Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in New York state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $725,936,000 in 2017. This was a decrease of 13.4% from $842,046,000 in 2015.

The highest amount was $1,249,357,000 in 2022, representing an increase of 72.4% from 2017. Direct premiums earned followed a similar pattern. The lowest amount was $755,860,000 in 2017, down 9.9% from $838,186,000 in 2015. The highest was $1,182,708,000 in 2022, up 56.4% from 2017.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $601,177,000 or 57.5% (from $1,046,419,000 to $1,096,596,000). The smallest year-over-year increase was just 2.8%, from $808,937,000 in 2016 to $831,224,000 in 2017.

Loss Ratios for Fire

The loss ratio data for Fire insurance in New York exhibits compelling variations from 2015 to 2022. The loss ratios ranged from a minimum of 30.61% in 2015 to a peak of 58.64% in 2020. During the initial period from 2015 to 2017, an upward trend was observed, with loss ratios increasing from 30.61% to 46.19%.

However, a slight decrease to 45.28% was registered in 2018, followed by a substantial drop to 33.65% in 2019. Interestingly, the year 2020 witnessed the highest loss ratio of 58.64%, a significant jump from the previous year. In the following year, 2021, a decrease to 38.25% was noted, but 2022 once again showed a rise, with the loss ratio reaching 56.55%.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $653,181,000 in 2015. The highest was $1,006,476,000 in 2022. This represents an increase of over 54% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase was from 2020 to 2021, when direct premiums written grew by $162,843,000 or 19.7% (from $828,304,000 to $891,147,000). The smallest year-over-year increase was 1.7%, from $593,080,000 in 2017 to $603,021,000 in 2018.

The pattern for direct premiums earned is similar. The lowest amount was $615,125,000 in 2015 and the highest was $952,791,000 in 2022, an increase of over 55%. The largest year-over-year increase was 17.4%, from $765,397,000 in 2020 to $859,844,000 in 2021. The smallest was 1.9%, from $595,659,000 in 2017 to $600,008,000 in 2018.

Loss Ratios for Allied Lines

The Allied Lines loss ratio data in New York presents fascinating trends and fluctuations between 2015 and 2022. Loss ratios display considerable variability, with the lowest value of 18.95% in 2016 and the highest at 86.05% in 2020.

In the earlier years, the loss ratios demonstrated a downward trend from 37.11% in 2015 to 18.95% in 2016, followed by a sharp increase to 64.08% in 2017. The ratios then declined for two consecutive years, reaching 34.53% in 2018 and slightly rising to 36.1% in 2019.

The most significant surge occurred in 2020 with an 86.05% loss ratio, more than double the previous year's value. Recent years, however, show a decline in loss ratios with 40.33% in 2021 and 47.7% in 2022. This downward trend indicates a recovery from the peak in 2020.

Direct and Earned Premiums for Multi-Peril Crop

The data shows that direct premiums written for Federal Multi-Peril Crop insurance in New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $39,664,000 in 2015. The highest amount was $96,110,000 in 2022. This represents an increase of over 140% 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 $7,865,000 or 8.9% (from $88,245,000 to $96,110,000). The smallest year-over-year increase was just 2.8%, from $53,504,000 in 2018 to $54,995,000 in 2019.

The direct premiums earned followed a similar upward trend over the period, growing from $43,503,000 in 2015 to $97,341,000 in 2022, an increase of over 124%. However, the direct premiums earned lagged slightly behind the direct premiums written in most years. For example, in 2022 the direct premiums written were $96,110,000 while the direct premiums earned were $97,341,000.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio rates in New York display a fascinating pattern of highs and lows across eight years. In 2015, the loss ratio was at 87.99%, before spiking to 109.13% in 2016. The most significant increase is observed in 2017, reaching a peak of 152.77%.

This was followed by a substantial drop to 74.96% in 2018. In 2019, the rates bounced back to 110.59% but declined to 96.72% in 2020. A further dip to 73.88% was recorded in 2021. The most recent year, 2022, shows the lowest loss ratio in the observed period at 49.61%.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in New York state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $170,628,000 in 2015. This increased to a high of $183,356,000 in 2021 before dropping to $148,751,000 in 2022.

