Commercial auto liability posted underwriting losses exceeding $5 billion in each of the past two years, according to AM Best. That makes the transportation insurance sector one of the most pressured in the US property and casualty market. Into that environment, W. R. Berkley Corporation has promoted Paul J. Stock to president of Carolina Casualty, its national transportation insurance unit, effective immediately.
Stock spent more than 20 years in property and casualty insurance before taking the role, with his career focused on the transportation sector. His background spans claims, product management, underwriting, risk management, telematics, and commercial vehicle technology.
He joined Carolina Casualty in early 2025 as divisional president. In that position, he led restructuring efforts across the claims and risk management departments, along with several other functional areas of the business.
W. Robert Berkley, Jr., chairman, chief executive officer, and president of W. R. Berkley Corporation, said Stock had "brought extensive leadership experience and expertise to the business." Berkley added that the company was pleased to see Stock assume the top role to lead the team.
Carolina Casualty holds admitted status in all 50 states and the District of Columbia. That national footprint allows it to serve motor carriers, trucking fleets, and related commercial operators across the country. The unit focuses exclusively on admitted coverage, which requires rate and form filings with state regulators in each jurisdiction.
Commercial auto premiums rose 5.8% in Q1 2026, according to the Council of Insurance Agents and Brokers (CIAB). That marked the 59th consecutive quarter of rate increases for the line. Nuclear verdicts, social inflation, rising repair costs, and deteriorating loss ratios have all contributed to that streak.
The median nuclear verdict in trucking cases reached $51 million in 2024. That figure was up from $44 million in 2023 and $21 million in 2020, according to Marathon Strategies data cited in an Amwins market report. Fourteen of the top 20 commercial auto carriers posted combined ratios above 100% in 2024.
Insurance costs at the 10 largest US trucking companies rose 54.4% between 2021 and 2025. Aggregate revenue at those same firms grew only 9.95% over the same period, according to a Demotech analysis of SEC EDGAR filings. Three of those companies were posting net losses by 2025.
Stock's background in claims and telematics aligns with how carriers have been responding to sustained loss pressure. Brokers and underwriters have pointed to driver monitoring, rapid claims response, and data-driven underwriting as the main levers available to transportation insurers managing severity.
Founded in 1967, W. R. Berkley Corporation ranks among the largest commercial lines writers in the United States. The holding company operates in two segments: Insurance, and Reinsurance and Monoline Excess. Carolina Casualty is one of more than 50 operating units within the Berkley portfolio.
Stock's appointment follows a broader pattern of leadership changes across the Berkley group in 2026. In late June, the corporation named John Enright president of Berkley Specialty London and chief executive officer of W. R. Berkley Syndicate Management Limited, effective July 1, subject to regulatory approval. Kirk A. Parker was appointed president of Berkley North Pacific that same month.
