Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $29,603,000 in 2017. The highest amount was $59,094,000 in 2022. This represents an increase of over 99% over the 8 year period.

Direct premiums written increased each year from 2017 to 2022, with the exception of a slight decrease from $30,938,000 in 2018 to $29,603,000 in 2019. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $13,002,000 or 28.9% (from $45,092,000 to $59,094,000). Direct premiums earned followed a similar pattern to direct premiums written over the period, with the lowest amount being $29,581,000 in 2015 and the highest being $53,060,000 in 2022.

This was an increase of 79.4% over the period. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $8,694,000 or 19.6% (from $44,366,000 to $53,060,000).

Loss Ratios for Fire

The loss ratio data for Fire insurance in Montana exhibits notable fluctuations and trends over the years. Between 2015 and 2016, the loss ratio decreased from 55.67% to 41.51%, followed by an increase to 51.26% in 2017 and a similar value of 51.48% in 2018. However, a significant spike occurred in 2019, with the loss ratio reaching 90.49%, which stands out as an outlier in the data..

In contrast, the subsequent year, 2020, saw a substantial improvement in the loss ratio, dropping to 45.78%. Most recently, the loss ratios in 2021 and 2022 indicate a continuing downward trend, with values of 26.45% and 35.83%, respectively.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in Montana increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $30,578,000 in 2015. This increased each year, with the highest amount being $59,725,000 in 2022 - nearly double the 2015 amount.

Direct premiums earned followed a similar trend, starting at $28,993,000 in 2015 and reaching $56,032,000 in 2022. This represents an increase of 93.4% over the 8 year period. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $5,187,000 or 12.4% (from $41,959,000 to $47,146,000). The smallest increase was 1.2% from 2016 to 2017 ($30,483,000 to $30,961,000).

For direct premiums earned, the biggest jump was also from 2019 to 2020, increasing by $5,575,000 or 14.5% (from $38,370,000 to $43,945,000). The smallest increase was again from 2016 to 2017 at 1.6% (from $29,893,000 to $30,359,000).

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Montana over the years illustrates intriguing patterns. In 2015, the loss ratio was 64.42%, which jumped drastically to 110.47% in 2016. This was followed by a sharp decline to 61.54% in 2017, and a slight increase to 63.17% in 2018.

The year 2019 stands out with an unprecedented surge to 293.99%, making it a significant outlier in the data set. Following the spike, there was a substantial drop to 46.18% in 2020 and further to 36.67% in 2021. However, the year 2022 saw an increase to 68.7%.

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 Montana fluctuated between 2015 and 2022, but overall showed an increasing trend. The lowest amount of direct premiums written was $143,431,000 in 2015. This steadily increased each year until 2019, when it dropped to $151,040,000.

The direct premiums written then increased again in 2020 ($160,447,000) and saw a large jump in 2021 to $235,955,000. The highest direct premiums written was in 2022 at $345,575,000, which was over 2 times the amount in 2015. Similarly, the lowest direct premiums earned was $132,223,000 in 2015. This increased each year until 2018 when it reached $181,620,000. In 2019 it dropped slightly to $157,788,000 before increasing again in 2020 ($159,483,000) and 2021 ($209,043,000). The highest direct premiums earned was $333,805,000 in 2022, more than 2.5 times the 2015 amount.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $109,620,000 or 46.4% (from $235,955,000 to $345,575,000). The smallest year-over-year increase was just 2.7% from 2015 to 2016 (from $143,431,000 to $139,595,000).

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio in Montana presents notable fluctuations from 2015 to 2022. The loss ratio in 2015 was high at 93.76%, but significantly dropped to 39.86% in 2016. A dramatic surge occurred in 2017, with the ratio reaching a peak of 155.62%. This peak was followed by a decrease to 62.17% in 2018, which then slightly rose to 71.98% in 2019, and marginally dropped to 62.67% in 2020.

