Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in West Virginia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $56,702,000 in 2017.

The highest was $77,927,000 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 $6,241,000 or 8.7% (from $71,686,000 to $77,927,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, ranging from a low of $56,888,000 in 2017 to a high of $73,860,000 in 2022. The largest year-over-year increase in direct premiums earned was between 2020 and 2021, growing by $4,852,000 or 6.7% (from $71,992,000 to $76,844,000).

Loss Ratios for Fire

The data for Fire insurance in West Virginia displays interesting variations over the years. Loss ratios witnessed a slight increase from 34.99% in 2015 to 35.47% in 2016, followed by a noticeable drop to 31.17% in 2017. A significant surge occurred in 2018, with the loss ratio reaching 47.24%, the highest point across the examined period.

The subsequent year, 2019, saw a decline to 35.16%, moderately close to the 2015 levels. In 2020, the ratio rose slightly to 38.2%, then dropped to 32.61% in 2021. The year 2022 exhibited an increase, with the ratio reaching 39.79%.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $35,391,000 in 2017. The highest amount was $52,774,000 in 2022. This represents an increase of over 49% 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 $5,667,000 or 12.0% (from $47,107,000 to $52,774,000). The smallest year-over-year increase was 0.8%, from $36,752,000 in 2015 to $37,140,000 in 2016.

Direct premiums earned followed a similar pattern to direct premiums written, with the low of $34,801,000 in 2017 and the high of $50,362,000 in 2022. This was an increase of over 45% between those years. The largest year-over-year increase in direct premiums earned was 13.1%, from $44,129,000 in 2020 to $50,362,000 in 2022. The smallest increase was 0.4%, from $35,891,000 in 2016 to $36,198,000 in 2017.

Loss Ratios for Allied Lines

Analyzing the loss ratio percentage for Allied Lines in West Virginia from 2015 to 2022 reveals significant variations. In 2015, the loss ratio stood at 72.83% before dramatically increasing to 118.96% in 2016. A major drop to 55.57% was observed in 2017, followed by a rise to 85.1% in 2018.

The most drastic decline in the data series was seen in 2019, where the loss ratio plummeted to 19.78%. However, a revival was seen in 2020 and 2021, with loss ratios of 41.99% and 52.79% respectively. The latest data from 2022 indicates a slight decrease to 43.71%.

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 West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $1,961,000 in 2015. This increased to $2,060,000 in 2016 before dropping slightly to $1,970,000 in 2017.

Direct premiums written then increased steadily from $2,035,000 in 2018 to $4,174,000 in 2022. This represents an overall increase of 113% over the 8 year period. Direct premiums earned followed a similar pattern, starting at $1,656,000 in 2015, peaking at $3,323,000 in 2021, and ending at $4,081,000 in 2022.

This was a 146% increase over the period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when premiums grew by $1,239,000 or 42.2% (from $2,935,000 to $4,174,000). The smallest year-over-year increase was just 1.2%, from $2,060,000 in 2016 to $2,127,000 in 2017.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio in West Virginia displays considerable oscillations over the observed years. The loss ratio peaked at an extraordinary 110.52% in 2019, the highest value within the period.

This sharply contrasts with a trough of 22.27% in 2016, demonstrating the volatility of the sector. The years 2015 and 2021 saw similar loss ratios of 77.56% and 74.76%, respectively, suggesting some level of cyclical recurrence.

Besides, the loss ratios for the latest years, 2021 and 2022, indicate a decrease from the previous peak, with 2022 standing at 60.16%. However, the overall trend from 2015 to 2018 showed a gradual decrease, with the loss ratio dropping to 43.01% in 2018.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $10,501,000 in 2022, down from $12,641,000 in 2021. This represents a decrease of 17%. The highest amount of direct premiums written was $13,093,000 in 2015.

Direct premiums written decreased from 2015 to 2017, going from $13,093,000 down to $12,348,000. This was a drop of 5.7% over those 3 years. After 2017, direct premiums written stayed relatively stable in the $12.3 million to $12.7 million range between 2018 and 2021. The exception was 2020, which saw an increase to $12,664,000. The pattern for direct premiums earned is similar.

The highest amount earned was $13,435,000 in 2015, matching the peak in direct premiums written. The lowest was $11,096,000 in 2022. Direct premiums earned decreased between 2015 and 2017, and then remained steady between $12.5 million and $12.7 million from 2018 to 2021 before dropping in 2022 along with direct premiums written.

