In spite of the overall industry incurring loss with commercial insurance, few insurers namely progressive manage to make profit. What are the best practices followed by these insurers? Can those be adopted by other insurers in order to bring down their combined ratio below 100?
I’m keeping this article for my clients. Loss ratios on commercial auto are very high, even with all of the double digit rate increases.
I think part of the reason is the weak infrastructure in this country.
In spite of the overall industry incurring loss with commercial insurance, few insurers namely progressive manage to make profit. What are the best practices followed by these insurers? Can those be adopted by other insurers in order to bring down their combined ratio below 100?