However, a steep increase was witnessed in 2021 with the loss ratio skyrocketing to 221.2%, the highest in the observed period. This was followed by a decrease to 152.65% in 2022, albeit still significantly higher than most previous years.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2,383,000 in 2022, while the highest was $2,840,000 in 2019.

Direct premiums written increased from 2015 to 2019, going from $2,834,000 to $2,840,000. However, there was a decrease from 2019 to 2022, with direct premiums written falling to $2,383,000 in 2022. Similarly, direct premiums earned were lowest in 2016 at $2,627,000 and highest in 2019 at $2,792,000. Direct premiums earned followed a similar pattern to direct premiums written, increasing from 2015 to 2019, before decreasing from 2020 to 2022.

The largest year-over-year increase in direct premiums written was from 2017 to 2018, when it grew by $292,000 or 11.4% (from $2,559,000 to $2,781,000). The largest decline was from 2021 to 2022, when direct premiums written fell by $450,000 or 15.9% (from $2,833,000 to $2,383,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for Montana displays remarkable fluctuation. The loss ratio experienced a substantial increase from a mere 1.1% in 2015 to 38.6% in 2018. However, the data for 2019, 2020, and 2021 is not available, leading to an information gap. In 2022, a notable spike is observed as the loss ratio skyrockets to 189.09%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $739,000 in 2019. The highest was $9,817,000 in 2016.

For direct premiums earned, the lowest was $718,000 in 2019 and the highest was $9,573,000 in 2016. Looking at the year-over-year changes, there was a large increase in direct premiums written from 2015 ($4,897,000) to 2016 ($9,817,000), representing a 100% increase. However, this was followed by a steep 63% decrease from 2016 to 2017 ($3,644,000). The direct premiums earned followed a similar pattern, with a 95% increase from 2015 to 2016, followed by a 70% decrease from 2016 to 2017. After the decreases in 2017, direct premiums written and earned increased again in 2018 before dropping to their lowest points in 2019.

From 2019 to 2022, direct premiums written and earned increased each year, but remained below the 2016 peak. The largest year-over-year increase in direct premiums written was 18% from 2020 ($876,000) to 2021 ($959,000). For direct premiums earned, the largest increase was 7% from 2021 ($977,000) to 2022 ($1,020,000).

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Montana exhibits remarkable fluctuations over the observed years. The ratios demonstrate significant variability, from a low of 12.56% in 2017 to a towering 220.23% in 2020.

The dramatic increase in 2020 is an outlier, necessitating further analysis to understand the underlying factors. The years 2015 and 2016 saw high loss ratios of 132.06% and 171.15% respectively, followed by a drastic drop to 12.56% in 2017.

However, this was followed by a steady increase over the next three years, peaking in 2020. Interestingly, 2021 saw a significant decrease to 41.78%. Yet, the loss ratio surged again to 172.08% in 2022, suggesting potential volatility in this line of business.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Montana fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $546,000 in 2016.

This increased to $965,000 in 2017, $1,108,000 in 2018, before dropping to $829,000 in 2019. It then increased again to $1,105,000 in 2020 and $1,381,000 in 2021. The highest amount was $3,208,000 in 2022, representing an almost 6-fold increase from 2016.

Direct premiums earned followed a similar pattern, starting at $363,000 in 2016, peaking at $2,366,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $1,827,000 or 132%. The smallest year-over-year increase was just 3.9%, from $829,000 in 2019 to $863,000 in 2020.

Loss Ratios for Private Flood

The loss ratio data for Private Flood insurance in Montana exhibits distinct patterns over the years. In 2016, the loss ratio was at its lowest, at 0.49%, but it sharply rose to 3.57% in 2017. It then dropped to 1.31% in 2018, only to increase again to 4.21% in 2019. The most significant increase was observed in 2020, where the loss ratio jumped to 7.11%.

However, in 2021, the loss ratio receded slightly to 5.25%. In 2022, the loss ratio soared to its highest at 18.09%, almost tripling from the previous year. Despite the year-to-year fluctuations, the overall trend from 2016 to 2022 shows a general increase in the loss ratio for Private Flood insurance in Montana.

