Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Florida fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $1,193,788,000 in 2017, while the highest was $1,955,880,100 in 2022. Direct premiums written increased each year from 2017 to 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $255,818,000 or 17.3% (from $1,477,309,000 to $1,733,127,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the lowest amount being $1,196,189,000 in 2017 and the highest being $1,777,464,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $222,086,000 or 15.8% (from $1,405,654,000 to $1,628,740,000). 

Loss Ratios for Fire

The loss ratio data for Fire insurance in Florida shows notable fluctuations over the eight-year period. In 2015, the loss ratio was relatively low at 17.59%, but it increased to 26.64% in 2016. A significant jump was observed in 2017 and 2018, with loss ratios reaching 73.84% and 74.45%, respectively.  

The loss ratio then decreased to 47.1% in 2019 and marginally increased to 49.13% in 2020, indicating a potential stabilization. However, this was followed by a decrease to 41.55% in 2021, before surging to 77.9% in 2022, the highest point during this period. 

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in Florida fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $2,129,125,000 in 2017, while the highest was $4,858,552,000 in 2022. This represents an increase of over 128% from the low in 2017 to the high in 2022. 

Direct premiums written decreased from $2,633,607,000 in 2015 to $2,127,125,000 in 2017, before increasing again to $4,858,552,000 in 2022. The largest year-over-year increase was from 2020 to 2021, when direct premiums written grew by $446,644,000 or 14.3% (from $3,119,459,000 to $3,607,103,000). 

Direct premiums earned followed a similar pattern to direct premiums written over the period. The lowest amount was $2,166,679,000 in 2017 and the highest was $4,201,874,000 in 2022, representing a 94% increase. 

The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, growing by $387,914,000 or 13.2% (from $2,927,449,000 to $3,360,362,000). 

Loss Ratios for Allied Lines

The Allied Lines loss ratio percentages in Florida from 2015 to 2022 display significant variability. The data shows a substantial increase from 10.95% in 2015 to a peak of 199.51% in 2017. This spike in 2017 signals an unusually high claim year. 

Post-2017, the loss ratios decreased substantially to 108.36% in 2018, and further declined to 49.98% in 2019. However, these improvements seem relatively short-lived as the loss ratio increased slightly in 2020 to 53.23%. 

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 Florida fluctuated between 2015 and 2022, but overall showed an upward trend. The lowest amount of direct premiums written was $82,588,000 in 2015. 

This increased to $92,342,000 in 2016, a 12% increase from the previous year. After a slight dip in 2017 to $91,166,000, direct premiums written rose steadily from 2018 to 2020. The highest amount was $193,021,000 in 2020, over double the 2015 amount. 

Direct premiums earned followed a similar pattern, with the lowest amount being $76,402,000 in 2015 and the highest being $187,709,000 in 2020. This represents a 146% increase over the 6 year period. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $60,975,000 or 44%. 

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data for Florida shows notable variability over the years. In 2015, the ratio was at a moderate 29.15%, but it escalated to 58.17% in 2016. A substantial increase was observed in 2017, with the ratio reaching a peak of 218.41%. The following year, 2018, witnessed a slight decrease to 191.3%, yet still remained relatively high.

A dramatic downturn occurred in 2019, with the loss ratio retracting to 26.45%. By 2020, the ratio moderately increased to 44.24% before jumping significantly to 83.02% in 2021. The most recent year, 2022, shows another sharp increase, with the ratio reaching 202.48%. 

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $812,583,000 in 2017. The highest was $911,532,000 in 2021. 

This represents an increase of 12.2% from the low in 2017 to the high in 2021. Direct premiums written increased each year from 2015 to 2019, with the exception of 2016 which saw a slight decrease from $812,917,000 in 2015 to $822,361,000 in 2016. 