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for West Virginia reveals a significant spike in 2016, reaching 229.26%, a drastic jump from the previous year's 20.26%. The following year, 2017, saw a reduction to 45.28%, still above the 2015 level. The loss ratio continued to decrease in 2018 to 37.81%.

However, in 2019, it plummeted to its lowest at 1.08%, before rising moderately to 6.54% in 2020. The recent years, 2021 and 2022, have seen an upward trend, with loss ratios of 22.03% and 33.7%, respectively.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and earned for private crop insurance in West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $1,000 in 2016. The highest amount was $12,000 in 2019. Direct premiums written increased sharply from $4,000 in 2017 to $12,000 in 2019, before decreasing to $4,000 in 2020 and then increasing again to $9,000 in 2022.

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the lowest amount being $1,000 in 2016 and the highest being $9,000 in 2022.

However, there was some divergence between premiums written and earned in certain years. For example, while $12,000 in premiums were written in 2019, only $10,000 were earned that year.

Loss Ratios for Private Crop

Analyzing the loss ratio percentage data for the Private Crop insurance line in West Virginia, we can discern interesting patterns and variations over the years. The loss ratios fluctuate, ranging from a null value in 2015 to a peak of 16.24% in 2019.

This suggests an increased claim period during the latter year. The subsequent drop to 12.38% in 2020 implies a reduction in claims or a boost in earned premiums. However, the data for 2017, 2018, 2021, and 2022 are not available, making trend analysis challenging.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in West Virginia fluctuated between 2016 and 2022.

The lowest amount of direct premiums written was $1,614,000 in 2016. This increased to $1,986,000 in 2017, before dropping to $1,805,000 in 2018.

Direct premiums written then declined again to $1,733,000 in 2019, before jumping to $3,000,000 in 2020 and further increasing to $5,047,000 in 2021. The highest amount of direct premiums written was $6,522,000 in 2022. Similarly, direct premiums earned started at $1,024,000 in 2016, peaked at $2,174,000 in 2017, and then declined over the next few years to $1,607,000 in 2019.

It then increased to $2,591,000 in 2020 and $3,716,000 in 2021, before reaching the highest amount of $5,751,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $2,047,000 or 68.2% (from $3,000,000 to $5,047,000). The smallest year-over-year increase was just 1.6%, from $1,805,000 in 2018 to $1,833,000 in 2019.

Loss Ratios for Private Flood

The Private Flood loss ratio data for West Virginia exhibits considerable fluctuations over the years. In 2016, the loss ratio was relatively low at 30.12%. However, a dramatic surge occurred in 2017, with the loss ratio skyrocketing to 260.38%. This significant rise was followed by a drastic decline in 2018, where the loss ratio plummeted to a mere 5.16%.

No data was available for 2019. Still, in 2020, the loss ratio was slightly higher than the previous year at 5.52%. A moderate increase was observed in 2021, with the loss ratio reaching 17.97%. Notably, 2022 marked a substantial increase in the loss ratio, which rose to 52.04%.

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 West Virginia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $14,364,000 in 2015. The highest was $18,898,000 in 2022. This represents an increase of over 30% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $1,815,000 or 10.3% (from $17,610,000 to $18,425,000). The smallest year-over-year increase was 2.6%, from $16,352,000 in 2018 to $16,730,000 in 2019.

The direct premiums earned followed a similar trend, increasing each year from 2015 to 2022. The lowest direct premiums earned was $13,835,000 in 2015. The highest was $18,316,000 in 2022. This represents an increase of over 32% over the period. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $1,675,000 or 9.7% (from $17,196,000 to $17,871,000). The smallest increase was 2.4%, from $15,901,000 in 2018 to $16,617,000 in 2019.

Loss Ratios for Farmowners Multiple Peril

The Loss Ratio Percentage for Farmowners Multiple Peril in West Virginia presents certain key trends from 2015 to 2022. The data displays a noticeable variability, with the highest loss ratio recorded at 48.39% in 2015, and the lowest at 33.94% in 2021.

Throughout the years, there's a general downward trend from 2015 (48.39%) to 2021 (33.94%), albeit punctuated by occasional increases such as in 2018 (46.75%). Notably, 2016 and 2019 showed similar loss ratios of 43.47% and 43.99% respectively, suggesting a brief stabilization. However, the loss ratio dropped again to 38.07% in 2020.