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 Montana increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $65,832,000 in 2015.

This increased each year, with the highest amount being $104,613,000 in 2022. This represents an increase of 59% over the 8 year period. The direct premiums earned followed a similar trend, growing from $65,996,000 in 2015 to $98,780,000 in 2022, an increase of 50%.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $11,674,000 or 12.6% (from $92,939,000 to $104,613,000). The smallest year-over-year increase was from 2016 to 2017, when direct premiums written grew by $4,974,000 or 7.3% (from $68,176,000 to $73,150,000).

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, hinting at possible changes in underwriting practices or risk environment.

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, indicating potential shifts in the claims landscape or underwriting strategies over time.

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 Montana increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $300,539,000 in 2015. The highest amount was $527,491,000 in 2022. This represents an increase of over 75% 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 $67,814,000 or 14.8% (from $459,077,000 to $527,491,000). The smallest year-over-year increase was 6.4%, from $313,983,000 in 2016 to $333,134,000 in 2017.

The trends were similar for direct premiums earned, with the lowest amount being $287,668,000 in 2015 and the highest being $490,231,000 in 2022. This was an increase of over 70% over the period. The largest year-over-year increase was 15.5% from 2021 to 2022 (from $431,312,000 to $490,231,000) and the smallest was 4.8% from 2016 to 2017.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in Montana reveals marked fluctuations over the specified years. The data shows a rollercoaster trend, with a significant peak of 106.53% in 2016, followed by a drop to 43.06% in 2017. Another noteworthy spike is observed in 2019, when the loss ratio shot up to a record 139.9%, the highest in the given period.

The years 2020 and 2021, however, show a downward trend with loss ratios of 64.25% and 53.06% respectively. The year 2022, however, saw an increase to 82.66%, suggesting a reversal of this trend.

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 Montana increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $174,613,000 in 2015. This increased each year, reaching a high of $265,933,000 in 2022.

This represents an overall increase of 52% over the 8 year period. Similarly, direct premiums earned started at $170,709,000 in 2015 and reached $253,083,000 in 2022, an increase of 48%. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $27,759,000 or 11.6% (from $238,174,000 to $265,933,000). The smallest increase was 1.2% from 2016 to 2017 ($175,481,000 to $179,871,000).

For direct premiums earned, the biggest jump was also from 2021 to 2022, increasing by $29,040,000 or 12.9% (from $224,043,000 to $253,083,000). The smallest increase was 0.3% from 2015 to 2016 ($170,709,000 to $175,334,000).

Loss Ratios for Commercial Multiple Peril

The loss ratio data for Commercial Multiple Peril in Montana exhibits notable variations and trends across the years. The loss ratios fluctuate considerably, with the lowest percentage recorded in 2015 at 44.21% and the highest in 2019 at an alarming 100.78%. This dramatic spike in 2019 may warrant further examination to identify potential factors driving such an increase.

Following the peak in 2019, the loss ratio significantly improved in 2020, dropping to 52.05%. The data for 2021 and 2022 display a relatively stable trend, with loss ratios of 42.99% and 63.98%, respectively.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $15,041,000 in 2015.

This increased to a high of $18,469,000 in 2020 before dropping to $15,980,000 in 2022. Direct premiums earned followed a similar pattern, starting at $14,324,000 in 2015, reaching a peak of $19,565,000 in 2020, and declining to $16,710,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2015 to 2016, when it grew by $3,797,000 or 25.2% (from $15,041,000 to $15,838,000). The largest year-over-year increase in direct premiums earned was from 2016 to 2017, when it grew by $3,639,000 or 23.8% (from $15,283,000 to $16,922,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Montana demonstrates interesting patterns and shifts over the observed years. Between 2015 and 2018, the loss ratios remain relatively stable, fluctuating between 2.61% and 4.89%.

