Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $18,600,800 in 2016. The highest was $374,306,000 in 2022. This represents an increase of over 100% 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 $205,542,000 in 2015 to $182,767,000 in 2017. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $68,467,000 or 22.4% (from $305,839,000 to $374,306,000).

Similarly, direct premiums earned saw a steady increase over the period, with the exception of 2017. The lowest direct premiums earned was $181,643,000 in 2016, while the highest was $338,562,000 in 2022. This is an increase of over 86% from 2016 to 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 18.4% (from $286,229,000 to $338,562,000).

Loss Ratios for Fire

The loss ratio data for Fire insurance in Washington demonstrates notable trends and fluctuations across the years. A significant disparity is observed between the highest loss ratio of 79.12% in 2015 and the lowest of 39.49% in 2016. The data exhibits an overall oscillating pattern, with alternating high and low loss ratio values.

More specifically, the years 2015, 2018, and 2021 exhibit higher loss ratios of 79.12%, 66.99%, and 70.15%, respectively. In contrast, the years 2016, 2017, 2019, and 2020 display lower loss ratios of 39.49%, 43.93%, 46.56%, and 48.4%, respectively. Interestingly, the most recent years, 2021 and 2022, show a noticeable increase in loss ratios, with 2021 reaching 70.15% and 2022 at 58.45%.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and earned for allied lines insurance in Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $125,593,000 in 2017, while the highest was $259,327,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the largest year-over-year increase occurring between 2021 and 2022 when direct premiums written grew by $35,665,000 or 15.9% (from $223,662,000 to $259,327,000). Similarly, the lowest amount of direct premiums earned was $125,297,000 in 2017 and the highest was $237,107,000 in 2022.

Direct premiums earned followed a similar upward trend as direct premiums written between 2017 and 2022, with the biggest year-over-year jump happening between 2020 and 2021 when direct premiums earned increased by $28,042,000 or 15.4% (from $181,510,000 to $209,752,000).

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Washington demonstrates notable trends and fluctuations between 2015 and 2022. The loss ratios exhibit significant variability, with the lowest value of 25.77% in 2018 and the highest reaching 87.82% in 2017. Between 2015 and 2016, the loss ratios show a minimal increase from 42.63% to 44.59%. However, in 2017, there is a drastic spike, with the value almost doubling to 87.82%.

The subsequent year, 2018, marks a sharp decline to 25.77%, the lowest value in the given time frame. From 2019 to 2022, the loss ratios display a trend of relative stabilization, with values ranging from 54.55% to 66.97%. In 2019, the figure rises to 54.55%, followed by a slight decrease to 47.76% in 2020. The trend then reverses, with an increase to 66.97% in 2021, and a minor decline to 62.46% in 2022.

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 Washington state increased substantially from 2015 to 2022.

The lowest amount of direct premiums written was $117,650,000 in 2015. This increased each year, reaching a high of $301,570,000 in 2022. This represents an increase of 156% over the 8 year period. Similarly, direct premiums earned grew from $126,199,000 in 2015 to $277,844,000 in 2022, a 120% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $89,193,000 or 42%. The smallest year-over-year increase was just 2% between 2016 and 2017. For direct premiums earned, the biggest jump was 44% from 2021 to 2022. The smallest increase was 4% from 2018 to 2019.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data in Washington demonstrates considerable fluctuations between 2015 and 2022. The highest loss ratio occurred in 2021 at 296.51%, a significant upsurge from the 129.05% in 2020. The lowest loss ratio was in 2018, with a value of 61.47%, followed closely by 65.08% in 2016. Notably, 2015 recorded a high loss ratio of 177.1%, followed by a substantial drop to 65.08% in 2016.

The loss ratios then varied between 61.47% and 101.4% for the next three years. The data reveals two distinct periods of elevated loss ratios - 2015 and 2021 - with 2021 experiencing the most dramatic increase. In contrast, the years 2016 and 2018 exhibited more moderate loss ratios, with 2022 demonstrating a return to a lower value of 91.21%.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $20,893,000 in 2022, down from $25,436,000 in 2021.