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 West Virginia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $427,551,000 in 2015. The highest amount was $526,080,000 in 2022. This represents an increase of over 23% 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 $30,860,000 or 6.2% (from $495,220,000 to $526,080,000). The smallest year-over-year increase was 2.1%, from $453,072,000 in 2018 to $462,844,000 in 2019.

The direct premiums earned followed a similar trend, with the lowest amount being $420,245,000 in 2015 and the highest being $508,755,000 in 2022. This was an increase of over 21% over the period. The largest year-over-year increase in direct premiums earned was 6.2% between 2021 and 2022 (from $479,696,000 to $508,755,000). The smallest increase was 1.6% between 2018 and 2019.

Loss Ratios for Homeowners Multiple Peril

Analysis of the loss ratio percentage for Homeowners Multiple Peril in West Virginia reveals notable variations from 2015 to 2022. The lowest loss ratio, 43.76%, was recorded in 2017. In contrast, the highest ratio of 63.91% was seen in 2018. Following the peak in 2018, there was a drop to 54.77% in 2019, and a slight decrease to 52.43% in 2020.

However, the ratio did not continue this downward trajectory, instead, recording a slight drop to 47.63% in 2021, before increasing again to 58.35% in 2022. Observing the years 2016 and 2022, they both showed relatively higher loss ratios of 56.89% and 58.35% respectively.

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 West Virginia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $204,764,000 in 2015. This increased each year, reaching a high of $251,393,000 in 2022. This represents an overall increase of 22.8% from 2015 to 2022. The direct premiums earned followed a similar trend, starting at $201,171,000 in 2015 and reaching $243,298,000 in 2022, a 20.9% increase.

Looking at year-over-year changes, the largest increase in direct premiums written was from 2021 to 2022, when it grew by $21,069,000 or 9.2% (from $230,324,000 to $251,393,000). The smallest year-over-year increase was just 0.9% from 2016 to 2017 ($198,266,000 to $202,395,000).

Loss Ratios for Commercial Multiple Peril

The loss ratio data for Commercial Multiple Peril in West Virginia showcases considerable fluctuations over the years. Loss ratios oscillated between a low of 35.73% in 2020 and a high of 55.37% in 2021.

From 2015 to 2016, the loss ratio experienced a significant increase, rising from 39.74% to 53.12%. However, a sharp decline occurred in 2017, with a 37.91% loss ratio. In the subsequent years, the loss ratios displayed a pattern of alternating increases and decreases.

In 2018, the loss ratio jumped to 55.15%, followed by a slight decrease to 48.77% in 2019. The year 2020 marked the lowest loss ratio at 35.73%, but 2021 witnessed a remarkable rebound to 55.37%. The most recent data, from 2022, indicates a loss ratio of 49.06%, illustrating a decline from the previous year.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in West Virginia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $12,741,000 in 2015. This increased each year, reaching a high of $16,849,000 in 2022. This represents an overall increase of 32% over the 8 year period. Direct premiums earned followed a similar trajectory, starting at $12,217,000 in 2015 and increasing to $17,285,000 in 2022. This was a 42% increase over the period.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $2,027,000 or 14%. The smallest increase was 1.4% from 2021 to 2022. For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $3,127,000 or 20.7%. The smallest increase was 2.9% between 2017 and 2018.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for West Virginia demonstrates notable variations across the years. Between 2015 and 2016, the loss ratios experienced a slight increase, moving from 29.48% to 31.07%. However, a sharp decline is observed in 2017, with a 16.24% loss ratio, which is nearly half of the previous year's value.

This downward trajectory continues into 2019, reaching its lowest point at 13.61%. Interestingly, the loss ratio rebounds significantly in 2020, registering at 29.16%, which is reminiscent of the values observed in 2015 and 2016. The year 2021 marks another drastic decrease, with a loss ratio of 8.38%, the lowest value in the entire data set.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in West Virginia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $3,276,000 in 2018, while the highest was $4,883,000 in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of decreases in 2017, 2018, and 2020. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $1,383,000 or 41.8% (from $3,311,000 to $4,694,000). The second largest increase was from 2021 to 2022, when direct premiums written grew by $389,000 or 8.3% (from $4,694,000 to $4,883,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the lowest amount being $3,278,000 in 2019 and the highest being $4,762,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2021 to 2022, when it grew by $864,000 or 22.2% (from $3,898,000 to $4,762,000).