However, in 2019, the loss ratio sees an increase to 4.55%, almost reaching the level observed in 2016. The most striking change occurs in 2020, with the loss ratio skyrocketing to 22.82%. Unfortunately, the data for 2021 and 2022 is unavailable, limiting our ability to analyze recent trends.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2,443,000 in 2017, while the highest was $5,572,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the exception of a dip from $4,065,000 in 2019 to $4,133,000 in 2020. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $1,566,000 or 31.3% (from $5,006,000 to $5,572,000). Similarly, direct premiums earned were lowest at $2,578,000 in 2017 and highest at $5,270,000 in 2022.

Direct premiums earned followed a similar pattern to direct premiums written, with steady increases each year from 2017 to 2022, except for a small decline from $4,088,000 in 2020 to $4,754,000 in 2021. The biggest year-over-year jump in direct premiums earned was also from 2021 to 2022, increasing by $516,000 or 10.9% (from $4,754,000 to $5,270,000).

Loss Ratios for Ocean Marine

The Ocean Marine line of business in Montana has shown significant fluctuations in loss ratios over the years. In 2015, the loss ratio was relatively low at 31.88%, and it saw a slight increase to 37.16% in 2016. The loss ratio maintained stability in 2017 at 35.0%.

However, a pronounced increase occurred in 2018 with a loss ratio of 67.67%, which further escalated to a peak of 79.65% in 2019. This trend of high loss ratios continued into 2020 and 2021, recording 67.21% and 67.36% respectively. The year 2022, however, marked a drastic change, with the loss ratio plummeting to 7.92%.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written for inland marine insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $62,392,000 in 2016. The highest amount was $125,932,000 in 2022.

The direct premiums written decreased from $96,631,000 in 2015 to $62,392,000 in 2016, representing a 35% decrease. After this initial drop, direct premiums written increased each year from 2017 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $20,418,000 or 19.4% (from $105,514,000 to $125,932,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount of $61,535,000 occurring in 2016 and the highest amount of $118,266,000 occurring in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $21,256,000 or 22.1% (from $97,010,000 to $118,266,000).

Loss Ratios for Inland Marine

The loss ratio data for Inland Marine insurance in Montana is unavailable.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and earned for financial guaranty insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $7,000 in 2019. The highest was $364,000 in 2021.

For direct premiums earned, the lowest was $47,000 in 2019 and the highest was $1,204,000 in 2015. Looking at direct premiums written, there was a steep decline from $41,000 in 2015 down to $0 in 2016. Written premiums then increased to $62,000 in 2017 before dropping again to $0 in 2018. There was an increase to $7,000 in 2019, followed by a jump up to $249,000 in 2020. 2021 saw another increase to $364,000, the peak over this time period. 2022 came back down to $219,000.

For direct premiums earned, 2015 saw the highest amount at $1,204,000. This dropped sharply to $576,000 in 2016. There was another decrease to $278,000 in 2017. The lowest points were in 2018 ($119,000) and 2019 ($47,000). Premiums earned increased slightly to $51,000 in 2020 and $82,000 in 2021 before ending at $64,000 in 2022.

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio in Montana is unavailable.

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 Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $35,640,000 in 2019. The highest was $47,973,000 in 2017.

Direct premiums written decreased from $41,208,000 in 2015 to $37,378,000 in 2016, before increasing to the peak of $47,973,000 in 2017. After 2017, direct premiums written declined for two consecutive years, hitting the low of $35,640,000 in 2019. Since 2019, direct premiums written have increased each year, reaching $40,887,000 in 2022.

Similarly, direct premiums earned followed a fluctuating trend between 2015 and 2022. The lowest direct premiums earned was $37,556,000 in 2020, while the highest was $43,679,000 in 2018. From 2015 to 2016, direct premiums earned decreased slightly from $40,078,000 to $39,982,000. It then increased to a peak of $43,679,000 in 2018, before declining for two straight years to $37,556,000 in 2020. After 2020, direct premiums earned rose again, reaching $40,962,000 in 2022.

Loss Ratios for Medical Professional Liability

The loss ratio data for Medical Professional Liability in Montana from 2015 to 2022 showcases interesting variations. Loss ratios fluctuated significantly, with a noticeable peak of 89.72% in 2017, which might be considered an outlier requiring further investigation. This high point was followed by a drop to 59.37% in 2018 and a steady increase to 67.51% in 2020.