This represents a decrease of 17.8%. The highest amount of direct premiums written was $28,186,000 in 2016. Direct premiums written decreased each year from 2017 to 2022, with the exception of a slight increase from $24,854,000 in 2019 to $25,180,000 in 2020. The largest year-over-year decrease was from 2021 to 2022, when direct premiums written declined by $4,543,000 or 17.8% (from $25,436,000 to $20,893,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the highest amount of $29,072,000 in 2015 and the lowest amount of $23,486,000 in 2022. The largest year-over-year decrease in direct premiums earned was from 2021 to 2022, dropping by $1,836,000 or 7.3% (from $25,322,000 to $23,486,000).

Loss Ratios for Federal Flood

The loss ratio data for Federal Flood in Washington exhibits considerable fluctuation over the years. In 2015, the loss ratio was 31.07%, decreasing significantly to 15.53% in 2016 and slightly further to 14.32% in 2017. The sharpest decline was witnessed in 2018, with a loss ratio of merely 3.7%.

Data for 2019 is unavailable, but in 2020, the figure rebounded to 15.65%. However, the subsequent years saw a dramatic increase, with the loss ratio surging to 48.53% in 2021 and peaking at 73.91% in 2022. This data suggests a trend of decreasing loss ratios until 2018, followed by a substantial increase in the recent years.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $12,408,000 in 2020. The highest was $20,583,000 in 2019.

Direct premiums earned followed a similar pattern, with the lowest being $12,458,000 in 2020 and the highest being $20,478,000 in 2019. Overall, there was an increasing trend in both direct premiums written and earned from 2015 to 2019, followed by a sharp decline in 2020 and then a slight recovery in 2021 and 2022. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $7,140,000 or 41%.

The largest increase in direct premiums earned was also from 2018 to 2019 at $6,300,000 or 35%. The smallest year-over-year change was from 2021 to 2022 for both metrics. Direct premiums written grew by $3,807,000 or 27% and direct premiums earned grew by $3,636,000 or 26%.

Loss Ratios for Private Crop

The Private Crop loss ratio in Washington demonstrates remarkable fluctuations from 2015 to 2022. The year 2015 observes the highest loss ratio at 94.08%, after which there is a significant drop to 50.19% in 2016 and an even more drastic decrease to 10.4% in 2017. The loss ratio then begins to moderately recover, reaching 24.84% in 2018 and further increasing to 29.58% in 2019.

However, a noticeable upsurge is seen in 2020, with the ratio jumping to 54.83%. The following year, 2021, presents a slight reduction to 47.43%. Impressively, 2022 records an extraordinary surge in loss ratio, peaking at an unprecedented high of 123.67%. The data, thus, suggests a trend of extreme variability in the loss ratios of Private Crop in Washington over the observed years.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Washington state fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $8,729,000 in 2019. The highest was $19,016,000 in 2022. This represents an increase of 118% from the low in 2019 to the high in 2022.

Direct premiums written increased each year from 2016 to 2022, with the exception of 2019 which saw a decrease from $11,566,000 in 2017 to $8,729,000 in 2019. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $4,562,000 or 31.6% (from $14,454,000 to $19,016,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $7,446,000 in 2019 and the highest being $17,347,000 in 2022. This was a 133% increase from 2019 to 2022. The largest year-over-year increase for direct premiums earned was also from 2021 to 2022, growing by $5,073,000 or 41.3% (from $12,274,000 to $17,347,000).

Loss Ratios for Private Flood

Exploring the Private Flood Loss Ratio Percentage in Washington over the years uncovers some noteworthy trends. The loss ratio percentages stayed relatively low in the early years, with 1.1% in 2016, gradually increasing to 3.95% by 2018. However, a marked uptick was observed in 2020, with the loss ratio percentage escalating to 22.53%. This was followed by a significant jump to 43.32% in 2021.

