Commercial Auto News

Fire Damages, Destroys 5 Texas School Buses, Foul Play Not Suspected

Investigators are trying to determine what sparked a fire that damaged or destroyed five Texas school buses parked in a transportation lot during spring break. A statement from the Coldspring-Oakhurst Independent School District says authorities do not suspect foul play …

Snow Causes 81-Vehicle Highway Pileup in Ohio

Authorities say a blinding, late-afternoon snow squall caused an 81-vehicle pileup on a major highway in central Ohio, but no one was seriously hurt. The crashes left vehicles crunched, tipped over and scattered at odd angles across lanes of Interstate …

‘Dancing with the Stars’ Bus Crashes in Iowa Pileup

Officials say a bus carrying the touring cast and crew of “Dancing with the Stars” was involved in a large pileup during a snow storm in central Iowa, but no one on the bus was seriously hurt. Iowa State University …

Commercial Automobile Remains Sore Spot in P/C: A.M. Best

The performance of the commercial automobile segment continued to deteriorate through third quarter 2017, according to a new A.M. Best report. Commercial auto has been a sore spot in the property/casualty for several years. Commercial auto insurers have tried to …

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 …