Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $142,584,000 in 2015. The highest amount was $316,167,000 in 2022. This represents an increase of over 120% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $43,344,000 or 15.9% (from $272,823,000 to $316,167,000). The smallest year-over-year increase was 2.8%, from $154,142,000 in 2017 to $158,707,000 in 2018. Similarly, direct premiums earned also increased each year. The lowest amount was $139,500,000 in 2015 and the highest was $300,055,000 in 2022. This is an increase of over 115% over the period.

The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $49,789,000 or 19.9% (from $250,266,000 to $300,055,000). The smallest increase was 2.5%, from $141,106,000 in 2016 to $144,733,000 in 2017.

Loss Ratios for Fire

The loss ratio data for Fire insurance in Colorado reveals notable fluctuations over the years. The lowest loss ratio occurred in 2015 at 33.52%, with a significant increase to 65.4% in 2017 and a negligible reduction to 65.38% in 2018.

However, a marked decrease to 41.7%. The loss ratio rose again in 2020 to 49.27%, yet this is still considerably lower than the 2017 and 2018 figures. A striking outlier year is 2021, with a loss ratio of 91.94%, the highest in the dataset, requiring scrutiny for potential causes. The trend sharply reverses in 2022, recording the lowest loss ratio of 19.57%. 

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and earned for allied lines insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $156,788,000 in 2015.

This increased each year, with the highest amount being $359,894,000 in 2022 - more than double the 2015 figure. Direct premiums earned followed a similar trajectory, growing from $156,529,000 in 2015 to $336,245,000 in 2022.

This represents an increase of 114% over the 8 year period. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $32,914,000 or 13.8% (from $238,325,000 to $270,239,000). The smallest increase was just 2.9% from 2016 to 2017 ($163,820,000 to $176,642,000).

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Colorado demonstrates notable shifts and variations throughout the years 2015 to 2022. In 2015, the loss ratio began at a relatively high 79.69%, but escalated dramatically to 141.34% in 2016 and peaked at 262.17% in 2017.

However, a decline in loss ratio followed in the subsequent years, with 2018 recording 164.66% and 2019 registering 86.26%. This downward trend continued in 2020, dropping to 51.57%. More recently, the loss ratios for 2021 and 2022 indicate a slight resurgence, reaching 68.04% and 72.72%, respectively.

Direct and Earned Premiums for Multi-Peril Crop

The data shows that direct premiums written and direct premiums earned for Federal Multi-Peril Crop insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $168,919,000 in 2015. This increased to $243,454,000 in 2021, representing a 44% increase over that period.

The highest amount of direct premiums written was $362,345,000 in 2022, which was a 49% increase from 2021. For direct premiums earned, the lowest amount was $153,252,000 in 2015. This steadily increased to $220,403,000 in 2021, representing a 44% increase. The highest direct premiums earned was $326,456,000 in 2022, which was a 48% jump from 2021.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $118,891,000 or 49%. The smallest year-over-year increase was just 2% between 2018 and 2019. For direct premiums earned, the biggest jump was also between 2021 and 2022 at 48%, while the smallest increase was only 3% between 2016 and 2017.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data in Colorado displays notable fluctuations over the years, with a pattern of increasing loss ratios since 2015. The lowest loss ratio was recorded in 2016 at 33.94%, while the highest occurred in 2022 at 145.07%.

A significant spike is observed in 2018, with a loss ratio of 95.11%, and an even higher increase in 2020, reaching 133.67%. In contrast, there are years with relatively lower loss ratios, such as 2015 with 67.22% and 2019 with 58.17%. The years 2021 and 2022, however, show an upward trend with loss ratios of 82.39% and 145.07%, respectively.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $11,024,000 in 2022, down significantly from $14,581,000 in 2019. The highest amount of direct premiums written was $14,581,000 in 2019. Direct premiums written increased from $14,331,000 in 2015 to a peak of $14,581,000 in 2019, before decreasing to $11,024,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $730,000 or 5.3% (from $13,851,000 to $14,581,000). Direct premiums earned followed a similar pattern to direct premiums written over the period, ranging from a low of $12,851,000 in 2022 to a high of $14,761,000 in 2015. The largest year-over-year increase in direct premiums earned was from 2015 to 2016, when it grew by $574,000 or 3.9% (from $14,761,000 to $15,335,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio data in Colorado displays notable trends and variations over the years. From 2015 to 2018, there is a consistent decrease in loss ratios, starting at 13.38% in 2015, dropping to a low of 4.25% in 2018.

