Market Trends

Direct and Earned Premiums for Fire

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

The lowest amount of direct premiums written was $244,852,000 in 2015. The highest was $411,460,000 in 2022, representing an increase of over 68% during the 8 year period. Direct premiums earned followed a similar upward trend, growing from $250,847,000 in 2015 to $384,831,000 in 2022, an increase of over 53%.

Both direct premiums written and earned increased each year from 2015 to 2022, with the exception of 2016 which saw a slight decrease in direct premiums earned from $250,847,000 in 2015 to $244,136,000 in 2016. The largest year-over-year increase for direct premiums written was from 2021 to 2022, when it grew by $53,109,000 or 14.8% (from $358,351,000 to $411,460,000). The smallest increase was just 2.6%, from $238,565,000 in 2017 to $244,852,000 in 2018.

For direct premiums earned, the biggest jump was also from 2021 to 2022 at 13.7% (from $338,546,000 to $384,831,000). The smallest increase was 0.02% from $238,555,000 in 2017 to $238,565,000 in 2018.

Loss Ratios for Fire

The loss ratio data for Fire insurance in Tennessee shows interesting trends and fluctuations over the years. Particularly, the loss ratios demonstrated a high degree of variability, with the lowest figure recorded in 2018 at 40.43%, while peaking at an unprecedented 163.01% in 2016.

There was a marked decrease in loss ratios from the spike in 2016 to 40.43% in 2018. However, a steady increase was observed from 2018 to 2021, with loss ratios rising to 107.97%. The year 2022 saw a decrease, with the loss ratio settling at 66.01%.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for Allied Lines insurance in Tennessee increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $181,959,000 in 2015. This increased each year, with the exception of 2017 which saw a slight decrease to $178,769,000 from $187,716,000 in 2016. The highest direct premiums written was $367,916,000 in 2022, representing over a 100% increase from 2015.

Similarly, direct premiums earned followed the same overall increasing trend. The lowest amount was $181,246,000 in 2015 and the highest was $336,586,000 in 2022, an increase of over 85%. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $37,699,000 or 15.5% (from $242,852,000 to $279,651,000).

The smallest increase was 2.1% from $187,716,000 in 2016 to $190,909,000 in 2018. For direct premiums earned, the largest jump was also from 2019 to 2020, increasing by $35,572,000 or 15.4% (from $230,101,000 to $261,573,000). The smallest increase was 0.6% from $181,246,000 in 2015 to $182,478,000 in 2017

Loss Ratios for Allied Lines

The Allied Lines loss ratio percentages in Tennessee present distinct oscillations over the observed period. Starting at 100.48% in 2015, the ratio dropped to 75.54% in 2016.

A significant surge occurred in 2017, reaching an extraordinary 354.94%, the highest value in the data set. This was followed by a dramatic decrease to 5.75% in 2018, the lowest point during these years. No data is available for 2019, making it difficult to track the progression of ratios in this year.

However, in 2020, the loss ratio spiked again, nearing the 2017 peak at 353.59%. The subsequent years, 2021 and 2022, saw a significant reduction in loss ratios, registering at 47.29% and 60.7% 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 Tennessee fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $82,743,000 in 2020. The highest was $145,913,000 in 2022. This represents an increase of over 76% from the low in 2020 to the high in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of dips in 2018 and 2020. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $32,337,000 or 28.5% (from $113,576,000 to $145,913,000). The smallest year-over-year increase was just 1.2%, from $86,806,000 in 2019 to $87,743,000 in 2020.

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $82,094,000 in 2020 and the highest being $143,190,000 in 2022. This was a 74.5% increase. The trends in year-over-year changes were also similar between direct premiums written and earned.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data in Tennessee presents intriguing observations over the years. The loss ratios display substantial fluctuations, with the lowest recorded at 47.87% in 2017 and peaking at 80.25% in 2022.

The loss ratio experienced an upward trend from 57.67% in 2015 to 64.93% in 2016, dropped to 47.87% in 2017, then rose to 59.14% in 2018. The highest spike was observed in 2019, with the loss ratio reaching 73.43%.

