The mission of the National Association of Insurance Commissioners (NAIC) is to assist state insurance regulators,
individually and collectively, in serving the public interest and achieving the following fundamental insurance regulatory
goals in a responsive, efficient and cost effective manner, consistent with the wishes of its members. As part of this mission,
the NAIC compiles meaningful data about the insurance regulatory community, as well as the insurance industry.
Number of Insurance Companies
The number of insurance companies is provided by state insurance regulators and is compiled annually by the NAIC.
Depending on the type of insurance companies provided, they are classified either as property/casualty, life, health, fraternal
or title insurers. Insurers with primary corporate headquarters located in a particular state are called domestic insurers. The
insurance regulator in the insurer’s state of domicile is the primary regulator of that insurer. Foreign insurers are those that
are allowed to sell insurance in a state but have a primary legal residence in another state. The state rank represents the rank
relative to the state with the largest number of insurers among all states.
U.S. Premiums by NAIC Financial Statement Type
The premium volume from the NAIC financial filing database is direct written premium derived from insurer annual
financial statement filings provided to the NAIC. The total is comprised of aggregate premium and deposits generated
without any adjustments for reinsurance. This data is grouped according to insurer financial statement filing type (i.e.,
property/casualty; life, accident and health; health; fraternal organizations; and title). Data in one financial statement type
could contain data that seemingly fits better under another line of business. For example, traditional health data may be filed
by an insurer using the filing type of life, accident and health. Depending on the regulatory requirements in the state of
domicile, captives and risk retention groups are not always required to file with the NAIC and, consequently, this data may
not be considered complete. Not all state funds are required to file with the NAIC. State fund data contained herein is
reported separately and added to the premium volume during composition of this report. Some categories are modified to
more closely align with the structure of the NAIC financial statement filings and may not be comparable to data reported in
prior years. The state rank represents the rank relative to the state with the largest premium volume among all states.
U.S. Premiums by IDRR Premium Type
The premium volume from the Insurance Department Resources Report (IDRR) is comprised of direct written premium that
the states report to the NAIC in compiling the IDRR. This data is grouped by type of business and will not match up with
data grouped by NAIC financial statement type. This data includes total direct written premium reported by each state
insurance department and does not include premiums from captives or surplus lines business. It was requested that each state
include state funds in its premium volume reported. Some companies may report premium data to the state insurance
department that are not required to report to the NAIC due to sales volume or other regulatory requirements of their
domiciliary state.
Insurance Department Data
The insurance department data is provided by state insurance regulators and is compiled annually by the NAIC. Total taxes
include premium, retaliatory, franchise and income taxes paid by insurers. Total revenue includes other sources of revenue,
such as licensing fees and fines and assessments, as well as total taxes. Total budget represents the annual operating budget of
the state insurance department. Total employment is the number of full-time state insurance department employees. The state
rank represents the rank relative to the state with the largest respective number among all states.
Cost of Regulation
The cost of regulation is calculated from data supplied by state insurance regulators and collected from insurers’ financial
filings. It is a ratio that compares the insurance department budget to total premium written in the state. Beginning with the
2010 IDRR, insurance budget data no longer includes pass-through funding. Budget figures from 2008 and forward were
adjusted to reflect this change. For state-specific details, please refer to the IDRR technical notes.
Property/Casualty Premium by Line of Business
The premiums are from the annual financial statement information that property/casualty insurers file with the NAIC.
Property/casualty premium is subdivided into several categories. This data includes information on state funds reported
separately and added to the premium volume during composition of this report. The state rank represents the rank relative to
the state with the largest respective premium by line of business among all states.
Insurance Industry Employment
The U.S. Bureau of Labor Statistics (BLS) produces the Quarterly Census of Employment and Wages (QCEW). The QCEW
is derived from quarterly unemployment insurance tax reports submitted by employers to state workforce agencies. The
reports are subject to state unemployment insurance laws, as well as to the Unemployment Compensation for Federal
Employees (UCFE) program. According to the BLS, the QCEW program publishes a quarterly count of employment and
wages covering 98% of U.S. jobs, available by industry in the county, metropolitan statistical area (MSA), state and national
levels. Employment is the total number of persons employed full-time or part-time in non-farm establishments during a
specified payroll period. Temporary employees are included. In general, data refer to persons who worked during, or received
pay for, any part of the pay period that includes the 12th of the month, which is standard for all federal agencies collecting
employment data from business establishments. Insurance carriers include employees of direct insurers from all insurance
types and reinsurers. Agencies, brokerages and other insurance-related activities include insurance agents and brokers,
independent claims adjusters, third-party administrators of insurance and pension funds, and other insurance-related
activities.