Loss Ratios for Ocean Marine

The loss ratio data for Ocean Marine in West Virginia demonstrates varying patterns over the observed years. The loss ratios notably fluctuated, with a minimum of 15.12% in 2018 and a maximum of 168.87% in 2017.

A sudden spike in 2017 hints towards an outlier in the data, as it significantly deviates from the rest. Post-2017, a sharp decrease to 15.12% is observed, followed by a modest rise to 20.75% in 2019. This trend is disrupted in 2020 with a surge to 49.78%, nearly doubling the 2019 ratio. In recent years, 2021 and 2022, the loss ratios have stabilized somewhat, with figures of 27.55% and 33.01%, respectively.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in West Virginia increased overall from 2015 to 2022. The lowest amount of direct premiums written was $76,566,000 in 2015. This increased to $101,588,000 in 2022, representing an overall increase of 32.7% over the 8 year period.

Direct premiums earned followed a similar trend, growing from $77,666,000 in 2015 to $99,610,000 in 2022, an increase of 28.3%. Looking year-over-year, direct premiums written decreased slightly from 2015 to 2016, going from $76,566,000 to $72,570,000 (a 5.2% decrease). After 2016, direct premiums written increased each year through 2022. The largest year-over-year increase was from 2020 to 2021, when direct premiums written grew by $8,688,000 or 9.9% (from $88,028,000 to $96,716,000).

For direct premiums earned, the trends were similar, with a decrease from 2015 to 2016, followed by yearly increases through 2022. The biggest year-over-year jump was also from 2020 to 2021, when direct premiums earned increased by $6,215,000 or 7.2% (from $86,603,000 to $92,818,000).

Loss Ratios for Commercial Inland Marine

Inland Marine Loss Ratio Percentage in West Virginia reveals considerable variations from 2015 to 2022. The data shows the highest loss ratio of 78.85% in 2016, a significant increase from 44.61% in the preceding year. However, the loss ratio plunged to 47.27% in 2017, indicating a reduction of over 30% from the previous year.

A downward trend was observed from 2017 to 2020 as the loss ratios dropped to 41.29%, 45.51%, and 39.89% respectively. However, 2021 saw a slight increase to 43.33%, followed by a substantial decrease in 2022 to the lowest point in the dataset at 33.19%.

Direct and Earned Premiums for Financial Guaranty

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

The lowest amount of direct premiums written was $71,000 in 2017, while the highest was $1,021,000 in 2020. This represents an increase of over 1,300% from the low in 2017 to the high in 2020. Direct premiums written decreased from $253,000 in 2015 to $71,000 in 2017, before increasing again to $1,021,000 in 2020. The largest year-over-year increase was from 2019 to 2020, when direct premiums written grew by $1,021,000 (from $0 in 2019 to $1,021,000 in 2020).

The smallest year-over-year change was a decrease of $192,000 or -27% from $463,000 in 2016 to $271,000 in 2017. Similarly, direct premiums earned hit a low of $293,000 in 2021 before increasing to $876,000 in 2020. The largest year-over-year increase was from 2019 to 2020, when direct premiums earned grew by $533,000 or 155% (from $343,000 to $876,000).

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio data in West Virginia 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 West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $48,748,000 in 2020, while the highest was $96,095,000 in 2019.

This represents an increase of 97% from the low in 2020 to the high in 2019. Direct premiums written decreased from $63,887,000 in 2015 to $62,836,000 in 2016, before dropping more significantly to $59,221,000 in 2017. There was then an increase to $69,779,000 in 2018, followed by a large jump to $96,095,000 in 2019. 2020 saw a significant decrease to $48,748,000, but then rebounded to $65,207,000 in 2021 and $72,142,000 in 2022.

The trends for direct premiums earned are similar, starting at $63,493,000 in 2015, peaking at $97,507,000 in 2019, dropping to $47,159,000 in 2020, and ending at $68,455,000 in 2022. The lowest direct premiums earned was in 2020, while the highest was in 2019, for an increase of 106%.

