Best’s News & Research Service - June 16, 2023 12:10 PM (EDT)
Berkshire Tops Best’s Ranking of MPL Writers by Direct Premiums Written for 2022
OLDWICK, N.J. //BestWire// - Berkshire Hathaway Inc. maintained its grip on the list of the largest writers of medical professional liability insurance in the United States, writing $2.14 billion in coverage in 2022, according to a new Best’s Ranking report.
Berkshire’s direct premiums written increased 1.8% compared with 2021, although medical professional liability coverage remains only 3.8% of its company premiums, it said.
There also was no change in the order of the top five writers from a year earlier.
Doctors Company Insurance Group ($1.13 billion) held on to second place, aided by a 5.3% bump in premiums written. Doctors also had the lowest adjusted loss ratio among the top five writers of 45.9, it said.
Rounding out the rest of the top five were: ProAssurance Group, with $716.8 million in direct premiums written; CNA Insurance Cos., $636.4 million; and Coverys Cos., $526.5 million, it said.
The AM Best Ranking report lists the top 100 U.S. writers of medical professional liability insurance in 2022 by direct premiums written; the percentage change in premiums; market share, 2020-2022; adjusted loss ratios, 2020-2022; and MPL premiums as a percentage of company premiums.
Subscribers can access the report and data here.
Learn more about Best’s News and Research Service.
(By Timothy Darragh, senior associate editor, BestWire: Timothy.Darragh@ambest.com)