Top 10 medical professional liability insurers

10. MMIC Group

Direct premiums written in 2021: $187,775,233

Direct premiums earned in 2021: $180,307,739

Direct loss to EP ratio: 36.86

Market share: 1.69%

9. Chubb Limited Group

Direct premiums written in 2021: $201,436,917

Direct premiums earned in 2021: $178,526,362

Direct loss to EP ratio: 103.8

Market share: 1.81

8. Liberty Mutual Group

Direct premiums written in 2021: $307,729,293

Direct premiums earned in 2021: $275,001,419

Direct loss to EP ratio: 71.47

Market share: 2.77%

7. MCIC Vermont

Direct premiums written in 2021: $384,988,146

Direct premiums earned in 2021: $384,988,146

Direct loss to EP ratio: 94.56

Market share: 3.46%

6. MagMutual Insurance Group

Direct premiums written in 2021: $417,942,952

Direct premiums earned in 2021: $391,401,706

Direct loss to EP ratio: 52.19

Market share: 3.76%

5. Coverys Group

Direct premiums written in 2021: $574,677,418

Direct premiums earned in 2021: $575,292,525

Direct loss to EP ratio: 65.03

Market share: 5.17%

4. CNA Insurance Group

Direct premiums written in 2021: $638,679,985

Direct premiums earned in 2021: $638,076,284

Direct loss to EP ratio: 50.31

Market share: 5.75%

3. ProAssurance Corporation Group

Direct premiums written in 2021: $739,157,490

Direct premiums earned in 2021: $767,677,269

Direct loss to EP ratio: 56.21

Market share: 6.65%

2. Doctors Company Group

Direct premiums written in 2021: $1,070,668,983

Direct premiums earned in 2021: $1,015,317,215

Direct loss to EP ratio: 46.76

Market share: 9.63%

1. Berkshire Hathaway Group

Direct premiums written in 2021: $1,944,101,165

Direct premiums earned in 2021: 1,860,819,790

Direct loss to EP ratio: 48.7

Market share: 17.49%

Medical professional liability insurance, often referred to as “medical malpractice insurance” is imperative for physicians and other health care professionals, and it isn’t rare for these policies to be utilized. According to the American Medical Association (AMA), 34% of physicians have had a claim filed against them in their career. With such high risk involved, it’s no wonder premiums have been trending upward, especially since the beginning of the pandemic.

Between 2019 and 2021, the proportions that medical professional liability insurance (MPL) premiums increased to reached highs not seen since the early 2000s, says a report from the AMA. They found that in 2020, 31.1% of premiums reported to the Medical Liability Monitor increased from 2019; in 2021, 29.5% of premiums increased from the previous year. The last time premiums showed an increase as high as the one in 2020 was in 2005.

Despite this overall trend, direct premiums earned by insurers that provide medical professional liability coverage vary greatly state-to-state. In 2019, for example, while New York insurers reported over $1.5 billion in earned premiums from these policies, insurers in North Dakota reported just over $11 million, according to Statista.

In the slideshow above, we take a look at the top 10 insurers for medical professional liability coverage, as well as the earned premium, loss ratio and market share of those companies according to information from the National Association of Insurance Commissioners.

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