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Commercial Auto Insurance in the US - Industry Market Research Report

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    Report

  • 52 Pages
  • February 2021
  • Region: United States
  • IBISWorld
  • ID: 4061857

Hit the Road: An Expected Economic Recovery Will Boost Industry Revenue Growth

Increasing prices and an expanding fleet of vehicles have been instrumental to growth of the Commercial Auto Insurance industry's revenue rising during the five-year period to 2019. In conjunction with the domestic consumer vehicle fleet increasing, commercial use of vehicles has steadily risen, enabling industry operators to increase coverage exposure. Investment income has also risen during the period due to a bull market at the beginning of the period for a wide range of asset classes in which industry operators invest. Over the five years to 2024, industry revenue is forecast to rise. Continued improvements in key macroeconomic variables, such as the number of motor vehicle registrations, are expected to benefit industry operators. Additionally, operators are expected to be better able to price the new risks associated with commercial auto insurance. This will enable premium rate hikes to slow without compromising profitability.

This industry provides underwriting coverage for commercial cars, trucks, vans and other vehicles. This coverage is typically excluded from Business Owners’ Policies.

Report Scope


This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources

INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle

PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations

COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization

MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance

KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios

JARGON & GLOSSARY

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Travelers Companies Inc.
  • Progressive Casualty Insurance Company

Methodology

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