NAIC 2022 Market Share Report | Top 25 Medical Professional Liability Insurers

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The National Association of Insurance Commissioners has issued the annual Market Share Data Reports for the Property & Casualty Insurance Marketplace and the Life & Fraternal Insurance Marketplace, which provide comprehensive data for the year 2020 (the most recent year available). These reports are based on insurers’ annual statements from the State Page of the NAIC, as submitted by Property & Casualty insurers, and include countrywide premium filings. The compiled list of market share data offered by the NAIC is also reflected in these reports.

The chart below displays the distribution of market share by line of business for the top seven insurance lines in the United States, based on data from the NAIC. These lines consist of Other Liability (excluding auto liability), Homeowners’ Multi-Peril, Medical Professional Liability, Workers’ Compensation, Commercial Auto, Private Passenger Personal Auto, and All lines. Several reports that compile and incorporate this data provide information on the cumulative market share for these major insurance lines in the U.S.

Market Share by Line of Business

As of March 28, 2022, the respective Direct Written Premium for each of these categories is as follows: A chart that ranks the seven primary categories of insurance based on market share, using data gathered by the NAIC.

Here are important individuals from the present property and casualty marketplace, with around 98.96% of all submissions already sent to the NAIC as of March 28, 2022.

  • In the United States, the insurance industry amassed a mind-boggling $794,346,766,779 in total revenue from direct written premiums, covering all types of insurance. Furthermore, the earned premiums totaled an impressive $763,880,111,306.
  • The Medical Professional Liability insurance market in the United States ranked as the seventh-largest insurance market, generating a sum of $10,945,262,023 in Direct Premiums and $10,591,093,291 in Total Premiums Earned.
  • With a market share of 17.76%, Berkshire Hathaway is the dominant insurance company in this market, having written $1,944,101,165 in Direct Premiums to secure its position.
  • Berkshire Hathaway, Doctors Co. Group, and ProAssurance Corp. Group hold the leading positions among Medical Professional Liability insurers in the United States. Together, they account for a combined market share of 34.30%.
  • Boston-based Coverys, along with the other four leading P&C insurers, dominates the marketplace with a combined market share of 45.38%. In the same vein, the top ten insurers control over half of the market, accounting for a cumulative market share of 59.09%.
  • Regarding the top 25 Property & Casualty Insurers All Lines, the collective market share of this group is 76.94%.
    • COMPANY NAME DIRECT PREMIUMS WRITTEN ($) DIRECT PREMIUMS EARNED ($) DIRECT LOSS TO EP RATIO MARKET SHARE (%) CUMULATIVE MARKET SHARE (%)
    1. Berkshire Hathaway Group 1,944,101,165 1,860,819,790 48.70 17.76 17.76
    2. Doctors Co. Group 1,070,668,983 1,015,317,215 46.76 9.78 27.54
    3. ProAssurance Corp. Group 739,157,490 767,677,269 56.21 6.75 34.30
    4. CNA Ins. Group 638,679,985 638,076,284 50.31 5.84 40.13
    5. Coverys Group 574,677,41 575,292,525 65.03 5.25 45.38
    6. Mag Mutual Ins. Group 417,942,952 391,401,706 52.19 3.82 49.20
    7. MCIC Vt. A Recip RRG 384,988,146 384,988,146 94.56 3.52 52.72
    8. Liberty Mutual Group 307,729,293 275,001,41 71.47 2.81 55.53
    9. Chubb Ltd. Group 201,436,917 178,526,362 103.80 1.84 57.37
    10. MMIC Group 187,775,233 180,307,739 36.86 1.72 59.09
    11. WR Berkley Corp. Group 184,835,178 164,907,770 47.03 1.69 60.78
    12. ISMIE Group 173,747,576 173,411,837 53.05 1.59 62.36
    13. PRI Group 167,227,354 168,459,295 48.76 1.53 63.89
    14. Controlled Risk Ins. Co. of VT RRG 167,011,202 167,011,202 52.75 1.53 65.42
    15. Curi Holdings Group 159,592,048 151,039,775 37.85 1.46 66.87
    16. Alleghany Group 153,834,302 146,650,282 34.82 1.41 68.28
    17. State Volunteer Mutual Ins. Co. 121,871,741 118,821,212 25.66 1.11 69.39
    18. Physicians Ins. A Mutual Group 118,435,338 128,172,445 54.77 1.08 70.48
    19. Fairfax Financial Group 117,748,527 111,860,627 45.92 1.08 71.55
    20. COPIC Group 115,875,726 115,718,835 38.72 1.06 72.61
    21. NCMIC Group 99,545,439 98,466,707 47.02 0.91 73.52
    22. Markel Corp. Group 96,367,269 91,324,772 37.68 0.88 74.40
    23. National Group 95,183,133 93,233,449 31.98 0.87 75.27
    24. Medical Ins. of MD Group 93,466,405 94,388,844 42.43 0.85 76.12
    25. MICA Group 89,041,102 90,421,858 38.91 0.81 76.94
    Industry Totals 10,945,262,023 10,591,093,291 54.21 100.00 100.00

    Links to our 2022 NAIC Market Share Reports

  • NAIC 2022 Market Share Report | The Top 25 U.S. Property and Casualty Insurers – All Categories.
  • NAIC 2022 Market Share Report | The Top 25 U.S. Homeowners’ Multiple Peril Insurers.
  • NAIC 2022 Market Share Report | The Top 25 U.S. Providers of Workers Compensation Insurance.
  • NAIC 2022 Market Share Report | The Top 25 U.S. Insurers for Other Liability Coverage.

    • Links to our 2021 NAIC Market Share Reports

  • NAIC 2021 Market Share Report | The Top 25 Home Insurance Providers in the United States.
  • NAIC 2021 Market Share Report | The Top 25 U.S. Insurance Companies – All Categories.
  • NAIC 2021 Market Share Report | The Top 25 U.S. Car Insurance Companies.
  • NAIC 2021 Market Share Report | The Top 25 U.S. Commercial Automobile Insurers.
  • NAIC 2021 Market Share Report | The Top 25 U.S. Insurers for Other Liability.
  • NAIC 2021 Market Share Report | The Top 25 U.S. Workers Compensation Insurers.

    • Links to our 2020 NAIC Market Share Reports:

  • NAIC 2020 Market Share Report: The Top 25 Insurance Companies in the United States – All Lines.
  • NAIC 2020 Market Share Report: The Top 25 Automobile Insurance Companies in the United States.
  • NAIC 2020 Market Share Report: The 25 Leading Multi-Peril Homeowners Insurers.
  • NAIC 2020 Market Share Report: The 25 Leading Providers of Workers’ Compensation Insurance.
  • NAIC 2020 Market Share Report: The Leading 25 Commercial Vehicle Insurers.
  • NAIC 2020 Market Share Report: The Top 25 Insurers for Other Liability Coverage.