However, data for 2019 and 2020 is missing, creating a gap in the analysis and limiting the understanding of the loss ratio progression during those years. In 2021, the loss ratio reaches its lowest point at 2.16%, potentially indicating continued advancements in flood risk management. The year 2022 sees a slight increase in the loss ratio to 4.89%, yet remaining relatively low compared to earlier years. 

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $12,673,000 in 2017, while the highest was $20,106,000 in 2021. This represents an increase of 58.7% from the low point in 2017 to the high point in 2021.

Direct premiums written decreased from $16,397,000 in 2015 to $12,673,000 in 2017, before increasing again to $20,106,000 in 2021. The largest year-over-year increase was from 2019 to 2020, when direct premiums written grew by $3,514,000 or 18.9% (from $18,548,000 to $20,106,000). The smallest year-over-year change was a decrease of just $724,000 or -5.7% between 2016 and 2017 (from $14,383,000 to $12,673,000).

Direct premiums earned followed a similar pattern, ranging from a low of $13,094,000 in 2017 to a high of $20,120,000 in 2021. This was an increase of 53.6% over the period. The largest year-over-year increase in direct premiums earned was also between 2019 and 2020, growing by $3,594,000 or 19.4%.

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Colorado indicates notable variations over the years. In 2015, the loss ratio was 74.88%, but it escalated significantly to 104.82% in 2016. The data then slightly declined to 81.92% in 2017, yet it surged to 147.0% in 2018 and further peaked at 165.77% in 2019, showing an exceptional deviation.

However, in 2020, a significant drop to 118.27% was noted. In the most recent years, 2021 and 2022, the loss ratios significantly decreased to 44.1% and 34.15% respectively. 

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and direct premiums earned for private flood insurance in Colorado increased substantially from 2016 to 2022. The lowest amount of direct premiums written was $4,736,000 in 2016. This steadily increased each year, with the highest amount being $17,652,000 in 2022. This represents an increase of over 270% over the 7 year period. Direct premiums earned followed a similar trajectory, starting at $2,620,000 in 2016 and reaching $16,857,000 in 2022.

This is an increase of over 540% over the period. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $3,687,000 or 33% (from $11,117,000 to $14,804,000). The smallest year-over-year increase was 19% between 2017 and 2018 (from $6,098,000 to $6,815,000).

For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $3,425,000 or 48% (from $7,201,000 to $9,626,000). The smallest increase was 4% between 2018 and 2019 (from $5,960,000 to $7,201,000).

Loss Ratios for Private Flood

The Private Flood Insurance loss ratio data for Colorado shows significant fluctuations. In 2016, the loss ratio was at a minimal 1.09%, then experienced an extreme surge to 224.92% in 2017.

Notably, no data is available for 2018. From 2019 to 2021, the loss ratios were relatively stable, with slight annual increases. They went from 8.25% in 2019, to 8.44% in 2020, and 9.62% in 2021. However, a decrease to 6.84% was observed in 2022. While this is a reduction, it's still higher than the 2016 value.

Direct and Earned Premiums for Farmowners Multiple Peril

The data shows that direct premiums written and direct premiums earned for farmowners multiple peril insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $78,943,000 in 2015.

The highest was $113,135,000 in 2022. This represents an increase of over 43% over the 8 year period. The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $9,829,000 or 9.5% (from $103,306,000 to $113,135,000).

The smallest year-over-year increase was 1.4%, from $80,759,000 in 2017 to $81,862,000 in 2018. The direct premiums earned followed a similar upward trend as the direct premiums written, with the lowest amount being $77,421,000 in 2015 and the highest being $108,368,000 in 2022.

This was an increase of over 40% in direct premiums earned over the period. As with the direct premiums written, the largest year-over-year increase in direct premiums earned was between 2021 and 2022 at 9.0% (from $99,687,000 to $108,368,000). The smallest increase was 1.9% between 2017 and 2018.

