Largest Lines of Insurance in Massachusetts as Measured by Premium
The following is a list of the largest lines of insurance in Massachusetts, published by the NAIC in 2023. The list represents the total premium for each line of insurance as of 2022, the latest date for which complete date is available. In addition, the ranking illustrates where each Massachusetts line of insurance ranks nationally amongst the 50 states.
Largest Lines of Insurance in the Commonwealth
Based on the data below, the highest ranked line of insurance in the Commonwealth, as ranked by premium is the Products liability‐Claims Made. This line of insurance is ranked as the second largest in the nation, as ranked by premium, with a Premium Written in Massachusetts during 2022 of $57,299,456. Following that both the Fidelity and Medical professional‐Occurance lines make up the second largest markets here with each ranking as the sixth largest in the nation for their respective lines.
Other, Commercial multi-peril, and Private Flood are all ranked as the eight-largest marketplaces in their respective lines of insurance based on 2022 premium. With respect to commercial multi-peril premium, it claims a 3.01% of the U.S. market, while the private flood market has a 2.59% of the U.S. market. Nationally, Massachusetts ranks 9th in federal flood premium with a 1.84% share of the U.S. market.
And, while the Automobile line of insurance continues to be the largest line of insurance in Massachusetts based on premium written, overall Massachusetts ranks as the 16th largest marketplace in the nation as ranked by Premium Written in 2022.
The following is a complete list of all the lines of insurance in Massachusetts as ranked by premium written.
Line of BusinessPremium WrittenState Rank% of USAutomobile$6,873,646,063162.03%Other$3,584,852,75283.04%Homeowners’ multiple peril$3,067,077,002142.29%Commercial multi-peril$1,659,677,90483.01%Workers’ compensaƟon$1,350,910,095122.24%Ocean & Inland Marine$963,713,288122.53%Fire$428,482,831142.04%Allied lines$410,591,239131.87%Medical professional‐Claims Made$256,938,028102.77%Surety$182,289,129152.15%Accident & Health$129,954,389191.73%Mortgage guaranty$114,436,939182.04%Medical professional‐Occurance$106,613,47064.04%Products liability‐Occurance$93,717,061152.34%Fidelity$58,542,60864.01%Products liability‐Claims Made$57,299,45626.56%Credit$55,044,881102.08%Boiler and machinery$52,372,722162.24%Federal flood$51,148,95591.84%Aircraft (all perils)$47,821,243191.80%Earthquake$42,251,545191.01%Private Flood$32,668,36582.59%Burglary and theft$14,269,122122.55%Farm$9,938,449460.04%Financial guaranty$4,496,100151.24%Crop$0430.00Total$19,648,887,965122.26%All data courtesy of the NAIC
