commercial auto insurance News

Commercial Auto Insurers Begin to Tap Fleet Telematics Data

Though adopted early by personal lines insurers, telematics is just coming into its own in the commercial auto space, according to Zach Schmiesing, director, Commercial Lines, IoT/Telematics at Verisk Analytics. Commercial insurers are examining the differences in commercial driving behavior …

Pennsylvania School Transit Company, Owner Charged With Insurance Fraud

A school transit contractor with a $2.4 million contract to provide rides to some Pittsburgh, Pa., charter school students has been charged with failing to properly insure some vehicles and hiring drivers with criminal records by ignoring state-mandated background checks. …

Fitch: Commercial Auto Insurance Line Considered a Chronic Underperformer

U.S. commercial auto insurance has evolved into a chronically underperforming product segment for U.S. property/casualty insurers, according to Fitch Ratings. While the P/C industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole …

Commercial Auto Insurer First Keystone Found Insolvent

The South Carolina Department of Insurance last week declared an insurer that specialized in providing commercial auto insurance to be insolvent and the insurer is now being liquidated. The First Keystone Risk Retention Group Inc. wrote taxis and other commercial …

Geico Offering Lowered Rates for Commercial Auto Insurance Plans in New Jersey

New Jersey business owners may now purchase commercial auto insurance directly from Geico, according to Seth Ingall, regional vice president. “Geico is already the leading auto insurer in New Jersey, and because we are now writing commercial auto insurance in …