Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in North Dakota increased overall from 2015 to 2022. The lowest amount of direct premiums written was $34,746,000 in 2015. This steadily increased each year until 2021, when it reached $49,421,000, representing an increase of 42% over the 7 year period.

The only exception was a slight dip from $34,356,000 in 2017 down to $34,354,000 in 2018. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $17,734,000 or 35.9% (from $49,421,000 to $67,155,000). The smallest year-over-year increase was just 0.05% between 2017 and 2018. The direct premiums earned followed a similar trajectory, with the lowest amount being $34,546,000 in 2015 and the highest being $56,803,000 in 2022.

However, the direct premiums earned lagged slightly behind the direct premiums written each year. The largest difference was in 2022 when direct premiums written were $67,155,000 and direct premiums earned were $56,803,000.

Loss Ratios for Fire

The Fire insurance loss ratio in North Dakota displays notable variations over the years. A significant drop is observed from 58.58% in 2015 to 24.46% in 2017.

However, the ratio experienced a surge to 53.35% in 2019. The year 2021 witnessed the highest loss ratio of 69.84%. Interestingly, this was followed by a sharp decline to 32.54% in 2022. The data reflects a lack of consistency in the loss ratios.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $37,626,000 in 2017, while the highest was $59,328,000 in 2022. Direct premiums written increased overall during the 8-year period, with the largest year-over-year increase occurring between 2021 and 2022, when direct premiums written grew by $5,555,000 or 10.3% (from $53,773,000 to $59,328,000).

Similarly, direct premiums earned were lowest at $38,332,000 in 2017 and highest at $56,551,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2020 to 2021, when it grew by $10,282,000 or 20.7% (from $49,783,000 to $56,551,000). The smallest year-over-year increase for direct premiums earned was just 1.4%, from $38,953,000 in 2016 to $39,532,000 in 2017.

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in North Dakota highlights significant fluctuations over the years, indicating an unstable claims environment. The most striking variation occurs between 2015 and 2016, with loss ratios increasing from 50.81% to an alarming 197.56%.

Following 2016, the loss ratio dropped to 39.31% in 2017, its lowest point in this period, before increasing again to 86.79% in 2018 and 82.09% in 2019. This pattern of fluctuations continued in 2020, with the loss ratio dipping to 29.94%, the lowest in the entire dataset. Despite this improvement, the loss ratios increased once more in 2021 and 2022, reaching 72.99% and 70.08%, respectively.

Direct and Earned Premiums for Multi-Peril Crop

The data shows that direct premiums written and direct premiums earned for Federal Multi-Peril Crop insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $848,486,000 in 2019. The highest was $1,535,938,000 in 2022. This represents an increase of over 80% from 2019 to 2022.

Direct premiums written increased each year from 2015 to 2017, from $863,655,000 to $933,442,000. It then decreased in 2018 to $871,803,000 before dropping again in 2019 to the low of $848,486,000. After 2019, direct premiums written increased each year, with the largest year-over-year increase occurring between 2021 and 2022 when it grew by $444,104,000 or 41%.

The pattern for direct premiums earned is similar, though the specific values differ slightly in each year. The lowest direct premiums earned was $847,355,000 in 2019 and the highest was $1,537,776,000 in 2022. This represents an increase of over 80% between those years.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop insurance in North Dakota presented a diverse loss ratio from 2015 to 2022. Notably, the loss ratio escalated from a mere 36.19% in 2015 to a striking 147.06% in 2021, before descending to 92.87% in 2022. The years 2019 to 2021 witnessed an unusual surge, with the loss ratio peaking in 2021. Conversely, 2018 experienced a dip to 36.46%, comparable to the 2015 level. Furthermore, the numbers from 2020 and 2021, exceeded 100%. 

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $4,299,000 in 2022, while the highest was $7,010,000 in 2020.

This represents a range of over $2.7 million between the highest and lowest years. Looking at direct premiums written, there was an overall decreasing trend from 2015 to 2022, with the exception of increases in 2020 and 2021. The largest year-over-year decrease was from 2020 to 2022, when direct premiums written fell by $2,711,000 or 38.7% (from $7,010,000 to $4,299,000). For direct premiums earned, the lowest amount was $4,938,000 in 2022 and the highest was $6,763,000 in 2020.