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $31,907,000 or 3.7% (from $859,228,000 to $890,135,000). Direct premiums earned followed a similar pattern to direct premiums written over the time period. The lowest amount was $805,615,000 in 2017 and the highest was $896,361,000 in 2021, a 11.3% increase. The largest year-over-year increase in direct premiums earned was also from 2019 to 2020, when it grew by $35,788,000 or 4.3% (from $841,524,000 to $877,312,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for Florida shows considerable volatility over the observed years. The loss ratio in 2015 was a mere 3.03%, but it escalated to 32.34% the subsequent year. The year 2017 marked a significant anomaly, with the loss ratio exceeding 100% at 103.53%. Following this, there was a sharp decline to 30.83% in 2018 and an even steeper fall to 3.05% in 2019. 

In 2020, the ratio climbed again to 33.77%, only to drop to its lowest of 1.94% in 2021. The most notable shift occurred in 2022, where the loss ratio skyrocketed to an unprecedented 372.26%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and earned for private crop insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $143,000 in 2018, while the highest was $720,000 in 2019. 

This represents an over 400% increase from the low in 2018 to the peak in 2019. Direct premiums written increased from $425,000 in 2015 to $720,000 in 2019, before decreasing to $443,000 in 2021, and then increasing again to $613,000 in 2022. 

The largest year-over-year increase was from 2018 to 2019, when direct premiums jumped by $577,000 or over 400%. The largest decrease was from 2019 to 2020, when premiums dropped by $177,000 or 24.6%. 

Direct premiums earned followed a similar pattern, ranging from a low of $171,000 in 2018 to a high of $666,000 in 2019. The biggest year-over-year change in earned premiums was from 2018 to 2019, increasing by $495,000 or 289%.

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Florida exhibits considerable fluctuation over the years. The loss ratios show a notable decrease from 35.54% in 2015 to a low of 18.61% in 2017. However, the year 2018 presents an extreme spike, soaring to 617.96%, which could be an outlier needing further scrutiny. Following this, there is a significant drop to 49.97% in 2019, suggesting a possible rectification of the previous year's anomaly.

The year 2020, however, witnesses another substantial increase, rocketing to 468.87%, indicating persistent volatility in the loss ratio. The data for 2021 is unavailable, but in 2022, the loss ratio settles at 97.62%.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Florida increased substantially from 2016 to 2022. The lowest amount of direct premiums written was $47,796,000 in 2016. This steadily increased each year, with the highest amount being $247,186,000 in 2022. This represents an over 5 times increase in direct premiums written over the 7 year period. 

Direct premiums earned followed a similar trajectory, starting at $27,342,000 in 2016 and reaching $217,331,000 in 2022. This is close to an 8 times increase over the period. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $50,545,000 or 43.9% (from $115,245,000 to $165,590,000). The smallest year-over-year increase was just 11.2%, from $88,352,000 in 2019 to $98,264,000 in 2020. 

For direct premiums earned, the biggest jump was from 2021 to 2022, increasing by $78,442,000 or 56.5% (from $138,889,000 to $217,331,000). The smallest increase was from 2018 to 2019 at just 3.4% (from $80,904,000 to $83,686,000).

Loss Ratios for Private Flood

The loss ratio data for Private Flood insurance in Florida presents several remarkable fluctuations and trends across the given years. A significant spike in the loss ratio occurs in 2017, reaching 94.38%, which stands out compared to the relatively low 2.33% in 2016.

Subsequently, there is an unreported value for 2018, followed by a considerable decrease in the loss ratio to 3.49% in 2019. The loss ratio experiences another shift in 2020, rising to 20.62%, but remains lower than the 2017 peak.

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 Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $22,820,000 in 2016. 

The highest was $26,255,000 in 2022. Direct premiums written increased overall from 2015 to 2022, with the exception of decreases in 2016 and 2020. The direct premiums earned followed a similar pattern. The lowest amount was $22,948,000 in 2016 and the highest was $24,998,000 in 2022. 

Direct premiums earned also increased overall between 2015 and 2022, except for decreases in 2017 and 2020. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $3,669,000 or 15.6% (from $23,586,000 to $26,255,000). 

The smallest year-over-year increase was just 0.7% from $23,568,000 in 2017 to $23,728,000 in 2018. 