Consumer Complaints
Complaints include all formal complaints lodged with the insurance department.
Consumer Inquiries
Inquiries include all requests for information about insurance-related issues made by any medium, including phone calls,
written letters, emails, etc. Requests for brochures are included, as are incidents where a complaint is voiced, but is not
formally lodged.
Gross Domestic Product
The U.S. Bureau of Economic Analysis (BEA) produces the gross domestic product (GDP). The BEA defines GDP by state
as the most comprehensive measure of overall economic activity in the individual states. Per the BEA, GDP by state is
calculated as the sum of incomes earned by labor and capital and the costs incurred in the production of goods and services. It
includes workers’ wages and salaries; income earned by sole proprietorships, partnerships and corporations; and business
taxes (such as sales, property, and federal excise taxes) that count as a business expense.
State Insurance Regulation: Key Facts and Market Trends
The primary goal of state regulation is to protect insurance consumers, while recognizing that consumers as well as companies are well
served by efficient, market-oriented regulation of the business of insurance.
OVERVIEW OF THE UNITED STATES INSURANCE MARKET
2015
U.S. Gross Domestic Product (Millions)
Five Largest Insurance Groups in the U.S.
by Direct Premium Written
Direct Premium
Written*
% of Total
Premium
METROPOLITAN GRP
$111,643,682,451
5.64%
UNITEDHEALTH GRP
$111,283,606,529
5.62%
STATE FARM IL
$64,603,785,350
3.26%
ANTHEM INC GRP
$55,286,160,493
2.79%
HUMANA INC
$51,754,607,262
2.62%
Top 5 Total
$394,571,842,085
Insurance Group
2014
Funds, trusts, and other financial
vehicles
40,356
N/A
Insurance carriers and related activities
450,336
N/A
Securities, commodity contracts, and
investments
244,193
N/A
Federal Reserve banks, credit
intermediation, and related services
488,004
N/A
Finance and insurance
*Includes Deposit Type Funds and premium written in U.S. territories
from Property, Life, Fraternal, Title, and Health Annual Statements.
U.S. Financial Sector Employment
Insurance Carriers and Related
Activities
2014
2,186,611
2,261,125
1,198,142
1,181,661
1,187,203
618,724
614,241
612,655
Direct Life Insurance Carriers
259,898
247,345
240,851
Direct Health and Medical Insurance
Carriers
359,907
366,089
367,175
Direct Insurers (except Life and Health)
511,365
503,163
509,955
Direct Property and Casualty Insurers
470,277
465,246
471,352
Direct Title Insurance Carriers
58,352
54,766
56,232
Other Direct Insurance Carriers
10,358
10,012
11,832
Reinsurance Carriers
21,290
20,034
19,329
Insurance Agencies and Brokerages
946,284
1,004,960
1,073,922
Other Insurance Related Activities
280,807
295,470
308,904
54,277
54,549
56,530
159,233
169,039
176,473
67,300
71,875
75,123
Direct Life and Health Insurance Carriers
Claims Adjusting
Third Party Administration of Insurance
Funds
All Other Insurance Related Activities
1,275,451
U.S. Gross Dometic Product
Shares of Financial Institutions
By Component, 2014
2015
2,144,426
Insurance Carriers
1,222,890
*Figure is an estimate.
Source: US Department of Commerce, Bureau of Economic Analysis
Source: National Association of Insurance Commissioners
2013
2015*
Federal
Reserve
Banks, Credit
Internediation
and Related
Services
Securities,
Commodity
Contracts,
Investments
19.97%
39.91%
Funds, Trusts,
and Other
Financial
Vehicles
Insurance
Carriers and
Related
Activities
Source: U.S. Department of Labor, Bureau of Labor Statistics
U.S. Gross Dometic Product
Shares of Financial Institutions
By Component, 2013
Securities,
Commodity
Contracts,
Investments
18.54%
Insurance
Carriers and
Related
Activities
34.92%
Copyright ©2016 National Association of Insurance Commissioners. All rights reserved.
