Best’s News & Research Service - September 27, 2024 10:22 AM (EDT)
Best's Rankings: US Product Liability Claims Made DPW Decreased 1.8%
OLDWICK, N.J. //BestWire// - The U.S. product liability (claims made) industry’s direct premiums written decreased 1.8% to $860.4 million in 2023, according to a new Best's Ranking.
Among the top writers, Chubb INA Group maintained its No. 1 position as DPW rose 0.1% to $208.8 million.
CNA Insurance Cos. rose to second from third place as DPW rose 0.7% to $76.4 million. Kinsale Insurance Co. rose to third from fourth place as its DPW rose 10.9% to $57.2 million.
Markel Insurance Group fell to No. 4 from No. 2 as its DPW fell 33.4% to $54.2 million.
The two-page report includes 2023 DPW, percentage change in premiums, market share and adjusted loss ratios for 2023 and 2022, and percentage of company premiums.
Subscribers can access the report and data here.
Learn more about Best's News and Research Service.
AM Best data sourced from Best's Financial Suite, US.
(By David Pilla, news editor, BestWire: David.Pilla@ambest.com)