Although 2022 saw a slight dip to 37.38%, it still maintained a relatively high level compared to the initial years. This progression signifies a substantial increase in loss ratio percentages from 2016 to 2022, especially noteworthy is the drastic surge witnessed from 2019 to 2021. The variations in the loss ratio percentages over these years indicate a shifting landscape in the Private Flood line of business in Washington.

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 Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $71,375,000 in 2015. The highest amount was $91,900,000 in 2022.

This represents an increase of over 28% over the 8 year period. The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $7,946,000 or 9.5% (from $83,954,000 to $91,900,000). The smallest year-over-year increase was 2.2%, from $75,780,000 in 2017 to $77,183,000 in 2018.

The direct premiums earned followed a similar trend, increasing each year from $70,188,000 in 2015 to $88,095,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $6,596,000 or 8.1% (from $81,499,000 to $88,095,000). The smallest increase was 1.6%, from $73,630,000 in 2016 to $75,099,000 in 2017.

Loss Ratios for Farmowners Multiple Peril

Loss ratio percentages for Farmowners Multiple Peril in Washington reveal notable trends over the years. They demonstrate significant variability, with the lowest rate of 43.67% in 2018 and the highest reaching 91.04% in 2020. The loss ratio made a substantial leap from 61.33% in 2019 to its peak in 2020, marking a noteworthy increase. It then declined to 56.78% in 2021 and further decreased to 52.16% in 2022.

The period between 2015 and 2018 shows a fluctuating pattern, with the ratio falling from 61.74% in 2015 to 46.69% in 2016, then rising to 56.89% in 2017 before dropping again in 2018. This intermittent pattern of highs and lows suggests a lack of consistency in the loss ratios for these years. Conversely, the years 2019 to 2022 show a more predictable trend of an initial rise followed by a steady decrease.

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 Washington state increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $1,585,812,000 in 2015. This increased each year, reaching $2,484,205,000 in 2022 - an increase of 56.5% over the 8 year period. Similarly, direct premiums earned grew from $1,550,385,000 in 2015 to $2,361,707,000 in 2022 - a 52.4% increase.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $1,132,235,000 or 5.8% (from $19,625,730,000 to $20,758,080,000). The smallest increase was from 2016 to 2017 at 2.9% (from $16,457,380,000 to $17,232,550,000).

Loss Ratios for Homeowners Multiple Peril

The Homeowners Multiple Peril loss ratio data for Washington state indicates some interesting variations over the years. The loss ratios showed a decrease from 62.99% in 2015 to 50.39% in 2016, indicating a significant reduction in losses relative to premiums. The years that followed, from 2017 to 2020, saw relatively stable loss ratios, oscillating between 53.24% and 56.8%, with a slight dip to 55.42% in 2020.

However, there was a noticeable increase in the loss ratio to 63.59% in 2021, and a significant jump to 78.21% in 2022. This rising trend in recent years suggests that the losses relative to premiums for Homeowners Multiple Peril line of business have increased. The highest loss ratio over the period under review was recorded in 2022, implying a higher proportion of premiums being paid out as claims in that year.

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 Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $791,229,000 in 2015. The highest amount was $1,165,113,000 in 2022.

This represents an increase of over 47% 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 $87,974,000 or 9.2% (from $1,072,470,000 to $1,165,113,000). The smallest year-over-year increase was 6.3%, from $791,229,000 in 2015 to $840,613,000 in 2016.

The trends for direct premiums earned are similar, with the lowest amount being $782,625,000 in 2015 and the highest being $1,119,980,000 in 2022. This is an overall increase of 43% over the period. As with direct premiums written, direct premiums earned increased each year. The largest year-over-year increase was 8.9% from 2021 to 2022 (from $1,029,361,000 to $1,119,980,000) and the smallest was 6.0% from 2015 to 2016.