Direct premiums earned followed a similar pattern. The lowest amount was $172,557,000 in 2015, rising to a peak of $181,583,000 in 2021, then falling to $168,820,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $4,023,000 or 2.2% (from $179,293,000 to $183,356,000). The largest decline was from 2021 to 2022, dropping by $34,605,000 or 18.9%.

For direct premiums earned, the biggest increase was also from 2020 to 2021, rising by $2,295,000 or 1.3% (from $179,288,000 to $181,583,000). It then fell by $12,763,000 or 7.0% from 2021 to 2022.

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for New York displays notable trends and fluctuations between 2015 and 2022. In the earlier years, the loss ratios experienced a general decline, with 48.14% in 2015, 33.18% in 2016, and 33.94% in 2017.

A more significant drop is observed from 2017 to 2018, where the loss ratio decreased to 17.0%. The downward trend continued, reaching its lowest point in 2019 with a loss ratio of 6.51%.

However, a slight increase occurred in 2020, bringing the loss ratio to 7.2%. The most striking change is observed in 2021, where the loss ratio skyrocketed to 67.37%, a drastic difference compared to the previous years. In 2022, the loss ratio returned to a lower percentage, settling at 7.35%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and earned for private crop insurance in New York state fluctuated between 2015 and 2022. The lowest amount of direct premiums written and earned was $20,000 in 2017. The highest amount was $428,000 in 2022.

Looking at the year-over-year changes, direct premiums written and earned decreased from $65,000 in 2016 to $20,000 in 2017, representing a 69% drop. There was then an increase to $64,000 in 2018 and a large jump to $194,000 in 2019. Premiums dipped to $179,000 in 2020 before rising again to $122,000 in 2021 and then sharply increasing to $428,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when premiums grew by $306,000 or 251% (from $122,000 to $428,000). The smallest year-over-year change was a $1,000 or 0.5% decrease in direct premiums earned from 2022 ($428,000 written) to 2022 ($422,000 earned).

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in New York exhibits substantial fluctuations across the years. A notable peak is observed in 2015, with a loss ratio of 87.24%, followed by a dramatic decline to 8.66% in 2016. Data is unavailable for 2017 and 2018, but the loss ratio resurfaces at a low of 12.72% in 2019.

A remarkable change transpires in 2020, as the loss ratio soars to an unprecedented 295.39%, indicating a significant imbalance between claims paid and premiums earned. The data for 2021 is absent, but in 2022, the loss ratio decreases considerably to 45.63%, which is still higher than the values reported in 2016 and 2019.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and direct premiums earned for private flood insurance in New York State increased substantially from 2016 to 2022. The lowest amount of direct premiums written was $27,419,000 in 2016. This steadily increased each year, with the highest amount being $94,008,000 in 2022. This represents an increase of over 240% over the 7 year period.

Direct premiums earned followed a similar trend, starting at $15,946,000 in 2016 and reaching $87,664,000 in 2022, an increase of over 450%. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $15,219,000 or 19.3% (from $78,789,000 to $94,008,000). The smallest year-over-year increase was just 2.9%, from $47,243,000 in 2018 to $48,586,000 in 2019.

For direct premiums earned, the biggest jump was from 2016 to 2017, increasing by $27,346,000 or 171.5% (from $15,946,000 to $43,292,000). The smallest increase was 6.7%, from $43,138,000 in 2018 to $44,921,000 in 2020.

Loss Ratios for Private Flood

The loss ratio data for Private Flood insurance in New York shows interesting trends over the years. From 2016 to 2018, the loss ratios steadily decreased, with 2018 recording the lowest ratio of 0.32%. However, 2019 and 2020 saw an increase in loss ratios, reaching 11.15% and 10.63%, respectively.

A significant spike is observed in 2021, with the loss ratio surging to an unprecedented 85.13%, a drastic increase compared to previous years. This surge was followed by a sharp decline in 2022, with the loss ratio falling to 8.59%.

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 New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $41,296,000 in 2015.