Loss Ratios for Farmowners Multiple Peril

The loss ratio data for Farmowners Multiple Peril in Colorado presents some distinct patterns and shifts over the examined period. The loss ratios vary significantly, with the lowest at 44.39% in 2021 and reaching its peak at 108.54% in 2018. Following 2018, the loss ratio experienced a drop to 72.49% in 2019 and a slight increase to 81.05% in 2020.

This data set displays a trend of fluctuation, notably with a steep decline in 2021. However, 2022 shows an increase again to 68.02%. It is noteworthy that the years 2016 and 2020 posted relatively high loss ratios, above 75%.

Direct and Earned Premiums for Homeowners Multiple Peril

The data shows that direct premiums written and direct premiums earned for homeowners multiple peril insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $202,478,500 in 2015. This increased each year, with the highest amount being $380,693,000 in 2022. This represents an increase of 88% over the 8 year period. Similarly, direct premiums earned grew from $195,346,400 in 2015 to $351,385,900 in 2022, an increase of 80%.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $114,252,600 or 35% (from $326,464,100 to $380,693,000). The smallest year-over-year increase was 6.7%, from $228,230,300 in 2017 to $244,682,800 in 2018.

In most years, direct premiums earned lagged slightly behind direct premiums written. The gap between the two metrics grew over time, from around $7 million in 2015 to over $29 million in 2022.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril insurance in Colorado presents notable trends and fluctuations across the years. The loss ratios vary significantly, with the highest value of 127.24% in 2018. The lowest loss ratio occurred in 2015 at 62.29%, marking a comparatively stable year for the insurance market.

Between 2016 and 2017, loss ratios remained consistently high, with values of 83.72% and 83.66%, respectively. Following the peak in 2018, loss ratios decreased to 74.6% in 2019 and further to 69.67% in 2020. However, the loss ratio increased again in 2021, reaching 91.45%, before dropping to 54.04% in 2022.

Direct and Earned Premiums for Commercial Multiple Peril

The data shows that direct premiums written and direct premiums earned for commercial multiple peril insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $761,544,000 in 2015. This increased each year, reaching $1,177,366,000 in 2022 - an overall increase of 54.5% over the 8 year period.

Direct premiums earned followed a similar trajectory, growing from $745,097,000 in 2015 to $1,118,033,000 in 2022, an increase of 50.0%. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $126,102,000 or 12.0% (from $1,047,264,000 to $1,177,366,000). The smallest increase was just 2.3% between 2015 and 2016.

For direct premiums earned, the biggest jump was also from 2021 to 2022 at 11.1% (from $1,006,326,000 to $1,118,033,000). The smallest increase was again from 2015 to 2016 at 2.5%.

Loss Ratios for Commercial Multiple Peril

Analyzing the loss ratio data for Commercial Multiple Peril in Colorado presents interesting trends over the years. The loss ratios demonstrated substantial variability, with a peak of 117.25% in 2017 and a trough of 47.33% in 2022. The years 2017 and 2018 recorded strikingly high loss ratios, over 115%.

In contrast, 2020 experienced a significant reduction in loss ratio to 59.31%. The years 2021 and 2022 continued to display a downward trend with loss ratios of 68.64% and 47.33%.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $119,207,000 in 2017, while the highest was $141,177,000 in 2021. This represents an increase of 18.5% from the low point in 2017 to the high point in 2021.

Direct premiums written increased each year from 2015 to 2019, going from $131,372,000 to $138,317,000 over that period. The largest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $12,202,000 or 9.7% (from $126,115,000 to $138,317,000). After peaking in 2021, direct premiums written decreased to $138,799,000 in 2022.

Direct premiums earned followed a similar pattern, starting at $122,012,000 in 2015 and reaching a high of $158,680,000 in 2020 before decreasing to $145,284,000 in 2022. The largest year-over-year increase was from 2019 to 2020, when direct premiums earned grew by $8,666,000 or 5.8% (from $150,140,000 to $158,680,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Colorado from 2015 to 2022 presents an interesting pattern. Starting with a negligible loss ratio of 0.04% in 2015, it escalated to 1.14% in 2016. Data for 2017 and 2018 are not available, making trend analysis challenging for these years. In 2019, the loss ratio decreased slightly to 0.93%, only to skyrocket to 23.33% in 2020. However, the loss ratio dropped sharply again to 3.02% in 2021. The loss ratio for 2022 is not available.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $12,813,000 in 2015. This increased to $14,214,000 in 2016 before dropping slightly to $13,289,000 in 2017.

