Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Ohio generally increased from 2015 to 2022.

The lowest amount of direct premiums written was $351,617,000 in 2017, while the highest was $551,747,000 in 2022. This represents an overall increase of 57% over the 8 year period. 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 $67,200,000 or 13.9% (from $484,552,000 to $551,747,000). The smallest increase was just 1.4%, from $382,665,000 in 2015 to $388,042,000 in 2016.

For direct premiums earned, the lowest amount was also in 2017 at $351,126,000, while the highest was $511,464,000 in 2022. This was a 46% increase over the period. As with direct premiums written, direct premiums earned increased each year from 2017 to 2022. The biggest jump was 13.5% from 2020 to 2021 (from $423,762,000 to $458,735,000) and the smallest was 1.8% from 2018 to 2019.

Loss Ratios for Fire

The loss ratio data for the Fire line of business in Ohio demonstrates notable fluctuations and trends throughout the years 2015 to 2022. In 2015, the loss ratio stands at 40.49%, followed by a significant decrease to 24.71% in 2016. However, a sharp increase is observed in 2017, reaching a peak of 75.25%, the highest among the specified years.

Following this peak, a considerable decline occurs in 2018, with the loss ratio dropping to 34.94%. From 2019 onwards, a more stable pattern emerges, with loss ratios hovering around the 50-60% range: 54.52% in 2019, 56.49% in 2020, and 52.64% in 2021. Nonetheless, 2022 shows an upward trend, with the loss ratio rising to 69.48%, though not reaching the high of 2017.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and earned for allied lines insurance in Ohio increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $240,699,000 in 2015. This increased each year, with the exception of a slight dip from $226,962,000 in 2016 to $225,076,000 in 2017. The highest direct premiums written was $420,180,000 in 2022, representing an increase of 74% from 2015.

Similarly, direct premiums earned started at $243,380,000 in 2015 and increased each year to $392,856,000 in 2022, a gain of 61% over the period. The largest year-over-year increase in direct premiums written was from 2021 to 2022 at 12.5% (from $373,590,000 to $420,180,000). The smallest was the 0.8% decrease from 2016 to 2017.

For direct premiums earned, the biggest jump was 15.7% from 2019 to 2020 (from $269,078,000 to $312,204,000) while the smallest was 0.3% from 2016 to 2017.

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Ohio displays notable variations and trends across the years.

In 2015 and 2016, the loss ratios were relatively stable at 43.22% and 31.41%, respectively. However, a significant increase occurred in 2017, reaching 74.57%. This sharp rise may indicate changes in the claims environment or underwriting practices during that period.

In 2018, the loss ratio dropped to 51.75%, but the most striking figure appeared in 2019, with a loss ratio of 111.17%, potentially highlighting a challenging year for insurers in this line of business. Following 2019, the loss ratio improved in 2020 and 2021, reaching 54.25% and 41.49%, respectively.

These figures suggest that insurers might have implemented effective risk management or underwriting strategies to address previous challenges. However, in 2022, the loss ratio increased again to 95.56%, indicating a resurgence of factors contributing to higher claims or costs.

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 Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $226,556,000 in 2016. This was a decrease of 9.4% from $250,088,000 in 2015. The highest amount was $470,604,000 in 2022, more than double the amount in 2016.

Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $217,800,000 in 2016 and the highest was $463,458,000 in 2022. Both direct premiums written and direct premiums earned increased sharply in 2021 and 2022 compared to prior years.

From 2020 to 2021, direct premiums written grew by 57.9% (from $236,857,000 to $374,058,000) while direct premiums earned grew by 56.5% (from $233,709,000 to $366,125,000). From 2021 to 2022, direct premiums written increased by 25.8% and direct premiums earned increased by 26.5%.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratios in Ohio show intriguing dynamics over the years 2015 to 2022. The data ranges from a low of 20.22% in 2022 to a staggering high of 201.64% in 2019. This dramatic spike in 2019, well above any other year, prompts questions about potential factors causing this exceptional increase.

However, the loss ratio considerably improved in subsequent years, dropping to 53.2% in 2020 and continuing to decrease to 22.41% in 2021 and 20.22% in 2022, suggesting effective risk management practices were implemented after 2019. Before 2019, the data displays a decreasing trend from 75.37% in 2015 to 21.9% in 2018. This decreasing pattern was abruptly interrupted in 2019, only to resume in the following years.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Ohio decreased overall from 2015 to 2022. The highest amount of direct premiums written was $26,795,000 in 2015. This decreased to $19,504,000 in 2022, representing a 27% drop over the 8 year period.