3.30%
36.83%
Federal
Reserve Banks,
Credit
Internediation
and Related
Services
43.03%
Funds, Trusts,
and Other
Financial
Vehicles
3.51%
State Insurance Regulation: Key Facts and Market Trends
OVERVIEW OF THE UNITED STATES INSURANCE MARKET
2015
U.S. Property & Casualty Premium by Line of Business
Total U.S. Premium
Line of Business
All Types of Insurance ($ billions)
2014
Accident & Health
Allied lines
$2,400
5,731,583,174
12,441,267,244
3,028,609,117
2,869,911,417
953,362,225
Farm
Homeowners multiple peril
13,666,645,811
86,303,533,486
13,631,209,251
89,136,725,302
Commercial multi peril
Mortgage guaranty
38,961,757,164
4,534,832,939
39,552,629,282
4,868,941,507
Ocean & Inland Marine
Financial guaranty
21,586,864,497
477,564,807
23,146,799,019
442,849,479
Fire
Earthquake
12,670,360,838
2,301,676,840
12,321,900,550
2,278,381,361
Workers' compensation
Products liability
59,444,975,584
3,358,246,777
61,676,481,736
3,553,210,600
218,408,475,982
1,502,705,778
230,998,398,345
1,471,297,927
Fidelity
Surety
1,211,389,569
5,459,383,404
1,212,689,003
5,603,942,863
Burglary and theft
Boiler and machinery
265,462,287
1,492,824,809
280,063,866
1,624,547,006
1,714,424,883
61,491,956,150
1,690,805,718
64,794,550,184
Federal flood
Crop
$2,000
$2,136
$1,990
Automobile
Aircraft (all perils)
Credit
Other
2015
2014
Medical professional liability
Total
9,658,218,108
9,385,864,118
567,104,561,603 589,667,410,724
Source: National Association of Insurance Commissioners
(Premiums from Property Annual Statements plus State Funds)
Premium Written for Automobile
Premium Written for
Premium Written for
Insurance
Homeowners Insurance
Commercial MP Insurance
32,886
33,668
35,948
37,721
38,962
39,553
2010
2011
2012
2013
2014
2015
34,608
33,663
2009
35,572
(Millions)
89,137
82,660
86,304
77,854
73,676
67,545
70,907
2008
2007
2015
2014
2013
2012
2011
625,408
641,056
674,607
707,540
738,900
817,843
2009
2010
2011
2012
2013
2014
505,417
2008
2015
2014
2013
$0
470,604
$400,000
2007
(Millions)
628,377
592,582
570,056
604,422
$600,000
$200,000
2012
564,083
2011
519,217
2010
587,842
527,969
2009
2015
2014
2013
2012
2011
$0
2010
$0
2008
$200,000
$100,000
2009
Health Insurance **
$800,000
565,718
$300,000
$2,000
2008
Premium Written & Deposits for
$500,000
$400,000
$0
$1,000,000
2007
(Millions)
9,386
9,658
9,785
10,019
10,280
10,595
10,795
11,208
$4,000
11,657
$600,000
$6,000
2010
Life Insurance *
$10,000
$8,000
65,034
Premium Written for
Liability Insurance
$700,000
$15,000
$10,000
Premium Written for Medical
$12,000
$25,000
$20,000
$5,000
2009
2015
2014
2013
2012
2011
2010
2009
$0
2008
$0
2007
$20,000
$10,000
2008
$30,000
$40,000
$30,000
64,679
$50,000
$40,000
2007
(Millions)
230,998
218,408
207,309
$80,000
197,383
$120,000
190,462
$35,000
187,773
$160,000
186,322
$40,000
$70,000
$60,000
188,896
$80,000
191,640
$200,000
2007
(Millions)
(Millions)
(Premiums from Property, Life, Fraternal, Health and Title Annual
Statements plus State Funds for Property and Health)
Source: National Association of Insurance Commissioners
* Figures include Life, Annuities, Deposit Type Funds, and Other Considerations from the NAIC Life, and Fraternal financial statements.
