Top 25 U.S. Medical Professional Liability Insurers | NAIC 2023 Market Share Report
You are here: / / Top 25 U.S. Medical Professional Liability Insurers | NAIC 2023 Market Share Report
The National Association of Insurance Commissioners has issued its annual Market Share Data Reports for both the Property & Casualty Insurance Marketplace, as well as for the Life & Fraternal Insurance Marketplace. As in the past, the data offered here reflects a compiled list of market share data based upon filings of countrywide premium submitted to the NAIC from Property & Casualty insurers as reported on the State Page of the NAIC’s annual statement for insurers.
The data is then compiled and included in various reports on cumulative market share data for the seven major lines of insurance in the United States: All lines; Private Passenger Personal Auto; Commercial Auto; Workers’ Compensation; Medical Professional Liability; Homeowners’ Multi-Peril, and Other Liability (excluding auto liability). The following is a chart using data from the NAIC which shows the Market Share by Line of Business of the top seven lines of insurance in the U.S./
Key Points from This Year’s Report:
With 65.62% of property and casualty insurance companies reporting so far, direct premiums written for all lines of business are $618,692,985,615.
The Top 10 property and casualty companies reporting so far have a cumulative market share of 52.11%.
Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 1, 2023, at $178,365,401,539, which is about 29% of all written premiums.
Market Share by Line of Business
With approximately 97.92% of all filings having been submitted to the NAIC as of March 28, 2022, the following are key figures from the current P&C marketplace:
Total Direct Written Premium for the U.S. insurance industry, All Lines, was $869,982,560,322, while Total Premiums Earned was $836,576,808,728.
The Direct Premiums for the Medical Professional Liability insurance marketplace totalled $11,618,742,332, while Total Premiums Earned was $11,393,252,977, making it the seventh-largest insurance marketplace in the U.S.
In terms of market share, Berkshire Hathaway is the largest insurer in this marketplace with $2,135,883,007 in Direct Premiums Written representing an 18.38% market share.
The top three Medical Professional Liability insurers in the U.S are as follows: Berkshire Hathaway, Doctors Co. Group, and ProAssurance Corp. Group. Together that have a cumulative market share of 34.26%.
The top five P&C insurers, which includes Boston-based Coverys, have a cumulative market share of 44.27%, while the top ten command more than half of the marketplace with a cumulative market share of 58.40%.
With respect to the top 25 Property & Casualty Insurers All Lines, the total market share of this group is 76.30%.
The Top 25 Medical Professional Liability Insurers
RANKGROUP/COMPANY NAMEDIRECT
PREMIUMS
WRITTEN ($)DIRECT
PREMIUMS
EARNED ($)DIRECT
LOSS TO
EP RATIO¹MARKET
SHARE %CUMULATIVE
MARKET
SHARE %³1. 
Links to our 2023 NAIC Market Share Reports
Links to our 2022 NAIC Market Share Reports
