Best’s News & Research Service - June 16, 2022 11:13 AM (EDT)
Best’s Rankings: US Medical Profesional Liability Direct Premiums Written Increased 10% in 2021
OLDWICK, N.J. //BestWire// - Direct written premiums for U.S. medical professional liability insurers increased 10% to $11.2 billion in 2021, as the top 100 carriers saw a 9.9% growth in that figure to $10.9 billion, according to a new Best’s Rankings report.
Berkshire Hathaway Insurance Group topped the list with $1.9 billion in direct premiums written, up 13.4%.
Just four of the top 25 MPL insurers posted drop in direct premiums written for 2021, with MCIC Vermont registering the largest decrease of 9.4% to $384.99 million, according to the ranking. No. 9-ranked Chubb INA Group saw the largest increase of that group, with its its DPW of about $201.44 million seeing a gain of 33.2% from a year earlier a it moved up from 13th-place.
The three-page report lists the top 100 U.S. MPL writers, 2021 direct premiums written and change from 2020, market share and adjusted loss ratios for 2019-2021 and the share of MPL in the companies’ total book of business.
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(By Terrence Dopp, senior associate editor, Best’s Review: Terry.Dopp@ambest.com)