Sedgwick has launched a direct repair program for heavy equipment, giving insurance carriers a single-provider network to manage repairs of 18-wheelers, refrigerated trucks and other commercial vehicles nationwide. The program extends to commercial trucking the managed-repair model Sedgwick has built on the personal-auto side, where carriers route claims to a contracted network of collision repair […]
U.S. Property/Casualty Industry Posts $84 Billion in Underwriting Gains Across Two Years
Private passenger auto held a combined ratio well below 100 for a second straight year, while commercial auto liability absorbed another $2.0 billion in reserve deficiencies. The U.S. property/casualty insurance industry generated $84 billion in underwriting gains across the past two full calendar years, its strongest showing in a decade and a reversal of the […]
U.S. Commercial Auto Insurance Segment Reported Underwriting Losses of $4.9 Billion Last Year
Commercial auto has generated underwriting losses for 14 straight years. The U.S. commercial auto insurance line continues to burden the overall property and casualty (P/C) industry, accounting for more than $10 billion in net underwriting losses over the past two years, according to a new AM Best report. The Best’s Market Segment Report, Stuck in […]
Ford Pro Insure Now Available in Pennsylvania and Texas
Ford has expanded its Ford Pro Insure commercial auto insurance coverage to businesses in Pennsylvania and Texas. This offering from Ford subsidiary, The American Road Insurance Company (TARIC), powered by Pie Insurance, provides fleet insurance options for small businesses. “We’re making fleet management easy with Ford Pro Insure traditional and usage-based insurance, along with the […]
Ford Pro Insure Expands Commercial Auto Insurance to Indiana and Wisconsin
Insurance joins vehicles, software, charging, service and financing in the suite of products and services available to Ford Pro customers. Ford Pro Insure commercial vehicle insurance is now available in Indiana and Wisconsin. With the addition of Indiana and Wisconsin, Ford Pro Insure is available in five states, including Arizona, Illinois and Tennessee “There are nearly […]
Ford Credit Partners with Pie Insurance for Commercial Vehicle Insurance
Expanding the one-stop shop of products and services offered by Ford Pro to commercial customers, Ford Credit today announced plans to launch Ford Pro Insure, a new commercial auto insurance product powered by Pie Insurance. “Ford Pro customers have come to expect a complete set of products and services that ensure their fleets are the […]
NJM Expands Business Insurance into Pennsylvania
NJM Insurance Group is now writing businessowners policies, corresponding excess and umbrella policies, and commercial auto policies in Pennsylvania. “NJM has earned a reputation as a company committed to fulfilling the insurance needs of its policyholders with the highest levels of service,” said Mitch Livingston, NJM president and CEO. “We are thrilled to bring our […]
Progressive Acquires Commercial Auto Insurer Protective Insurance
The Progressive Corporation (NYSE: PGR) and Protective Insurance Corporation (NASDAQ: PTVCA and PTVCB) announced that they have entered into an agreement for Progressive to acquire all of the outstanding Class A and Class B common shares of Protective for $23.30 per share in cash, for a total transaction value of approximately $338 million. The acquisition […]
Hartford Acquires Commercial Independent Agent Business Of Foremost Insurance
The Hartford announced it has entered into a renewal rights agreement with the Farmers Exchanges to acquire its Foremost-branded small commercial business sold through independent agents. The Hartford Insurance Group was the 14th largest commercial auto insurer in the U.S. with over $603 million in direct premiums written in 2016. The Foremost-branded small commercial independent […]