This week, Agency Checklists review of the make-up of the Massachusetts insurance industry takes a look at the Burglary & Theft line of insurance.
Thirteen insurers stopped writing this line of insurance in Massachusetts since our last Market Share report
In comparison with other lines of insurance, Burglary & Theft Insurance is a relatively small market in the Commonwealth. It grew even smaller in 2017, however, as approximately thirteen insurance companies stopped writing this line of insurance here when comparing the data from 2016 to 2017. As always our data comes courtesy of the Massachusetts Division of Insurance and reports on the year 2017, the latest year for which complete data is available.
Are there any Massachusetts-based insurers on this Top 20 List?
No. While there are no Massachusetts-based insurers on this list, there are five insurers who are based in New England, these insurers are as follows:
- Travelers Casualty & Surety,
- the Hanover Insurance Co.,
- North Amer Elite Ins Co.,
- Hartford Fire Insurance Co., and
- Massachusetts Bay Ins Co.
Premium and market share for the Top 20 insurers in the Boiler & Machinery insurance market
- The top 20 insurers dominate this market with a 92.6% market share, 2% more than in 2016.
- Direct Written Premium for the top 20 insurers totaled $7,462,553.
- The remaining 83 companies represent the remaining 7.4% of the market with $597,790 dollars in Direct Written Premium.
- Total Direct Written Premium for this entire marketplace was $8,060,343 in 2017.
The complete list of the top 20 writers in this line of insurance
|1. Travelers Cas & Surety Co Of Amer||CT||$1,767,952||21.93%|
|2. Zurich Amer Ins Co||NY||$1,350,729||16.76%|
|3. Federal Ins Co||IN||$939,970||11.66%|
|4. National Union Fire Ins. Co of Pitts||PA||$700,493||8.69%|
|5. Hiscox Ins Co. Inc.||IL||$575,294||7.14%|
|6. US Specialty Ins Co.||TX||$338,384||4.20%|
|7. Hanover Ins Co.||NH||$255,398||3.17%|
|8. Continental Cas Co.||IL||$240,725||2.99%|
|9. Everest Natl Ins Co.||DE||$177,547||2.20%|
|10. Westchester Fire Ins Co.||PA||$161,316||2.00%|
|11. North Amer Elite Ins Co.||NH||$157,656||1.96%|
|12. Ironshore Ind Inc.||MN||$125,020||1.55%|
|13. Berkley Regional Ins Co.||DE||$98,941||1.23%|
|14. Hartford Fire Ins Co.||CT||$97,809||1.21%|
|15. Universal Underwriters Ins Co.||IL||$88,768||1.10%|
|16. Massachusetts Bay Ins Co.||NH||$85,682||1.06%|
|17. Pacific Ind Co.||WI||$82,789||1.03%|
|18. Atlantic Specialty Ins Co.||NY||$78,759||0.98%|
|19. Philadelphia Ind Ins Co.||PA||$69,900||0.87%|
|20. Twin City Fire Ins Co.||IN||$69,421||0.86%|