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You are here: Home / Latest News / Top 25 U.S. Medical Professional Liability Insurers | NAIC 2023 Market Share Report

Top 25 U.S. Medical Professional Liability Insurers | NAIC 2023 Market Share Report

March 20, 2023 by AC Editor


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).

Market Share by Line of Business

NAIC Data as of March 27 2023 Chart by Agency Checklists

Key Points from This Year’s Report:

  • With 97.92% of property and casualty insurance companies reporting so far, direct premiums written for all lines of business are $869,982,560,322.
  • The Top 10 property and casualty companies reporting so far have a cumulative market share of 67.07%.
  • Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 20, 2023, at $277,035,816,966.

The Medical Professional Liability Marketplace

  • Total Direct Premiums for the Medical Professional Liability insurance marketplace totalled $11,618,742,332, while Total Premiums Earned was $11,393,252,97.7,
  • 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 they 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 RATIO¹
MARKET
SHARE %
CUMULATIVE
MARKET
SHARE %³
Top Insurer in the US, Insurance News Massachusetts and US Market Share1.BERKSHIRE HATHAWAY GRP2,135,883,0072,119,199,19749.0618.3818.38
2.DOCTORS CO GRP1,127,834,7051,106,110,39445.599.7128.09
3.PROASSURANCE CORP GRP716,779,584716,914,90747.746.1734.26
Top Insurer in the US, Insurance News Massachusetts and US Market Share4.CNA INS GRP636,412,460625,026,77449.605.4839.74
5.COVERYS GRP526,477,706539,353,58860.274.5344.27
6.MCIC VT A RECIP RRG459,851,468459,869,70872.843.9648.23
7.MAG MUT INS GRP441,967,660423,850,88967.673.8052.03
Top Insurer in the US, Insurance News Massachusetts and US Market Share8.LIBERTY MUT GRP329,358,815327,903,83843.852.8354.86
Agency Checklists, MA Insurance News, Mass. Insurance News, Chubb, Mass. insurance companies9.CHUBB LTD GRP208,412,940201,693,81396.401.7956.66
Top Insurer in the US, Insurance News Massachusetts and US Market Share10.WR BERKLEY CORP GRP201,857,479195,970,82876.771.7458.40
11.ISMIE GRP201,317,216189,604,26449.101.7360.13
12.MMIC GRP193,157,602192,320,83251.391.6661.79
13.PRI GRP176,079,284180,220,99653.921.5263.31
14.CURI HOLDINGS GRP175,491,793171,247,37442.211.5164.82
15.CONTROLLED RISK INS CO OF VT RRG175,463,972175,463,97255.681.5166.33
16.MOUNTAIN LAUREL RRG INC137,410,000125,469,50082.801.1867.51
17.STATE VOLUNTEER MUT INS CO137,287,752132,953,32236.211.1868.69
18.COPIC GRP135,154,756127,212,05555.761.1669.85
Top Insurer in the US, Insurance News Massachusetts and US Market Share19.FAIRFAX FIN GRP130,313,213123,102,65342.691.1270.98
20.PHYSICIANS INS A MUT GRP126,311,326121,293,93153.391.0972.06
21.NATIONAL GRP100,268,17598,174,49947.490.8672.93
22.NCMIC GRP99,811,68299,589,95642.710.8673.79
23.AMERICAN INTL GRP98,309,27594,884,234-14.000.8574.63
Top Insurer in the US, Insurance News Massachusetts and US Market Share24.MARKEL CORP GRP98,140,55096,118,23328.690.8475.48
25.EMERGENCY CAPITAL MGMT LLC A RRG95,321,57692,712,00276.030.8276.30
**INDUSTRY TOTAL**11,618,742,33211,393,252,97753.57100.00100.00

Links to our 2023 NAIC Market Share Reports

  • NAIC 2023 Market Share Report | Top 25 U.S. P&C Insurers – All Lines
  • NAIC 2023 Market Share Report | Top 25 U.S. Commercial Auto Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Auto Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Homeowners Multiple Peril Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Workers’ Compensation Insurers
  • NAIC 2023 Market Share Report | Top 25 U.S. Other Liability Insurers

Links to our 2022 NAIC Market Share Reports

  • NAIC 2022 Market Share Report | Top 25 U.S. P&C Insurers – All Lines
  • NAIC 2022 Market Share Report | Top 25 U.S. Homeowners’ Multiple Peril Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Auto Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Commercial Auto Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Workers Compensation Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Other Liability Insurers
  • NAIC 2022 Market Share Report | Top 25 U.S. Medical Professional Liability Insurers

Filed Under: Latest News Tagged With: Agency Checklists, Mass. Insurance News, massachusetts insurance news, New England Insurance News, Top medical professional liability insurers

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