The highest was $54,883,000 in 2022, representing an increase of over 33% over 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 $5,993,000 or 11.5% (from $51,890,000 to $54,883,000). The smallest increase was 1.9%, from $41,687,000 in 2016 to $42,898,000 in 2017. The trends for direct premiums earned are similar.

The lowest amount was $40,625,000 in 2015 and the highest was $53,605,000 in 2022, an increase of 32% over the period. As with direct premiums written, direct premiums earned increased each year, with the largest increase of 11.3% occurring from 2021 to 2022 (from $50,501,000 to $53,605,000).

Loss Ratios for Farmowners Multiple Peril

Analysis of the loss ratio data for Farmowners Multiple Peril insurance in New York shows interesting trends over the years. The loss ratios have fluctuated, presenting a range between 41.56% in 2016 and 57.53% in 2019. After a dip in 2016, the ratio rose steadily until 2019 before experiencing a decline in 2020 to 44.44%.

The years 2021 and 2022 witnessed a slight increase with ratios of 47.32% and 48.86% respectively. The year 2015 had a moderately high loss ratio of 54.36%, while 2017 and 2018 showed relatively consistent figures of 45.0% and 52.81%.

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 New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $5,220,744,000 in 2015. The highest was $6,826,438,000 in 2022. This represents an increase of over 30% 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 $1,531,233,000 or 24.5% (from $6,250,205,000 to $6,826,438,000). The smallest year-over-year increase was 4.2%, from $5,250,251,000 in 2016 to $5,315,074,000 in 2017.

The direct premiums earned followed a similar pattern, increasing each year from 2015 to 2022. It rose from $5,110,451,000 in 2015 to $6,502,616,000 in 2022, an increase of over 27%. The largest annual increase was 19.5% between 2021 and 2022 (from $6,023,384,000 to $6,502,616,000). The smallest was 3.8% between 2016 and 2017.

Loss Ratios for Homeowners Multiple Peril

The Homeowners Multiple Peril loss ratio data in New York uncovers interesting trends over the years. The ratios demonstrate substantial variation, dipping to its lowest at 41.44% in 2016, up from 48.38% in 2015.

The ratio then moderately increased to 42.75% in 2017, before escalating to its highest point at 55.75% in 2018. Post-2018, the ratio experienced a slight decrease to 49.0% in 2019, followed by a marginal increase to 49.41% in 2020. The year 2021 saw another significant rise to 55.07%, yet this was not sustained into 2022, which recorded a decrease to 52.59%.

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 New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $370,691,500 in 2015. The highest amount was $503,725,500 in 2022. This represents an increase of over 35% 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 $108,301,300 or 23.5% (from $459,924,200 to $503,725,500).

The smallest year-over-year increase was 2.4%, from $377,253,000 in 2016 to $401,416,600 in 2017. The trends for direct premiums earned are similar, with the lowest amount being $362,755,700 in 2015 and the highest being $483,439,100 in 2022. This is a 33% increase over the period. The largest year-over-year growth in direct premiums earned was 24.2% between 2021 and 2022 (from $444,031,700 to $483,439,100). The smallest was 4.9% between 2018 and 2019.

Loss Ratios for Commercial Multiple Peril

The analysis of loss ratio data for Commercial Multiple Peril in New York from 2015 to 2022 reveals noticeable fluctuations. The loss ratios varied from 45.72% in 2015 to a peak of 59.72% in 2022. In 2016, there was a significant increase to 55.76% compared to the previous year.

Apart from a slight dip to 46.58% in 2017, the trend remained generally upward, with the highest jump observed between 2018 and 2020, from 56.75% to 57.98%. The years 2021 and 2022 demonstrated relatively consistent loss ratios of 54.5% and 59.72%, respectively, though both were higher than the 2015 start point.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in New York state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $169,550,000 in 2015. This increased each year, reaching a high of $201,785,000 in 2022. This represents an increase of over 19% from 2015 to 2022.

Similarly, direct premiums earned grew from $163,481,000 in 2015 to $206,414,000 in 2022, an increase of over 26%. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $9,134,000 or 4.8% (from $189,153,000 to $198,287,000). The smallest year-over-year increase was just 0.5% from 2017 to 2018 ($17,152,800 to $17,186,100).

