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
2014
Five Largest Insurance Groups in the U.S.
by Direct Premium Written
U.S. Gross Domestic Product (Millions)
Insurance Group
Direct Premium
Written*
% of Total
Premium
METROPOLITAN GRP
$104,186,862,716
6.02%
UNITEDHEALTH GRP
$90,358,275,488
5.22%
PRUDENTIAL OF AMER
$87,249,108,635
5.04%
STATE FARM IL
$56,149,303,051
3.25%
$51,958,437,875
3.00%
WELLPOINT INC GRP
Top 5 Total
$389,901,987,765
2013
2014*
$42,326
N/A
Insurance carriers and related activities
$421,445
N/A
Securities, commodity contracts, and
investments
$223,825
N/A
Federal Reserve banks, credit
intermediation, and related services
$519,334
N/A
Funds, trusts, and other financial
vehicles
$1,206,931
*Includes Deposit Type Funds and premium written in U.S. territories
from Property, Life, Fraternal, Title, and Health Annual Statements.
Finance and insurance
Source: National Association of Insurance Commissioners
*Figure is an estimate.
Source: US Department of Commerce, Bureau of Economic Analysis
U.S. Financial Sector Employment
2012
Insurance Carriers and Related
Activities
2013
2,144,426
2,186,611
1,172,476
1,198,142
1,181,661
601,240
618,724
614,241
261,135
259,898
247,345
Direct Health and Medical Insurance
Carriers
347,366
359,907
366,089
Direct Insurers (except Life and Health)
507,353
511,365
503,163
Direct Property and Casualty Insurers
458,032
470,277
465,246
53,474
58,352
54,766
Insurance Carriers
Direct Life and Health Insurance
Carriers
Direct Life Insurance Carriers
Direct Title Insurance Carriers
Other Direct Insurance Carriers
11,697
10,358
10,012
Reinsurance Carriers
20,852
21,290
20,034
905,689
946,284
1,004,960
253,894
280,807
295,470
52,718
54,277
54,549
Third Party Administration of Insurance
Funds
139,138
159,233
169,039
All Other Insurance Related Activities
62,033
67,300
71,875
Insurance Agencies and Brokerages
Other Insurance Related Activities
Claims Adjusting
U.S. Gross Dometic Product
Shares of Financial Institutions
By Component, 2013
2014
2,078,166
$1,261,274
Federal
Reserve
Banks, Credit
Internediation
and Related
Services
Securities,
Commodity
Contracts,
Investments
18.54%
43.03%
Funds, Trusts,
and Other
Financial
Vehicles
Insurance
Carriers and
Related
Activities
3.51%
34.92%
U.S. Gross Dometic Product
Shares of Financial Institutions
By Component, 2012
Securities,
Commodity
Contracts,
Investments
17.12%
Source: U.S. Department of Labor, Bureau of Labor Statistics
Insurance
Carriers and
Related
Activities
38.31%
Copyright ©2015 National Association of Insurance Commissioners. All rights reserved.
