On-Hook avg cost per claim

Nov 28, 2018

  1. Chris Gregorio
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    Chris Gregorio New Member

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    I'm hoping someone has a resource for what the average loss ratio and cost per claim might be for 'on-hook' coverages.

    Thank you very much for any insight or resources.
     
  2. adjusterjack
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    adjusterjack Guru

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    A national association for that industry might have compiled those figures.

    Otherwise, you'll probably have to go to each insurance company for its own data.
     
  3. Chris Gregorio
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    Chris Gregorio New Member

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    thanks adjusterjack. I'm working on that resource too! This exposure has been insanely difficult to develop any info on. I've reached out to a couple of carriers.

    Thanks again.
     
  4. Markthebroker
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    Markthebroker Guru

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    The commercial auto market is in chaos. The trucking market, more so. With people fiddling with their cell phones and other devices while they are driving, the number of accidents are skyrocketing. Because of all the cameras and sensors in the new cars now, the cost to repair is going up.

    I just sent out a Progressive renewal. Up 27%. I've been emailing Amtrust over the last 2 days. Commercial auto rates are increasing 30-45%, and they have stopped covering incidental towing. Many markets are pulling out of commercial auto and towing.

    You will not get an accurate number. If you are really really lucky, you might get a number that was close at one point recently.
     
  5. adjusterjack
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    adjusterjack Guru

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    Might help to know why you want that information.
     
  6. myfakename
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    myfakename Super Genius

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    As a guy who insures several wrecker services, for a decade: they are losers when it comes to claims. maybe not on-hook specifically, i like writing them as an agent, but if i was a company there is no way id write a wrecker.
     
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