Loss Ratios for Farmowners Multiple Peril

The loss ratio data for Farmowners Multiple Peril in Florida reveals considerable fluctuations over the years. The loss ratios vary greatly, from a low of 17.18% in 2021 to a high of 71.32% in 2017. The sharp increase in 2017 is an outlier and is followed by a decrease to 53.8% in 2018.

The years following 2018 show a downward trend in loss ratios, reaching a record low in 2021. However, 2022 presents a significant rebound, with the loss ratio climbing back to 52.19%. This pattern of a steep increase followed by a gradual decrease and then another rise suggests cyclical trends in the loss ratio for Farmowners Multiple Peril in Florida.

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 Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $877,220,600 in 2015. 

This increased each year, reaching $1,244,528,600 in 2021 and $1,444,851,000 in 2022. This represents an overall increase of 64.8% from 2015 to 2022. Similarly, direct premiums earned grew from $873,231,300 in 2015 to $1,298,369,000 in 2022, a 48.8% increase. 

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $1,296,482,000 or 11.7% (from $11,108,804,000 to $12,405,286,000). The smallest increase was 6.4% between 2015 and 2016. 

For direct premiums earned, the biggest jump was 15.8% between 2021 and 2022, from $1,144,621,200 to $1,298,369,000. The smallest increase was 1.8% from 2016 to 2017.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in Florida presents interesting patterns and fluctuations over the years. The loss ratios show considerable variation, beginning with a relatively low 29.34% in 2015, increasing to 39.31% in 2016, and then experiencing a significant jump to 93.02% in 2017. This upward trend continues in 2018, with the highest loss ratio of 103.29% observed during this period.

However, the loss ratios begin to decline in 2019, dropping to 76.9%, and further decreasing to 70.36% in 2020. This downward trend is briefly interrupted in 2021, with a loss ratio of 56.44%. The year 2022 stands out with an exceptionally high loss ratio of 125.47%, surpassing all previous data points.

Direct and Earned Premiums for Commercial Multiple Peril

The data shows that direct premiums written for commercial multiple peril insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,943,358,000 in 2018. 

The highest amount was $2,947,726,000 in 2022. The direct premiums written decreased from $2,221,245,000 in 2015 to $1,943,358,000 in 2018, representing a 12.5% decrease over that period. However, direct premiums written then increased each year from 2018 to 2022. The largest year-over-year increase was from 2021 to 2022.

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount of $1,919,825,000 in 2018 and the highest amount of $2,700,999,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022. 

Loss Ratios for Commercial Multiple Peril

Examining the loss ratio data for Commercial Multiple Peril in Florida unveils interesting variations over the years. The loss ratios fluctuate significantly, with the lowest of 22.3% in 2015 and the highest of 93.47% in 2022. A sharp rise is observed from 2016 to 2017, with an increase from 31.2% to an alarming 89.52%. This continues in 2018 with a similar loss ratio of 87.6%.

A gradual decline follows over the next three years, with loss ratios falling from 70.42% in 2019 to 42.8% in 2021. However, this trend is disrupted in 2022 with a steep rise to 93.47%. 

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Florida increased steadily from 2015 to 2021, with a slight decrease in 2022. The lowest amount of direct premiums written was $253,800,000 in 2015. 

This grew to a high of $450,305,000 in 2021, representing an increase of over 77% over the 7 year period. Direct premiums earned followed a similar trajectory, starting at $237,574,000 in 2015 and reaching $460,592,000 in 2021, an increase of nearly 94%. 

Both direct premiums written and direct premiums earned increased each year from 2015 to 2021. The largest year-over-year increase for direct premiums written was from 2016 to 2017, when it grew by $35,488,000 or 12.5% (from $284,405,000 to $319,893,000). 

The smallest year-over-year increase was just 2.6%, from $429,944,000 in 2020 to $450,305,000 in 2021. 