Loss Ratios for Medical Professional Liability

An examination of the Medical Professional Liability loss ratios in West Virginia demonstrates a dynamic pattern between 2015 and 2022. The loss ratios peak at 122.71% in 2016, representing the highest value in the period. A dramatic drop is observed in 2017, with the ratio plummeting to a low of 10.48%, the lowest in the given years.

The ratio then climbs to 65.93% in 2018 and slightly drops to 56.98% in 2019. A significant increase is seen in 2020, with the ratio reaching 90.05%. However, a decrease is noticeable in 2021, with the ratio sliding to 39.34%. A modest ascent is observed in 2022, with the ratio at 49.29%.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in West Virginia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,244,000 in 2017, while the highest was $1,691,000 in 2022.

Direct premiums earned followed a similar pattern, with the lowest amount being $1,164,000 in 2017 and the highest being $1,579,000 in 2022. Overall, direct premiums written increased by 34% from $1,281,000 in 2015 to $1,691,000 in 2022.

Direct premiums earned grew at a slightly slower pace, increasing by 19% from $1,329,000 in 2015 to $1,579,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it jumped by $202,000 or 14%. The smallest year-over-year increase was just 1% between 2018 and 2019. For direct premiums earned, the biggest jump was also between 2021 and 2022 at 7%, while the smallest was between 2015 and 2016 at just 0.5%.

Loss Ratios for Earthquake

The Earthquake insurance loss ratio in West Virginia has seen substantial changes from 2015 to 2022. The lowest recorded loss ratio was in 2017 at 0.08%, while the highest was in 2018, soaring to 4.8%. Data for the years 2016 and 2021 is missing, which could potentially provide more insights into the trend.

From 2015 to 2017, there was a decrease in the loss ratio from 0.12% to 0.08%. However, a dramatic spike in 2018 disrupted this pattern, before it fell to 0.4% in 2019. The ratio again climbed to 0.71% in 2020, and the available data for 2022 shows another considerable rise to 4.39%.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in West Virginia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $220,740,000 in 2020. The highest amount was $324,086,000 in 2015. This represents a decrease of over 30% from 2015 to 2020.

Direct premiums written decreased each year from 2015 to 2017, going from $324,086,000 in 2015 to $268,901,000 in 2017. This was followed by increases in 2018 and 2019 before dropping again in 2020. The largest year-over-year decrease was from 2015 to 2016, when direct premiums written fell by $61,826,000 or 19.1% (from $324,086,000 to $262,260,000).

Direct premiums earned followed a similar pattern to direct premiums written over the time period, with the lowest amount being $230,612,000 in 2020 and the highest being $321,273,000 in 2015. This was a decrease of over 28% from 2015 to 2020. The largest year-over-year decrease for direct premiums earned was also from 2015 to 2016, falling by $43,402,000 or 13.5%.

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio in West Virginia has displayed a certain degree of fluctuation over the years. In 2015, the loss ratio was at a low of 24.0%, showing a sharp surge to 47.31% in 2016. It slightly decreased to 41.33% in 2017, only to spike again in 2018, reaching a peak of 56.83%.

It then fell to 36.89% in 2019 but rose to 42.46% in 2020. In 2021, it increased slightly to 48.35%, demonstrating a modest rise from the previous year. However, in 2022, a significant drop to 30.3% occurred.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in West Virginia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $6,024,000 in 2021. The highest amount was $11,999,000 in 2019.

Direct premiums earned followed a similar pattern, with the lowest amount being $6,257,000 in 2021 and the highest being $10,920,000 in 2019. Overall, direct premiums written decreased from $11,987,000 in 2015 to $6,024,000 in 2021, representing a nearly 50% decline over that period. However, direct premiums written then rebounded to $9,699,000 in 2022.

Direct premiums earned showed a similar trend, dropping from $12,630,000 in 2015 to $6,257,000 in 2021 before increasing to $9,573,000 in 2022. The largest year-over-year decrease for direct premiums written was from 2019 to 2020, when premiums dropped by $2,279,000 or 19%.

The largest increase was from 2021 to 2022, when premiums grew by $3,675,000 or 61%. For direct premiums earned, the biggest declines were also from 2019 to 2020 (-$1,640,000 or -15%) and the largest increase was from 2021 to 2022 ($3,316,000 or 53%).

