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 charts below 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, 2016 (1)

($000)

State Incurred losses
Alabama $4,702,498
Alaska 748,965
Arizona 6,262,281
Arkansas 3,393,075
California 42,601,889
Colorado 8,129,467
Connecticut 4,353,785
Delaware 1,368,479
D.C. 1,135,442
Florida 25,578,739
Georgia 12,152,213
Hawaii 1,023,805
Idaho 1,410,960
Illinois 13,499,993
Indiana 6,156,129
Iowa 3,058,337
Kansas 3,134,387
Kentucky 4,248,513
Louisiana 9,459,225
Maine 1,015,724
Maryland 6,632,433
Massachusetts 7,141,010
Michigan 12,149,171
Minnesota 5,754,919
Mississippi 2,748,757
Missouri 6,687,016
Montana 1,653,947
Nebraska 2,974,883
Nevada 3,220,734
New Hampshire 1,092,834
New Jersey 11,841,981
New Mexico 1,984,835
New York 26,031,972
North Carolina 8,924,484
North Dakota 1,583,971
Ohio 8,247,122
Oklahoma 4,110,977
Oregon 3,648,622
Pennsylvania 13,570,725
Rhode Island 1,261,050
South Carolina 6,014,985
South Dakota 1,159,593
Tennessee 6,856,636
Texas 37,067,174
Utah 2,495,715
Vermont 549,899
Virginia 7,730,072
Washington 6,436,211
West Virginia 1,742,627
Wisconsin 5,416,884
Wyoming 680,532
United States $360,845,678

(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 2015 (1)

($000)

State Incurred losses
Alabama $1,906,584
Alaska 276,066
Arizona 2,675,839
Arkansas 1,122,587
California 15,382,937
Colorado 2,660,670
Connecticut 1,719,905
Delaware 508,204
D.C. 211,528
Florida 10,856,351
Georgia 4,940,476
Hawaii 412,644
Idaho 492,323
Illinois 4,196,591
Indiana 2,111,071
Iowa 936,035
Kansas 1,000,509
Kentucky 1,792,355
Louisiana 2,693,795
Maine 386,177
Maryland 3,023,817
Massachusetts 3,009,128
Michigan 6,455,177
Minnesota 1,900,053
Mississipi 1,072,867
Missouri 2,229,659
Montana 415,385
Nebraska 667,420
Nevada 1,398,463
New Hampshire 447,432
New Jersey 4,595,868
New Mexico 791,723
New York 8,054,371
North Carolina 3,371,399
North Dakota 253,542
Ohio 3,645,228
Oklahoma 1,509,122
Oregon 1,596,712
Pennsylvania 5,169,358
Rhode Island 564,885
South Carolina 2,346,406
South Dakota 323,744
Tennessee 2,222,227
Texas 12,318,242
Utah 1,058,844
Vermont 198,602
Virginia 3,127,496
Washington 2,990,379
West Virginia 683,720
Wisconsin 1,720,781
Wyoming 211,180
United States $133,655,881

(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, 2015 (1)

($000)

State Incurred losses
Alabama $695,522
Alaska 68,533
Arizona 706,165
Arkansas 477,411
California 4,256,929
Colorado 1,216,908
Connecticut 712,339
Delaware 105,045
D.C. 73,947
Florida 2,561,932
Georgia 1,544,701
Hawaii 116,398
Idaho 186,335
Illinois 2,033,522
Indiana 810,386
Iowa 247,267
Kansas 421,966
Kentucky 547,226
Louisiana 521,775
Maine 174,385
Maryland 867,844
Massachusetts 2,287,622
Michigan 1,380,401
Minnesota 946,558
Mississipi 344,033
Missouri 1,040,003
Montana 184,326
Nebraska 239,185
Nevada 243,529
New Hampshire 233,563
New Jersey 1,250,623
New Mexico 312,230
New York 2,472,192
North Carolina 1,016,431
North Dakota 66,051
Ohio 1,168,420
Oklahoma 932,634
Oregon 378,010
Pennsylvania 1,639,896
Rhode Island 332,111
South Carolina 601,532
South Dakota 177,116
Tennessee 814,940
Texas 4,161,924
Utah 207,436
Vermont 84,010
Virginia 906,159
Washington 976,648
West Virginia 199,798
Wisconsin 559,545
Wyoming 84,436
United States $43,587,896