Federal
Reserve Banks,
Credit
Internediation
and Related
Services
40.35%
Funds, Trusts,
and Other
Financial
Vehicles
4.22%
State Insurance Regulation: Key Facts and Market Trends
OVERVIEW OF THE UNITED STATES INSURANCE MARKET
2014
U.S. Property & Casualty Premium by Line of Business
Total U.S. Premium
Line of Business
All Types of Insurance ($ billions)
$2,000
$1,600
$1,990
$1,865
2013
$1,648
2010
$1,839
$1,639
2009
2012
$1,677
2008
$1,741
$1,635
2007
$1,469
$1,363
Billions
$1,200
2014
2011
2006
Source: National Association of Insurance Commissioners
Premium Written for Automobile
Premium Written for
Premium Written for
Insurance
Homeowners Insurance
Commercial MP Insurance
33,663
32,886
33,668
35,948
37,721
38,962
2009
2010
2011
2012
2013
2014
35,572
34,608
2008
35,987
(Millions)
86,304
82,660
77,854
73,676
67,545
71,004
2007
2014
2013
2012
2011
2010
2009
Health Insurance **
587,197
625,408
641,056
674,607
707,540
738,900
817,787
2008
2009
2010
2011
2012
2013
2014
$0
470,604
$400,000
2007
(Millions)
592,582
$600,000
$200,000
2014
570,056
2013
604,422
2012
564,083
2011
519,217
2010
527,969
2009
587,842
2008
2014
2013
2012
2011
2010
$0
2009
$0
2008
$100,000
2007
$2,000
565,718
$200,000
2007
$300,000
Premium Written & Deposits for
$800,000
522,013
$400,000
$0
$1,000,000
2006
(Millions)
9,658
9,785
10,019
10,280
10,595
11,208
10,795
$4,000
11,657
$500,000
12,326
$600,000
$10,000
$6,000
65,034
Life Insurance *
$12,000
$8,000
64,679
Premium Written for
Liability Insurance
$700,000
$15,000
$10,000
Premium Written for Medical
$14,000
$25,000
$20,000
$5,000
2008
2014
2013
2012
2011
2010
2009
2008
$0
2007
$0
2006
$40,000
$20,000
$10,000
2007
$30,000
$30,000
60,800
$50,000
$40,000
2006
(Millions)
218,409
207,309
197,383
190,462
187,773
$80,000
186,322
$35,000
188,896
$160,000
191,640
$40,000
$70,000
$60,000
193,000
$80,000
$120,000
5,601,767,251
12,995,129,881
3,028,609,117
967,755,975
13,666,645,811
86,303,533,486
38,961,757,164
4,534,832,939
21,586,864,497
477,564,807
12,670,360,838
2,301,676,840
59,444,975,584
3,358,246,777
218,409,045,763
1,502,705,778
1,211,389,569
5,459,383,404
265,462,287
1,492,824,809
1,714,424,883
61,491,956,150
9,658,127,504
567,105,040,780
(Premiums from Property Annual Statements plus State Funds)
$200,000
2006
(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
15,084,480,622
82,660,181,703
37,721,168,598
4,546,543,732
19,947,274,865
608,444,024
13,098,155,584
2,280,047,235
55,708,292,405
3,321,275,989
207,309,338,508
1,550,680,659
1,171,257,946
5,214,468,817
246,775,411
1,466,336,006
1,695,022,129
57,058,714,233
9,784,635,293
542,844,596,029
2006
$0
2005
$400
2014
5,943,310,369
13,349,691,960
3,078,500,389
2006 432,057
$800
2013
Accident & Health
Allied lines
Federal flood
Crop
Farm
Homeowners multiple peril
Commercial multi peril
Mortgage guaranty
Ocean & Inland Marine
Financial guaranty
Fire
Earthquake
Workers' compensation
Products liability
Automobile
Aircraft (all perils)
Fidelity
Surety
Burglary and theft
Boiler and machinery
Credit
Other
Medical professional liability
Total
* 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 ©2015 National Association of Insurance Commissioners. All rights reserved.
