The Top Twenty Workers’ Comp. Carriers In The Commonwealth

A total of 240 companies write workers’ compensation insurance in Massachusetts

In light of the Mass. Division of Insurance’s Decision this on the WCRIBMA’s Rate Filing Agency Checklists thought it might be timely to review the top Workers’ Compensation insurance companies in the Commonwealth.

As always with all of our top 20 lists, the information reprinted here was provided by The Massachusetts Division of Insurance for the calendar year 2016, the last year for which complete information is available.

Two hundred and forty companies currently write Workers’ Compensation in Massachusetts, five more than when we last visited this list in 2015.

In monetary terms, this line of insurance has tallied Total Direct Written Premium of approximately $1,224,092,069 dollars.

The largest writer of workers’ compensation insurance in the Commonwealth as of 2016 was Massachusetts’ own Associated Industries of MA Mutual Insurance, also known as AIM Mutual. This company wrote $100,608,037 dollars in Direct Written Premium in Massachusetts during 2016, claiming 8.22% share of the market.

The 20 top insurers claim more than half of the total market share

As for all of the top 20 Workers’ Compensation insurance companies operating within the Commonwealth, these insurers have a combined total of $721,936,148 dollars in Direct Written Premium. This amount represents a 59% share of the Massachusetts market.

As for the remaining 220 companies writing workers’ compensation insurance here, these insurers had a combined total market share is 41% equaling $502,155,921 dollars in Direct Written Premium.

Only four of the Top 20 Workers’ Compensation Insurance Companies are based in Massachusetts

Out of the top 20 companies writing this line of insurance, however, only four are based in Massachusetts:

1. Associated Industries Of MA Mutual Insurance;
2. Atlantic Charter Insurance Co.;
3. Associated Employers Ins Co.; and
4. Independence Cas Ins Co.

As a final aside, these four insurers writer approximately $187,988,093 dollars in Direct Written Premium.

The List of Top Workers’ Compensation Companies in MA