(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 2015 (1)

($000)

State Incurred losses
Alabama $1,419,112
Alaska 363,728
Arizona 2,003,706
Arkansas 1,254,554
California 19,541,990
Colorado 2,414,087
Connecticut 2,070,338
Delaware 730,994
D.C. 433,554
Florida 8,501,510
Georgia 3,838,360
Hawaii 468,302
Idaho 659,553
Illinois 6,830,931
Indiana 2,566,434
Iowa 1,835,903
Kansas 1,402,724
Kentucky 1,867,224
Louisiana 2,343,340
Maine 455,772
Maryland 2,506,106
Massachusetts 3,469,767
Michigan 3,050,107
Minnesota 2,722,581
Mississipi 1,051,255
Missouri 2,873,340
Montana 610,515
Nebraska 1,229,100
Nevada 1,152,076
New Hampshire 462,900
New Jersey 6,125,955
New Mexico 767,124
New York 14,427,862
North Carolina 2,976,335
North Dakota 714,856
Ohio 2,887,160
Oklahoma 1,937,525
Oregon 1,256,062
Pennsylvania 6,158,809
Rhode Island 649,997
South Carolina 2,041,220
South Dakota 573,390
Tennessee 2,520,768
Texas 12,032,177
Utah 869,470
Vermont 325,623
Virginia 2,501,229
Washington 2,283,069
West Virginia 495,327
Wisconsin 2,489,079
Wyoming 182,318
United States $144,345,217

(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 2015 (1)

($000)

State Incurred losses
Alabama $174,567
Alaska 138,768
Arizona 499,695
Arkansas 119,775
California 6,824,643
Colorado 599,272
Connecticut 568,627
Delaware 119,434
D.C. 90,055
Florida 1,492,870
Georgia 823,370
Hawaii 137,642
Idaho 265,304
Illinois 1,497,976
Indiana 477,726
Iowa 437,508
Kansas 229,536
Kentucky 388,380
Louisiana 435,474
Maine 126,394
Maryland 579,489
Massachusetts 795,078
Michigan 522,625
Minnesota 575,678
Mississipi 198,102
Missouri 535,681
Montana 157,412
Nebraska 221,674
Nevada 160,502
New Hampshire 121,182
New Jersey 1,498,952
New Mexico 156,288
New York 3,561,668
North Carolina 735,171
North Dakota 684
Ohio 13,597
Oklahoma 444,347
Oregon 344,003
Pennsylvania 1,622,926
Rhode Island 132,976
South Carolina 504,079
South Dakota 97,071
Tennessee 450,214
Texas 1,226,817
Utah 228,647
Vermont 117,213
Virginia 672,906
Washington 1,416
West Virginia 77,099
Wisconsin 1,134,372
Wyoming 3,734
United States $32,338,616

(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, 2015 (1)

($000)

State Incurred losses
Alabama $5,402,371
Alaska 1,124,489
Arizona 8,709,067
Arkansas 2,855,016
California 45,711,436
Colorado 7,716,105
Connecticut 17,827,167
Delaware 7,301,431
D.C. 2,405,674
Florida 31,781,067
Georgia 10,951,080
Hawaii 2,800,156
Idaho 1,836,051
Illinois 18,729,786
Indiana 9,167,815
Iowa 5,333,271
Kansas 4,595,145
Kentucky 4,967,446
Louisiana 5,695,238
Maine 2,153,539
Maryland 9,271,912
Massachusetts 14,230,104
Michigan 16,828,307
Minnesota 10,760,355
Mississipi 2,802,160
Missouri 10,133,759
Montana 1,095,615
Nebraska 3,421,982
Nevada 3,036,299
New Hampshire 2,573,916
New Jersey 20,833,249
New Mexico 2,371,793
New York 42,064,398
North Carolina 12,850,918
North Dakota 989,103
Ohio 18,193,176
Oklahoma 3,864,466
Oregon 5,464,001
Pennsylvania 23,591,965
Rhode Island 1,840,121
South Carolina 5,764,681
South Dakota 1,200,421
Tennessee 8,312,219
Texas 27,591,431
Utah 3,784,493
Vermont 1,099,179
Virgina 10,737,563
Washington 8,314,868
West Virginia 2,063,559
Wisconsin 9,191,887
Wyoming 714,362
United States $472,149,363

(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.

View Archived Tables