Direct premiums written decreased each year from 2015 to 2019, with the exception of 2019 which saw a slight increase from $25,382,000 in 2018 to $25,610,000 in 2019. The largest year-over-year decrease was from 2021 to 2022, when direct premiums written declined by $5,731,000 or 22.7% (from $25,235,000 to $19,504,000).

Direct premiums earned followed a similar pattern to direct premiums written, starting at $27,193,000 in 2015 and ending at $21,876,000 in 2022. The biggest year-over-year decrease for direct premiums earned was also from 2021 to 2022, dropping by $3,486,000 or 13.7% (from $25,362,000 to $21,876,000).

Loss Ratios for Federal Flood

Looking at the Federal Flood loss ratio data for Ohio, there's a clear oscillation in percentages over the specified years. In 2015, the loss ratio was relatively high at 19.36%, which then sharply declined to 2.68% in 2016. However, the ratio rebounded to 18.33% in 2017 before escalating further in 2018 and 2019 to 28.3% and 28.43%, respectively.

These years represent the peak loss ratio percentages within the period under review. The year 2020 saw the highest loss ratio for Federal Flood in Ohio at 36.42%. This indicates an increase in claims during this year compared to the premiums earned. Conversely, there was a drastic drop in 2021 and 2022 to 8.6% and 7.33%, respectively.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $14,217,000 in 2015.

This increased to $18,136,000 in 2016, a 27.6% increase from the previous year. Direct premiums written continued to rise in 2017 to $19,001,000 before peaking at $23,058,000 in 2020, representing a 62.2% increase from 2015. Direct premiums earned followed a similar trajectory, starting at $14,162,000 in 2015 and reaching a high of $23,075,000 in 2020, a 63.0% increase. The largest year-over-year growth for direct premiums earned was from 2017 to 2018, increasing by $3,461,000 or 18.2% (from $19,044,000 to $20,905,000). After peaking in 2020, both direct premiums written and earned decreased in 2021 and 2022.

Direct premiums written dropped 16.8% to $19,631,000 in 2021, while direct premiums earned fell 16.3% to $19,315,000. This indicates a pullback in private crop insurance premiums in Ohio in the most recent years.

However, premiums in 2022 remained well above 2015 levels, suggesting a longer-term upward trend despite the recent decreases.

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Ohio shows considerable variability over the years. The loss ratio was modest at 18.9% in 2015, but nearly doubled to 43.99% in 2016. A notable spike occurred in 2017, with the ratio catapulting to 88.94%, the highest in the given period.

This was followed by a significant dip to 52.3% in 2018. However, the following years, 2019 and 2020, experienced unprecedented increases, with loss ratios soaring to 114.15% and 116.93% respectively. These years were outliers in the dataset. In contrast, the data from 2021 and 2022 shows a substantial reduction in the loss ratio to 58.81% and 57.55% respectively.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Ohio increased substantially from 2016 to 2022. The lowest amount of direct premiums written was $5,628,000 in 2016. This steadily increased each year, with the highest amount being $25,336,000 in 2022.

This represents an over 450% increase in direct premiums written over the 7 year period. Direct premiums earned follow a similar trend, starting at $3,221,000 in 2016 and reaching $25,494,000 in 2022. This is an increase of over 790% in direct premiums earned. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $6,822,000 or 40.7% (from $16,777,000 to $23,599,000).

The smallest increase was just 2.5% from 2021 to 2022. For direct premiums earned, the biggest jump was from 2016 to 2017, increasing by $7,750,000 or 240.5% (from $3,221,000 to $10,971,000). The smallest increase was only 1.6% from 2021 to 2022.

Loss Ratios for Private Flood

Examining the loss ratio data for Private Flood insurance in Ohio provides insight into the trends over a six-year period. The loss ratios exhibit considerable variability, with a low of 6.07% in 2020 and a striking high of 74.76% in 2019. This dramatic increase in 2019 significantly deviates from the pattern and might suggest an extraordinary event or change in underwriting practice.