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
2014
Data Year
U.S. Premiums by NAIC Financial Statement Type
Fraternal
Organizations
Life
Health**
Property & Casualty*
Title
Total
2005
$484,337,075,492
$584,720,919,871
$6,559,555,580
$16,712,273,034
$1,362,648,381,529
2006
$496,294,031,030
$646,997,453,976
$6,441,524,762
$16,295,296,630
$1,469,425,157,555
2007
$502,303,781,431
$701,396,470,641
$411,185,416,773
$6,244,013,237
$13,906,453,999
$1,635,036,136,081
2008
$490,607,632,320
$733,223,936,388
$436,144,110,438
$7,651,600,465
$9,784,308,716
$1,677,411,588,327
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
$567,105,540,757
$737,379,299,501
$664,294,992,550
$10,458,718,577
$11,060,055,329
$1,990,298,606,714
*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
U.S. Premiums by NAIC IDRR Premium Category
Life /
Annuities
Data Year*
Total
2014
$1,941,184,274,569
$640,643,528,312
Property /
Casualty
Health
Title
Risk Retention
Group
$531,035,731,399
$748,536,253,645
$10,548,824,996
All
Other
$2,495,102,095 $7,924,834,122
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
2014 U.S. Insurance Industry Information
Domestic
Premium
$1,941,184,274,569
Num of
Domestic
6,118
Domestic Mean
Premium
Captive
Premium
$317,290,663
$20,956,215,934
Num of
Captives
Captive Mean
Premium
2,737
$7,656,637
Source: NAIC Insurance Department Resources Report
2014 U.S. Insurance Department Information for All States
Total
Revenue
$22,213,914,383
Total State
Tax Revenue
$17,505,566,015
Total
Budget
$1,325,367,168
Source: NAIC Insurance Department Resources Report
Copyright ©2015 National Association of Insurance Commissioners. All rights reserved.
Total
Employment
11,531
Consumer
Inquiries
1,937,653
Consumer
Complaints
279,980
State Insurance Regulation in Washington: Key Facts and Market Trends
Overview of the 2014 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
39
43
1,454
35
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
$221,139,524
$15,745,971,816
$11,495,266,709
$11,795,480,458
$249,383,581
14
11
25
14
13
2.11%
2.37%
1.56%
2.08%
2.25%
Total Washington
$39,507,242,088
15
1.98%
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.
$467,350,803
$504,956,617
$23,424,432
231
115,643
6,135
10
14
14
13
6
12
2.67%
2.27%
1.77%
2.00%
5.97%
2.19%
Premiums
Property and Casualty
Life/Annuities
Risk Retention Group
All Other
Title
Health
Total
State
Rank
% of
U.S.
20
19
10
13
12
16
15
1.79%
1.88%
2.23%
0.00%
2.36%
2.04%
1.92%
$9,531,266,000
$12,051,748,000
$55,561,000
$0
$249,384,000
$15,302,355,000
$37,190,314,000
Source: NAIC Insurance Department Resources Report
Source: NAIC Insurance Department Resources Report
Cost of Regulation in Washington
2005
$17,259,311
$0.61
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
$0.75
2013
$27,045,410
$0.75
2014
$23,424,432
$0.59
Cost of Regulation
Insurance Dept Budget (Thousands)
Dept. Budget
Per $1,000
Premium
$28,000,000
$0.90
$0.80
$24,000,000
$0.70
$20,000,000
$0.60
$16,000,000
$0.50
$12,000,000
$0.40
$0.30
$8,000,000
$0.20
$4,000,000
$0
$0.10
2005
2006
Source: NAIC Insurance Department Resources Report
Copyright ©2015 National Association of Insurance Commissioners. All rights reserved.
2007
2008
2009
2010
2011
2012
Fiscal Year
Insurance Department
Budget
Dept Budget per $1,000
Premium
2013
2014
$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 2014 Insurance Market In Washington
Premium by Line of Business in Washington
Total Direct Premium Written & Deposits In-State
All Types of Insurance
$40,000
$35,000
$30,000
$10,000
$39,507
$36,041
$34,850
$33,282
$31,983
$31,762
$31,945
$31,322
$15,000
$30,353
$20,000
$28,116
Millions
$25,000
2014
2013
2012
2011
2010
2009
2008
2007
2005
$0
2006
$5,000
Year
Source: National Association of Insurance Commissioners
Line of Business
Premium
Written
State
Rank
% of
U.S.