However, the years 2021 and 2022 witnessed a notable decrease in loss ratios, falling to 47.58% and 35.07%, respectively. Despite the substantial variability, the overall trend from 2018 to 2022 suggests a decrease in the loss ratio for Medical Professional Liability in Montana.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Montana increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $4,692,000 in 2015. The highest amount was $9,447,000 in 2022. This represents an increase of over 100% 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 $1,272,000 or 14.6% (from $8,687,000 to $8,959,000). The smallest year-over-year increase was 1.3%, from $4,651,000 in 2016 to $4,989,000 in 2017. The direct premiums earned followed a similar upward trend over the period, lagging slightly behind the direct premiums written. The lowest direct premiums earned was $4,468,000 in 2015. The highest was $9,439,000 in 2022.

This represents a 111% increase. The largest year-over-year increase in direct premiums earned was from 2019 to 2020, when it grew by $1,202,000 or 18.9% (from $6,366,000 to $7,568,000). The smallest increase was 0.9%, from $4,616,000 in 2016 to $4,669,000 in 2017.

Loss Ratios for Earthquake

The Earthquake loss ratio data for Montana exhibits significant variation over the years. In 2016, the loss ratio was minimal at 0.06%. However, an abrupt rise was witnessed in 2017, with the loss ratio hitting a notable 52.55%.

This was followed by a sharp decrease to 6.84% in 2018 and further reduction to 1.94% in 2019. Lack of data for 2015, 2020, 2021, and 2022 presents a gap, rendering it challenging to discern any clear trends for those years.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $262,702,000 in 2020. The highest amount was $287,703,000 in 2022. Direct premiums written decreased from 2015 to 2020, dropping from $287,297,000 in 2015 to the low in 2020. This represents a decrease of 8.5% over that 5 year period.

Direct premiums written then increased from 2020 to 2022, growing by 9.5% from the 2020 low to $287,703,000 in 2022. The pattern for direct premiums earned is similar. The lowest amount was $256,678,000 in 2020 and the highest was $284,001,000 in 2022. Direct premiums earned decreased from 2015 to 2020, dropping from $283,643,000 in 2015 to the low in 2020, a 9.4% decrease. It then increased from 2020 to 2022, growing by 10.7% from the 2020 low to $284,001,000 in 2022.

The largest year-over-year decrease for direct premiums written was from 2018 to 2019, when it declined by $5,486,000 or 2.0% (from $274,817,000 to $269,331,000). The largest increase was from 2020 to 2021, when direct premiums written grew by $5,068,000 or 1.9% (from $262,702,000 to $267,895,000).

Loss Ratios for Workers Compensation

The loss ratio data for Workers Compensation in Montana shows modest fluctuations over the years. The loss ratios span from a modest low of 53.06% in 2021 to a relatively higher percentage of 58.76% in 2016. Interestingly, the year 2016 marked the peak of loss ratios for the period under review. Post-2016, there was a gradual decrease in the loss ratio, reaching its lowest in 2021.

However, the data from 2022 indicates a slight uptick to 55.99%, hinting at a potential reversal of the downward trend observed in the preceding years. The years 2015 and 2020 showed very similar loss ratios of 55.5% and 55.93%, respectively. The data from 2017 and 2019 also indicate minimal changes, with loss ratios documented as 56.51% and 56.42%, respectively.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Montana fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $10,357,000 in 2017. This was a decrease of 2.4% from $10,606,000 in 2016. The highest amount was $15,734,000 in 2022, representing an increase of 48.5% from $10,985,000 in 2020. Direct premiums earned followed a similar pattern.

The lowest amount was $10,341,000 in 2017, while the highest was $15,009,000 in 2022. This was a 38.4% increase from $10,850,000 in 2020. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by 35.5% from $10,985,000 to $14,870,000. The smallest year-over-year increase was just 0.5% between 2016 and 2017.