For direct premiums earned, the largest increase was also from 2016 to 2017, growing by $43,111,000 or 16.0% (from $269,245,000 to $312,556,000). In 2022, direct premiums written and direct premiums earned both declined slightly, by 0.7% and 0.9% respectively. But the 2022 figures still represent significant growth compared to 2015 levels.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Florida displays significant variations over the analyzed years. In 2015, the loss ratio stood at 52.49%, which then dropped considerably to 27.07% in 2016 and further to 25.58% in 2017, indicating a downward trend. There was no data available for 2018, but the loss ratio witnessed a drastic reduction to 6.74% in 2019.

In contrast, 2020 saw a steep increase in the loss ratio to 55.6%, possibly due to adverse economic conditions or a sudden influx of claims. Interestingly, the loss ratio plummeted once more in 2021 to a mere 4.31%.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Florida increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $313,912,000 in 2015. 

This steadily increased each year, with the highest amount being $620,943,000 in 2022 - nearly double the 2015 figure. Direct premiums earned followed a similar trajectory, growing from $312,122,000 in 2015 to $570,719,000 in 2022. This represents an increase of over 80% in earned premiums over the 8 year period. 

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $113,335,000 or 22.3% (from $507,408,000 to $620,943,000). The smallest increase was just 2.9% between 2016 and 2017. 

For direct premiums earned, the biggest jump was also from 2021 to 2022, increasing by $87,186,000 or 17.9%. The smallest increase was 1.0% from 2015 to 2016. 

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data for Florida highlights some notable trends and fluctuations. In particular, the loss ratios display significant variability, with the lowest noted at 36.8% in 2021 and the highest reaching 90.03% in 2017. 

The years 2019 and 2020 showed relatively consistent loss ratios of 54.49% and 52.93%, respectively. However, there was a considerable increase to 72.31% in 2022. The general trend indicates a decrease from 2017 to 2021, followed by a significant upsurge in 2022.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $121,005,000 in 2015. The highest amount was $221,506,500 in 2022. This represents an increase of over 83% 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 $33,705,500 or 21% (from $160,744,000 to $194,734,500). The smallest year-over-year increase was 6.8%, from $163,327,000 in 2019 to $174,344,000 in 2020. The direct premiums earned followed a similar trend, with the lowest amount being $117,391,800 in 2015 and the highest being $208,588,700 in 2022. This was an increase of over 78% over the period. 

The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 16.3% (from $179,319,500 to $208,588,700). The smallest increase was 6.1% between 2015 and 2016. 

Loss Ratios for Commercial Inland Marine

The loss ratio data for Inland Marine insurance in Florida from 2015 to 2022 shows intriguing fluctuations. In 2015, the loss ratio was 46.76%, which fell slightly to 39.8% in 2016. However, in 2017, the loss ratio surged to 60.54% before subsiding to 51.7% and 49.83% in 2018 and 2019, respectively. 

The year 2020 witnessed a substantial increase in the loss ratio to 67.73%, the second-highest in the observed period. This was followed by a significant drop to 44.63% in 2021. Interestingly, the highest loss ratio recorded was in 2022, at 68.36%. 

The data exhibits substantial variability, with the loss ratio percentage ranging from a low of 39.8% in 2016 to a high of 68.36% in 2022. The years 2020 and 2022 stand out for their unusually high loss ratios, while 2016 represents the lowest recorded loss ratio. The overall trend, meanwhile, does not show a clear pattern of increase or decrease.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Florida fluctuated between 2015 and 2022. The highest amount of direct premiums written was $14,341,000 in 2020. The lowest was $4,175,000 in 2018. For direct premiums earned, the highest amount was $93,793,000 in 2015 and the lowest was $10,275,000 in 2022. Overall, direct premiums written decreased from $7,099,000 in 2015 to $7,234,000 in 2022, representing a drop of about 2%. 

Direct premiums earned showed a more significant downward trend, falling from $93,793,000 in 2015 to just $10,275,000 in 2022, a massive 89% decrease over the period. The most significant year-over-year changes were from 2017 to 2018, when direct premiums written fell by 50% (from $8,391,000 to $4,175,000) and direct premiums earned dropped by 59% (from $64,003,000 to $26,023,000).

