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Commercial Auto Insurance Faces Fourteenth Year of Losses as Premium Surge Outpaces Safety Gains

Commercial auto insurance has posted underwriting losses for fourteen consecutive years, with the sector accumulating more than $10 billion in net losses over the past two years alone. Among the top 20 commercial auto insurers, fourteen reported combined ratios above 100 in 2024, indicating widespread unprofitability. The industry responded with aggressive rate increases, pushing trucking premiums up an average of 8.3 percent annually between 2017 and 2025—more than double general inflation. Liability premiums climbed nearly 38 percent between 2015 and 2024, reaching record levels. Per-mile costs in excess layers rose 34 to 45 percent from 2021 to 2024. Yet heavy-duty truck crash rates declined 2 percent during that same period. The losses stem largely from underwriting practices that rely on self-certification and instant online pricing, eliminating manual verification of applicant qualifications and actual fleet details.