Post-2019, loss ratios dropped significantly to 6.07%, lower than the pre-2019 baseline, indicating a possible improvement in risk management strategies. Moving forward, the loss ratios for 2021 and 2022 show slight increases to 9.16% and 10.6% respectively, suggesting a potential gradual upward trend. However, these figures still remain significantly lower than 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 Ohio increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $163,692,000 in 2015. The highest amount was $199,043,000 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. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $10,737,000 or 5.7% (from $189,306,000 to $199,043,000).

The smallest year-over-year increase was 2.5%, from $180,033,000 in 2019 to $182,783,000 in 2020. The direct premiums earned followed a similar pattern, with the lowest amount being $160,731,000 in 2015 and the highest being $191,877,000 in 2022. This was an increase of over 19% over the period.

As with direct premiums written, direct premiums earned increased each year. The largest year-over-year increase was 5.5% between 2021 and 2022 (from $185,850,000 to $191,877,000) and the smallest was 2.3% between 2018 and 2019.

Loss Ratios for Farmowners Multiple Peril

The loss ratio percentage for Farmowners Multiple Peril in Ohio exhibits notable variations over the observed period. The data shows a progressive increase from 34.96% in 2015 to 50.53% in 2017. A slight dip is observed in 2018 with a loss ratio percentage of 48.18%, which again declines to 43.65% in 2019.

However, the loss ratio percentage begins to rise again from 45.97% in 2020 to 45.23% in 2021. The most striking change is the leap to 71.83% in 2022, a significant increase from previous years. The overall data trend indicates a general increase in loss ratios.

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 Ohio increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $2,785,059,000 in 2015. The highest was $3,680,815,000 in 2022. This represents an increase of over 32% over the 8 year period. Direct premiums written increased each year from 2015 to 2022. In 2021 to 2022, the figures jumped from $3,379,070,000 to $3,680,815,000.

The smallest year-over-year increase was 2.9%, from $2,970,685,000 in 2018 to $3,052,963,000 in 2019. The trends for direct premiums earned are similar. The lowest amount was $2,732,794,000 in 2015 and the highest was $3,519,945,000 in 2022, an increase of over 28% in the 8 years.

As with direct premiums written, direct premiums earned increased each year from 2015 to 2022. The largest year-over-year increase was 31.7% from 2021 to 2022 (from $3,248,959,000 to $3,519,945,000) and the smallest was 2.8% from 2018 to 2019.

Loss Ratios for Homeowners Multiple Peril

The loss ratio percentage for Homeowners Multiple Peril in Ohio demonstrates notable changes over the years. The data showed a modest decrease from 42.76% in 2015 to 39.45% in 2016, followed by an increase to 48.66% in 2017. A slight drop to 45.77% in 2018 was then overshadowed by a sharp rise to 68.22%

In 2019, a significant increase compared to previous years. The elevated loss ratio remained high in 2020 at 65.45%, before falling to 53.28% in 2021. However, this relief was short-lived, as 2022 recorded the highest loss ratio of the period at 73.91%.

Direct and Earned Premiums for Commercial Multiple Peril

The data shows that direct premiums written and earned for commercial multiple peril insurance in Ohio increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $126,565,300 in 2015. This increased each year, reaching a high of $161,781,200 in 2022 - an overall increase of 27.8% over the 8 year period.

Direct premiums earned followed a similar trajectory, starting at $125,070,900 in 2015 and ending at $156,586,700 in 2022, a 25.2% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $7,395,400 or 6.3% (from $142,826,900 to $152,262,300).

The smallest increase was 2.2% between 2016 and 2017, from $124,690,300 to $127,249,800. For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $8,857,700 or 6.4% (from $139,252,300 to $147,983,000). The smallest increase was 1.9% from 2018 to 2019 ($128,246,500 to $132,836,700).

Loss Ratios for Commercial Multiple Peril

The loss ratio data for Commercial Multiple Peril insurance in Ohio presents some notable patterns over the years. Loss ratios remained relatively stable between 2015 and 2018, with values ranging from 37.35% in 2016 to 40.73% in 2015, and a slight increase to 39.0% in 2018.

However, a dramatic increase occurred in 2019, with the loss ratio reaching a peak of 74.76%. In response to the 2019 spike, the loss ratio dropped significantly to 50.39% in 2020. The loss ratio continued to decrease in 2021, settling at 42.8%. However, the data shows an upward shift in 2022, with the loss ratio climbing to 62.0%.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $160172000 in 2017, while the highest was $185740000 in 2020.