Loss Ratios for Commercial Multiple Peril

The analysis of the Commercial Multiple Peril loss ratio data for Washington reveals interesting patterns from 2015 to 2022. The loss ratios have shown a gradual increase, with minor fluctuations over these years. The lowest loss ratio was recorded in 2018 at 53.68%, after which it increased again to 55.92% in 2019. The most significant increase in the loss ratio occurred from 2020 to 2022.

The loss ratio in 2020 was 59.6% but increased to 67.57% in 2022, which is the highest value over the period. The years 2021 and 2022 saw relatively consistent high loss ratios, with 60.78% and 67.57% respectively, indicating a rising trend. These insights indicate a general upward trajectory in the loss ratio for Commercial Multiple Peril in Washington over these years.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Washington state fluctuated over the 2015-2022 period.

Direct premiums written increased from $155,252,000 in 2015 to a peak of $187,330,000 in 2019 before decreasing to $167,055,000 in 2022. Direct premiums earned followed a similar pattern, rising from $141,163,000 in 2015 to a high of $206,853,000 in 2020 and then dropping to $175,851,000 in 2022. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $20,691,000 or 12.1% (from $171,639,000 to $187,330,000).

The smallest year-over-year increase was just 0.6% from 2016 to 2017 ($160,358,000 to $160,252,000). For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $21,564,000 or 11.0% (from $195,289,000 to $206,853,000). The smallest increase was 1.5% from 2017 to 2018 ($167,126,000 to $173,940,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Washington state displays fascinating dynamics over the years 2015 to 2022. The ratios demonstrate significant fluctuation, falling from an initial 26.03% in 2015 to a dramatic low of 0.03% in 2017. However, data for 2018 remains undisclosed. '

A slight uptick to 0.87% is observed in 2019. In contrast, 2020 saw a spike to 24.16%, nearly returning to the 2015 level. The ratio then dropped to 3.29% in 2021. Unfortunately, the data for 2022 is also undisclosed. The available data suggests a volatile trend with changes in loss ratios, notably between 2016-2017 and 2019-2020.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $118,903,000 in 2017. The highest was $191,007,000 in 2022.

This represents an increase of over 60% from the low point in 2017 to the high point 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 $35,944,000 or 20.4% (from $176,063,000 to $191,007,000). The smallest year-over-year increase was 1.5%, from $124,382,000 in 2018 to $126,842,000 in 2019.

The direct premiums earned follow a similar pattern to the direct premiums written, but lag one year behind. The lowest direct premiums earned was $119,471,000 in 2017 and the highest was $185,220,000 in 2022. This represents a 55% increase from 2017 to 2022. The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 12.6% (from $164,489,000 to $185,220,000).

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data for Washington shows considerable variance over the observed period. The loss ratios saw an initial spike, climbing from 51.45% in 2015 to peak at 67.59% in 2016. However, this was followed by a reduction to 58.14% in 2017. The subsequent downfall continued into 2018, with the loss ratio reaching a seven-year low of 46.9%. Nevertheless, the ratios rebounded to 57.84% in 2019 but slightly decreased to 56.45% in 2020.

The year 2021 saw a substantial drop in loss ratios to 46.45%, akin to the 2018 level. However, the preliminary data for 2022 indicates a resurgence, with loss ratios climbing back up to 53.13%. Therefore, while the overall trend is somewhat cyclical, there's no clear pattern of consistent increase or decrease throughout the observed years.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Washington state increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $457,716,000 in 2015. By 2022, this had nearly doubled to $879,790,000.

Direct premiums written increased each year during this period. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $156,173,000 or 21.6% (from $723,617,000 to $879,790,000). The smallest increase was 6.8%, from $530,877,000 in 2017 to $566,389,000 in 2020. The trends for direct premiums earned are similar.

The lowest amount was $448,308,000 in 2015 and the highest was $849,867,000 in 2022. This represents a 90% increase over the 8 year period. As with direct premiums written, direct premiums earned increased steadily each year, with the biggest jump of 21.7% occurring from 2021 to 2022 (from $698,352,000 to $849,867,000).