However, it dropped to 62.19% in 2020 before rising again to 52.04% in 2021. The year 2022 recorded the highest loss ratio of 80.25%, suggesting an overall volatile trend in loss ratios for the Federal Multi-Peril Crop in Tennessee.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Tennessee steadily increased from 2015 to 2021, before decreasing in 2022. The lowest amount of direct premiums written was $18,844,000 in 2015.

This increased each year, reaching a peak of $21,711,000 in 2021, representing a 15% increase over the period. Direct premiums earned followed a similar trajectory, starting at $19,098,000 in 2015 and peaking at $21,144,000 in 2021, a 11% increase. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $889,000 or 4.3% (from $20,864,000 to $20,753,000). The smallest increase was just 0.4% from 2016 to 2017 ($19,372,000 to $19,441,000).

In 2022, direct premiums written dropped significantly to $19,078,000, a 12% decrease from 2021. This was the only year-over-year decline in the period. Meanwhile, direct premiums earned increased to $20,375,000 in 2022, the highest amount during the period.

Loss Ratios for Federal Flood

The Federal Flood loss ratio in Tennessee exhibits considerable variation from 2015 to 2022. The loss ratio initially climbed from a low of 9.64% in 2015 to a moderate 39.5% in 2017, then dipped to 11.5% in 2018. Notably, the highest spike occurred in 2019, reaching a remarkable 77.19%.

However, this peak was followed by a significant drop to 30.07% in 2020. The most striking increase was observed in 2021, with the loss ratio skyrocketing to an unprecedented 203.65%. This extreme value indicates a year of high claim payouts relative to premiums earned. However, the trend sharply reversed in 2022, plummeting to a low of 12.01%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $3,140,000 in 2018. The highest amount was $3,874,000 in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of decreases in 2017, 2018, and 2020. The direct premiums earned followed a similar pattern to direct premiums written over the period. The lowest amount was $3,140,000 in 2018, matching the lowest for direct premiums written. The highest direct premiums earned was $3,569,000 in 2021.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $418,000 or 12.1% (from $3,456,000 to $3,874,000). The smallest year-over-year increase was just 1.7%, from $3,192,000 in 2020 to $3,245,000 in 2021.

Loss Ratios for Private Crop

Reviewing the loss ratio percentages for the Private Crop line of business in Tennessee from 2015 to 2022, interesting patterns emerge. The loss ratios demonstrate considerable volatility, with the lowest recorded at 82.85% in 2018 and the highest at 152.31% in 2017. Between 2015 and 2016, the figures remained fairly stable, at 95.25% and 99.79% respectively.

A peak was observed in 2017, followed by a sharp decline to the lowest point in 2018. The subsequent year of 2019 saw a rise to 95.66%, which then dramatically shot up to 145.25% in 2020. The last two years, 2021 and 2022, have seen a reduction in loss ratios to 111.56% and 89.01% respectively.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Tennessee fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $5,939,000 in 2016. This increased to $8,585,000 in 2017, $12,180,000 in 2018, and peaked at $18,337,000 in 2022. This represents an over 200% increase from 2016 to 2022. Direct premiums earned followed a similar trajectory, starting at $2,854,000 in 2016 and reaching $17,181,000 in 2022, a 502% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $4,986,000 or 36.8% (from $13,551,000 to $18,337,000). The smallest year-over-year increase was just 2.6%, from $9,247,000 in 2020 to $9,477,000 in 2021.

Loss Ratios for Private Flood

The Private Flood insurance loss ratios in Tennessee show considerable variation over the studied years. In 2016, the loss ratio stood at a modest 10.57%.

However, it witnessed an exponential surge to 270.22% in 2017. Data from 2018 is unavailable, but in 2019, the loss ratio plummeted to a low of 5.53%. The most striking figure appears in 2020, where the loss ratio leaped to an unprecedented 895.29%.

This marks the highest loss ratio recorded for the Private Flood insurance sector during this period. The ratio then dropped significantly to 267.26% in 2021. Unfortunately, the data for 2022 is not available for analysis.

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 Tennessee increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $143,342,000 in 2015. The highest amount was $182,237,000 in 2022. This represents an increase of over 27% 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 $3,749,000 or 8.4% (from $168,488,000 to $182,237,000). The smallest year-over-year increase was 2.3%, from $158,826,000 in 2019 to $162,632,000 in 2020.