Direct premiums written then increased each year from 2018 to 2022. The highest amount was $28,277,000 in 2022, representing an increase of over 120% from the 2015 low.

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount of $12,288,000 occurring in 2015. The highest direct premiums earned was $27,785,000 in 2022. This was a 126% increase over the 8 years.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $12,238,000 or 56% (from $21,745,000 to $22,983,000). The smallest year-over-year increase was just 2.8%, from $13,289,000 in 2017 to $13,559,000 in 2018.

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data for Colorado exhibits notable fluctuations and trends over the years. In particular, the loss ratios range from a low of 20.56% in 2019 to a high of 74.6% in 2021, displaying significant variability.

The years 2015 and 2019 saw the lowest loss ratios at 23.6% and 20.56%, respectively, while 2017 and 2021 experienced the highest loss ratios at 68.59% and 74.6%, respectively. An interesting pattern emerges when observing the data in two-year intervals. From 2015 to 2016, there is an increase in the loss ratio from 23.6% to 43.62%, followed by a sharp increase in 2017 to 68.59%.

However, the loss ratio drops significantly in 2018 to 34.34% and further decreases to 20.56% in 2019. This downward trend reverses in 2020, with the loss ratio climbing back to 43.35% and peaking at 74.6% in 2021. The most recent year, 2022, shows a decrease in the loss ratio to 44.19%.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Colorado increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $352,254,000 in 2015. This steadily increased each year, with the exception of a slight dip from $497,293,000 in 2019 to $476,758,000 in 2020. The highest direct premiums written was $675,923,000 in 2022, nearly double the 2015 amount.

Direct premiums earned followed a similar trajectory, starting at $345,037,000 in 2015 and reaching $632,317,000 in 2022. This represents an 83% increase over the period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $110,139,000 or 19.4% (from $565,784,000 to $675,923,000). The smallest increase was just 2.7% between 2020 and 2021.

For direct premiums earned, the biggest jump was 20.6% from 2021 to 2022, increasing by $103,169,000. The smallest increase was 1.9% from 2016 to 2017.

Loss Ratios for Commercial Inland Marine

The loss ratio data for Inland Marine insurance in Colorado presents notable variations across the years 2015 to 2022. In 2015, the loss ratio was 54.61%, followed by a slight increase in 2016 to 57.2%. The lowest point occurred in 2017, with a loss ratio of 50.25%. However, 2018 saw a significant surge to 63.23%, the highest value within this period.

From 2019 onwards, the loss ratios began to fluctuate again, with a drop to 47.21% in 2019, followed by an increase to 53.31% in 2020. A subsequent decline to 43.91% occurred in 2021, before rising again to 55.58% in 2022. Despite these fluctuations, the overall trend does not indicate a clear direction, as the values seem to oscillate without a consistent pattern.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $3,613,000 in 2015. The highest amount was $37,288,000 in 2019. This represents an over 10-fold increase from 2015 to 2019.

Direct premiums earned followed a different trend. The lowest amount was $6,805,000 in 2021 and the highest was $38,551,000 in 2016. Looking at year-over-year changes, the largest increase in direct premiums written was from 2018 to 2019, when it grew by $33,389,000 or 681%.

The largest decrease was from 2019 to 2020, when direct premiums written fell by $33,969,000 or 91%. For direct premiums earned, the biggest year-over-year increase was from 2015 to 2016, when it grew by $15,527,000 or 67%. The largest decrease was from 2017 to 2018, when direct premiums earned fell by $16,906,000 or 83%.

Loss Ratios for Commercial Financial Guaranty

The loss ratio data for Financial Guaranty in Colorado exhibits some interesting patterns between 2015 and 2022. In 2015, the loss ratio was relatively high at 1.32%. However, data for the years 2016, 2017 and 2018 are missing, making it challenging to establish a clear trend over these years. In 2019, the loss ratio dropped to just 0.01%, a significant decrease compared to 2015.

From 2020 to 2022, the loss ratio remained stable at 0.0%, indicating no losses in the Financial Guaranty line of business in Colorado. The data suggests a sharp decline in loss ratio from 2015 to 2019, followed by a plateau from 2020 onwards. The missing data for 2016 to 2018 limits a comprehensive trend analysis, but the available data points towards significant improvement over the years.