Loss Ratios for Commercial Inland Marine

Analysis of loss ratio data for Inland Marine insurance in Washington reveals interesting patterns over the years. Specifically, loss ratios demonstrate considerable variation, with the lowest being 36.28% in 2018 and the highest at 45.64% in 2016. The years 2015 to 2017 saw a modest increase from 40.31% to 44.61%, followed by a significant drop to 36.28% in 2018.

The loss ratio increased again to 42.81% in 2019, and marginally in 2020 to 42.9%. However, in the recent years of 2021 and 2022, the loss ratios decreased to 38.24% and 37.85%, respectively. Overall, the data implies an initial increase in loss ratios, followed by a decrease, a brief spike, and then a consistent decrease in the recent years.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Washington State fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $792,000 in 2022, while the highest was $3,920,000 in 2020. For direct premiums earned, the lowest amount was $1,525,000 in 2022 and the highest was $23,349,000 in 2015.

Overall, direct premiums written decreased from $1,156,000 in 2015 to $792,000 in 2022, representing a 31.5% decline over the 8 year period. Direct premiums earned also decreased significantly from $23,349,000 in 2015 to $1,525,000 in 2022, an even larger drop of 93.5%. The largest year-over-year decrease in direct premiums written was from 2020 to 2021, when it fell by $1,988,000 or 50.7% (from $3,920,000 to $1,932,000).

The smallest year-over-year decrease was just 2.6%, from $2,778,000 in 2018 to $2,709,000 in 2019. For direct premiums earned, the largest annual decline was from 2015 to 2016, dropping by $5,714,000 or 24.5% (from $23,349,000 to $17,635,000). The smallest year-over-year decrease was 3.9%, from $7,431,000 in 2018 to $7,146,000 in 2019.

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio in Washington 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 Washington state increased overall from 2015 to 2022. The lowest amount of direct premiums written was $160,753,000 in 2015.

This increased each year, with the exception of a slight dip from $163,191,000 in 2017 to $161,729,000 in 2018. The highest direct premiums written was $232,144,000 in 2022, representing a 44.4% increase from 2015. Similarly, direct premiums earned started at $164,617,000 in 2015 and increased steadily to $224,149,000 in 2022.

This was a 36.3% increase over the period. The largest year-over-year growth in direct premiums written was from 2020 to 2021, increasing by $21,411,000 or 13.1% (from $186,040,000 to $210,111,000). The smallest increase was just 0.9% from 2016 to 2017 (from $158,125,000 to $157,526,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Washington reveals notable fluctuations over the years. Between 2015 and 2016, the loss ratios exhibited a moderate increase from 43.45% to 48.55%, followed by a substantial rise to 69.37% in 2017.

The year 2018 saw a decline to 52.74%, while the highest loss ratio of 78.86% was observed in 2019. A decrease was evident in 2020, with the loss ratio settling at 67.35%. However, a sharper drop occurred in 2021, bringing the loss ratio down to 51.2%. The year 2022 exhibited an uptick in the loss ratio to 60.83%, yet it remained below the peak recorded in 2019.

Throughout the period, the Medical Professional Liability loss ratios in Washington demonstrated a pattern of considerable variability, with the most significant increase between 2016 and 2017 and the highest value in 2019. The data also highlights a general downward trend from 2019 to 2021, followed by a moderate rise in 2022.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and earned for earthquake insurance in Washington state increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $169,354,000 in 2015. By 2022, this had grown to $365,264,000 - representing an increase of over 115% over the 8 year period.

Direct premiums written increased each year during this timespan. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $45,225,000 or 14.1% (from $320,039,000 to $365,264,000). The smallest increase was just 2.2% from 2016 to 2017.

Direct premiums earned followed a similar upward trend over the period, lagging slightly behind the direct premiums written. The lowest amount earned was $163,306,000 in 2015 versus the highest of $344,523,000 in 2022 - a 111% increase. As with direct premiums written, the biggest year-over-year jump was from 2021 to 2022 at 14.1%.