** Figures includes Health data from the NAIC Health, Life, and Fraternal financial statements and California Insurance data.
Figures include data from State Funds where applicable.
Copyright ©2016 National Association of Insurance Commissioners. All rights reserved.
903,717
2013
2012
2011
2010
2009
2008
2007
$0
2006
$400
2015
$1,865
$1,839
$1,741
$1,648
$1,639
$1,555
$800
$1,677
$1,200
$1,469
Billions
$1,600
2015
5,601,767,251
12,995,129,881
State Insurance Regulation: Key Facts and Market Trends
The primary goal of state regulation is to protect insurance consumers, while recognizing that consumers as well as companies are well
served by efficient, market-oriented regulation of the business of insurance.
OVERVIEW OF THE UNITED STATES INSURANCE MARKET
2015
Data Year
U.S. Premiums by NAIC Financial Statement Type
Fraternal
Organizations
Life
Health**
Property & Casualty*
Title
Total
2006
$496,289,183,915
$646,986,485,516
$6,441,523,147
$16,295,057,128
$1,469,406,202,696
2007
$502,303,781,431
$701,396,470,641
$6,244,013,237
$13,906,453,999
$1,554,521,426,010
2008
$490,607,632,320
$733,223,936,545
$436,133,320,961
$7,651,600,468
$9,784,308,716
$1,677,400,799,010
2009
$475,352,229,041
$673,775,162,639
$471,264,277,619
$8,874,377,984
$9,376,264,339
$1,638,642,311,622
2010
$475,087,530,842
$667,917,139,633
$485,478,978,203
$10,056,997,119
$9,322,927,851
$1,647,863,573,648
2011
$492,359,898,516
$712,620,034,399
$516,592,347,745
$10,059,457,703
$9,163,755,643
$1,740,795,494,006
2012
$515,045,289,525
$755,487,272,271
$546,782,291,690
$10,309,568,435
$11,129,648,863
$1,838,754,070,784
2013
$542,844,596,048
$728,885,499,002
$570,536,064,511
$10,215,714,914
$12,452,031,563
$1,864,933,906,038
2014
$567,105,061,580
$737,379,318,019
$664,352,095,084
$10,458,718,577
$11,060,055,329
$1,990,355,248,589
2015
$589,667,410,484
$777,515,450,630
$745,537,695,442
$10,867,996,702
$12,885,170,798
$2,136,473,724,056
*Starting in 2004, Property/Casualty premiums include Supplemental State Funds.
** Starting in 2007, Health premiums include data filed with the California Department of Insurance.
Source: National Association of Insurance Commissioners
2015 U.S. Premiums by NAIC IDRR Premium Category
Total
$2,096,263,565,923
Life /
Annuities
Property /
Casualty
Health
Title
$659,176,391,984
$553,979,079,045
$860,669,606,790
$12,432,191,116
Risk Retention
Group
$2,505,270,772
All
Other
$7,501,026,216
2011 was the first year IDRR collected premiums by category. Additional years will be added to the chart as they become available.
Source: NAIC Insurance Department Resources Report
2015 U.S. Insurance Industry Information
Domestic
Premium
$2,096,263,565,923
Num of
Domestic
5,930
Domestic Mean
Premium
Captive
Premium
$353,501,445
$15,546,935,961
Num of
Captives
3,948
Captive Mean
Premium
$3,937,927
Source: NAIC Insurance Department Resources Report
2015 U.S. Insurance Department Information for All States
Total
Revenue
$22,650,918,017
Total State
Tax Revenue
$18,323,416,916
Total
Budget
$1,361,765,510
Source: NAIC Insurance Department Resources Report
Copyright ©2016 National Association of Insurance Commissioners. All rights reserved.
Total
Employment
11,304
Consumer
Inquiries
1,878,057
Consumer
Complaints
299,625
State Insurance Regulation in Washington: Key Facts and Market Trends
Overview of the 2015 Insurance Market In Washington
Number of Insurance Companies in
Washington
Type
Number
Domestic
Total Domestic and Licensed
Foreign Insurers
Premiums & Deposits by Type of Annual
Statement Filing in Washington
State
Rank
37
44
1,440
36
Statement
Type
Captives not included.