Direct and Earned Premiums for Medical Professional Liability

The data shows that direct premiums written and direct premiums earned for medical professional liability insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $149,174,000 in 2018. The highest amount was $187,932,000 in 2022. This represents an increase of over 25% from the low in 2018 to the high in 2022.

Direct premiums written decreased from $160,999,000 in 2015 to $149,174,000 in 2018, before increasing each year to $187,932,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $21,266,000 or 13.6% (from $156,463,000 to $177,729,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $149,922,000 in 2018 and the highest being $188,688,000 in 2022. This was an increase of over 25% as well. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, growing by $18,849,000 or 12.2% (from $154,678,000 to $174,527,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Colorado over the years presents some interesting patterns. The loss ratio was relatively low at 32.35% in 2015, then it saw a steady increase, peaking at 48.7% in 2017. This indicates a rise in claims or a drop in premiums during this period.

The subsequent two years, 2018 and 2019, saw a slight decrease in loss ratios, settling around 41%. However, the year 2020 saw a significant drop in loss ratio to just 26.26%, the lowest in this period. The loss ratio rebounded in 2021 to 46.67%, almost returning to its 2017 peak, before slightly dropping to 43.57% in 2022.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $8,935,000 in 2016. The highest was $17,161,000 in 2022.

Direct premiums written increased overall during the period, with the exception of a dip from $10,800,000 in 2015 to $8,935,000 in 2016. Similarly, direct premiums earned were lowest at $9,282,000 in 2016 and highest at $16,915,000 in 2022.

Direct premiums earned followed a similar pattern to direct premiums written, with a decrease from 2015 to 2016, and then overall growth through 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when they grew by $1,910,000 or 11.8% (from $16,251,000 to $17,161,000). The smallest year-over-year increase was just 1.9%, from $10,049,000 in 2018 to $10,231,000 in 2019.

Loss Ratios for Earthquake

The loss ratio data for earthquake insurance in Colorado suggests considerable variability over the years. Of note, the loss ratios were particularly low in 2017 and 2018, at 2.73% and 1.09%, respectively. However, 2019 saw a dramatic increase, with the loss ratio shooting up to 40.73%, a significant deviation from the preceding years.

The loss ratio then dropped again in 2020 to a mere 1.15%, similar to the levels seen in 2017 and 2018. The subsequent year, 2021, experienced another surge, with the loss ratio reaching 32.04%. Unfortunately, data for 2015, 2016, and 2022 is unavailable, limiting the scope of trends analysis.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $93,920,000 in 2020, while the highest was $1,027,206,000 in 2022.

Direct premiums written increased each year from 2015 to 2018, with the largest year-over-year increase of $1,000,000 or 0.9% occurring from 2017 to 2018 (from $107,668,000 to $109,665,000). After peaking in 2018, direct premiums written decreased in 2019 and 2020, before rebounding in 2021 and 2022. Similarly, direct premiums earned were lowest in 2020 at $94,468,000 and highest in 2022 at $102,015,000.

The trends in direct premiums earned largely mirrored those of direct premiums written, with steady increases from 2015 to 2018, decreases in 2019 and 2020, and increases again in 2021 and 2022. The largest year-over-year increase in direct premiums earned was from 2017 to 2018 at $3,342,000 or 3.1% (from $106,223,000 to $109,651,000).

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for Colorado over the years exhibits some noteworthy patterns. Loss ratios declined consistently from 57.51% in 2015 to 45.34% in 2019. However, there was a reversal in trend in 2020, with the loss ratio rising to 51.52%.

In the following years, the loss ratios fluctuated moderately, settling at 53.0% in 2022. This indicates a slight increase compared to 2021's ratio of 48.28%. Despite minor fluctuations, the overall trend from 2015 to 2022 shows a decline in loss ratios.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Colorado increased overall from 2015 to 2022. The lowest amount of direct premiums written was $64,623,000 in 2015. The highest was $100,438,000 in 2022, representing an increase of 55% over the 8 year period.

Direct premiums written increased each year except for a dip from $76,160,000 in 2017 to $78,883,000 in 2018. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $7,341,000 or 7.9% (from $93,097,000 to $100,438,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $63,475,000 in 2015 and the highest being $97,834,000 in 2022, a 54% increase. The largest year-over-year increase in direct premiums earned was from 2019 to 2020, growing by $4,630,000 or 5.4% (from $86,064,000 to $90,694,000).