The trends for direct premiums earned are very similar. The lowest amount was $142,751,000 in 2015 and the highest was $175,254,000 in 2022, a 23% increase. The largest year-over-year increase was 8.1% between 2021 and 2022 (from $164,874,000 to $175,254,000). The smallest was 2.4% between 2019 and 2020.

Loss Ratios for Farmowners Multiple Peril

The loss ratio data for Farmowners Multiple Peril in Tennessee exhibits notable fluctuations from 2015 to 2022.

In the earlier years, the loss ratios experienced a steady increase, going from 44.96% in 2015 to 59.6% in 2017. However, a significant decline occurred in 2018, with the loss ratio dropping to 42.31%.

The subsequent years saw an upward trend, with the loss ratio reaching 70.23% in 2020, the highest value within this period. This increase was followed by a slight decline in 2021 and 2022, with loss ratios of 66.53% and 63.97%, respectively. 

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 Tennessee increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $190,904,500 in 2015. By 2022, this had increased to $276,600,300, representing an overall increase of 45% over the 8 year period.

Direct premiums earned followed a similar trajectory, growing from $187,388,000 in 2015 to $262,772,400 in 2022, a 40% increase.

Looking year-over-year, the largest increase in direct premiums written was from 2021 to 2022, when it grew by $26,502,800 or 10.6% (from $250,498,500 to $276,600,300). The smallest year-over-year growth was just 2.7%, from $195,146,600 in 2016 to $200,467,800 in 2017.

Loss Ratios for Homeowners Multiple Peril

Analysis of the loss ratio percentages for Homeowners Multiple Peril in Tennessee from 2015 to 2022 reveals noteworthy variations. The loss ratios fluctuated within a range of 43.49% in 2015 to a peak of 84.9% in 2020.

Over the eight-year period, there were two instances of significant increases: 2015 to 2016, with a jump from 43.49% to 59.69%, and 2019 to 2020, with a dramatic rise from 48.49% to 84.9%.

While the loss ratios experienced a decrease from 59.69% in 2016 to 46.58% in 2018, they remained moderately stable between 2017 and 2019, varying between 46.58% and 53.58%. Following the sharp increase in 2020, the loss ratios in 2021 and 2022 stabilized at relatively higher levels of 60.9% and 65.39% compared to previous years.

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 Tennessee increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $696,206,000 in 2015. The highest amount was $1,029,763,000 in 2022. This represents an increase of over 48% 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 $190,780,000 or 20.7% (from $919,383,000 to $1,029,763,000). The smallest year-over-year increase was 2.8%, from $703,103,000 in 2016 to $706,752,000 in 2017.

The pattern for direct premiums earned is similar. The lowest amount was $688,482,000 in 2015 and the highest was $977,866,000 in 2022, an increase of over 42%. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 19.8% (from $884,378,000 to $977,866,000). The smallest increase was 1.0% from 2016 to 2017.

Loss Ratios for Commercial Multiple Peril

The Commercial Multiple Peril loss ratio data for Tennessee exhibits notable fluctuations across the years. In 2015, the loss ratio stood at 51.05%, followed by a significant increase to 89.72% in 2016. The ratio then dropped considerably to 45.44% in 2017, demonstrating high variability between these years.

From 2017 to 2019, the loss ratios moderately increased and then decreased, with 49.73% in 2018 and 41.04% in 2019. However, a sharp spike occurred in 2020, with the loss ratio reaching a peak of 116.79%. This dramatic increase is more than double the previous year's value and represents the highest loss ratio observed in the given data.

In the most recent years, 2021 and 2022, the loss ratios returned to comparatively moderate levels, with 54.29% and 57.02%, respectively.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $90,865,000 in 2015. This increased to $106,197,000 in 2021, before decreasing slightly to $105,447,000 in 2022.

Overall, direct premiums written increased by 16% from 2015 to 2022. Direct premiums earned followed a similar trend, starting at $80,905,000 in 2015, peaking at $113,105,000 in 2020, and ending at $108,826,000 in 2022. This represents a 35% increase in direct premiums earned from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $77,714,000 or 8%.

The smallest year-over-year increase was 1% between 2016 and 2017. For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $24,137,000 or 23%. The smallest increase was 3% from 2018 to 2019.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Tennessee depicts interesting patterns over the years. From 2015 to 2019, there is a consistent decline, starting at 15.4% in 2015 and dropping to a mere 0.85% in 2019.

