Nationwide Mutual Insurance, a major U.S. carrier in the commercial transportation sector, announced internally to its broker clients that on July 15, it will no longer write commercial transportation business.

According to the announcement, until the company can better manage its commercial lines exposure and claims frequency, the moratorium will remain in effect. The insurer went on to note that all in-force policies will be non-renewed beginning Sept. 1 and that current quotes will be honored for the next 60 days. Nationwide E&S cited catastrophic weather-related losses, inflation and spikes in nuclear verdicts as the catalysts behind exiting the wholesale-driven commercial auto risk market and primary brokerage auto.

“[Unfortunately], strong headwinds brought on by the economic environment, catastrophic weather events and the impacts of inflation continue to impact the entire insurance industry. As a result, Nationwide has announced specific business actions it is taking to mitigate risk and manage the personal and commercial lines portfolios in the current environment.” Nationwide.

The exposures that the commercial trucking industry has grappled with over the past few years have made it incredibly difficult for businesses to remain in control of their risk exposures and frequency of claims. It is expected that carriers who will continue to remain in the commercial transportation space and that are located in states where they are unable to raise rates to sustainable levels, will begin to further reduce policy limits and coverages to better control costs. However, if current market conditions continue to put a financial strain on these carriers, experts predict that other major U.S. insurers will join Nationwide and also begin pulling out of the transportation insurance market.

What does this mean for rates? The latest Willis Tower’s Watson Commercial Lines Pricing Survey released in June showed that the commercial auto sector has reported price increases near or above double digits for the twenty-second consecutive quarter. As more carriers exit the market, experts anticipate that rates will continue to escalate and carrier appetites will become even slimmer, while policy limits, restrictions and coverage options decrease.

“As the trucking industry navigates this shrinking insurance market, it is increasingly important for brokers to partner with a wholesaler that specializes in transportation and that has extensive market availability to assist them in securing replacement coverage that meets the individual needs of their clients,” said Colby Waltenburg, president at Transatlantic Underwriters. “An experienced wholesaler in the commercial trucking sector has the flexibility and wide market reach that can be a huge benefit to brokers who find themselves forced into a corner by today’s current transportation insurance environment – especially when it comes to hard-to-place risks.”

About Transatlantic Underwriters

Transatlantic Underwriters is an innovative transportation wholesaler specializing in the placement of commercial auto liability, auto physical damage and motor truck cargo insurance coverage.

At TAU, transportation is our sole focus — and has been for over 30 years. Our principals and underwriters have over 80 years of combined experience dedicated to the automotive industry, which has earned us a well-respected reputation in the transportation market. This recognition has opened global channels with leading transportation insurance carriers, allowing us to deliver competitive options from a wide variety of markets for North American commercial auto liability, auto physical damage and motor truck cargo insurance.

If you have questions or want to learn more about our products and services, please contact Colby Waltenburg at


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