Market Outlook – Commercial Auto Insurance

For over a decade, rising claim frequency and severity have diminished underwriting profitability and generated hardened conditions across the commercial auto insurance segment. Key factors contributing to these market difficulties include surging accident expenses, costly litigation and increasingly unsafe driving habits among commercial drivers. Consequently, the vast majority of policyholders have encountered significant rate hikes…

A distracted delivery driver looks out the passenger-side window.

Preventing Distracted Driving

The Centers for Disease Control and Prevention (CDC) defines distracted driving as engaging in any activity that takes an individual’s attention off the road. Distracted driving is extremely dangerous and can lead to serious consequences. In fact, the National Highway Traffic Safety Administration (NHTSA) reported that distracted driving contributes to nearly 400,000 injuries and 3,000…

Closeup of man's hand on driver's side car door handle

July is National Vehicle Theft Prevention Month

The National Highway Traffic Safety Administration (NHTSA) is raising awareness about vehicle theft prevention for vehicle owners in July. A vehicle is stolen every 32 seconds in the United States, on average. Passenger cars historically account for about 74% of all stolen vehicles. Vehicle theft is a prevalent problem disrupting daily routines, incurring expensive financial…

Large flatbed semi truck moving freight down the highway on a misty morning.

FMCSA Proposes Amendments to Commercial Driver’s License Requirements to Increase Flexibility

On Feb. 2, 2024, the Federal Motor Carrier Safety Administration (FMCSA) announced a notice of proposed rulemaking (NPRM) to increase flexibility for State Driver Licensing Agencies (SDLAs) and commercial driver’s license (CDL) applicants. Comments on the NPRM must be received on or before April 2, 2024. Overview of Proposed Amendments The purpose of the NPRM…

Smiling mother in driver's seat looks at her baby in the rear view mirror.

Tips for Auto Insurance Buyers in 2024

Insurers face challenges in ensuring adequate rates while navigating regulatory restrictions and competition. As a consumer, it’s essential to be knowledgeable about these factors and consider strategies for reducing expenses without sacrificing coverage quality. Auto insurance is an ongoing and nonnegotiable expense for drivers. The following are proven ways to help reduce these costs without…