However, in 2020, there is an abrupt surge to 23.85%, marking the highest point over the seven-year span. The loss ratio then plummets to 1.69% in 2021, almost matching its lowest point in 2019.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $51,287,000 in 2017. The highest amount was $93,460,000 in 2022. This represents an increase of over 80% from the low in 2017 to the high in 2022.

Direct premiums written increased each year from 2017 to 2022, with the exception of a dip from $56,897,000 in 2018 to $51,287,000 in 2017. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $36,672,000 or 40.8% (from $89,788,000 to $93,460,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the low of $50,771,000 occurring in 2017 and the high of $94,168,000 in 2022. This was an increase of over 85% from 2017 to 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $15,569,000 or 19.8% (from $78,599,000 to $94,168,000).

Loss Ratios for Ocean Marine

The loss ratio data for Ocean Marine insurance in Tennessee presents intriguing trends and fluctuations.

The data shows considerable variability, ranging from a low of 37.08% in 2021 to a high of 106.59% in 2018. Noteworthy is the spike in 2018, a significant deviation from the trend. The years 2015 and 2017 exhibited similar loss ratios of 40.86% and 40.2%, respectively.

In contrast, 2016 and 2022 showed higher ratios, with 65.45% and 60.63% respectively. From 2019 to 2021, there was a slight upward trend, with ratios rising from 37.25% to 46.75%, before dipping again in 2021 to 37.08%.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Tennessee increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $393089000 in 2015. The highest amount was $674125000 in 2022. This represents an increase of over 71% 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 $91160000 or 18.2% (from $501605000 to $593265000). The smallest year-over-year increase was 2.1%, from $402684000 in 2016 to $431142000 in 2017.

The direct premiums earned followed a similar trend, with the lowest amount being $386429000 in 2015 and the highest being $646644000 in 2022. This was a 67% increase over the period. The largest jump was 16.9% from 2020 to 2021, going from $497045000 to $558899000.

Loss Ratios for Inland Marine

The loss ratio percentages for Inland Marine insurance in Tennessee display substantial variability from 2015 to 2022. The percentages range from a low of 38.71% in 2021 to a high of 74.45% in 2020. The years 2015 to 2018 see a decrease in loss ratios, from 47.35% to 41.35%.

However, a sharp increase is observed in 2020, with the ratio soaring to 74.45%. This spike is followed by a significant drop to the lowest point in 2021, with the ratio falling to 38.71%. The year 2022 provides a slight increase, settling at 39.8%.

Direct and Earned Premiums for Financial Guaranty

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

The lowest amount of direct premiums written was $88,000 in 2017. The highest was $514,000 in 2019. Direct premiums earned ranged from a low of $858,000 in 2022 to a high of $11,190,000 in 2020.

Overall, direct premiums written decreased from $189,000 in 2015 to $218,000 in 2022, representing a drop of about 15%. However, direct premiums earned were more variable, with the highest amount in 2020 and the lowest in 2022. The largest year-over-year decrease in direct premiums written was from 2016 to 2017, when it fell by $48,000 or 35% (from $136,000 to $88,000).

The biggest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $272,000 or 112% (from $242,000 to $514,000). For direct premiums earned, the largest fluctuation was from 2020 to 2022, when it plummeted by $10,332,000 or 92% (from $11,190,000 to $858,000).

Loss Ratios for Financial Guaranty

The Financial Guaranty loss ratio data in Tennessee 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 Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $196,282,000 in 2018, while the highest was $263,279,000 in 2022.

Direct premiums written increased each year from 2018 to 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $7,986,000 or 3.3% (from $244,613,000 to $251,599,000). The smallest year-over-year increase was just 0.6% from 2017 to 2018 (from $212,981,000 to $196,282,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $207,206,000 in 2018 and the highest being $258,809,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 6.7% (from $242,648,000 to $258,809,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Tennessee demonstrates notable variations across the years.

In 2015, the loss ratio stood at 51.08%, which increased to 58.55% in 2016. However, a decline to 47.11% was observed in 2017, followed by a rise to 52.61% in 2018.

A significant jump in the loss ratio occurred in 2019, reaching 70.54%. Although there was a slight reduction in 2020, bringing the loss ratio to 65.56%, it remained notably higher than the previous years.