For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $7,721,000 or 4.2% (from $185,609,000 to $193,830,000). The smallest increase was only 0.3% from 2016 to 2017 ($163,684,000 to $173,729,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty business in New York showed intriguing loss ratio patterns from 2015 to 2022. From 52.92% in 2015, the loss ratio saw a drop to 46.43% in 2016.

A drastic plunge to 5.92% was observed in 2017, followed by a slight rise to 12.84% in 2018 and a small dip to 11.63% in 2019. A significant surge occurred in 2020 with the loss ratio skyrocketing to 56.86%. However, the subsequent year, 2021, witnessed a sharp decline to 19.79%.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in New York fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $375,306,000 in 2018, while the highest was $527,766,000 in 2022.

Direct premiums written increased each year from 2018 to 2022, with the largest year-over-year increase occurring between 2021 and 2022 when direct premiums written grew by $67,887,000 or 14.7% (from $459,879,000 to $527,766,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, ranging from a low of $375,366,000 in 2018 to a high of $524,123,000 in 2022. The largest year-over-year increase in direct premiums earned was between 2021 and 2022, growing by $59,192,000 or 12.7% (from $464,931,000 to $524,123,000).

Loss Ratios for Ocean Marine

The loss ratio data for Ocean Marine insurance in New York reveals noticeable variations from 2015 to 2022. The data ranged from a low of 41.3% in 2020 to a peak of 76.53% in 2019. Between 2015 and 2018, the loss ratios showed a moderate upward trend, starting at 57.68% in 2015 and reaching 61.07% in 2018.

However, the most significant jump was observed in 2019 where the loss ratio surged to a record 76.53%. This spike was followed by a sharp decline to 41.3% in 2020. The subsequent years, 2021 and 2022, witnessed a recovery with loss ratios rebounding to 52.26% and 66.92% respectively.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in New York State increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $1,510,929,000 in 2015. T

his increased each year, reaching a high of $2,393,077,000 in 2022 - an increase of over 58% during the 8 year period. The direct premiums earned followed a similar trajectory, starting at $1,470,547,000 in 2015 and ending at $2,280,780,000 in 2022, representing a 55% increase. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $422,957,000 or 21.5% (from $1,971,120,000 to $2,393,077,000).

The smallest increase was just 2.9% between 2016 and 2017 ($152,378,000 to $164,819,000). For direct premiums earned, the biggest jump was 20.8% from 2021 to 2022 ($1,900,724,000 to $2,280,780,000). The smallest increase was 1.4% from 2016 to 2017.

Loss Ratios for Inland Marine

The Inland Marine Loss Ratio data for New York reveals striking trends over the years. A marked increase is seen from 28.57% in 2015 to 54.96% in 2017. The ratio slightly decreased to 51.43% in 2018, followed by a minor drop to 46.9% in 2019. An exceptional surge occurred in 2020, when the loss ratio skyrocketed to 99.07%.

This represents the highest point in the dataset and is more than double the previous year's ratio. Following this peak, the loss ratio in 2021 decreased significantly to 47.46%, nearly reaching its 2019 level. As of 2022, the loss ratio showed a moderate increase to 52.81%.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in New York state fluctuated between 2015 and 2022.

The direct premiums written peaked at $226,759,000 in 2015, then declined each year until 2021 when it reached a low of $91,227,000. This represents a decrease of 59.8% from 2015 to 2021. In 2022, the direct premiums written rebounded to $134,855,000, a 47.8% increase from 2021 but still 40.5% below the 2015 high.

The direct premiums earned follow a similar trend, starting at $443,767,000 in 2015 and declining each year until hitting a low of $95,357,000 in 2022. This represents a 78.5% decrease over the period. The largest single year-over-year decline for direct premiums earned was from 2016 to 2017, when it fell 44.4% from $492,909,000 to $274,312,000.

Loss Ratios for Commercial Financial Guaranty

The available loss ratio data for Financial Guaranty in New York presents limited information, with only one data point reported in 2017 at 6.51%. The remaining years, from 2015 to 2022, show no data available.

