A Firm Foundation: How Insurance Supports the Economy

Property/casualty insurers pay out billions of dollars each year to settle claims. Many of the payments go to businesses, such as auto repair companies, that help claimants get their lives back together after an accident, fire, windstorm or other incident that caused the injury or property damage. Insurance claim payments support local businesses, enabling them to provide jobs and pay taxes that support the local economy. When life insurance claims are paid, funds flow into the general economy, as beneficiaries spend the money they receive. When property/casualty insurance claims are paid, funds flow to the industries that supply claimants with the goods and services necessary for their recovery. The following charts show incurred losses, i.e. losses occurring during a fixed period, whether or not adjusted or paid during the same period.

Incurred Losses By State, Property/Casualty Insurance, 2017 (1)

($000)

State Incurred losses State Incurred losses
Alabama $5,104,264 Montana $1,410,271
Alaska 844,581 Nebraska 3,340,270
Arizona 6,493,981 Nevada 3,247,454
Arkansas 2,780,295 New Hampshire 1,243,508
California 58,112,010 New Jersey 11,656,812
Colorado 9,156,574 New Mexico 2,084,079
Connecticut 4,494,046 New York 25,970,886
Delaware 1,407,646 North Carolina 8,496,319
D.C. 1,036,446 North Dakota 1,324,201
Florida 39,271,790 Ohio 8,251,531
Georgia 13,114,682 Oklahoma 4,049,679
Hawaii 1,367,157 Oregon 4,082,394
Idaho 1,820,678 Pennsylvania 12,774,124
Illinois 14,162,621 Rhode Island 1,214,987
Indiana 6,190,454 South Carolina 5,707,526
Iowa 3,690,528 South Dakota 1,391,812
Kansas 3,470,295 Tennessee 6,624,668
Kentucky 4,372,113 Texas 50,725,857
Louisiana 6,050,866 Utah 2,428,259
Maine 1,129,225 Vermont 564,504
Maryland 6,883,026 Virginia 7,784,985
Massachusetts 6,951,177 Washington 6,920,169
Michigan 12,262,443 West Virginia 1,531,462
Minnesota 6,980,515 Wisconsin 5,727,526
Mississippi 2,862,769 Wyoming 644,350
Missouri 7,301,468 United States $406,509,281

(1) Losses occurring within a fixed period whether or not adjusted or paid during the same period, on a direct basis before reinsurance.

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

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Incurred Losses By State, Private Passenger Auto Insurance, 2017 (1)

($000)

State Incurred losses State Incurred losses
Alaska $314,041 Montana $411,205
Alabama 2,163,043 Nebraska 860,459
Arizona 3,226,156 Nevada 1,688,025
Arkansas 1,198,932 New Hampshire 505,578
California 18,625,970 New Jersey 4,926,189
Colorado 3,621,116 New Mexico 914,028
Connecticut 1,906,622 New York 9,059,254
Delaware 586,852 North Carolina 3,997,191
D.C. 235,709 North Dakota 260,548
Florida 13,261,488 Ohio 3,983,859
Georgia 5,916,878 Oklahoma 1,504,946
Hawaii 447,382 Oregon 1,790,472
Idaho 596,777 Pennsylvania 5,401,625
Illinois 4,725,727 Rhode Island 606,543
Indiana 2,279,484 South Carolina 2,720,023
Iowa 1,113,383 South Dakota 344,543
Kansas 1,148,198 Tennessee 2,587,310
Kentucky 1,982,809 Texas 15,744,714
Louisiana 3,090,851 Utah 1,246,869
Maine 440,683 Vermont 209,206
Maryland 3,381,242 Virgina 3,509,583
Massachusetts 3,174,053 Washington 3,388,213
Michigan 7,274,070 West Virginia 678,378
Minnesota 2,253,567 Wisconsin 1,929,914
Mississipi 1,181,686 Wyoming 253,819
Missouri 2,564,790 United States $86,711,509

(1) Losses occurring within a fixed period whether or not adjusted or paid during the same period, on a direct basis before reinsurance.  

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

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Incurred Losses By State, Homeowners Insurance, 2017 (1)

($000)

State Incurred losses State Incurred losses
Alabama $911,785 Montana $138,443
Alaska 78,263 Nebraska 831,422
Arizona 758,282 Nevada 310,490
Arkansas 450,791 New Hampshire 167,682
California 15,537,312 New Jersey 1,027,437
Colorado 1,847,521 New Mexico 399,164
Connecticut 530,780 New York 2,255,396
Delaware 101,998 North Carolina 1,239,572
D.C. 74,814 North Dakota 66,665
Florida 8,338,668 Ohio 1,382,572
Georgia 2,281,253 Oklahoma 733,822
Hawaii 124,226 Oregon 556,768
Idaho 256,968 Pennsylvania 1,450,507
Illinois 2,872,152 Rhode Island 156,012
Indiana 1,084,975 South Carolina 721,977
Iowa 656,054 South Dakota 186,924
Kansas 639,267 Tennessee 1,057,190
Kentucky 600,526 Texas 6,923,450
Louisiana 616,808 Utah 285,032
Maine 197,973 Vermont 91,470
Maryland 903,136 Virgina 1,294,734
Massachusetts 738,068 Washington 936,217
Michigan 1,477,520 West Virginia 191,015
Minnesota 1,855,159 Wisconsin 821,867
Mississipi 453,816 Wyoming 134,152
Missouri 1,323,972 United States $44,712,084

(1) Losses occurring within a fixed period whether or not adjusted or paid during the same period, on a direct basis before reinsurance.