Similar to direct premiums written, there was a general decreasing trend in direct premiums earned over the 2015-2022 period. The biggest year-over-year decrease in direct premiums earned was from 2021 to 2022, falling by $1,008,000 or 16.9% (from $5,946,000 to $4,938,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio in North Dakota displays significant fluctuations over the years. The loss ratio percentage hit a peak in 2015 at 12.84%, followed by a sharp drop to 3.17% in 2016. The ratio remained relatively low in 2017 at 3.6%, before dipping to an extreme low of 0.08% in 2018.

The year 2019 witnessed a substantial increase to 6.8%, however, this was still below the 2015 peak. The ratio continued to oscillate, dropping to 2.11% in 2020, and then slightly rising to 3.4% in 2022.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $83,554,000 in 2017. The highest was $119,809,000 in 2022. This represents an increase of over 43% from the low in 2017 to the high in 2022.

Direct premiums written increased from $85,246,000 in 2015 to $94,438,000 in 2016 before dropping to $83,554,000 in 2017. There was then a large increase to $110,287,000 in 2018 followed by a decrease to $98,227,000 in 2019. Premiums dropped again in 2020 to $91,566,000 before increasing in 2021 and 2022, reaching the period high of $119,809,000 in 2022. The trends for direct premiums earned are very similar, starting at $85,258,000 in 2015, peaking at $113,610,000 in 2018, dropping to $91,647,000 in 2020, and ending at $119,596,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2017 to 2018 when premiums grew by $26,733,000 or 32%. The smallest increase was just 1.1% from 2020 to 2021. Overall, the data shows substantial fluctuation in crop insurance premiums in North Dakota over the 8-year period.

Loss Ratios for Private Crop

The loss ratio data for Private Crop Insurance in North Dakota displays significant variation over the observed years. A conspicuous peak is noted in 2016, with a loss ratio of 152.4%, suggesting a year of particularly high claims. This peak is followed by a relative decline in 2017 and 2018 to 102.61% and 76.62% respectively.

However, in 2019, the loss ratio climbed again to 119.26%. This increase was short-lived as the following year, 2020, saw a decrease to 86.13%, closely mirrored by 2021's loss ratio of 86.78%. The most recent year, 2022, shows a significant drop to 55.85%, the lowest recorded loss ratio in the observed period.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in North Dakota fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $695,000 in 2019. The highest was $1,370,000 in 2021.

Direct premiums written increased each year from 2016 to 2018, from $1,033,000 to $1,809,000. There was then a large drop to $695,000 in 2019, before increasing again in 2020 and 2021. For direct premiums earned, the lowest amount was $611,000 in 2016 and the highest was $1,417,000 in 2022. Unlike direct premiums written, direct premiums earned did not consistently increase or decrease year-over-year.

The largest year-over-year increase in direct premiums earned was from 2016 to 2017, when it grew by $804,000 or 131% (from $611,000 to $1,415,000). The largest year-over-year decrease was from 2018 to 2019, when direct premiums earned dropped by $1,142,000 or 65% (from $1,758,000 to $636,000).

Loss Ratios for Private Flood

The analysis of Private Flood loss ratios in North Dakota between 2016 and 2022 highlights notable fluctuations and trends. In the early years, loss ratios remained relatively low, with 0.32% in 2016, increasing to 0.76% in 2017, and then dropping to 0.11% in 2018.

However, a significant spike occurred in 2019, with the loss ratio reaching 4.13%. Despite a decrease in 2020 and 2021, with loss ratios of 3.35% and 2.43% respectively, the figures remained higher than the earlier years. In 2022, the loss ratio climbed again to 4.76%, surpassing the 2019 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 North Dakota increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $115,129,000 in 2015. The highest amount was $148,444,000 in 2022. This represents an overall increase of nearly 29% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $9,298,000 or 6.7% (from $139,523,000 to $148,444,000). The smallest year-over-year increase was just 2.4%, from $135,812,000 in 2020 to $139,523,000 in 2021.