Loss Ratios for Product Liability

The loss ratio data for Products Liability in West Virginia demonstrates notable shifts and trends over the years. A striking peak of 271.42% in 2016 stands out, followed by a significant drop to 78.05% in 2017. This fluctuation suggests a considerable change in the market dynamics or loss experience during that period.

The subsequent years exhibit a downward trend, with the loss ratio reaching its lowest point of 22.3% in 2019. However, this trend reverses in 2020, with the loss ratio increasing to 50.0%. The upward trend continues into 2021 and 2022, with loss ratios of 89.84% and 94.83%, 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 West Virginia increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $1,187,124,000 in 2015. This steadily increased each year, with the exception of a slight dip from $1,285,818,000 in 2019 to $1,259,917,000 in 2020.

The highest direct premiums written was $1,325,816,000 in 2022, representing an 11.7% increase from 2015. The direct premiums earned followed a similar trajectory, starting at $1,179,376,000 in 2015 and reaching $1,303,256,000 in 2022, a 10.5% increase.

The largest year-over-year growth for direct premiums written was from 2020 to 2021 at 2.2% (from $1,259,917,000 to $1,287,198,000). The smallest was just 0.5% from 2018 to 2019.

Loss Ratios for Private Passenger Auto

The Private Passenger Auto Total loss ratio in West Virginia displays notable variations between 2015 and 2022. The loss ratios fluctuated from a low of 51.47% in 2020 to a peak of 72.84% in 2022. A general decline is also observed from 2016's 60.85% to 2017's 55.35%, followed by an incremental rise reaching 60.42% in 2019.

Interestingly, a sharp drop occurred in 2020, only to rebound in 2021 with a similar rate of 60.39%. The most dramatic surge transpired in 2022, where the loss ratio skyrocketed to its highest at 72.84%.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $166,739,000 in 2015. This increased to $218,774,000 in 2022, representing an overall increase of 31% over the 8 year period.

Direct premiums written increased each year from 2015 to 2019. The largest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $10,839,000 or 5.4% (from $200,244,000 to $210,083,000). Direct premiums written then decreased in 2020 to $194,255,000 before rebounding in 2021 to $201,664,000 and increasing again in 2022 to $218,774,000.

Direct premiums earned followed a similar pattern to direct premiums written over the time period, with the lowest amount of $166,579,000 in 2015 and the highest of $211,966,000 in 2022. This represented a 27% increase. The largest year-over-year increase for direct premiums earned was from 2020 to 2021, when it grew by $10,361,000 or 5.0% (from $205,958,000 to $211,966,000).

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in West Virginia exhibits intriguing shifts over the examined period. Noteworthy is the broad fluctuation in loss ratios, with the lowest at 41.4% in 2021 and peaking at 62.21% in 2019. The data from 2015 to 2018 reveals a modest upward trend, with ratios climbing from 54.07% to 56.7%.

However, a sharp drop is observed in 2020, when the ratio falls to 43.91%, a drop of over 18 percentage points from the previous year. A slight decrease is seen in 2021, with a loss ratio of 41.4%. Interestingly, the ratio rebounded significantly in 2022, rising to 56.42%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $2,804,000 in 2017. The highest was $4,771,000 in 2022. This represents an increase of over 70% from the low point in 2017 to the high point in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of a dip from $2,960,000 in 2015 to $2,920,000 in 2016. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $896,000 or 23.1% (from $3,875,000 to $4,771,000).

The smallest year-over-year increase was just 2.4%, from $2,873,000 in 2019 to $2,939,000 in 2020. Direct premiums earned followed a similar pattern, ranging from a low of $2,617,000 in 2016 to a high of $4,394,000 in 2022. The largest year-over-year increase was 25.7%, from $3,980,000 in 2021 to $4,394,000 in 2022.

Loss Ratios for Aircraft

The loss ratio data for the Aircraft line of business in West Virginia presents some intriguing observations over the analyzed years. The loss ratios demonstrate a substantial variation, from a low of 36.93% in 2021 to an astonishing peak of 2198.05% in 2022. A few years, 2015 and 2016, show modest loss ratios of 52.24% and 37.31% respectively.

However, a significant surge in the loss ratio is seen in 2017, reaching 138.46%. A noteworthy anomaly occurs in 2018, where the data is missing or unreported. A noticeable spike is observed in 2019, where the loss ratio escalates to 254.85%, followed by a decline to 44.1% in 2020.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in West Virginia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $3,712,000 in 2018, while the highest was $4,216,000 in 2022. Direct premiums written increased from $4,010,000 in 2015 to $4,216,000 in 2022, representing an overall increase of 5.1% over the 8 year period.