Direct premiums written increased steadily from 2017 to 2020, before declining in 2021 and 2022. Direct premiums earned followed a similar pattern, with the lowest amount being $151562000 in 2015 and the highest being $201710000 in 2020.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $14362000 or 8.0% (from $179138000 to $185740000). The largest year-over-year increase for direct premiums earned was also from 2019 to 2020, growing by $10509000 or 5.5% (from $191201000 to $201710000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Ohio exhibits significant variability from 2015 to 2022. Loss ratios initially decreased from 31.23% in 2015 to a notable low of 4.04% in 2018.

However, an unexpected spike to 23.62% occurred in 2020. This peak was short-lived, as the loss ratio dramatically dropped to 2.81% in 2021 - the lowest in the seven-year span.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Ohio fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $49,732,000 in 2017. The highest was $80,318,000 in 2022. This represents an increase of over 60% from the low in 2017 to the high in 2022. 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 $11,920,000 or 17.4% (from $68,398,000 to $80,318,000). The smallest year-over-year increase was 2.9%, from $54,103,000 in 2018 to $55,594,000 in 2019. Direct premiums earned followed a similar pattern to direct premiums written, with the low of $51,082,000 occurring in 2017 and the high of $75,824,000 in 2022.

This was an increase of over 48% between those years. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 12.1% (from $67,732,000 to $75,824,000). The smallest increase was 1.3% between 2015 and 2016.

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data for Ohio demonstrates several noteworthy patterns and shifts throughout the years. Between 2015 and 2016, there was a considerable increase in loss ratios, rising from 68.62% to 80.51%. However, 2017 lacks available data, making it difficult to determine if this trend continued or reversed during that year.

In 2018, the loss ratio dropped significantly to 42.57%, marking a considerable improvement compared to the previous recorded year. Following this decrease, the loss ratios climbed back up, reaching 69.4% in 2019 and 69.88% in 2020. From 2021 to 2022, the loss ratios exhibit a modest downward trend, with values of 67.6% and 65.18%, respectively.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Ohio increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $53,984,000 in 2015. The highest amount was $905,370,000 in 2022. This represents an increase of over 67% 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 $103,417,000 or 14.8% (from $699,190,000 to $802,607,000).

The smallest year-over-year increase was 9.1%, from $638,951,000 in 2017 to $667,864,000 in 2018. 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 $543,098,000 in 2015 and the highest was $864,699,000 in 2022, a 59% increase.

The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $75,123,000 or 10.9% (from $692,261,000 to $767,384,000).

Loss Ratios for Commercial Inland Marine

The loss ratio data for Inland Marine insurance in Ohio shows various trends over the years. A significant surge is evident in 2016, where the loss ratio rocketed to 74.25%. This suggests a year of high claims, which notably exceeds the surrounding years.

Following this peak, a sharp decline occurs in 2017 and 2018, with the loss ratios dropping to 39.8% and 37.44% respectively. In the subsequent years, the loss ratios show a slight upward movement, reaching 50.16% in 2020, but with no year matching the high of 2016. The years 2021 and 2022 display a mild decrease, with loss ratios of 47.0% and 43.06%.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,674,000 in 2017, while the highest was $25,517,000 in 2018. This represents an over 1400% increase from 2017 to 2018.

Direct premiums written decreased from $3,708,000 in 2015 to $1,674,000 in 2017, before spiking to $25,517,000 in 2018. After 2018, direct premiums written fell again to $4,492,000 in 2019 and $2,513,000 in 2020, before rising to $13,175,000 in 2021 and falling slightly to $2,305,000 in 2022.

For direct premiums earned, the lowest amount was $5,344,000 in 2022, while the highest was $21,097,000 in 2015. This represents a nearly 75% decrease over the period. Direct premiums earned followed a general downward trend from 2015 to 2022, with the exception of 2020 which saw an increase to $8,723,000 from $7,466,000 in 2019.

The largest year-over-year increase for direct premiums written was from 2017 to 2018, when it grew by $23,843,000 or over 1400%. The largest year-over-year decrease was from 2018 to 2019, when direct premiums written fell by $21,025,000 or over 80%.

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio data for Ohio presents some interesting patterns from 2015 to 2022. For the most part, the loss ratio has remained at 0.0%, suggesting minimal to no loss against the premiums earned for these years.