The direct premiums earned followed a similar upward trend as the direct premiums written, with the lowest amount being $112,633,000 in 2015 and the highest being $144,154,000 in 2022. This was an overall increase of about 28% over the period. The largest year-over-year jump in direct premiums earned was also from 2021 to 2022 at 6.8% (from $137,521,000 to $144,154,000).

Loss Ratios for Farmowners Multiple Peril

The North Dakota Farmowners Multiple Peril loss ratio data reveals notable fluctuations over the years. The loss ratios range from a low of 51.71% in 2019 to a high of 93.52% in 2016, indicating considerable variability during this period.

Post-2016, the loss ratios demonstrate a general downward trend, reaching their lowest point in 2019 before slightly increasing in the following years. The 2021 and 2022 loss ratios show relative stability, with respective percentages of 59.65% and 57.89%.

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 North Dakota increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $196,937,000 in 2015. The highest was $282,639,000 in 2022. This represents an increase of over 43% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $32,706,000 or 12.6% (from $259,933,000 to $282,639,000). The smallest year-over-year increase was 6.1%, from $218,605,000 in 2018 to $229,667,000 in 2019.

The direct premiums earned followed a similar trend, increasing each year from 2015 to 2022. It rose from $192,012,000 in 2015 to $270,404,000 in 2022, a 41% increase. The biggest year-over-year jump was 11.8%, from $249,948,000 in 2021 to $270,404,000 in 2022. The smallest was 6.0%, from 2016 to 2017.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in North Dakota displays considerable fluctuations over the years. In 2016, the loss ratio reached a peak of 101.99%, which stands out as a significant outlier. This is contrasted by a substantial drop to 32.42% in 2017.

Between 2018 and 2022, the loss ratios demonstrate a general upward trend, with 2018 at 43.16%, 2019 at 70.64%, and 2021 and 2022 showing relatively similar figures of 62.99% and 66.95%, respectively. Conversely, the loss ratio in 2020 dipped to 30.52%, the lowest within the observed period.

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 North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $130,962,000 in 2018, while the highest was $181,405,000 in 2022. This represents an increase of over 38% from the low in 2018 to the high in 2022.

Direct premiums written increased each year from 2018 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $25,360,000 or 16.3% (from $156,045,000 to $181,405,000). The smallest year-over-year increase was 0.5%, from $134,990,000 in 2017 to $135,821,000 in 2019.

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $131,591,000 in 2018 and the highest being $170,827,000 in 2022. This was an increase of nearly 30% over the period. The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 12.3% (from $151,959,000 to $170,827,000).

Loss Ratios for Commercial Multiple Peril

The loss ratio data for Commercial Multiple Peril in North Dakota displays notable changes within the reviewed period. The loss ratios experienced significant variations, with the lowest point at 33.74% in 2018 and the highest at 65.71% in 2020.

There was a noticeable leap from 36.37% in 2015 to 60.17% in 2016, followed by a sharp decline to 35.58% in 2017. The years 2019 to 2022 exhibited elevated loss ratios, consistently above 58%, peaking in 2020.Furthermore, although 2021 and 2022 showed a slight decrease in loss ratio compared to 2020, they maintained a relatively stable rate in the high 50s.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in North Dakota increased overall from 2015 to 2022. The lowest amount of direct premiums written was $11,157,000 in 2015. This steadily increased each year, with the highest amount being $16,103,000 in 2022. This represents an increase of 44.3% over the 8 year period. The direct premiums earned followed a similar trajectory, starting at $10,506,000 in 2015 and reaching $16,512,000 in 2022. This is a 57.2% increase over the time period.