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 New York fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $154,917,700 in 2017. The highest was $176,435,600 in 2022.

Direct premiums written decreased from $165,146,000 in 2015 to $154,917,700 in 2017, before increasing again to $176,435,600 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $12,089,600 or 7.3% (from $166,036,600 to $176,435,600).

Direct premiums earned followed a similar pattern, with the lowest amount being $156,897,300 in 2017 and the highest being $176,139,100 in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $9,479,200 or 5.9% (from $166,159,200 to $176,139,100).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability data for New York presents interesting fluctuations over the years. In 2015, the loss ratio was 58.93%, which moderately increased to 60.28% in 2016. However, a decline was recorded in 2017, with a loss ratio of 57.17%. A considerable drop was observed in the subsequent years, with loss ratios of 41.53% and 40.44% in 2018 and 2019, respectively.

Interestingly, 2020 saw a significant increase to 63.05%, marking a notable shift in the trend. This upward trend continued into 2021, with the loss ratio reaching a peak of 70.07%. The loss ratio for 2022 was slightly lower at 69.6%, but still maintained the high levels seen in the prior two years.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in New York state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $43,559,000 in 2016. The highest was $94,656,000 in 2022. This represents an increase of over 117% from the low in 2016 to the high in 2022.

Direct premiums written decreased from $53,503,000 in 2015 to $43,559,000 in 2016 before increasing each year from 2017 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $24,168,000 or 34.3% (from $70,488,000 to $94,656,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $49,075,000 in 2016 and the highest being $85,178,000 in 2022. This was a 73.5% increase. The largest year-over-year growth in direct premiums earned was from 2021 to 2022 at 21.6% (from $70,062,000 to $85,178,000).

Loss Ratios for Earthquake

The loss ratio percentages for Earthquake insurance in New York present an intriguing pattern over the years. The data remained unrecorded in 2015 and 2016, with the first entry of 2.64% appearing in 2017. The ratio then rose to 4.3% in 2018, marking a noticeable increase. However, 2019 saw a drastic drop to a mere 0.16%, contrasting sharply with the previous year.

In 2020, the ratio rose again to 3.26%, yet fell to an all-time low of 0.08% in 2021, showing a considerable fluctuation. The most striking shift is in 2022, with the ratio skyrocketing to 10.44% - the highest in this set of data by a significant margin.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in New York fluctuated over the 2015-2022 period. The lowest amount of direct premiums written was $474,989,500 in 2020, while the highest was $594,253,900 in 2017.

Direct premiums written increased from 2015 to 2017, before declining in 2018 and then more sharply in 2019 and 2020. They rebounded partially in 2021 and 2022 but remained below the 2017 peak. Direct premiums earned followed a similar pattern to direct premiums written over the period.

The lowest direct premiums earned was $481,910,500 in 2020 and the highest was $584,785,400 in 2017. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when they grew by $52,314,900 or 8.9% (from $589,391,100 to $594,253,900). The largest decline was from 2019 to 2020, when direct premiums written fell by $186,211,800 or 33.1% (from $562,101,300 to $474,989,500).

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for New York between 2015 and 2022 displays notable changes. The loss ratio in 2015 was fairly high at 65.44%, declining to 62.74% in 2016. There was a more significant drop in 2017, with the loss ratio falling to 55.45%.

The downward trend persisted through 2018 and 2019, hitting lows of 47.04% and 46.87% respectively. Interestingly, the loss ratio began to rise again in 2020, reaching 54.9%. However, the increase was short-lived as the figure dipped slightly to 53.99% in 2021, then further down to 47.46% in 2022.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and earned for products liability insurance in New York fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $294,620,000 in 2016. The highest was $360,336,000 in 2019. This represents an increase of 22.4% from the low point in 2016 to the high point in 2019.

Direct premiums written increased from 2015 to 2019, going from $302,454,000 to $360,336,000. This was an increase of 19.1% over the 5 year period. The largest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $51,795,000 or 16.8% (from $308,541,000 to $360,336,000).