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio in Florida presents some interesting trends from 2015 to 2022. The data demonstrates considerable variability, with the loss ratio reaching a high of 13.11% in 2017 and a low of 0.88% in 2019.

Notably, there was a sharp decrease from 13.11% in 2017 to 5.41% in 2018. However, the loss ratio dipped further to 0.88% in 2019. In 2020, the loss ratio bounced back to 12.83%, almost mirroring the 2017 level.

Direct and Earned Premiums for Medical Professional Liability

The data shows that direct premiums written and earned for medical professional liability insurance in Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $572,191,000 in 2015. This increased each year, with the highest amount being $915,063,000 in 2022. This represents an increase of over 60% in direct premiums written over the 8 year period. 

Similarly, direct premiums earned also increased each year from $567,888,000 in 2015 to $879,598,000 in 2022. This is a 55% increase over the period. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $100,643,000 or 15.5% (from $647,865,000 to $748,508,000). 

The smallest increase was 1.1% from 2017 to 2018, increasing from $594,878,000 to $603,909,000. For direct premiums earned, the biggest jump was also from 2019 to 2020, increasing by $80,607,000 or 12.8% (from $630,400,000 to $711,007,000). The smallest increase was 0.9% from 2016 to 2017 (from $588,241,000 to $584,598,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Florida demonstrates notable fluctuations between 2015 and 2022. The loss ratios initially increased from 47.59% in 2015 to a peak of 73.68% in 2019, indicating a period of growing claim costs relative to premiums earned. This upward trend was most pronounced between 2016 and 2017, with a 11.44-percentage point increase.

In contrast, 2020 saw a significant decrease in the loss ratio to 54.58%. However, this improvement was short-lived as the loss ratio climbed again to 61.91% in 2021.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $20,112,000 in 2017. The highest was $46,594,000 in 2022. This represents an increase of over 130% from the low in 2017 to the high in 2022.

Direct premiums written decreased from $23,490,000 in 2015 to $20,112,000 in 2017, before increasing again to $46,594,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $13,205,000 or 39.5% (from $33,389,000 to $46,594,000). 

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount of $20,339,000 in 2017 and the highest of $42,817,000 in 2022. This was an increase of over 110% from 2017 to 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $11,668,000 or 37.5% (from $31,149,000 to $42,817,000). 

Loss Ratios for Earthquake

The earthquake loss ratio data for Florida from 2015 to 2022 reveals an interesting pattern. In 2015, the loss ratio stood at 7.3%, and it dramatically dropped to 0.59% in 2016, marking the lowest point in the period. This was followed by a significant spike to 18.76% in 2017, the highest for the period, before declining again to 7.27% and 7.43% in 2018 and 2019, respectively. 

In 2020, the loss ratio dipped to a low of 2.56%. The loss ratio then saw a mild increase in 2021 to 4.31%, and a more significant rise in 2022 to 14.43%.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2625440000 in 2015. The highest amount was $3248415000 in 2022. This represents an increase of over 23% from 2015 to 2022. 

Direct premiums written increased each year from 2015 to 2017, with the largest increase of $35,500,000 or 13.5% occurring from 2016 to 2017 (from $2769021000 to $3183303000). Premiums then decreased by $1,429,000 or 0.4% from 2017 to 2018 before increasing again in 2019. The largest year-over-year decrease came between 2019 and 2020, when direct premiums written fell by $8,838,000 or 2.8% (from $3115238000 to $2831345000). 

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the highest amount of $3194014000 occurring in 2018 and the lowest amount of $2580110000 recorded in 2015. The largest yearly increase for direct premiums earned was from 2016 to 2017, rising by $29,453,000 or 10.9% (from $2715828000 to $3013282000). 

Loss Ratios for Workers Compensation

Wokers Compensation data for Florida is unavailable at this time.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $209,081,000 in 2015. The highest amount was $327,171,000 in 2022. This represents an increase of over 56% 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 $48,517,000 or 17.4% (from $278,654,000 to $327,171,000). The smallest year-over-year increase was 1.8%, from $219,350,000 in 2018 to $219,191,000 in 2017. 

