AM Best projects 98% COR for auto industry in 2021
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AM Best projects 98% COR for auto industry in 2021

New cars parking at dealership
New cars parking at dealership.baona/Getty Images/iStockphoto

AM Best is expecting Covid-19 frequency benefits to extend through 2021 and private passenger auto insurers to report a combined ratio of 98% for the period.

In research note on Thursday, the ratings agency highlighted the decline in the use of US roadways, which is expected to continue throughout the year, and said this is likely to extend carriers’ favorable loss frequency trend.

“Personal

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