| Defense Costs And Cost Containment Expenses As A Percent of Incurred Losses, 2020-2022 (1) |
($000)
|
| |
2020 |
2021 |
2022 |
| |
Amount |
As a percent
of incurred losses |
Amount |
As a percent
of incurred losses |
Amount |
As a percent
of incurred losses |
| Product liability |
$667,390 |
60.9% |
$712,979 |
46.6% |
$748,723 |
45.6% |
| Medical professional liability |
2,100,614 |
42.4 |
1,977,556 |
36.7 |
1,842,684 |
35.8 |
| Commercial multiple peril (2) |
2,205,799 |
28.4 |
2,272,005 |
30.0 |
2,234,957 |
21.7 |
| Other liability |
7,140,907 |
17.8 |
6,931,883 |
15.9 |
7,051,178 |
13.6 |
| Workers compensation |
2,348,618 |
11.5 |
2,546,513 |
12.5 |
2,914,828 |
14.0 |
| Commercial auto liability |
2,028,971 |
10.5 |
2,137,726 |
10.1 |
2,412,353 |
9.2 |
| Private passenger auto liability |
5,425,879 |
6.6 |
5,378,233 |
5.6 |
5,909,920 |
5.0 |
| All liability lines |
$21,918,178 |
12.5% |
$21,956,895 |
11.2% |
$23,114,643 |
9.9% |
(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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