Loss Ratios for Earthquake

The earthquake loss ratio data for Washington State displays notable fluctuations over the years 2015 to 2022. Loss ratios experienced a marked dip in 2016 and 2019, with no data available for those years, creating an irregular pattern.

In the years with available data, the loss ratios varied considerably. The lowest recorded loss ratio was in 2015, at 0.17%, while the highest occurred in 2018, reaching 2.81%. The time frame between these extremes was only three years, indicating significant shifts in a relatively short period.

Between 2017 and 2018, the loss ratio experienced a dramatic increase from 1.2% to 2.81%. However, the trend reversed in 2020, with the loss ratio dropping to 1.31%. In 2021, the loss ratio reached its second-lowest value at 0.22%, before rising again to 2.46% 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 Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,639,179,000 in 2021. The highest amount was $2,119,016,000 in 2018.

Direct premiums written increased from $1,832,498,000 in 2015 to a peak of $2,119,016,000 in 2018, representing a 15.7% increase over this 3 year period. After 2018, direct premiums written decreased year-over-year, with the steepest decline occurring from 2020 to 2021 when it dropped by 15.0% (from $1,929,133,000 to $1,639,179,000).

In 2022, direct premiums written increased to $1,880,923,000, representing a 14.7% increase from 2021. The pattern for direct premiums earned is similar. It rose from $1,830,441,000 in 2015 to a peak of $2,127,727,000 in 2018, then declined annually before increasing again in 2022 to $1,880,551,000. The main difference is that direct premiums earned lag slightly behind direct premiums written.

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for Washington displays notable shifts over the years. In 2015, the loss ratio was at its peak of 102.81%, only to decline to 64.86% by 2017. An upward trend is observed in 2018, with the loss ratio rising to 93.47% then slightly dropping to 86.9% in 2019.

A significant jump is observed in 2020, with the loss ratio soaring to 124.39%. The highest loss ratio percentage over this period is recorded in 2021 at 145.57%. However, a sharp decline to 96.98% is noted in 2022. This data suggests a high level of volatility in Workers Compensation loss ratios in Washington over the years under review.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written for products liability insurance in Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $54,248,000 in 2015. The highest amount was $103,613,000 in 2022.

This represents an increase of over 90% 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 $15,599,000 or 17.7% (from $88,014,000 to $103,613,000).

The smallest year-over-year increase was 6.6%, from $65,680,000 in 2017 to $70,186,000 in 2018. Similarly, direct premiums earned also increased overall from 2015 to 2022. The lowest amount was $52,049,000 in 2015 and the highest was $97,103,000 in 2022, representing an increase of over 86%.

Loss Ratios for Product Liability

The Products Liability loss ratio data in Washington presents notable patterns and variations throughout the years. The loss ratios demonstrate considerable fluctuations, with the lowest at 27.83% in 2017 and the highest at 69.65% in 2016.

Between 2015 and 2016, the loss ratio experienced a significant increase, growing from 37.96% to 69.65%. However, the subsequent year, 2017, saw a dramatic decline to 27.83%. The loss ratio then rose again in 2018 to 59.42% before settling at a relatively stable range in the following years. The years 2019 to 2021 exhibit relatively consistent loss ratios, ranging from 50.36% to 54.41%.

In 2022, the loss ratio decreased to 37.35%, which is close to the 2015 level of 37.96%. The overall trend indicates a period of substantial variability between 2016 and 2018, followed by stabilization in the subsequent years. The data suggests that the Products Liability market in Washington experienced significant shifts in the past years, with recent years showcasing a more stable loss ratio.

Direct and Earned Premiums for Private Passenger Auto

The data shows that direct premiums written for private passenger auto insurance in Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $4,428,005,000 in 2015. The highest amount was $5,970,242,000 in 2022. This represents an increase of over 35% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022, with the exception of 2020 which saw a slight decrease from $5,756,389,000 in 2019 to $5,599,295,000 in 2020. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew by 18.8%. The smallest year-over-year increase was 2.2%, from $5,599,295,000 in 2020 to $5,731,734,000 in 2021.