Loss Ratios for Product Liability

The Products Liability loss ratio data for Montana from 2015 to 2022 shows considerable variations. The years 2015 and 2016 witnessed excessively high loss ratios of 96.83% and 99.0%, respectively.

This sharply dropped to 49.67% in 2017 and slightly decreased to 48.62% in 2018. The data for 2019 is unavailable, but in 2020, the loss ratio increased to 60.79%. The year 2021 shows an exceptionally high loss ratio of 106.84%. The loss ratio then dropped to 60.44% 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 Montana increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $631,020,000 in 2015.

The highest was $940,653,000 in 2022, representing an increase of over 49% during the 8 year period. Direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $65,116,000 or 7.4% (from $875,373,000 to $940,653,000). The smallest increase was 2.0%, from $798,249,000 in 2019 to $814,295,000 in 2020.

The direct premiums earned followed a similar upward trend as the direct premiums written, but were slightly lower each year. This is likely due to the lag between when premiums are written and when they are earned. The lowest direct premiums earned was $621,923,000 in 2015 and the highest was $917,654,000 in 2022, a 47% increase.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Montana displays substantial fluctuations over the observed years. In 2016, the loss ratio reached a peak of 75.98%, followed by a decline to 57.76% in 2018. Interestingly, a similar pattern was repeated in the succeeding years with a surge to 74.53% in 2019 and a dip to 52.45% in 2020.

The years 2021 and 2022, however, saw a return to higher loss ratios, at 59.28% and 73.44% respectively. The overall trend is one of variability, with no clear trajectory of increasing or decreasing loss ratios.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto insurance in Montana increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $153,923,000 in 2015. The highest amount was $244,307,000 in 2022. This represents an increase of over 58% 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 $20,296,000 or 9.8% (from $206,476,000 to $226,772,000). The smallest year-over-year increase was 1.0%, from $155,062,000 in 2016 to $156,128,000 in 2017.

The direct premiums earned followed a similar pattern to the direct premiums written, with steady increases each year from 2015 to 2022. The lowest amount was $152,806,000 in 2015 and the highest was $237,485,000 in 2022, an increase of over 55% over the period. As with the direct premiums written, the largest year-over-year increase in direct premiums earned was between 2020 and 2021 at 9.0% (from $199,959,000 to $217,302,000). The smallest increase was 0.4% between 2016 and 2017 (from $155,479,000 to $156,542,000).

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for Montana displays noticeable shifts over the specified years. In 2015, the loss ratio was 52.97%, increasing to 63.56% in 2016. A slight decrease to 53.56% occurred in 2017, followed by the highest observed value of 65.2% in 2018, indicating a period of great variability.

The subsequent years, 2019 and 2020, saw a decline to 60.23% and 57.74%, respectively. However, in 2021, the loss ratio dipped sharply to 46.61%. In 2022, the loss ratio climbed back to 55.11%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Montana increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $9,581,000 in 2015.

This steadily increased each year, with the exception of a dip in 2017 to $9,235,000. The highest direct premiums written was $23,162,000 in 2022, representing an increase of over 140% from 2015. Direct premiums earned followed a similar upward trend, starting at $9,884,000 in 2015 and reaching $21,987,000 in 2022 - an increase of over 120%.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $4,661,000 or 37.4% (from $12,459,000 to $17,120,000). The smallest increase was just 2.5% between 2016 and 2017.

Loss Ratios for Aircraft

The loss ratio data for Aircraft insurance in Montana demonstrates notable fluctuations over the years. In 2015, the loss ratio peaked at an alarming 137.71%, indicating a concerning year for insurers in this line of business. However, a substantial improvement was observed in 2016 with a 58.27% loss ratio, followed by a significant drop to 18.4% in 2017.

The loss ratio increased again in 2018 to 72.33% and slightly decreased to 66.38% in 2019. A positive turnaround occurred in 2020, with the loss ratio falling to 35.11%. This improvement continued into 2021 and 2022, with the loss ratios stabilizing at 39.06% and 39.83%, respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and earned for fidelity insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2,747,000 in 2015. This increased to $3,223,000 in 2016 before dropping slightly to $3,065,000 in 2017.