Direct premiums earned followed a similar pattern, starting at $270,057,000 in 2015 and reaching a high of $338,696,000 in 2019. This was a 25.4% increase over the period. The biggest year-over-year jump was also from 2018 to 2019, when direct premiums earned increased by $22,390,000 or 7.1% (from $316,306,000 to $338,696,000).

Loss Ratios for Product Liability

The loss ratio data for Products Liability in New York demonstrates notable trends and variations across the observed years. In 2016 and 2017, the loss ratios were relatively low at 3.07% and 7.78%, respectively. However, a considerable surge was noted in 2018 with a loss ratio of 53.87%. This upward trend continued in 2019, reaching a peak of 58.92%.

Interestingly, there was a significant decline in 2020 to 41.69%, but the loss ratio slightly rebounded to 45.99% in 2021. The most drastic reduction was observed in 2022, when the loss ratio plummeted to 16.37%.

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 New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $11,944,720,000 in 2015. This increased each year, reaching a high of $15,275,581,000 in 2022 - an overall increase of 28% over the 8 year period.

Direct premiums earned followed a similar trajectory, starting at $11,766,592,000 in 2015 and reaching $15,138,478,000 in 2022, a 29% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew from $14,006,259,000 to $14,937,654,000.

The smallest increase was just 2.8% between 2018 and 2019. For direct premiums earned, the biggest jump was 14.2% from 2020 to 2021. It increased from $13,968,211,000 to $14,690,833,000. The smallest increase was 2.6% from 2018 to 2019.

Loss Ratios for Private Passenger Auto

The loss ratio percentage for Private Passenger Auto Total in New York shows interesting patterns over the years. The figures stayed relatively stable from 2015 to 2019, hovering around 68% to 69%.

A noticeable dip was observed in 2020, where the loss ratio fell to 59.95%, the lowest in the period under review. However, this downward trend was short-lived as 2021 saw a significant spike to 74.59%, followed by a further increase in 2022 to a record high of 84.26%.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in New York increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $2,233,699,000 in 2015. The highest amount was $3,334,371,000 in 2022. This represents an increase of over 49% 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 $6,164,722,000 or 21.8% (from $2,826,328,000 to $3,088,030,000). The smallest year-over-year increase was 2.3%, from $2,693,795,000 in 2018 to $2,742,337,000 in 2019.

The trends for direct premiums earned are similar. The lowest amount was $2,165,983,000 in 2015 and the highest was $3,246,488,000 in 2022, representing a 50% increase. The largest year-over-year growth was 20.8% between 2020 and 2021, and the smallest was 4.0% between 2018 and 2019.

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for New York between 2015 and 2022 reveals distinct patterns and variations. Between 2015 and 2016, there was a slight increase in loss ratios from 66.91% to 69.21%.

The loss ratio then decreased marginally to 67.65% in 2017 before surging to its highest point of 76.97% in 2018. In 2019, the loss ratio experienced a moderate drop to 74.44%, followed by a more substantial decline to 67.1% in 2020. The subsequent years, 2021 and 2022, saw an increase in loss ratios to 68.14% and 75.58%, respectively.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in New York fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $44,218,000 in 2016, while the highest was $80,691,000 in 2022.

Direct premiums written increased overall during the 8 year period, with the exception of a drop from $62,777,000 in 2015 to $44,218,000 in 2016. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $33,691,000 or 45.7% (from $73,700,000 to $80,691,000). The smallest year-over-year increase was just 2.8%, from $52,499,000 in 2017 to $53,047,000 in 2018. For direct premiums earned, the lowest amount was $49,276,000 in 2016 and the highest was $79,520,000 in 2022.

Like direct premiums written, direct premiums earned also saw an overall increasing trend between 2015 and 2022. The largest year-over-year increase in direct premiums earned was from 2020 to 2021, when it grew by $12,217,000 or 16.7% (from $73,223,000 to $79,520,000). The smallest increase was just 0.8% between 2017 and 2018.

Loss Ratios for Aircraft

The Aircraft Loss Ratio in New York demonstrated substantial fluctuations from 2015 to 2022. A peak loss ratio of 157.37% in 2015 was followed by a drastic decrease to 32.74% in 2016.