Loss Ratios for Product Liability

The loss ratio data for Products Liability in Colorado exhibits notable shifts and trends over the years. In 2015, the loss ratio was 54.21%, followed by a decrease to 44.7% in 2016. However, the loss ratio increased again in 2017 to 54.35%.

A significant outlier is observed in 2018, with a high ratio of 87.03%. Following the peak in 2018, there was a steady decline in loss ratios from 2019 (31.44%) to 2021 (24.61%). Interestingly, a substantial increase to 146.53% occurred in 2022.

Direct and Earned Premiums for Private Passenger Auto

The data shows that direct premiums written and direct premiums earned for private passenger auto insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $3,634,851,000 in 2015. The highest amount was $6,062,525,000 in 2022. This represents an increase of over 66% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $1,557,643,000 or 27.8% (from $5,604,882,000 to $6,062,525,000). The smallest year-over-year increase was 6.4%, from $5,377,131,000 in 2020 to $5,604,882,000 in 2021.

The direct premiums earned followed a similar pattern, with the lowest amount being $3,528,263,000 in 2015 and the highest being $5,879,572,000 in 2022. This was an increase of 66.7% over the period. The largest year-over-year increase in direct premiums earned was 25.9%, from $5,539,710,000 in 2021 to $5,879,572,000 in 2022. The smallest increase was 4.0%, from $5,225,937,000 in 2019 to $5,344,701,000 in 2020.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Colorado reveals noteworthy patterns over the years. In 2015, the loss ratio was at a high of 75.41%, and it experienced a significant increase in 2016, reaching an apex of 84.95%. The following year, 2017, saw a slight dip to 82.18%, but this was followed by a slight increase to 84.69% in 2018.

A considerable drop was observed in 2019, with the loss ratio plummeting to 69.11%. This downward trend was more pronounced in 2020, where the loss ratio reached a low of 53.33%. In 2021, there was a minor increase to 59.05%, followed by a larger jump to 68.29% in 2022.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $483,447,000 in 2015. The highest amount was $998,612,000 in 2022. This represents an increase of over 106% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $98,839,000 or 12.2% (from $810,249,000 to $909,043,000). The smallest year-over-year increase was 6.9%, from $583,462,000 in 2017 to $684,842,000 in 2018. Similarly, direct premiums earned also increased steadily over the period.

It grew from $463,935,000 in 2015 to $961,840,000 in 2022, an increase of over 107%. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $83,789,000 or 10.8% (from $777,896,000 to $861,685,000). The smallest increase was 5.8%, from $500,391,000 in 2016 to $554,555,000 in 2017.

Loss Ratios for Commercial Auto

The Commercial Auto Total for Colorado shows intriguing dynamics from 2015 to 2022. The loss ratio percentage exhibits a rising trend from 68.29% in 2015 to a peak of 81.17% in 2018. However, a significant decline is observed in 2019, with the loss ratio falling to 68.04%.

This downward trend continues until 2021, where it hits a low of 56.06%. Interestingly, there's a slight rebound in 2022, with the loss ratio rising to 62.9%. 

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $32,300,000 in 2015. The highest amount was $84,036,000 in 2022. This represents an increase of over 160% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $24,459,000 or 40.3% (from $60,667,000 to $85,126,000). The smallest year-over-year increase was 2.8%, from $46,217,000 in 2018 to $47,394,000 in 2019. The direct premiums earned followed a similar upward trend over the period, with the lowest amount being $37,081,000 in 2015 and the highest being $84,458,000 in 2022.

The largest year-over-year increase in direct premiums earned was from 2021 to 2022, when it grew by $40,007,000 or 53.7% (from $74,551,000 to $84,458,000). The smallest increase was 1.8%, from $45,671,000 in 2017 to $46,505,000 in 2018.

Loss Ratios for Aircraft

The loss ratio data for Aircraft insurance in Colorado displays significant volatility over the years. The highest loss ratio was recorded in 2017 at 91.33%. This was followed by a sharp decrease to 41.5% in 2018.