Looking year-over-year, the largest increase in direct premiums written was from 2018 to 2019, when it grew by $4,799,000 or 34.8% (from $13,810,000 to $15,090,000). The smallest year-over-year increase was just 1.0%, from $15,657,000 in 2021 to $15,822,000 in 2020. For direct premiums earned, the biggest jump was also from 2018 to 2019, increasing by $1,650,000 or 12.0% (from $13,729,000 to $15,379,000). The smallest increase was from 2016 to 2017, when it grew by just $63,000 or 0.6% (from $11,413,000 to $11,476,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for North Dakota between 2015 and 2021 demonstrates some notable fluctuations. In the early years of this period, loss ratios remained relatively low, with 6.01% in 2015, a spike to 18.89% in 2016, and then a drop to 5.1% in 2017.

The 2018 loss ratio saw a slight increase to 6.04%, indicating a period of stability in the market. However, in 2019, the loss ratio rose to 12.64%, followed by a significant jump to 34.65% in 2020. Interestingly, the loss ratio in 2021 dropped to 11.8%. 

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in North Dakota fluctuated from 2015 to 2022. The lowest amount of direct premiums written was $1,470,000 in 2016. The highest amount was $2,788,000 in 2022. This represents an increase of 89.7% over the 8 year period.

Direct premiums written increased each year from 2016 to 2022, with the exception of 2017 which saw a slight decrease from $1,449,000 in 2016 to $1,530,000 in 2017. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $221,000 or 9.8% (from $2,259,000 to $2,480,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $1,413,000 in 2015 and the highest being $2,637,000 in 2022. This was an increase of 86.7% over the period. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, growing by $247,000 or 11.2% (from $2,205,000 to $2,452,000).

Loss Ratios for Ocean Marine

The loss ratio data for Ocean Marine insurance in North Dakota displays notable fluctuations across the years. The loss ratios saw a substantial increase from 40.04% in 2015 to 63.26% in 2016, followed by an extreme spike to 305.14% in 2017. Following 2017, there was a decline in loss ratios, with 119.13% in 2018 and 95.52% in 2019.

However, the loss ratio rose again to 109.38% in 2020, highlighting the variability in this line of business. There was a dramatic improvement observed in 2021, with the loss ratio plummeting to 3.06%. In 2022, the loss ratio settled at 41.51%, a level closer to the initial data in 2015.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $70,602,000 in 2016. The highest was $110,895,000 in 2022.

Direct premiums written increased overall during the period, with the exception of a dip from $88,736,000 in 2015 to $70,602,000 in 2016. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $15,488,000 or 16.2% (from $95,407,000 to $110,895,000). The smallest year-over-year increase was just 0.5% from 2020 to 2021 (from $85,979,000 to $95,407,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $73,870,000 in 2016 and the highest being $103,766,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 12.9% (from $91,880,000 to $103,766,000).

Loss Ratios for Commercial Inland Marine

The data for Inland Marine insurance in North Dakota over the years 2015 to 2022 shows significant fluctuations in loss ratio percentages. The lowest loss ratio was recorded in 2020 at 39.87%, with the highest in 2019 at 95.37%. Notably, there was a substantial increase from 40.81% in 2018 to the peak in 2019, which stands out as an anomaly in the data set.

Following this spike, there was a substantial decrease to the lowest value in 2020. However, the loss ratios then started to rise again, reaching 62.95% in 2022. Meanwhile, the years 2015, 2017, and 2021 show relatively similar loss ratios, all around the mid to high 40s.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $67,000 in 2016. The highest was $3,228,000 in 2021. This represents an over 4,700% increase from the low in 2016 to the high in 2021.

Direct premiums written decreased from $760,000 in 2015 to $67,000 in 2016 before increasing again to $161,000 in 2017. The largest year-over-year increase was between 2020 and 2021, when direct premiums written grew from $275,000 to $3,228,000, an increase of over 1,075%. The smallest year-over-year change was a 15% decrease from $541,000 in 2019 to $473,000 in 2022. For direct premiums earned, the low was $315,000 in 2018 and the high was $1,939,000 in 2015. This represents a more than 500% decrease from 2015 to 2018.

Direct premiums earned fluctuated between years, with increases and decreases each year. The largest year-over-year decrease was between 2015 and 2016, dropping from $1,939,000 to $687,000, a 65% decline. The largest increase was from 2018 to 2019, rising from $315,000 to $383,000, a 22% increase.