Source: NAIC Insurance Department Resources Report
Captive Insurance Companies in Washington
Number of
Captives
Direct
Written Premium
0
Total
Captive Premium
$0
% of
U.S.
Fraternal
Health
Life, Accident, and Health
Property and Casualty
Title
$222,284,055
$15,542,371,008
$11,768,923,655
$12,417,948,866
$311,786,099
15
12
25
14
13
2.05%
2.08%
1.51%
2.11%
2.42%
Total Washington
$40,263,313,683
16
1.88%
IDRR Premiums by Category in Washington
$0
Category
Type
Insurance Department Data for Washington
Total Taxes:
Total Revenue:
Total Budget:
Total Employment:
Total Inquiries:
Total Complaints:
State
Rank
Source: National Association of Insurance Commissioners
Source: NAIC Insurance Department Resources Report
Description
Premium
Written
Amount
State
Rank
% of
U.S.
$555,976,273
$598,109,346
$28,788,671
240
106,415
6,130
7
8
12
10
7
12
3.03%
2.64%
2.11%
2.12%
5.67%
2.05%
Premiums
Property and Casualty
Life/Annuities
Risk Retention Group
All Other
Title
Health
Total
State
Rank
% of
U.S.
20
17
9
14
12
17
16
1.80%
1.89%
2.43%
0.00%
2.51%
1.74%
1.80%
$9,968,417,907
$12,457,707,000
$60,806,093
$0
$311,786,000
$14,997,224,000
$37,795,941,000
Source: NAIC Insurance Department Resources Report
Source: NAIC Insurance Department Resources Report
Cost of Regulation in Washington
2006
$20,840,221
$0.69
2007
$22,754,023
$0.73
2008
$23,051,480
$0.72
2009
$24,071,718
$0.76
2010
$24,755,063
$0.77
2011
$26,956,916
$0.81
2012
$26,092,635
$0.76
2013
$27,045,410
$0.74
2014
$23,424,432
$0.59
2015
$28,788,671
$0.72
Cost of Regulation
Insurance Dept Budget (Thousands)
Dept. Budget
Per $1,000
Premium
$32,000,000
$0.90
$28,000,000
$0.80
$0.70
$24,000,000
$0.60
$20,000,000
$0.50
$16,000,000
$0.40
$12,000,000
$0.30
$8,000,000
$0.20
$4,000,000
$0
$0.10
2006
2007
Source: NAIC Insurance Department Resources Report
Copyright ©2016 National Association of Insurance Commissioners. All rights reserved.
2008
2009
2010
2011
2012
2013
Fiscal Year
Insurance Department
Budget
Dept Budget per $1,000
Premium
2014
2015
$0.00
Cost of Regulation per $1,000 Premium
Year
Insurance
Department
Budget
State Insurance Regulation in Washington: Key Facts and Market Trends
Overview of the 2015 Insurance Market In Washington
Premium by Line of Business in Washington
Total Direct Premium Written In-State
Line of Business
Premium
Written
State
Rank
% of
U.S.
Automobile
$45,000
Workers' compensation
$4,975,839,474
14
2.15%
$1,832,498,329
10
2.97%
Homeowners multiple peril
$1,585,812,093
24
1.78%
$40,000
Other
$1,182,222,651
14
1.82%
Commercial multi peril
$791,229,250
14
2.00%
$35,000
Ocean & Inland Marine
$587,940,347
11
2.54%
Fire
$205,541,858
19
1.67%
$30,000
Farm
$189,025,375
22
1.39%
Earthquake
$169,353,817
2
7.43%
$25,000
Medical professional liability
$160,752,756
18
1.71%
Mortgage guaranty
$155,251,834
12
3.19%
Allied lines
$142,401,934
24
1.14%
Surety
$138,073,282
13
2.46%
Accident & Health
$82,839,820
23
1.45%
Products liability
$54,247,852
22
1.53%
Washington
$40,263
$39,507
2015
2014
15
2.20%
$35,357,201
11
2.40%
Federal flood
$28,038,276
18
0.98%
Credit
$26,836,684
18
1.59%
Fidelity
$17,699,026
22
1.46%
Crop
$15,080,841
13
1.58%
1.77%
Burglary and theft
$4,944,902
16
Financial guaranty
$1,156,381
29
0.26%
$12,417,948,866
14
2.11%
Total
Source: National Assoication of Insurance Commonisers.
