The latest statistics from the National Association of Insurance Commissioners indicates that the private passenger auto physical damage insurance returned to profit in 2017.
Data contained in the National Association of Insurance Commissioners (NAIC) report on profitability by insurance line in 2017, released this month, showed some improvement in private passenger auto physical damage (APD) insurance profitability, though incurred losses still remain up considerably since 2005.
This has resulted in declining underwriting profitability from the period 2005 through 2017.
As the chart above shows, incurred losses were 56.7 percent of direct premiums written in 2005 on private passenger APD insurance.
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