Loss Ratios for Commercial Financial Guaranty

The loss ratio data for Financial Guaranty in North Dakota 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 North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $9,424,000 in 2017. The highest amount was $13,869,000 in 2022. This represents an increase of over 47% from the low in 2017 to the high in 2022.

Direct premiums written decreased from $9,754,000 in 2015 to $9,424,000 in 2017. After 2017, direct premiums written increased each year, with the largest year-over-year increase occurring between 2021 and 2022 when direct premiums written grew by $2,285,000 or 18.2% (from $12,584,000 to $13,869,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period. The lowest amount of direct premiums earned was $9,079,000 in 2017 and the highest was $14,106,000 in 2022, representing a 55.4% increase. The largest year-over-year increase in direct premiums earned was between 2021 and 2022 when it grew by $1,457,000 or 11.5% (from $12,649,000 to $14,106,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability data for North Dakota reveals notable variations across the years. The loss ratio soared to an extraordinary 442.12% in 2016, which significantly deviates from the other years, warranting additional analysis. Following this peak, the loss ratio is marked as '*', indicating missing data for 2017. In 2018, the loss ratio decreases significantly to 66.79%.

A drastic decrease was observed in 2019, with the loss ratio dropping to 8.47%, the lowest across the period. However, it rebounded to 59.26% in 2020, a substantial increase. The years 2021 and 2022 show relatively lower and consistent loss ratios of 40.66% and 39.85%, respectively.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $500,000 in 2016, while the highest was $1,090,000 in 2021. This represents an increase of 118% from the low in 2016 to the high in 2021.

Direct premiums written increased overall from 2015 to 2021, going from $989,000 in 2015 up to $1,090,000 in 2021. The only year-over-year decrease was seen from 2015 to 2016, when direct premiums dropped by $489,000 or 49%. The largest year-over-year increase was from 2019 to 2020, when direct premiums grew by $9,000 or 0.9% (from $1,046,000 to $1,055,000).

Direct premiums earned followed a similar pattern, starting at $888,000 in 2015 and reaching $1,121,000 in 2021. The biggest year-over-year jump was from 2020 to 2021, when direct premiums earned increased by $26,000 or 2.4% (from $1,095,000 to $1,121,000).

Loss Ratios for Earthquake

There is a lack of data for earthquake insurance in North Dakota to comment on.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in North Dakota decreased steadily from 2015 to 2022. The highest amount of direct premiums written was $379,669,000 in 2015. This declined each year to a low of $186,854,000 in 2022. This represents a decrease of over 50% over the 8 year period. Similarly, direct premiums earned peaked at $368,217,000 in 2015 before declining annually to $190,228,000 in 2022, a 48% decrease.

The largest single year-over-year decrease for direct premiums written was from 2020 to 2021, when it declined by 17% from $240,801,000 to $199,168,000. The smallest decrease was just 2.8% from 2021 to 2022. For direct premiums earned, the steepest single year decline was 15.5% from 2017 to 2018, falling from $270,090,000 to $269,684,000. The smallest decrease was 1.9% from 2019 to 2020.

Loss Ratios for Workers Compensation

Analysis of the Workers Compensation loss ratio data for North Dakota shows substantial variations over the years. The loss ratio ranged from a low of 45.99% in 2021 to an astronomical high of 115.41% in 2022. A slight increase in loss ratios can be observed from 2015, at 53.5%, to 57.15% in 2017.

However, a modest decrease to 50.66% was noticed in 2018. In 2019, the ratio shot up to 65.92%, followed by a decrease over the next two years, with a low of 45.99% in 2021. However, there was a dramatic rise in the loss ratio to 115.41% in 2022.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $11,532,000 in 2016, decreasing from $14,861,000 in 2015. The highest amount was $16,040,000 in 2022.

Direct premiums written decreased from $14,861,000 in 2015 to $11,532,000 in 2016, before increasing again to $11,987,000 in 2017. There was an overall upward trend from 2017 to 2022, with the exception of a slight dip from $13,676,000 in 2020 to $12,941,000 in 2021. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $4,099,000 or 31.7% (from $12,941,000 to $16,040,000).