Similarly, direct premiums earned also increased steadily from $201,328,000 in 2015 to $304,594,000 in 2022. The largest year-over-year increase was also from 2021 to 2022, when direct premiums earned grew by $39,025,000 or 14.7% (from $265,569,000 to $304,594,000). The smallest increase was 0.9%, from $217,491,000 in 2017 to $212,130,000 in 2016. 

Loss Ratios for Product Liability

The loss ratio data for Products Liability in Florida demonstrates notable fluctuations over the observed years. In 2015, the loss ratio stood at 53.07%, which subsequently increased to 74.0% in 2016 and peaked at 82.95% in 2017.

However, in 2018, there was a marked decrease in the loss ratio to 63.2%. Despite this, the loss ratio climbed again to 71.97% in 2019 and 76.34% in 2020, suggesting a return to higher claims levels. Interestingly, there was a significant drop in the loss ratio to 47.01% in 2021. Nevertheless, the loss ratio increased again in 2022 to 70.75%, showing continued variability in the Florida Products Liability sector.

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 Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $15,773,267,000 in 2015. The highest amount was $25,359,878,000 in 2022. This represents an increase of over 60% 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 $27,604,581,000 or 12.2% (from $22,594,297,000 to $25,359,878,000). The smallest year-over-year increase was 6.3%, from $19,143,912,000 in 2017 to $20,451,526,000 in 2018. 

The trends for direct premiums earned are similar. The lowest amount was $15,324,678,000 in 2015 and the highest was $24,400,793,000 in 2022, an increase of 59.2% over the period. As with direct premiums written, direct premiums earned increased each year. The largest year-over-year increase was 11.1% from 2021 to 2022 (from $21,959,767,000 to $24,400,793,000) and the smallest was 6.8% from 2016 to 2017.

Loss Ratios for Private Passenger Auto

The loss ratio for Private Passenger Auto Total in Florida displayed notable shifts over the given years. In the early years, 2015-2017, the loss ratios remained relatively steady, with percentages of 70.84%, 71.44%, and 71.29% respectively. However, a downward trend was observed in 2018 and 2020, with loss ratios decreasing to 66.78% and 64.14%. 

In contrast, the loss ratio surged dramatically in the recent years, 2021 and 2022, jumping to 74.61% and a significant 89.67%. Despite these fluctuations, the overall trend indicates a gradual increase in the loss ratios over the examined period.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $2,073,621,000 in 2015. This increased each year, with the highest amount being $4,993,937,000 in 2022. This represents an increase of over 140% over the 8 year period. 

The direct premiums earned follow a similar trend, starting at $1,968,211,000 in 2015 and increasing to $4,725,654,000 in 2022. This is a 140% increase over the period. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $9,987,752,000 or 30.6% (from $32,638,830,000 to $35,626,350,000). The smallest increase was 6.4% from 2020 to 2021. 

For direct premiums earned, the biggest jump was also from 2018 to 2019 at 29.8% (from $30,622,850,000 to $34,597,920,000). The smallest increase was 5.1% from 2020 to 2021.

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in Florida offer insightful perspectives over the years. The loss ratios demonstrate considerable variability, from a low of 74.56% in 2015 to a peak of 83.1% in 2022. A noticeable spike occurred in 2020 at 80.1%, marking a significant increase compared to the previous year's 78.33%. 

The years 2017 and 2019 showed a similar trend with relatively close loss ratios of 78.53% and 78.33%, respectively. TDespite a slight dip to 75.6% in 2018, the trend shows an overall increase from 2015 to 2022. In recent years, 2021 exhibited a drop to 77.09% from 80.1% in 2020. However, 2022 reflects the highest loss ratio over the studied period at 83.1%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Florida increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $98,909,000 in 2015. The highest amount was $230,097,000 in 2022. This represents an increase of over 130% over the 8 year period. The direct premiums written and direct premiums earned 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 $41,285,000 or 20.8% (from $198,812,000 to $230,097,000). The smallest year-over-year increase was 6.9%, from $106,227,000 in 2017 to $114,101,000 in 2018. 

