ailing Patient” is available for purchase from Conning by calling (888) 707-1177 or by visiting www.conningresearch.com.
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Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
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