Interestingly, 2021 saw a considerable decrease, with the loss ratio dropping to 38.94%. In 2022, the loss ratio rebounded to 67.46%, maintaining its higher trend observed in 2019 and 2020.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Tennessee increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $78,908,000 in 2015. By 2022, this had increased 64% to $128,858,000.

Direct premiums earned followed a similar upward trajectory, growing from $76,469,000 in 2015 to $125,268,000 in 2022, representing a 64% increase. Looking year-over-year, the largest increase in direct premiums written was from 2020 to 2021, when premiums jumped 14% from $105,486,000 to $120,359,000.

The smallest year-over-year increase was just 0.4% between 2016 and 2017. In most years, direct premiums earned lagged slightly behind direct premiums written. The gap between the two metrics grew over time, from $1,439,000 in 2015 to $3,590,000 in 2022.

Loss Ratios for Earthquake

The Earthquake Loss Ratio data for Tennessee shows interesting patterns over the observed years. Notably, loss ratios remained unavailable in 2015, 2016, and 2019. The data reveals a peak in 2018 at 2.93%, followed by a significant drop to 0.99% in 2020. The loss ratio further declined to 0.5% in 2021, marking the lowest point across the available data. However, there was an upward shift in 2022, with the ratio nearly quadrupling to 1.99% compared to the previous year. The trend indicates a sharp decline from 2018 through 2021, followed by a significant increase in 2022.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $724,009,000 in 2020. The highest amount was $826,133,000 in 2022.

Direct premiums written decreased each year from 2018 to 2020, with the largest year-over-year decrease occurring between 2019 and 2020 when premiums dropped by $43,680,000 or 5.7% (from $767,689,000 to $724,009,000). After hitting a low in 2020, direct premiums written increased by $37,170,000 or 5.1% in 2021 (to $761,179,000) and then jumped by $64,954,000 or 8.5% in 2022 (to $826,133,000) - the highest level over the 8 years.

The pattern for direct premiums earned is similar, with the lowest amount of $721,315,000 occurring in 2020 and the highest amount of $814,402,000 reached in 2022. The largest year-over-year increase in direct premiums earned was between 2021 and 2022 at $57,237,000 or 7.6%.

Loss Ratios for Workers Compensation

The loss ratio data for Workers Compensation in Tennessee exhibits substantial variation over the eight-year period from 2015 to 2022. The highest loss ratio was recorded in 2015 at 51.99%, while the lowest was observed in 2018 at 29.66%. The years 2016 and 2017 showcased a downward trend with loss ratios of 45.73% and 43.57% respectively, followed by a significant dip in 2018.

The loss ratio increased in 2019 to 37.67% and continued to rise in 2020, reaching 46.07%. A peak was again seen in 2021, with the loss ratio climbing to 50.24%. However, this upward trend did not persist into 2022, with the loss ratio decreasing to 41.2%.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and earned for products liability insurance in Tennessee increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $56,039,000 in 2015. The highest amount was $96,570,000 in 2022. This represents an increase of over 72% 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 $21,518,000 or 28.7% (from $75,052,000 to $96,570,000). The smallest year-over-year increase was 3.7%, from $54,762,000 in 2018 to $56,304,000 in 2019.

The direct premiums earned followed a similar upward trend over the period, with the lowest amount being $55,617,000 in 2015 and the highest being $93,021,000 in 2022. This was a 67.4% increase. The largest year-over-year growth in direct premiums earned was 29.8%, from $66,576,000 in 2020 to $86,393,000 in 2021. The smallest was a 0.5% decrease from $55,617,000 in 2015 to $55,280,000 in 2016.

Loss Ratios for Product Liability

The Products Liability loss ratio percentages in Tennessee exhibit considerable variation from 2015 to 2022. The most striking fluctuation occurred in 2016 when the loss ratio soared to 127.54% compared to the unspecified percentage in 2015. This was followed by a substantial reduction to 63.84% in 2017.

