| Defense Costs and Cost Containment Expenses as a Percent of Incurred Losses, 2022-2024 (1) |
($000)
|
| |
2022 |
2023 |
2024 |
| |
Amount |
As a
percent of
incurred losses |
Amount |
As a
percent of
incurred losses |
Amount |
As a
percent of
incurred losses |
| Product liability |
$751,333 |
46.2% |
$869,370 |
40.8% |
$768,925 |
33.6% |
| Medical professional liability |
1,943,401 |
35.3 |
2,214,830 |
35.8 |
1,833,495 |
28.8 |
| Commercial multiple peril (2) |
2,248,506 |
22.2 |
2,724,149 |
25.5 |
2,863,349 |
23.8 |
| Other liability |
7,093,556 |
13.7 |
8,333,875 |
14.8 |
9,111,070 |
14.1 |
| Workers compensation |
2,975,641 |
13.9 |
3,086,005 |
14.3 |
3,337,727 |
16.1 |
| Commercial auto liability |
2,462,641 |
9.4 |
2,955,885 |
9.8 |
3,474,871 |
10.4 |
| Private passenger auto liability |
5,947,243 |
5.0 |
6,270,745 |
5.0 |
7,024,488 |
5.3 |
| All liability lines |
$23,422,321 |
10.0% |
$26,454,859 |
10.5% |
$28,413,925 |
10.5% |
(1) Net of reinsurance, excluding state funds.
(2) Liability portion only.
Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ´´ Information Institute. |
|