The direct premiums earned followed a similar pattern to the direct premiums written, with steady increases each year except for a slight dip in 2020. The lowest direct premiums earned was $4,325,735,000 in 2015 and the highest was $5,913,121,000 in 2022, representing a 36.7% increase. The largest year-over-year jump was 17.6% from 2016 to 2017, and the smallest was 1.2% from 2020 to 2021.

Loss Ratios for Private Passenger Auto

The Loss Ratio Percentages for Private Passenger Auto Total in Washington have shown interesting changes from 2015 to 2022. The loss ratios initially maintained a higher range from 69.13% in 2015 to 70.65% in 2016, then decreased to 67.14% in 2017. The year 2018 saw a further decrease to 63.39%, which slightly dipped to 63.05% in 2019. However, a significant drop was observed in 2020 with a loss ratio of 52.08%, marking the lowest percentage in the given period.

In contrast, 2021 signaled an increase to 64.43%, and a substantial surge occurred in 2022 with the loss ratio soaring to 83.29%, the highest rate across these years. This data depicts a downward trend from 2016 to 2020, followed by a considerable upswing in the subsequent years.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $547,835,000 in 2015. The highest amount was $1,114,971,000 in 2022.

This represents an increase of over 100% over the 8 year period. The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $98,778,000 or 9.7% (from $1,016,193,000 to $1,114,971,000). The smallest year-over-year increase was 6.8%, from $650,233,000 in 2017 to $699,313,000 in 2018.

The trends for direct premiums earned are similar, with the lowest amount being $529,644,000 in 2015 and the highest being $1,084,148,000 in 2022. This is an increase of over 100% as well. The largest year-over-year increase in direct premiums earned was 9.5% from 2021 to 2022 (from $958,056,000 to $1,084,148,000). The smallest was 6.3% from 2016 to 2017.

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in Washington unveils notable patterns and variations over the years. A close examination of the data highlights considerable fluctuations, with the highest loss ratio of 73.13% in 2017 and the lowest of 56.09% in 2020. Between 2015 and 2016, the loss ratios experienced a slight decrease from 64.37% to 62.13%.

However, 2017 witnessed a significant jump to 73.13%. This surge was followed by a drop to 62.43% in 2018, and a relatively stable period between 2019 and 2020, with loss ratios of 64.02% and 56.09%, respectively. The years 2021 and 2022 saw a steady increase in loss ratios, with 58.22% in 2021 and 63.45% in 2022.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $35,357,000 in 2015.

The highest amount was $55,876,000 in 2022. This represents an increase of over 58% over the 8 year period. The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $4,473,000 or 8.7% (from $51,403,000 to $55,876,000). The smallest year-over-year increase was 1.6%, from $37,753,000 in 2016 to $38,352,000 in 2017.

The direct premiums earned followed a similar trend, with the lowest amount being $34,383,000 in 2015 and the highest being $53,541,000 in 2022. This was an increase of over 55% over the period. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 6.8% (from $50,129,000 to $53,541,000). The smallest increase was 1.5% from 2016 to 2017.

Loss Ratios for Aircraft

The Aircraft line of business in Washington experienced noticeable changes in loss ratio percentages from 2015 to 2022. The loss ratio began at 43.38% in 2015, dipped to 18.51% in 2016, then rebounded sharply to 53.47% in 2017. A slight decrease to 51.34% was observed in 2018. However, a dramatic increase occurred in 2019, where the loss ratio skyrocketed to 204.71%.

The following year, 2020, still showed a high percentage at 133.78%, although it was a decrease from the previous year's peak. In 2021, the loss ratio reduced to 82.17%, but this downward trend did not persist into the following year. In 2022, the loss ratio surged again, reaching 167.86%. The data shows a pattern of significant fluctuations throughout the years, with the highest peaks recorded in 2019 and 2022.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written for fidelity insurance in Washington state increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $17,699,000 in 2015. The highest amount was $24,127,000 in 2022. This represents an increase of over 36% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022, with the exception of 2017 which saw a slight decrease from $18,955,000 in 2016 to $18,819,000 in 2017. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $4,120,000 or 17.8% (from $23,102,000 to $24,127,000). The smallest year-over-year increase was just 0.7%, from $20,708,000 in 2020 to $20,792,000 in 2021.