However, in 2019, the loss ratio data is marked as '*', indicating lack of data for that year. A significant change is observed in 2022 when the loss ratio rises to 3.04%, marking the first recorded loss in seven years.

Direct and Earned Premiums for Medical Professional Liability

The data shows that direct premiums written and direct premiums earned for medical professional liability insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $220,631,000 in 2018, while the highest was $265,015,000 in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of a dip in 2016 and 2017 compared to 2015. The direct premiums earned follow a similar pattern to direct premiums written. The lowest direct premiums earned was $225,157,000 in 2018 and the highest was $263,145,000 in 2022.

There is a steady increase in direct premiums earned from 2018 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $19,016,000 or 7.2% (from $264,999,000 to $265,015,000). The smallest year-over-year increase was just 0.1% from 2021 to 2022.

Loss Ratios for Medical Professional Liability

The loss ratio data for Medical Professional Liability in Ohio over the years demonstrates noteworthy contrasts and trends. In 2015, the loss ratio was relatively low at 10.62%, but it significantly increased to 36.46% in 2016. An exceptional decrease to 2.45% was observed in 2017, followed by a drastic increase to 42.34% in 2018.

The years 2019 and 2020 showed a comparable loss ratio of 24.24% and 22.92%, respectively. However, a mild increase to 27.61% was recorded in 2021. The year 2022, with a loss ratio of 50.5%, became the year with the highest loss ratio after 2018.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and earned for earthquake insurance in Ohio increased overall from 2015 to 2022. The lowest amount of direct premiums written was $26,884,000 in 2016. The highest was $40,693,000 in 2022. This represents an increase of over 50% over the 8 year period.

Direct premiums written increased each year from 2016 to 2022, with the exception of 2020 which saw a slight decrease from $36,051,000 in 2019 to $35,318,000 in 2020. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $10,363,000 or 26.1% (from $39,630,000 to $40,693,000).

Direct premiums earned followed a similar trend, with the lowest amount being $28,384,000 in 2017 and the highest being $39,106,000 in 2022. This was an increase of about 38% over the period. The largest year-over-year increase in direct premiums earned was from 2018 to 2019, growing by $6,460,000 or 20.0% (from $32,307,000 to $35,767,000).

Loss Ratios for Earthquake

Examining the loss ratio data for Earthquake insurance in Ohio over eight years reveals diverse patterns. The loss ratios have experienced fluctuations, with specific data for the years 2015, 2019, and 2021 not available. In 2016, the loss ratio was remarkably low at 0.04%, which then saw a substantial increase to 2.19% in 2017.

However, the following year, 2018, registered a decrease to 1.13%. Interestingly, the ratio rose again in 2020 to 1.71%, followed by an unknown figure in 2021. The most recent data for 2022 demonstrates the highest recorded loss ratio at 3.49%.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Ohio decreased overall from 2015 to 2022. The highest amount of direct premiums written was $2,018,257,000 in 2015. This decreased to $1,286,908,000 in 2022, representing an overall drop of 36%.

Direct premiums earned followed a similar trend, with the highest amount being $2,016,169,000 in 2015 and the lowest being $1,286,984,000 in 2022, a 36% decrease. The largest single year-over-year decrease for direct premiums written was from 2016 to 2017, when it fell from $1,725,129,000 to $1,594,962,000, a drop of 7.5%. The smallest decrease was 1.5% from $1,218,779,000 in 2021 to $1,286,908,000 in 2022.

For direct premiums earned, the largest single year drop was also from 2016 to 2017, falling from $1,477,348,000 to $1,590,901,000, a decrease of 7.6%. The smallest decrease was 0.1% from $1,218,830,000 in 2021 to $1,286,984,000 in 2022.

Loss Ratios for Workers Compensation

The loss ratio data for Workers Compensation in Ohio presents several noteworthy patterns and fluctuations across the years. The loss ratios show substantial inconsistency, with the lowest recorded at 28.08% in 2021 and the highest soaring to 85.48% in 2022.

The year 2019, however, demonstrated a remarkable drop to 28.37%, indicating a successful year for risk management or underwriting practices. In the subsequent year, 2020, there was a significant rise to 66.15%, implying a potential increase in claims. This rapid upswing underscores the need for further exploration into the variables impacting this drastic change.