Automobile
Workers' compensation
$4,699,105,092
14
2.15%
$1,696,740,645
10
2.85%
Homeowners multiple peril
$1,521,727,922
24
1.76%
Other
$1,130,993,564
14
1.84%
Commercial multi peril
$775,985,753
14
1.99%
Ocean & Inland Marine
$531,974,115
12
2.46%
Fire
$202,203,520
20
1.60%
Farm
$185,622,800
22
1.36%
Medical professional liability
$176,091,879
17
1.82%
Earthquake
$162,244,874
2
7.05%
Allied lines
$141,872,394
25
1.09%
Mortgage guaranty
$138,167,392
13
3.05%
Surety
$131,446,164
11
2.41%
Accident & Health
$88,721,839
20
1.58%
Products liability
$48,905,738
21
1.46%
Boiler and machinery
$33,783,198
15
2.26%
Aircraft (all perils)
$31,936,061
15
2.13%
Federal flood
$29,605,813
18
0.98%
Credit
$28,074,670
19
1.64%
Fidelity
$18,046,083
21
1.49%
Crop
$17,015,312
11
1.76%
Burglary and theft
$4,376,132
19
1.65%
Financial guaranty
$839,515
27
0.18%
$11,795,480,461
14
2.08%
Total
Source: National Association of Insurance Commissioners
667
680
712
745
776
2010
2011
2012
2013
2014
2009
2008
Figures include data from State Funds where applicable.
Copyright ©2015 National Association of Insurance Commissioners. All rights reserved.
13,998
14,624
15,329
16,201
2010
2011
2012
2013
18,516
13,616
2009
* 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.
2014
13,057
2014
2013
2012
2011
2010
$0
2009
$0
2008
$4,000
2007
$2,000
2008
$8,000
12,262
$12,000
2007
8,865
8,264
8,086
8,000
7,671
7,719
8,417
8,207
$6,000
8,320
691
747
2007
$16,000
(Millions)
$8,000
11,468
2013
2012
$20,000
$4,000
727
730
(Millions)
1,522
1,470
1,402
1,356
2011
2010
2009
2014
Premiums Written & Deposits for
Health Insurance **
$10,000
2014
2013
2012
2011
2010
2009
2008
2007
$40
2006
2008
$0
2007
$100
2006
176
189
201
204
206
201
215
255
240
$160
(Millions)
$200
(Millions)
$200
$0
2014
2013
2012
2011
2010
2009
2008
2007
2006
$240
$0
$300
Premium Written & Deposits for
Life Insurance *
$280
$80
$400
$200
Premium Written for Medical
Liability Insurance
$120
1,314
$600
1,257
$500
$800
1,194
$600
$1,000
1,155
$700
$1,200
$400
$1,000
$0
$800
$1,400
1,112
(Millions)
4,699
4,473
4,261
4,174
4,237
4,213
4,302
$2,000
4,264
$3,000
4,047
(Millions)
$4,000
$1,600
2006
$5,000
Premium Written for
Commercial MP Insurance
2006
Premium Written for
Homeowners Insurance
2006
Premium Written for Automobile
Insurance
State Insurance Regulation in Washington: Key Facts and Market Trends
Overview of the 2014 Insurance Market In Washington
Insurance Industry Employment in Washington
Insurance
Carriers and
Related
Activities
Insurance
Carriers
2007
37,818
21,735
16,083
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
Year
Gross Domestic Product for Washington
Agents Broker
and Other
Related
Funds, trusts, and other
financial vehicles
Activities
Insurance carriers and
related activities
Securities, commodity
contracts, and investments
Federal Reserve banks,
credit intermediation, and
related services
Finance and insurance
(Millions)
2011
2012
2013
2014
$517
$437
$324
N/A
$5,804
$5,544
$5,898
N/A
$1,724
$2,042
$2,244
N/A
$5,846
$6,432
$7,271
N/A
$13,891 $14,455
$15,736
$16,173
Note: 2014 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, 2013
Federal Reserve
banks, credit
intermediation,
and related
services
46.20%
Funds, trusts,
and other
financial vehicles
2.06%
Insurance
carriers and
related activities
37.48%
Securities,
commodity
contracts, and
investments
14.26%
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