For direct premiums earned, the largest year-over-year increase was also from 2021 to 2022, when it grew by $33,573,000 or 18.1% (from $185,553,000 to $219,126,000). The smallest increase was 0.5% from 2016 to 2017 (from $101,922,000 to $101,879,000).

Loss Ratios for Aircraft

The Aircraft loss ratio data for Florida over the years shows interesting patterns. In 2015, the loss ratio stood at 61.33%, which dramatically increased to 101.0% in 2016. The subsequent decrease to 82.63% in 2017, and further to 73.92% in 2018.

However, 2019 saw an increase to 91.95%, nearly touching the 2016 peak, before a significant drop to 41.27% in 2020. In 2021 and 2022, the loss ratios were 44.41% and 71.93% respectively. 

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and earned for fidelity insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $62,059,000 in 2018, while the highest was $76,040,000 in 2022. This represents an increase of 22.5% from the low in 2018 to the high in 2022. 

Direct premiums written increased each year from 2018 to 2022, with the exception of a dip in 2020. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $6,978,000 or 10.1% (from $69,062,000 to $76,040,000). 

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount of $62,080,000 occurring in 2018 and the highest amount of $72,948,000 in 2022. This was an increase of 17.5% over the period. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $5,698,000 or 8.5% (from $67,250,000 to $72,948,000).

Loss Ratios for Fidelity

There a lack of data on loss ratios for Fidelity for Florida.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in Florida fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $355,920,000 in 2015. This increased to $436,752,000 in 2019, before dropping slightly to $421,409,000 in 2020. The highest amount of direct premiums written was $560,481,000 in 2022, representing an increase of over 57% from 2015. 

Direct premiums earned followed a similar pattern, with the lowest amount being $339,494,000 in 2015 and the highest being $502,936,000 in 2022. This was a 48% increase over the period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $82,533,000 or 18.4% (from $447,948,000 to $560,481,000). The smallest year-over-year increase was just 1.3%, from $421,409,000 in 2020 to $427,313,000 in 2021.

Loss Ratios for Surety

The Surety loss ratio data in Florida presents interesting shifts over the years. From 2015 to 2016, there was a significant increase in loss ratios, from 21.97% to 32.04%, indicating a potential rise in claim payouts or decrease in premium income. The following year, 2017, saw a sharp decrease to 15.75%. 

In 2018 and 2019, the ratios increased to 33.05% and 35.65% respectively. A notable spike occurred in 2020, with loss ratios soaring to 57.99%, the highest in the observed period. The trend reverses in 2021 and 2022, with loss ratios dropping to 22.41% and 24.61%, respectively. 

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Florida increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $444,037,000 in 2015. This increased each year, with the highest amount being $865,505,000 in 2021. This represents an increase of over 95% from 2015 to 2021. 

Similarly, direct premiums earned started at $308,917,000 in 2015 and increased to $575,636,000 by 2021. This was an increase of over 86% in the premiums earned. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $90,556,000 or 13.4% (from $675,638,000 to $762,082,000). The smallest year-over-year increase was 2.8%, from $566,899,000 in 2018 to $583,682,000 in 2019. In 2022, direct premiums written decreased slightly to $844,476,000, but direct premiums earned continued increasing, reaching $638,045,000. This represents a 10.9% increase in premiums earned from 2021 to 2022.

Loss Ratios for Warranty

The warranty loss ratio data in Florida from 2015-2022 shows varied trends. It starts at 56.52% in 2015, experiences a dip to 48.37% in 2016, and then gradually climbs up to 53.63% by 2018. A notable increase is observed in 2019, reaching 59.58%. 

The ratio slightly decreases to 56.25% in 2020, but then rises again in the subsequent years. By 2021, it reaches 58.02% and jumps significantly to 65.78% in 2022. This continual rise in the loss ratio post-2020. 

The peak in 2022 warrants scrutiny as it may indicate a significant shift in risk factors or claim patterns. The overall trend, however, indicates a general upward movement, especially in the last three years.