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The Top Burglary & Theft Insurers in Massachusetts

February 6, 2018 by Julia Ybarra

Agency Checklists, MA Insurance News, Mass. Insurance News, Burglary & Theft Writers in Mass., Burglary & Theft Insurance CompaniesNone of the largest writers of this line of insurance are based in Massachusetts

As we have done in past years, over the coming weeks, Agency Checklists will be feature various top ten lists of the largest writers of various lines of insurance in Massachusetts. All of our information comes courtesy of the Division of Insurance and includes data from 2016, the last year for which complete information is available.

As we are taking a look at the Property Crime Statistics in Massachusetts this week, we also thought it would be interesting to take a look at exactly how much Burglary & Theft insurance is actually written here in the Commonwealth

A total of 116 insurers write this line of insurance in Massachusetts

In comparison with other lines of insurance, Burglary & Theft Insurance is a relatively small market. In 2016, Total Direct Written Premium was $8,701,002 dollars for the entire Commonwealth.

As for who writes this line of insurance in the Commonwealth, there are one hundred and sixteen (116) insurers are licensed to write Burglary & Theft Insurance in Massachusetts. This number includes 15 additional insurers than the last time this list was published in 2016.

There are no Massachusetts-based insurers on this Top 20 List

While there are technically no “Massachusetts-based” insurers on this list, there are three insurers who are based in New England: the Travelers Casualty & Surety, the Hanover Insurance Co., and Hartford Fire Insurance Co.

Premium and market share for the Top 10 and 20 insurers…

  • The top 20 insurers dominate this market with a 90.4% market share.
  • This translates into Direct Written Premium of $7,868,979 dollars.
  • The remaining 96 companies represent just 9.6% of the market with $832,032 dollars in Direct Written Premium.
  • Looking at the Top Ten Insurers in this line, these ten companies claim a 76.46% share of the market which represents $6,651,603 in Direct Written Premium. 
  • The remaining 106 companies have a 23.54% market share with $2,049,399 dollars in Direct Written Premium.

So who are actually the largest writers of this line of business…

Company Name State Premium Written in MA Market Share in MA
1. Travelers Cas & Surety Co Of Amer CT $ 1,603,325 18.43%
2. Zurich Amer Ins Co NY $ 1,229,099 14.13%
3. Federal Ins Co IN $971,607 11.12%
4. Fidelity & Deposit Co Of MD MD $679,476   7.81%
5. Hiscox Ins Co Inc  IL  $663,216  7.62%
6. National Union Fire Ins Co Of Pitts PA  $647,741  7.44%
7. Hanover Ins Co NH  $249,700  2.87%
8. Steadfast Ins Co DE  $206,661  2.38%
9. Westchester Fire Ins Co PA $204,410  2.35%
10. US Specialty Ins Co  TX  $196,368 2.26%
11. Continental Cas Co  IL $195,998 2.25%
12. Columbia Cas Co IL  $143,115 1.64%
13. Philadelphia Ind Ins Co  PA  $134,139  1.54%
14. Aspen Amer Ins Co  TX  $128,523 1.48%
15. Ironshore Ind Inc  MN   $125,458  1.44%
16. Universal Underwriters Ins Co  IL $108,351 1.25%
17. Berkley Regional Ins Co  DE  $106,684  1.23%
18. Atlantic Specialty Ins Co  NY  $94,803 1.09%
19. Hartford Fire In Co CT  $90,772 1.04%
20. Pacific Ind Co  WI   $89,533  1.03%

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Filed Under: Insurer News Tagged With: Agency Checklists, ma burglary & theft writers, ma insurance news, Mass. Insurance News, Mass. Insurance Top 10 Market Share, property insurance in massachusetts, Who writes burglary & theft in Massachusetts

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Article Comments & Updates

  • Mark Do producers have access to the database to see if a risk is ineligible? Feb 12, 5:03 PM
  • Mick McNabb The business model of acquiring agencies and then letting them run themselves the way they always have, seems to be a common one with the current community of PE acquirers. What I find interesting is that this decentralized model is not particularly sustainable long term... Feb 08, 3:20 PM
  • Michael B. Ryan, CPA I think the most important point in this article is determining what the best fit is for your agency. Every owner has different expectations as to how they would like to transition from their agency, identifying the right buyer is a very difficult. There are... Feb 05, 11:17 AM
  • Kevin Giovanucci For the past 3 years Acrisure has been at the top of the Acquisition List and as an Acrisure Partner Agency for the past three years I can understand why. They acquire great agencies and then continue to let them run those agencies the way... Feb 05, 10:11 AM

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