Auto physical damage insurers posted their best year in a decade after three straight years of losses, with only one state in the red.
Private passenger auto physical damage insurance returned to profitability in every state but one in 2024, according to the latest data from the National Association of Insurance Commissioners (NAIC), capping a swing of nearly 13 percentage points from the loss insurers reported on the line in 2023.
In its most recent Report on Profitability by Line by State, the NAIC reports that the profit on the insurance transaction for private passenger auto physical damage (APD) coverage
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