Source: National Association of Insurance Commissioners
791
776
745
712
680
Figures include data from State Funds where applicable.
2015
2014
2013
15,329
16,201
2012
2013
18,380
14,624
2011
2015
13,998
2010
* Figures include Life, Annuities, Deposit Type Funds, and Other Considerations from the NAIC Life, and Fraternal financial statements.
** Figures include Health data from the NAIC Health, Life, and Fraternal financial statements and California Insurance data.
Copyright ©2016 National Association of Insurance Commissioners. All rights reserved.
2012
2011
2010
13,616
2015
2014
2013
2012
2011
2010
2009
2008
2007
2015
2014
2013
2012
$0
2011
$0
2010
$0
2009
$4,000
2008
$2,000
2007
$40
2009
$8,000
13,057
$12,000
12,262
9,079
8,865
8,264
8,086
8,000
7,671
7,719
8,417
$4,000
8,207
161
176
189
201
204
206
201
240
215
$6,000
18,516
$16,000
2014
$8,000
(Millions)
$20,000
(Millions)
$10,000
$200
$80
2009
Premiums Written & Deposits for
Health Insurance **
$240
$120
667
727
2015
2014
2013
2012
2011
2010
2009
$0
Premium Written & Deposits for
Life Insurance *
$160
691
$200
$100
2008
2008
(Millions)
1,586
1,522
$300
$0
2015
2014
2013
2012
2011
2010
2009
2008
2007
$400
$200
Premium Written for Medical
Liability Insurance
(Millions)
1,470
$600
1,356
$800
1,402
$500
1,314
$600
$1,000
1,257
$700
$1,200
1,194
$1,400
$400
$1,000
$0
$800
1,155
(Millions)
4,976
4,699
4,473
4,261
4,174
4,237
4,264
4,213
$2,000
4,302
(Millions)
$4,000
$1,600
2007
$5,000
$3,000
Premium Written for
Commercial MP Insurance
Premium Written for
Homeowners Insurance
2008
Premium Written for Automobile
Insurance
2007
2013
2012
2011
2010
$35,804,884
Aircraft (all perils)
747
$36,463
$34,481
$33,282
$31,983
$31,762
2009
2008
2007
$0
2006
$5,000
Boiler and machinery
2007
$10,000
$31,945
$15,000
$31,322
$20,000
$30,353
Millions
All Types of Insurance
State Insurance Regulation in Washington: Key Facts and Market Trends
Overview of the 2015 Insurance Market In Washington
Insurance Industry Employment in Washington
Insurance
Carriers and
Related
Activities
Insurance
Carriers
2008
37,452
21,111
16,341
2009
36,168
19,882
16,286
2010
35,215
19,136
16,079
2011
34,974
19,101
15,873
2012
35,496
19,309
16,186
2013
36,675
20,133
16,542
2014
38,637
20,937
17,701
2015
39,637
21,675
17,962
Year
Agents Brokers
and Other
Related
Activities
Gross Domestic Product for Washington
(Millions)
2012
Funds, trusts, and other
financial vehicles
Insurance carriers and
related activities
Securities, commodity
contracts, and investments
Federal Reserve banks,
credit intermediation, and
related services
Finance and insurance
2013
2014
2015
$543
$335
$167
N/A
$5,669
$5,948
$6,514
N/A
$1,956
$2,113
$2,408
N/A
$6,879
$6,407
$6,224
N/A
$15,048
$14,803
$15,313
$16,053
Note: 2015 figure is an estimate.
Source: US Department of Commerce, Bureau of Economic Analysis
Source: US Department of Labor, Bureau of Labor Statistics
Gross Dometic Product in Washington
Shares of Financial Institutions
By Component, 2014
Federal Reserve
banks, credit
intermediation,
and related
services
Funds, trusts,
and other
financial vehicles
1.09%
40.65%
Securities,
commodity
contracts, and
investments
15.73%
Copyright ©2016 National Association of Insurance Commissioners. All rights reserved.
Insurance
carriers and
related activities
42.54%