The direct premiums earned followed a similar pattern to the direct premiums written, steadily increasing each year from 2015 to 2022. The lowest amount was $17,850,000 in 2015 and the highest was $23,536,000 in 2022, an increase of 32% over the period. As with the direct premiums written, the only year-over-year decrease was seen in 2017 when direct premiums earned decreased from $18,082,000 in 2016 to $18,637,000 in 2017.

Loss Ratios for Fidelity

The Fidelity line of business in Washington demonstrated intriguing fluctuations in loss ratios between 2015 and 2022. While 2015 recorded a loss ratio of 37.77%, the figure dropped to 15.92% in 2016, marking the lowest point over the period. An increase was noted in 2017, with a loss ratio of 37.83%, yet it declined to 24.33% in 2018.

The most substantial spike was observed in 2019, with the loss ratio reaching a maximum of 61.44%. The subsequent years witnessed a generally declining trend, with loss ratios of 25.99%, 18.57%, and 30.49% recorded for 2020, 2021, and 2022 respectively.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in Washington state fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $138,073,000 in 2015. This increased to a high of $201,899,000 in 2019, before decreasing to $168,582,000 in 2021.

The direct premiums written then increased again to $177,463,000 in 2022. The direct premiums earned followed a similar pattern to the direct premiums written. The lowest amount was $140,599,000 in 2015. This increased steadily to a peak of $184,070,000 in 2019, before decreasing to $174,008,000 in 2021. It then increased again to $181,160,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $20,955,000 or 11.5% (from $181,944,000 to $201,899,000). The largest year-over-year decrease was from 2020 to 2021, when direct premiums written declined by $13,282,000 or 7.7% (from $171,864,000 to $168,582,000).

Loss Ratios for Surety

The Surety Loss Ratio Percentage in Washington has seen notable variations over the years. It began at a mere 1.68% in 2015, followed by a moderate hike to 5.03% in 2016. A significant leap occurred in 2017, reaching 14.53%, but unfortunately, data for 2018 and 2019 is unavailable.

Remarkably, 2020 witnessed a skyrocketing increase to 34.79%, the highest recorded within the period. However, this peak was short-lived as the ratio dropped to 15.89% in 2021, nearly mirroring the 2017 value. As of 2022, the loss ratio stands at 14.81%, indicating a slight decrease from the previous year.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Washington state increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $50,679,000 in 2015.

By 2022, this had grown to $130,458,000, representing an increase of 157%. Direct premiums earned also grew steadily, from $40,210,000 in 2015 to $66,191,000 in 2022, a 64% increase. Looking year-over-year, the largest increase in direct premiums written was from 2020 to 2021, when it jumped by 53% from $66,659,000 to $102,160,000.

The smallest yearly increase was just 1% between 2015 and 2016. For direct premiums earned, the biggest jump was from 2021 to 2022, when it grew by 16% from $76,630,000 to $66,191,000. The smallest increase was 3% between 2016 and 2017.

Loss Ratios for Warranty

The loss ratio data for Warranty in Washington depicts a fascinating pattern over the observed years. The loss ratios demonstrate a noticeable degree of fluctuation, from a low of 47.26% in 2016 to a high of 66.61% in 2022. A gradual increase in loss ratios was observed from 2015 to 2019, with the percentage rising from 48.55% to 56.83%.

However, a slight decline to 54.55% occurred in 2020, followed by a substantial drop to 48.28% in 2021. Interestingly, the year 2022 marked a significant jump in the loss ratio to 66.61%, the highest in the given period. These figures suggest an overall upward trend despite minor fluctuations, particularly between 2020 and 2021.