Direct premiums earned followed a similar pattern, ranging from a low of $3,819,000 in 2019 to a high of $4,079,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by 7.3% (from $3,930,000 to $4,216,000).

The largest year-over-year increase for direct premiums earned was also from 2021 to 2022 at 2.2% (from $3,982,000 to $4,079,000). The only year-over-year declines were in direct premiums written from 2016 to 2017 (-5.7%) and direct premiums earned from 2015 to 2016 (-1.9%).

Loss Ratios for Fidelity

The loss ratio data for Fidelity in West Virginia demonstrates remarkable variations over the years 2015 to 2022.

The loss ratios fluctuate significantly, with the lowest point at 0.89% in 2017 and the highest at 39.59% in 2020. In the earlier years, there was a sharp decrease from a loss ratio of 33.12% in 2016 to the aforementioned 0.89% in 2017. This was followed by an increase to 16.8% in 2018.

A subsequent decline in 2019 led to a loss ratio of 4.92%. The most substantial change occurred between 2019 and 2020, with an increase of 34.67 percentage points, culminating in the highest loss ratio of 39.59%.

Recent years, 2021 and 2022, showcase a decrease in loss ratios to 11.57% and 15.55%, respectively. These figures indicate a relative stabilization compared to the dramatic shifts observed in prior years.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in West Virginia increased overall from 2015 to 2022, with some fluctuations.

The lowest amount of direct premiums written was $36,305,000 in 2015. This increased to a high of $50,140,000 in 2020, before dropping to $46,357,000 in 2021. In 2022, direct premiums written rebounded to $48,755,000.

Direct premiums earned followed a similar trajectory, starting at $35,187,000 in 2015, peaking at $48,777,000 in 2020, dropping to $47,665,000 in 2021, and ending at $48,345,000 in 2022. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $2,204,000 or 4.7% (from $46,996,000 to $49,160,000). The smallest year-over-year increase was 1.4%, from $42,654,000 in 2016 to $43,864,000 in 2017.

Loss Ratios for Surety

An analysis of the loss ratio data for Surety insurance in West Virginia reveals significant shifts over the examined period. The loss ratio percentage fluctuated from a low of 1.31% in 2022 to an exceptionally high peak of 100.16% in 2017. The years 2015 and 2016 maintained relatively low loss ratios of 16.63% and 11.00% respectively, before this dramatic surge in 2017.

In the subsequent year, 2018, the loss ratio fell sharply to 27.52%, before an unspecified value in 2019. The data for 2020 shows another decrease, with the loss ratio falling to 7.2%. The information for 2021, similar to 2019, is not specified.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in West Virginia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2,890,000 in 2017, while the highest was $4,701,000 in 2022.

Direct premiums written increased overall from 2015 to 2022, with the exception of a drop from $3,892,000 in 2015 to $2,890,000 in 2017. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $1,130,000 or 24.6% (from $4,589,000 to $4,619,000). The smallest year-over-year increase was just 1.2%, from $3,702,000 in 2018 to $3,745,000 in 2019. For direct premiums earned, the lowest amount was $3,118,000 in 2015 and the highest was $4,385,000 in 2022.

Unlike direct premiums written, direct premiums earned did not consistently increase year-over-year. The largest fluctuation was from 2015 to 2016, when direct premiums earned decreased by $789,000 or 25.3% (from $3,118,000 to $2,329,000). The smallest change was a 1.3% increase from $3,210,000 in 2017 to $3,254,000 in 2018.

Loss Ratios for Warranty

The Warranty line of business in West Virginia has seen considerable changes in its loss ratio percentages over the years. From 2015 to 2016, the loss ratios remained relatively stable, with a slight decrease from 50.63% to 50.17%. However, a steady increase was observed from 2017, starting at 52.96%, to peak at 75.56% in 2021.

The highest jump was seen between 2018 and 2019, with an increase of approximately 9.5 percentage points. Despite a slight dip to 61.13% in 2020, it was followed by a significant increase in 2021. The year 2022 shows a reduction to 69.5%, yet this figure is still higher than most previous years.