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount of $12,428,000 in 2016 and the highest of $15,399,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $2,829,000 or 22.5% (from $12,570,000 to $15,399,000).

Loss Ratios for Product Liability

The Products Liability loss ratio in North Dakota demonstrates considerable fluctuation from 2015 to 2022. In 2015, the loss ratio was at a mere 0.58%, but it underwent a dramatic increase to 101.28% in 2017.

Following 2017, the loss ratio decreased to 68.29% in 2018, only to rise again to 91.99% in 2019 and peak at 138.5% in 2020. Interestingly, there was a significant improvement in 2021, with the loss ratio dropping to 49.48%.

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 North Dakota increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $452,071,000 in 2015. The highest amount was $548,378,000 in 2022. This represents an increase of over 21% over the 8 year period. The direct premiums written increased each year from 2015 to 2022, with the exception of 2020 which saw a slight decrease from $510,770,000 in 2019 to $507,340,000 in 2020.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $31,694,000 or 6.1% (from $516,684,000 to $548,378,000). The smallest year-over-year increase was 1.3%, from $454,376,000 in 2016 to $459,133,000 in 2017. The pattern for direct premiums earned is similar, with steady increases each year except for a slight dip from 2019 to 2020.

The lowest direct premiums earned was $447,331,000 in 2015 and the highest was $535,122,000 in 2022, a growth of 19.6% over the period. The largest year-over-year increase was 6.0% from 2021 to 2022, and the smallest was 1.2% from 2016 to 2017.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in North Dakota shows some interesting trends over the years. In 2015, the loss ratio was 56.68%, which increased to 68.06% in 2016.

However, it dropped to 56.15% in 2017 and hovered around the same figure in 2018 at 57.24%. The year 2019 saw a significant jump to 67.54%, only for it to plunge to 44.75% in 2020. The subsequent years, 2021 and 2022, experienced a sharp increase to 68.61% and 72.71%, respectively.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $149,435,000 in 2016. The highest amount was $197,563,000 in 2022. This represents an increase of over 32% from the lowest to the highest year.

Direct premiums written decreased from $165,103,000 in 2015 to $149,435,000 in 2016, a 9.4% decrease. After 2016, direct premiums written increased each year through 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $18,304,000 or 10.1% (from $181,259,000 to $197,563,000). The trends for direct premiums earned are similar, starting at $169,004,000 in 2015, dropping to $155,536,000 in 2016, and then increasing each year through 2022 to end at $190,007,000.

The largest year-over-year increase was also from 2021 to 2022, when direct premiums earned grew by $10,578,000 or 5.9% (from $178,429,000 to $190,007,000).

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for North Dakota displays interesting patterns and fluctuations over the years. From 2015 to 2018, there is a general downward trend in loss ratios, with a decrease from 54.37% in 2015 to 52.32% in 2018.

However, this trend is interrupted by a slight increase in 2019, where the loss ratio reaches 55.12%. Following 2019, the loss ratio declines again in 2020 and 2021, with values of 51.17% and 47.77%, respectively. In 2022, the loss ratio experiences a moderate increase to 51.6%. Throughout the given period, the loss ratios remain within a relatively narrow range of 47.77% to 55.78%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $6,089,000 in 2018, while the highest was $13,982,000 in 2022. Direct premiums written increased overall during the period, with the largest year-over-year increase occurring between 2019 and 2020 when it grew by $3,383,000 or 34.8% (from $9,706,000 to $11,089,000).

Direct premiums earned followed a similar trend, ranging from a low of $7,041,000 in 2017 to a high of $12,608,000 in 2022. The largest year-over-year increase in direct premiums earned was between 2020 and 2021, when it grew by $1,583,000 or 15.1% (from $10,458,000 to $12,041,000).

Loss Ratios for Aircraft

The Aircraft line of business in North Dakota demonstrates notable fluctuations in loss ratios over the years. The loss ratio initially showed a moderate percentage of 47.89% in 2016, followed by a slight decrease to 43.63% in 2017.