Another notable increase was registered in 2018, with the loss ratio reaching 92.77%. The data for 2019, however, marks an extreme drop to 6.25%, the lowest in this period. The loss ratios for the years 2020, 2021, and 2022 show a consistent upward trend, with percentages of 23.65%, 38.9%, and 51.71%, 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 Tennessee increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $3,557,003,000 in 2015. The highest was $5,140,703,000 in 2022. This represents an increase of over 44% 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 $1,361,793,000 or 28.5% (from $4,779,210,000 to $5,140,703,000). The smallest year-over-year increase was 6.4%, from $3,557,003,000 in 2015 to $3,769,652,000 in 2016.

The pattern for direct premiums earned is similar, with the lowest amount being $3,485,906,000 in 2015 and the highest being $4,983,245,000 in 2022. This represents a 43% increase over the period.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Tennessee displays notable trends and shifts over the years.

A general observation shows the loss ratios fluctuating, with the lowest percentage of 56.69% in 2020 and the highest of 78.77% in 2022. Between 2015 and 2016, there was a slight increase from 63.75% to 67.5%. This was followed by a minor decrease in 2017 to 64.96%. The trend continued to decline in 2018 and 2019, with loss ratios of 61.67% and 62.24%, respectively.

However, the most significant dip occurred in 2020, with a loss ratio of 56.69%. From this low point, the data demonstrates a sharp increase in 2021, reaching 67.61%. The upward trend continued into 2022, with the highest recorded loss ratio of 78.77%.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in Tennessee increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $578,339,000 in 2015. The highest amount was $1,074,717,000 in 2022. This represents an increase of over 85% 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 $115,614,000 or 13.1% (from $888,068,000 to $1,000,682,000). The smallest year-over-year increase was 4.8%, from $663,914,000 in 2017 to $732,307,000 in 2018.

The direct premiums earned followed a similar trend, with the lowest amount being $567,881,000 in 2015 and the highest being $1,049,246,000 in 2022. This was an increase of over 85% as well. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $97,164,000 or 11.5% (from $843,494,000 to $941,658,000). The smallest increase was 4.6%, from $694,027,000 in 2017 to $703,862,000 in 2018.

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in Tennessee presents some interesting trends over the eight-year period. The loss ratios show a moderate level of inconsistency, peaking at 64.2% in 2019, and hitting a low of 55.65% in 2021. Between 2015 and 2016, an increase is observed from 57.56% to 63.04%.

However, a slight decrease to 62.04% occurred in 2017, before dipping further to 59.85% in 2018. In 2019, the loss ratio surged to its eight-year high, only to fall again to 57.65% in 2020. The years 2021 and 2022 witnessed a slight decrease and subsequent rise in loss ratios, with 55.65% and 58.73% respectively.

Direct and Earned Premiums for Aircraft

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

The lowest amount of direct premiums written was $23,843,000 in 2015. This increased each year, with the exception of 2016 which saw a slight decrease to $26,778,000. The highest amount of direct premiums written was $56,192,000 in 2022, representing an increase of over 135% from 2015. The direct premiums earned followed a similar trend, starting at $24,586,000 in 2015 and reaching $52,637,000 in 2022, an increase of over 114%.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $9,103,000 or 26.6% (from $34,225,000 to $43,328,000). The smallest year-over-year increase was just 1.3%, from $26,899,000 in 2017 to $27,703,000 in 2018.

Loss Ratios for Aircraft

The loss ratio data for Aircraft insurance in Tennessee displays notable variations and trends across the years. The loss ratios exhibit substantial fluctuation, with the lowest percentage observed in 2015 at 23.84% and the highest in 2020 at 192.04%. From 2015 to 2016, there is a significant increase in the loss ratio, jumping from 23.84% to 47.84%. The subsequent years, 2017 and 2018, see a decline in loss ratios, with 2017 having a 45.84% loss ratio and 2018 dropping to 29.02%.

However, 2019 witnesses an uptick in the loss ratio to 43.66%. The most striking year is 2020, with an exceptionally high loss ratio of 192.04%, which dramatically deviates from the previous years. In contrast, 2021 and 2022 show a considerable decrease in loss ratios, with 37.77% and 27.47% respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written for fidelity insurance in Tennessee increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $18,367,000 in 2015. The highest amount was $22,414,000 in 2022. This represents an increase of 22.1% over the 8 year period. The direct premiums written increased each year from 2015 to 2022, with the exception of 2018 which saw a slight decrease from $19,594,000 in 2017 to $18,409,000 in 2018.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $4,249,000 or 20.3% (from $20,965,000 to $22,414,000). The smallest year-over-year increase was just 1.9%, from $18,732,000 in 2019 to $19,122,000 in 2020. The direct premiums earned followed a similar upward trend over the period, rising from $18,281,000 in 2015 to $21,712,000 in 2022 - an increase of 18.8%.

