21 May Commercial Auto Sees Best Results in a Decade, but Future Profits Remain Uncertain
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Further, the combined ratio of 101.6% for 2020 was nearly 8% better than the 2019 rate. However, the sector’s future profitability may be challenged as driving activity returns to normal, according to a recent report from Fitch Ratings.
The commercial auto industry reported the best underwriting result in a decade, with a 26% decrease in total reported claims.