However, a significant spike occurred in 2018, with the loss ratio surging to 83.12%, marking the highest point in the period under review. This peak was followed by a decline to 66.45% in 2019, and a more drastic reduction to 39.99% in 2020. The loss ratios in 2021 and 2022 present relatively stable figures, with 40.51% and 17.73% respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2,800,000 in 2017. The highest amount was $3,373,000 in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of decreases in 2017 and 2020. Direct premiums earned followed a similar pattern, with the lowest amount being $2,944,000 in 2019 and the highest being $3,283,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $467,000 or 15.2% (from $3,063,000 to $3,373,000). The smallest year-over-year increase was just 1.6%, from $3,200,000 in 2016 to $3,250,000 in 2017.

Loss Ratios for Fidelity

Analyzing the loss ratio data for Fidelity in North Dakota presents interesting observations over the years. In 2016, the loss ratio was 3.99%, which slightly increased to 8.51% in 2017. A dramatic jump is evident in 2018, with the loss ratio soaring to 26.6%.

However, this trend reversed in 2019, dropping sharply to a mere 2.48%. An exceptional spike was witnessed in 2020, where the loss ratio skyrocketed to 57.79%, the highest in this period. The ratio fell drastically again to 3.89% in 2021, and moderately increased to 17.78% in 2022.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $18,631,000 in 2019, while the highest was $31,817,000 in 2022. This represents an increase of over 70% from the low in 2019 to the high in 2022.

Direct premiums written decreased each year from 2015 to 2017, going from $28,262,000 in 2015 down to $19,355,000 in 2017. This was a drop of 31.5% over the 2 year period. After hitting the low in 2017, direct premiums written then increased each year from 2018 to 2022. The biggest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $10,980,000 or 50.2% (from $21,837,000 to $31,817,000).

The direct premiums earned follow a similar pattern to the direct premiums written, but lag one year behind. The lowest direct premiums earned was $19,532,000 in 2019 and the highest was $29,073,000 in 2022. This represents a 49% increase from 2019 to 2022. The biggest year-over-year increase for direct premiums earned was from 2020 to 2021, when it grew by $4,912,000 or 24% (from $20,484,000 to $22,356,000).

Loss Ratios for Surety

The loss ratio data for Surety in North Dakota exhibits significant variability across the years. In 2015, the loss ratio was relatively low at 9.85%, but it increased sharply to 21.37% in 2016. The loss ratio then dipped to 11.31% in 2017 and further down to 7.67% in 2018.

While the data for 2019 is unavailable, a substantial drop is observed in 2020, with the loss ratio hitting a low of 4.45%. However, the years 2021 and 2022 witnessed a drastic increase, with the loss ratios jumping to 38.02% and 38.36%, respectively.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in North Dakota fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $371,000 in 2018, while the highest was $1,235,000 in both 2016 and 2021.

Direct premiums written decreased from $1,199,000 in 2015 to $371,000 in 2018, representing a 69% drop over that period. However, direct premiums written then rebounded to $1,114,000 in 2022. For direct premiums earned, the lowest amount was $660,000 in 2020 and the highest was $835,000 in 2022. There was a general downward trend in direct premiums earned from 2015 ($781,000) to 2020 ($660,000), before an increase to $835,000 in 2022.

The largest year-over-year decrease in direct premiums written was from 2016 to 2017, when it declined by $733,000 or 59.4% (from $1,235,000 to $502,000). The largest increase was from 2018 to 2019, when direct premiums written grew by $325,000 or 87.6% (from $371,000 to $696,000).

Loss Ratios for Warranty

The Warranty loss ratio data for North Dakota displays a volatile pattern over the observed period. The loss ratio fluctuated in the early years, with 52.37% in 2015, 46.58% in 2016, 55.73% in 2017, and 53.34% in 2018.

However, the most striking development was a drastic surge to 163.96% in 2019, an anomaly that considerably exceeds any preceding figures. Following this unusual spike, the loss ratio observed a relative decrease to 72.55% in 2020, though still considerably higher than pre-2019 levels. The years 2021 and 2022 showed a steady climb, with loss ratios of 80.55% and 89.69% respectively.