| Defense Costs And Cost Containment Expenses As A Percent of Incurred Losses, 2019-2021 (1) |
($000)
|
| |
2019 |
2020 |
2021 |
| |
Amount |
As a percent
of incurred losses |
Amount |
As a percent
of incurred losses |
Amount |
As a percent
of incurred losses |
| Product liability |
$668,418 |
50.4% |
$667,390 |
60.9% |
$712,976 |
46.6% |
| Medical professional liability |
1,910,421 |
40.7 |
2,100,614 |
42.4 |
1,976,972 |
36.7 |
| Commercial multiple peril (2) |
2,531,192 |
32.9 |
2,205,799 |
28.4 |
2,269,930 |
30.0 |
| Other liability |
6,569,424 |
19.1 |
7,140,769 |
17.8 |
6,930,792 |
15.9 |
| Workers compensation |
2,787,561 |
13.1 |
2,348,365 |
11.5 |
2,546,513 |
12.5 |
| Commercial auto liability |
2,132,765 |
10.5 |
2,028,971 |
10.5 |
2,136,219 |
10.1 |
| Private passenger auto liability |
6,574,588 |
6.8 |
5,425,870 |
6.6 |
5,378,643 |
5.6 |
| All liability lines |
$23,174,369 |
12.5% |
21,917,778 |
12.5% |
$21,952,045 |
11.2% |
(1) Net of reinsurance, excluding state funds.
(2) Liability portion only.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute. |
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