Direct premiums written then remained relatively steady between $3,039,000 and $3,110,000 from 2018 to 2019. In 2020, direct premiums written rose to $3,488,000, representing a 12.1% increase from 2019. The highest amount was $3,714,000 in 2022.

Direct premiums earned followed a similar pattern. The lowest amount was $2,982,000 in 2016, while the highest was $3,590,000 in 2022. The largest year-over-year increase for direct premiums earned was from 2020 to 2021, when it grew by 2.3% from $3,260,000 to $3,338,000.

Loss Ratios for Fidelity

The Fidelity loss ratio data for Montana shows considerable fluctuations across the examined period. In 2016, the loss ratio peaked at 58.74%, then dramatically dropped to 8.34% in 2017. This was followed by an increase to 34.83% in 2018 and a subsequent decrease to 26.08% in 2019.

The year 2020 saw the lowest loss ratio at 11.53%. However, the data for 2022 shows an unprecedented spike, reaching a loss ratio of 106.24%, which is remarkably higher than any previous year.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in Montana increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $29,629,000 in 2015. The highest amount was $43,439,000 in 2022. This represents an increase of over 46% 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 $4,951,000 or 12.9% (from $38,488,000 to $43,439,000). The smallest year-over-year increase was 1.1%, from $28,271,000 in 2016 to $28,569,000 in 2017.

The direct premiums earned followed a similar upward trend over the period, with the lowest amount being $27,967,000 in 2015 and the highest being $40,725,000 in 2022. This was an increase of over 45% over the 8 years. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 9.8% (from $37,132,000 to $40,725,000). The smallest increase was 3.9% from 2016 to 2017.

Loss Ratios for Surety

The Surety loss ratio data for Montana exhibits notable fluctuations between 2015 and 2022. A significant rise is observed in 2019 with a loss ratio of 52.04%, a stark increase from 1.61% in 2018. However, this high was followed by a decrease to 8.64% in 2020.

Another surge is noted in 2021, with the loss ratio reaching 48.05%, only to drastically drop to a mere 0.1% in 2022. The years 2016, 2017, and 2018 present relatively stable loss ratios, ranging from 1.61% to 5.66%, indicating a consistent claims environment during this period.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Montana fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $120,000 in 2020, while the highest was $1,718,000 in 2017. This represents an increase of over 1,300% from the low in 2020 to the high in 2017.

Direct premiums written increased from $993,000 in 2015 to a peak of $1,718,000 in 2017, before declining to $120,000 in 2020. They then increased again to $807,000 in 2022. The largest year-over-year increase was from 2016 to 2017, when direct premiums written grew by $546,000 or 46.6% (from $1,172,000 to $1,718,000). Direct premiums earned followed a similar pattern, starting at $1,274,000 in 2015, peaking at $1,365,000 in 2019, declining to $973,000 in 2020, and recovering somewhat to $876,000 in 2022. The largest year-over-year increase was from 2018 to 2019, when direct premiums earned grew by $101,000 or 8.0% (from $1,264,000 to $1,365,000).

The data shows significant fluctuation in warranty insurance premiums in Montana over the 8 year period, with a large spike in 2017 followed by a steep decline over the next few years. By 2022, premiums had recovered somewhat but remained below the peak levels of the middle years.

Loss Ratios for Warranty

The loss ratio data for Warranty in Montana presents some notable trends and variations over the given years. From 2015 to 2018, we observe a steady increase in loss ratios, starting at 42.58% in 2015 and reaching 52.52% in 2018.

In 2019, there is a significant jump in the loss ratio to 65.18%, which appears as an outlier compared to the surrounding years. Interestingly, in 2020, the loss ratio declines considerably to 40.98%. The data for the two most recent years, 2021 and 2022, show loss ratios of 60.16% and 61.63%, respectively.