The most recent years, 2021 and 2022, display contrasting loss ratios; 28.08% and 85.48%, respectively, indicating considerable volatility in the claims environment or possibly inconsistent underwriting strategies.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $103,156,000 in 2017, while the highest was $147,940,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the exception of a slight decrease from $117,309,000 in 2019 to $128,835,000 in 2020. The largest year-over-year increase in direct premiums written was 18.2%, from $129,283,000 in 2021 to $147,940,000 in 2022. Similarly, direct premiums earned were lowest at $105,427,000 in 2017 and highest at $140,352,000 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 slight decrease from $115,016,000 in 2019 to $122,711,000 in 2020. The biggest year-over-year jump in direct premiums earned was 15.4%, from $128,675,000 in 2021 to $140,352,000 in 2022.

Loss Ratios for Product Liability

The Products Liability loss ratio data for Ohio shows intriguing variation over the years. In 2015, the loss ratio was 64.07%, which dropped considerably to 34.49% in 2016.

However, the loss ratio saw a considerable increase to 57.77% in 2017, and further spiked to a high of 77.81% in 2018. Though the loss ratio dipped to 52.17% in 2019, it surged again to 75.88% in 2020. Intriguingly, the following years, 2021 and 2022, showed a significant decrease to 47.31% and 31.35% respectively.

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 Ohio increased overall from 2015 to 2022, with some fluctuations. The lowest amount of direct premiums written was $5,994,227,000 in 2015. This increased each year until 2020, when it dropped to $6,858,519,000. The highest direct premiums written was $7,332,426,000 in 2022. This represents an overall increase of 22.4% from 2015 to 2022.

Direct premiums earned followed a similar pattern, with the lowest amount being $5,894,641,000 in 2015 and the highest being $7,145,796,000 in 2022. This was a 21.3% increase over the period. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew by $1,542,526,000 or 10.8%. The smallest year-over-year increase was 1.4%, from $6,975,524,000 in 2018 to $7,036,396,000 in 2019.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Ohio presents noteworthy trends and fluctuations from 2015 to 2022. The loss ratios experienced moderate volatility, starting at 61.84% in 2015 and gradually increasing to 63.01% in 2016. A mild decrease occurred in 2017 with a loss ratio of 60.75%, followed by a more substantial decline to 57.3% in 2018.

In 2019, the loss ratio rose slightly to 59.05%, but then significantly dropped to 52.14% in 2020. However, subsequent years 2021 and 2022 showcased a sharp increase in loss ratios, at 64.05% and 75.87%, respectively. The marked increase in 2022, in particular, stands out as an exceptional deviation.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in Ohio increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $896,031,000 in 2015. This increased each year, with the highest amount being $1,655,517,000 in 2022.

This represents an overall increase of 85% over the 8 year period. Similarly, direct premiums earned grew from $873,189,000 in 2015 to $1,603,511,000 in 2022, an 84% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $208,348,000 or 16%.

The smallest increase was 6% between 2015 and 2016. For direct premiums earned, the biggest jump was also between 2020 and 2021 at 16%, while the smallest was between 2016 and 2017 at 6%.

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for Ohio shows some interesting trends over the years. The loss ratios experienced a slight increase from 59.95% in 2015 to a peak of 61.31% in 2016. This was followed by a drop to 56.22% in 2017.

The ratios then remained relatively stable, hovering around 58.97% and 58.8% in 2018 and 2019, respectively. A significant dip was observed in 2020, with the loss ratio falling to 47.29%. Post 2020, the loss ratios show an upward trend, with 52.5% in 2021 and a considerable jump to 59.69% in 2022.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $53,236,000 in 2016. The highest was $100,574,000 in 2022. This represents an increase of 89% 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 $53,236,000 in 2016 to $53,995,000 in 2017. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $17,424,000 or 21% (from $83,150,000 to $100,574,000).

Direct premiums earned generally followed a similar pattern to direct premiums written over the period, with the lowest amount being $53,475,000 in 2016 and the highest being $96,618,000 in 2022. This was an increase of 81% over the period. The difference between direct premiums written and direct premiums earned narrowed over time. In 2015, direct premiums earned were $558,45,000 compared to $552,26,000 written, a difference of $6,381,000.

By 2022, premiums earned were $96,618,000 versus $100,574,000 written, a gap of just $3,956,000.

Loss Ratios for Aircraft

The loss ratio data for Aircraft line of business in Ohio shows interesting shifts over the years. It varied from a low of 22.61% in 2021 to a peak of 55.21% in 2016. The remarkable increase in 2016 might be due to factors that require further exploration.

