Fact file: Pennsylvania hurricane insurance

January 2021

  • Pennsylvania was one of over a dozen states impacted by Hurricane Sandy in October 2012. Sandy caused $30 billion in U.S. property losses when it occurred, including flood insurance claims covered by the federal flood insurance program, according to Aon. This makes Sandy the second most costly U.S. hurricane, after hurricane Katrina.
  • Pennsylvania was one of 14 states impacted by Hurricane Irene in August 2011. Irene impacted a total of 14 states, causing a total of $4.3 billion in insured property damage, not including flood losses covered under the National Flood Insurance Program (NFIP), according to ISO. The NFIP puts its claims payouts from Irene at $1.3 billion (in all states).
  • There were 55,445 flood insurance policies in Pennsylvania in 2018. Standard homeowners policies typically do not cover flood damage. Flood insurance is covered by the National Flood Insurance Program.

 

Top 10 Writers Of Commercial Insurance In Pennsylvania By Direct Premiums Written, 2019 (1)

 

Rank Group/company Direct premiums written ($000) Market share
1 Travelers Companies Inc. $775,483 6.0%
2 Erie Insurance Group 677,820 5.2
3 Liberty Mutual 614,777 4.7
4 Chubb 614,067 4.7
5 Zurich 570,983 4.4
6 CNA 418,663 3.2
7 American International Group (AIG) 416,525 3.2
8 Nationwide Mutual Group 353,714 2.7
9 Berkshire Hathaway Inc. 344,286 2.7
10 Selective 298,270 2.3

(1) Before reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables

Top 10 Writers Of Homeowners Insurance In Pennsylvania By Direct Premiums Written, 2019 (1)

 

Rank Group/company Direct premiums written ($000) Market share
1 State Farm $607,312 17.3%
2 Erie Insurance Group 543,994 15.5
3 Allstate Corp. 459,033 13.0
4 Liberty Mutual 297,776 8.5
5 Nationwide Mutual Group 256,424 7.3
6 Travelers Companies Inc. 231,865 6.6
7 USAA Insurance Group 152,190 4.3
8 Chubb 108,540 3.1
9 Farmers Insurance Group 88,961 2.5
10 Donegal Insurance Group 67,849 1.9

(1) Before reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables

Top 10 Writers Of Private Passenger Auto Insurance In Pennsylvania By Direct Premiums Written, 2019 (1)

 

Rank Group/company Direct premiums written ($000) Market share
1 State Farm $1,712,794 18.6%
2 Erie Insurance 1,241,764 13.5
3 Progressive 1,056,385 11.5
4 Allstate Corp. 1,034,806 11.2
5 Berkshire Hathaway Inc. 810,863 8.8
6 Nationwide 681,512 7.4
7 Liberty Mutual 470,153 5.1
8 USAA 336,597 3.7
9 Travelers 320,846 3.5
10 Farmers Insurance 208,061 2.3

(1) Before reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

View Archived Tables

Top 10 Costliest Hurricanes In The United States (1)

($ millions)

      Estimated insured loss
Rank Year Hurricane Dollars when occurred In 2020 dollars (2)
1 2005 Hurricane Katrina $65,000 $85,570
2 2012 Hurricane Sandy 30,000 33,530
3 2017 Hurricane Harvey 30,000 31,590
4 2017 Hurricane Irma 29,900 31,320
5 2017 Hurricane Maria 29,670 31,100
6 1992 Hurricane Andrew 16,000 29,360
7 2008 Hurricane Ike 18,200 21,510
8 2005 Hurricane Wilma 10,670 13,840
9 2018 Hurricane Michael 13,250 13,550
10 2004 Hurricane Ivan 8,720 11,870

(1) Includes Puerto Rico and the U.S. Virgin Islands and losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Includes hurricanes that occurred through 2019. Subject to change as loss estimates are further developed. As of November 25, 2020. Ranked on insured losses in 2020 dollars.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.

Source: Aon.

View Archived Tables

 

Other Resources

I.I.I. Facts & Stats: Flood Insurance

I.I.I. Facts & Stats: Hurricanes

I.I.I. Issues Updates: Catastrophes

I.I.I. Issues Updates: Hurricane and Windstorm Deductibles

Back to top