Commercial Auto News

Investors in Litigation Financing Target Commercial Auto

Investor-funded litigation is not new but it is expanding its reach in commercial auto cases, according to experts in the field. Panelists at the 2017 Risk Management Summit in Las Vegas, Nev., addressed the growing trend of investor funded litigation …

Once-Stable P/C Insurance Lines Face Headwinds: Guy Carpenter

While the U.S. property/casualty insurance industry is well capitalized and market sentiment is mostly positive, it still faces economic and market-based headwinds that will challenge its profitable growth going forward. In the 2017 edition of the annual report, Plotting a …

Fighting Drivers of Commercial Auto Frequency, Severity

Litigation financing, distracted driving and unexpected verdicts are just some of the factors impacting commercial auto frequency and severity, according to panelists speaking at the 2017 Risk Management Summit this week in Las Vegas. There has been a focus on …

Vegas Risk Management Summit Tackled Commercial Auto, Workers’ Comp And More

One factor driving continuously dismal commercial auto insurance losses is a spate of “nuclear cases” that are plaguing the industry with multi-million lawsuits. The amount of money and resources being put into the legal battlefield over commercial auto lawsuits is …

Starr Cos. Now Offers Commercial Auto Coverages in Canada

Starr Cos. announced it has introduced commercial primary auto coverages in all provinces and territories in Canada. “This allows Starr to better support our primary general liability accounts by offering commercial auto to our insureds,” stated Hano Pak the chief …

Willis Towers Watson: Hurricane Harvey Could Upend Commercial Insurance Prices

Hurricane Harvey could upend a trend of nearly flat commercial insurance prices that has continued since 2015, Willis Towers Watson said in its latest industry survey. “Insurers are bracing for a significant volume of complex commercial property claims, as well …

Liberty Mutual’s Q4 Net Income Takes a Hit from Auto Liability Losses

Liberty Mutual Holding Co.’s 2016 fourth quarter net income declined substantially, due mostly to higher U.S. personal and commercial auto liability losses. But the number was up for the full year. The insurer booked net income of $143 million for …

GMI Insurance Taps Falls Lake as Primary Carrier for Auto Programs

GMI Insurance, a program administrator specializing in commercial auto exposures, has added Falls Lake Insurance Companies as the new primary carrier for its auto programs. Effective Feb. 1, GMI Insurance programs offers mono-line commercial auto policies through Falls Lake. GMI …

Study: 5 of Worst U.S. Truck-Congested Areas Are in Ohio

Five of the country’s 100 worst congested areas for trucks are in the state of Ohio, and three of those areas are in Cincinnati, according to a study. The American Transportation Research Institute has ranked Interstate 71 at I-75 junction …

Truck Crashes on Steep Arkansas Road Lead to More Warning Signs

The state highway department plans more warning signs on a steep, hilly road in the Arkansas Ozarks after several wrecks involving large trucks. In the past 21/2 years, seven trucks have wrecked on a 2-mile stretch of Arkansas 43 near …