However, from 2017 to 2020, there was a fairly consistent range of loss ratios, oscillating between 65.21% and 71.29%. Notably, 2021 saw an uptick to a high loss ratio of 91%, similar to the 2015 outlier. The data for 2022, however, reports a decrease to 51.13%.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in New York State fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $140,472,000 in 2017. The highest was $184,467,000 in 2022. This represents an increase of over 31% from the low in 2017 to the high in 2022.

Direct premiums written decreased from $149,415,000 in 2015 to $140,472,000 in 2017, before increasing 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 $17,137,000 or 10.6% (from $161,059,000 to $178,196,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the low of $142,930,000 occurring in 2017 and the high of $181,715,000 in 2022. This was an increase of over 27% between those years. The largest year-over-year growth in direct premiums earned was also from 2020 to 2021, increasing by $13,148,000 or 8.3% (from $157,357,000 to $170,805,000).

Loss Ratios for Fidelity

The Fidelity loss ratio data in New York displays some remarkable trends over the observed years. A noticeable spike in loss ratios is evidenced in 2017 with a peak of 90.58%, a significant rise from 42.88% in 2016. This was followed by a marginal decrease to 84.85% in 2018. A sharp drop is observed in 2019, as ratios plummet to 31.07%.

The subsequent years 2020 and 2021 show further declines, reaching lows of 34.91% and 23.73% respectively. However, 2022 witnesses a slight uptick, ending at 36.03%. This data suggests a period of high loss ratios between 2017 and 2018, followed by a consistent decrease, and a modest rise in 2022.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in New York state increased overall from 2015 to 2022. The lowest amount of direct premiums written was $366,065,000 in 2015. This steadily increased each year, with the exception of 2020 which saw a dip to $423,205,000. The highest direct premiums written was $601,256,000 in 2022, representing a 64% increase from 2015.

Direct premiums earned followed a similar trend, starting at $357,356,000 in 2015 and reaching $502,915,000 in 2022, a 41% increase. The largest year-over-year growth for direct premiums written was from 2021 to 2022 at 26%. The smallest was from 2019 to 2020 at -9.5%. For direct premiums earned, the largest growth was also 2021 to 2022 at 13%, while the smallest was from 2018 to 2019 at 5.8%.

Loss Ratios for Surety

The Surety loss ratio data in New York from 2015 to 2022 presents an intriguing pattern. The loss ratios started modestly at 16.17% in 2015, with slight fluctuations in 2016 and 2017, peaking at 19.56% and dipping to 18.03% respectively. The year 2018 saw a minor decrease to 16.28%.

However, a notable surge occurred in 2019, with the loss ratio skyrocketing to 33.22%. The trend continued into 2020 where the ratio peaked at 54.17%, which was significantly higher than all preceding years. The data in the subsequent years, 2021 and 2022, showed a sharp decline to 20.25% and 14.96% respectively.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in New York fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $52,951,000 in 2017, while the highest was $73,602,000 in 2022. Direct premiums written decreased from $66,954,000 in 2015 to $52,951,000 in 2017, before increasing again to $73,602,000 in 2022.

The direct premiums earned followed a similar pattern, with the lowest amount being $47,147,000 in 2017 and the highest being $60,658,000 in 2022. The largest year-over-year decrease in direct premiums earned was from 2016 to 2017, dropping from $49,637,000 to $47,147,000, a decrease of 5.0%. The largest increase was from 2021 to 2022, rising from $56,348,000 to $60,658,000, an increase of 7.6%.

Loss Ratios for Warranty

The Warranty line of business in New York demonstrates interesting patterns in loss ratio percentages over the years. In 2015, the loss ratio began at 65.74%, then notably increased to 71.05% in 2016. However, a significant dip occurred in 2017 with a loss ratio of 52.67%. The highest ratio was recorded in 2018 at 79.54%, before a slight decrease to 73.5% in 2019. The year 2020 saw a further reduction to 67.31%, indicating a downward trend. Yet, this was followed by a decrease to 53.87% in 2021 before a slight increase to 59.23% in 2022.