A significant decline was seen in 2018 with a loss ratio of 31.84%. However, the loss ratio rose again in 2019 to 52.56%, only to descend to 36.12% in 2020. The most recent years, 2021 and 2022, have the lowest figures with 22.61% and 27.51%. The overall trend seems to be a decrease from 2016 to 2021, with a slight increase in 2022.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and earned for fidelity insurance in Ohio fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $396,72,000 in 2019. The highest was $437,99,000 in 2022.

Direct premiums earned followed a similar pattern, with the lowest being $397,03,000 in 2020 and the highest being $437,70,000 in 2022. Looking more closely, direct premiums written decreased from $414,84,000 in 2015 to $408,49,000 in 2017. There was then a slight increase in 2018 to $403,91,000 before dropping again in 2019.

From 2020 to 2022, direct premiums written increased each year from $405,43,000 to the peak of $437,99,000. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $15,49,000 or 10.8% (from $421,09,000 to $437,99,000). The smallest increase was just 1.3% from 2018 to 2019 ($403,91,000 to $396,72,000).

The trends for direct premiums earned are very similar, though the amounts are slightly different each year. The largest increase was 10.5% from 2021 to 2022, while the smallest was 0.3% from 2019 to 2020.

Loss Ratios for Fidelity

The Fidelity loss ratio data for Ohio presents a fascinating pattern across the years. A peak is observed in 2016 with a substantial loss ratio of 65.28%, followed by a decline to 14.87% in 2018. The ratio then rises to 43.13% in 2019, after which it gradually drops to 26.4% by 2021. The subsequent slight increase to 27.72% in 2022 suggests a potential stabilization in the loss ratio.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in Ohio increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $138,829,000 in 2015. The highest was $183,090,000 in 2022. This represents an increase of over 32% over the 8 year period.

The 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 $16,431,000 or 9.6% (from $171,659,000 to $183,090,000). The smallest year-over-year increase was 1.6%, from $145,998,000 in 2018 to $148,535,000 in 2019. 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 $134,506,000 in 2015 and the highest was $169,355,000 in 2022. This represents a 26% increase over the period. As with direct premiums written, the largest year-over-year increase in direct premiums earned was between 2021 and 2022 at 9.6% (from $161,819,000 to $169,355,000). The smallest was a 0.5% increase between 2018 and 2019.

Loss Ratios for Surety

The loss ratio data for Surety in Ohio presents interesting patterns. The loss ratios show substantial variability, with a low of 2.17% in 2022 and a high of 29.9% in 2018. The considerable spike in 2018 is remarkable and merits further study to understand the factors causing this increase.

The subsequent years show a decrease to 15.82% in 2019 and a further drop to 7.01% in 2020, indicating a positive downward trend. However, this is reversed in 2021, as the loss ratio climbs to 15.27%, hinting at fluctuations in claims or underwriting strategies. In 2022, the loss ratio dramatically drops to 2.17%, its lowest level over the observed years.

Direct and Earned Premiums for Warranty

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

The lowest amount of direct premiums written was $42,535,000 in 2017. The highest amount was $100,556,000 in 2021. This represents an increase of over 136% from the low point in 2017 to the high point in 2021. Direct premiums written increased each year from 2015 to 2016, decreased from 2016 to 2017, then increased steadily from 2017 to the peak in 2021, before decreasing in 2022.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $22,327,000 or 28.6% (from $78,229,000 to $100,556,000). Direct premiums earned followed a similar pattern, but lagged behind direct premiums written, as expected.

The lowest direct premiums earned was $35,428,000 in 2015 and the highest was $78,643,000 in 2022. This represents an increase of 122% from 2015 to 2022. The largest year-over-year increase in direct premiums earned was from 2020 to 2021, when it grew by $12,353,000 or 18.3% (from $67,430,000 to $68,683,000).

Loss Ratios for Warranty

The Loss Ratio Percentage for Warranty in Ohio displayed moderate fluctuations across the years. The lowest ratio was in 2017 at 43.71%, while the highest was in 2022 at 59.38%. There appears to be a slight upward trend from 2015 to 2022, despite a dip in 2017.

A significant leap is seen from 2017 to 2018, with an increase from 43.71% to 57.4%. From 2018 to 2022, the loss ratio percentages remain fairly stable, hovering around the mid to high 50s range.