2006 Nonstandard Auto Insurance Study now available as free download
December 5, 2007
2006 Nonstandard Auto Insurance Study
Clear Insights From a Fuzzy Market
Study Details
Date of Publication: December 2006
Region Covered: United States
Industry & Segment: P & C Insurance: Nonstandard Personal Auto:
Time Period: 2004-2005
Number of Pages: 55
Nonstandard auto insurance (NSA) is a critical segment of the personal lines insurance marketplace. But in recent years, assessing trends in the segment has become an exercise in futility.
How large is the NSA segment? Is it growing or shrinking? Is it more or less profitable than the rest of the auto insurance industry? These are important questions with serious implications for hundreds of insurers.
But no one really knows the answers. Accurate segment-wide data on the nonstandard
auto market is simply unavailable, and anyone who claims otherwise is selling doubtful
merchandise.
This study helps bring a level of clarity to this increasingly fuzzy market segment. It uses published statutory data and other resources to provide a detailed analysis of growth and profitability among ten of the top specialists in the nonstandard auto market.
It will not give you hard and fast numbers on the entire NSA segment. No one can do that. But because the ten companies considered in the analysis write only nonstandard risks, it provides clear, clean insight into general trends in the market.
The study also provides an important benchmark for evaluating individual insurer results, and outlines what it takes to win in the NSA segment. It is important reading for anyone interested in understanding the nonstandard auto market.