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

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Incurred Losses By State, Commercial Insurance, 2017 (1)

($000)

State Incurred losses State Incurred losses
Alabama $1,928,273 Montana $807,159
Alaska 443,063 Nebraska 1,437,794
Arizona 2,430,346 Nevada 1,222,748
Arkansas 1,071,138 New Hampshire 542,395
California 23,074,869 New Jersey 5,567,523
Colorado 3,584,356 New Mexico 735,018
Connecticut 2,004,376 New York 14,333,172
Delaware 649,864 North Carolina 3,125,029
D.C. 685,534 North Dakota 916,495
Florida 17,443,457 Ohio 2,625,184
Georgia 4,681,475 Oklahoma 1,671,479
Hawaii 785,333 Oregon 1,629,661
Idaho 887,780 Pennsylvania 5,588,566
Illinois 6,200,515 Rhode Island 442,866
Indiana 2,498,782 South Carolina 2,177,300
Iowa 1,676,262 South Dakota 773,575
Kansas 1,494,815 Tennessee 2,796,851
Kentucky 1,665,873 Texas 27,387,739
Louisiana 2,300,704 Utah 844,603
Maine 471,229 Vermont 245,094
Maryland 2,533,930 Virgina 2,826,933
Massachusetts 2,978,951 Washington 2,463,108
Michigan 3,257,866 West Virginia 624,322
Minnesota 2,686,584 Wisconsin 2,707,541
Mississipi 1,165,296 Wyoming 218,242
Missouri 3,153,603 United States $91,754,274

(1) Losses occurring within a fixed period whether or not adjusted or paid during the same period, on a direct basis before reinsurance.  

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

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Incurred Losses By State, Workers Compensation Insurance, 2017 (1)

($000)

State Incurred losses State Incurred losses
Alabama $176,437 Montana $163,526
Alaska 105,672 Nebraska 209,544
Arizona 469,656 Nevada 174,104
Arkansas 125,986 New Hampshire 112,784
California 6,011,058 New Jersey 1,323,660
Colorado 528,620 New Mexico 114,313
Connecticut 458,748 New York 3,242,825
Delaware 72,980 North Carolina 602,170
D.C. 112,772 North Dakota 683
Florida 1,688,733 Ohio 9,978
Georgia 824,447 Oklahoma 254,466
Hawaii 156,256 Oregon 322,169
Idaho 260,286 Pennsylvania 1,112,075
Illinois 1,154,306 Rhode Island 115,491
Indiana 366,081 South Carolina 447,122
Iowa 449,446 South Dakota 77,045
Kansas 199,467 Tennessee 378,647
Kentucky 376,290 Texas 855,626
Louisiana 366,253 Utah 182,566
Maine 145,179 Vermont 97,560
Maryland 535,091 Virgina 631,011
Massachusetts 770,369 Washington 10,496
Michigan 465,029 West Virginia 111,717
Minnesota 513,035 Wisconsin 1,114,273
Mississipi 181,370 Wyoming 566
Missouri 517,850 United States $17,031,418

(1) Losses occurring within a fixed period whether or not adjusted or paid during the same period, on a direct basis before reinsurance.

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

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Life Insurance Claims And Benefits Paid By State, 2017 (1)

($000)

State Incurred losses State Incurred losses
Alabama $5,783,196 Montana $1,143,322
Alaska 1,043,621 Nebraska 3,555,187
Arizona 9,635,139 Nevada 2,973,536
Arkansas 2,929,500 New Hampshire 2,733,356
California 49,712,978 New Jersey 20,620,200
Colorado 8,025,467 New Mexico 2,476,972
Connecticut 21,504,856 New York 42,760,880
Delaware 12,517,265 North Carolina 16,392,113
D.C. 2,110,613 North Dakota 1,144,214
Florida 34,171,576 Ohio 19,966,748
Georgia 13,338,035 Oklahoma 5,613,329
Hawaii 2,436,644 Oregon 5,565,018
Idaho 1,996,330 Pennsylvania 24,910,828
Illinois 21,127,344 Rhode Island 1,939,775
Indiana 9,754,870 South Carolina 6,526,239
Iowa 7,606,423 South Dakota 1,365,396
Kansas 4,590,045 Tennessee 9,410,224
Kentucky 5,830,964 Texas 30,845,002
Louisiana 6,280,088 Utah 3,805,776
Maine 2,009,390 Vermont 1,056,817
Maryland 9,685,825 Virgina 11,998,252
Massachusetts 16,163,602 Washington 9,086,861
Michigan 17,930,509 West Virginia 2,138,764
Minnesota 12,898,961 Wisconsin 10,383,029
Mississipi 2,955,833 Wyoming 843,230
Missouri 11,086,371 United States $293,125,445

(1) On a direct basis before reinsurance. Includes life insurance, death benefits, matured endowments, annuity benefits, and other life insurance benefits. Does not include accident and health benefits.

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

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