The years 2015 and 2019 also showed relatively high loss ratios at 79.31% and 77.21% respectively. However, these spikes were followed by significant reductions in the subsequent years, with loss ratios falling to 48.88% in 2016 and 47.37% in 2020. The most recent years, 2021 and 2022, had loss ratios of 42.82% and 61.25% respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $22,948,000 in 2015. The highest amount was $29,014,000 in 2022. This represents an increase of over 26% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $4,464,000 or 16.8% (from $26,550,000 to $29,014,000). The smallest year-over-year increase was 1.6%, from $24,206,000 in 2017 to $24,572,000 in 2018.

The direct premiums earned followed a similar trend, increasing each year from 2015 to 2022. The lowest amount was $22,933,000 in 2015 and the highest was $28,188,000 in 2022, a 23% increase. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 8.2% (from $26,087,000 to $28,188,000). The smallest increase was 0.7% from 2016 to 2017.

Loss Ratios for Fidelity

The Fidelity loss ratio data for Colorado displays notable variations over the years. In 2015, the loss ratio stood at 25.66% which nearly doubled to 49.41% in 2016. A marked decrease is observed in 2017, dropping to a low of 20.07%, continuing to dip to 13.63% in 2018, and reaching the lowest point at 5.66% in 2019.

However, in 2020, a significant surge occurred, with the ratio escalating to 41.35%, almost mirroring the 2016 level. Interestingly, in 2021, the loss ratio plummeted to its absolute minimum at 4.37% before bouncing back to 40.73% in 2022. The data highlights two peak years, 2016 and 2020, with loss ratios around 50%, interspersed with years of considerably lower ratios. The most recent years, 2021 and 2022, show a stark contrast in loss ratio percentages.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in Colorado increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $118,973,000 in 2015. This increased each year, with the highest amount being $198,248,000 in 2022. This represents an overall increase of 66.6% over the 8 year period.

The direct premiums earned follow a similar trend, starting at $114,315,000 in 2015 and reaching $181,030,000 in 2022, a 58.4% increase. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $36,358,000 or 22.5% (from $161,890,000 to $198,248,000). The smallest increase was just 0.7% from 2019 to 2020 ($147,684,000 to $147,778,000).

For direct premiums earned, the biggest jump was also from 2021 to 2022, increasing by $25,602,000 or 16.5% (from $155,428,000 to $181,030,000). The smallest increase was 0.5% from 2016 to 2017 ($117,122,000 to $123,420,000).

Loss Ratios for Surety

The loss ratio percentage for the Surety line of business in Colorado reveals a general upward trend over the years. Starting at a low point of 2.29% in 2015, the ratio saw a notable jump to 8.93% in 2016, and continued to rise to 15.69% in 2017.

However, there was a slight dip in 2018, with the percentage dropping to 8.19%. In the subsequent years, the percentages resumed their upward trajectory, with 13.19% in 2019 and 11.86% in 2020, despite a minor drop compared to the previous year. However, the years 2021 and 2022 saw a significant increase, with loss ratios escalating to 20.53% and 28.94% respectively.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and earned for warranty insurance in Colorado fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $14,990,000 in 2017, while the highest was $41,224,000 in 2022.

Direct premiums earned ranged from a low of $8,676,000 in 2021 to a high of $26,219,000 in 2016. Overall, direct premiums written increased from $20,856,000 in 2015 to $41,224,000 in 2022, representing growth of nearly 100% over the 8 year period. However, there were decreases in 2016 and 2017 before rebounding. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when premiums grew by $12,346,000 or 37.5% (from $32,878,000 to $41,224,000).

For direct premiums earned, there was a general downward trend from 2016 to 2021, with the amount earned dropping over 80% from $26,219,000 to $8,676,000. This was followed by a large increase to $26,681,000 in 2022. The biggest year-over-year decline was from 2020 to 2021, when direct premiums earned decreased by $8,973,000 or 50.9% (from $17,649,000 to $8,676,000).

Loss Ratios for Warranty

The loss ratio data for Warranty in Colorado demonstrates interesting patterns between 2015 and 2022. The loss ratios were relatively stable from 2015 to 2018, fluctuating modestly between 47.11% and 51.05%.

However, there was a surge to 78.33% in 2019. The year 2020 saw a sharp decrease to 43.1%. But, 2021 recorded a staggering loss ratio of 103.34%, the highest in the observed period, implying more losses were paid out than premiums earned. In contrast, 2022 shows a drop to 57.07%.