Like the direct premiums written, the only year-over-year decline was seen in 2018 when direct premiums earned decreased from $18,815,000 in 2017 to $18,841,000. The largest jump was from 2021 to 2022 at 6.9% (from $20,322,000 to $21,712,000).

Loss Ratios for Fidelity

Analyzing the loss ratio data for Fidelity in Tennessee, we observe fluctuating trends over the years. In 2015, the loss ratio stood at 54.3%, but it dropped significantly to 35.87% in 2016 and further to 22.64% in 2017.

A rise was noted in 2018 with a percentage of 37.36%, yet a sharp decline to 12.15% followed in 2019. The year 2020 saw an increase to 34.45%, followed by a slight decrease to 28.68% in 2021. In 2022, a notable upswing took the loss ratio to 47.5%. This data indicates major variability, with the lowest ratio in 2019 and the highest in 2015.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $85,805,000 in 2015. This increased to $139,191,000 in 2022, representing an overall increase of 62% over the 8 year period.

Direct premiums written increased each year from 2015 to 2022, with the exception of 2017 which saw a slight decrease from $90,568,000 in 2016 to $89,256,000 in 2017. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $23,454,000 or 20.3% (from $115,737,000 to $139,191,000).

Direct premiums earned followed a similar trend, starting at $82,666,000 in 2015 and reaching $128,055,000 in 2022. This was a 55% increase over the period. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $16,983,000 or 15.4%.

Loss Ratios for Surety

The Surety loss ratio data for Tennessee across the years showcases notable variations. In 2015, the loss ratio stood at 15.61%, decreasing to 11.16% in 2016 and slightly dipping further to 10.77% in 2017.

A significant surge is observed in 2018, where the ratio escalates to 29.21%. Unfortunately, the data for 2019 is missing, making it challenging to establish a clear trend. Following this, a decrease is seen in 2020 with the loss ratio at 11.29%, which again slightly contracts to 10.52% in 2021.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Tennessee fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $9,496,000 in 2018, while the highest was $39,707,000 in 2015. Direct premiums earned ranged from a low of $10,294,000 in 2021 to a high of $43,960,000 in 2015. In general, direct premiums written decreased substantially from 2015 to 2018, going from $39,707,000 down to $9,496,000.

This represents a decrease of over 76% in just 3 years. After hitting this low point in 2018, direct premiums written then rebounded and increased each year from 2019 to 2022. The largest year-over-year increase for direct premiums written was from 2018 to 2019, when it grew by $4,494,000 or 47.3% (from $9,496,000 to $13,690,000).

The pattern for direct premiums earned differs somewhat from direct premiums written over the 2015-2022 period. While direct premiums earned also decreased from 2015 to 2018, the decline was less steep, going from $43,960,000 down to $12,468,000, a decrease of about 72%.

Direct premiums earned then fluctuated up and down between 2018 and 2022, ranging from a low of $10,294,000 in 2021 to a high of $14,602,000 in 2022. The largest year-over-year increase was from 2018 to 2019, when direct premiums earned grew by $2,415,000 or 19.4% (from $12,468,000 to $13,883,000).

Loss Ratios for Warranty

The Warranty loss ratio data for Tennessee presents interesting patterns and variations across the years. From 2015 to 2018, there is a fluctuation in loss ratios, with 65.23% in 2015 dropping to 53.32% in 2016, and then rising again to 65.22% in 2018.

A similar pattern is observed from 2019 to 2022, with the highest loss ratio of 69.52% in 2022 and a significant decrease to 45.61% in 2021.

Notably, 2015 and 2018 display nearly identical loss ratios, at 65.23% and 65.22%, respectively, while 2016 and 2017 exhibit relatively lower percentages, at 53.32% and 57.29%. The years 2019, 2020, and 2022 show a general increase in loss ratios, with 68.8%, 66.36%, and 69.52%, respectively. The year 2021, however, deviates from this pattern, with a markedly lower loss ratio of 45.61%.