A Firm Foundation: How Insurance Supports the Economy

Property/casualty (P/C) 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 P/C 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, 2018 (1)

($000)

State Incurred losses State Incurred losses
Alabama $5,403,593 Montana $1,389,000
Alaska 913,240 Nebraska 2,660,217
Arizona 6,869,366 Nevada 4,058,416
Arkansas 3,240,912 New Hampshire 1,255,000
California 56,835,067 New Jersey 12,843,320
Colorado 11,163,576 New Mexico 2,258,969
Connecticut 5,076,488 New York 27,755,699
Delaware 1,421,548 North Carolina 12,491,658
D.C. 932,665 North Dakota 1,213,388
Florida 38,581,454 Ohio 8,346,182
Georgia 13,938,391 Oklahoma 4,043,739
Hawaii 1,167,833 Oregon 3,518,503
Idaho 1,817,885 Pennsylvania 14,543,588
Illinois 14,531,584 Rhode Island 1,433,537
Indiana 5,837,873 South Carolina 5,587,254
Iowa 4,465,075 South Dakota 1,356,756
Kansas 3,503,390 Tennessee 5,857,635
Kentucky 4,417,634 Texas 31,165,197
Louisiana 6,360,741 Utah 2,703,200
Maine 1,114,748 Vermont 631,895
Maryland 7,766,651 Virginia 8,389,610
Massachusetts 7,971,753 Washington 6,986,590
Michigan 13,001,444 West Virginia 1,755,893
Minnesota 6,374,792 Wisconsin 6,083,560
Mississippi 2,805,252 Wyoming 851,329
Missouri 6,579,523 United States $401,272,611

(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, 2018 (1)

($000)

State Incurred losses State Incurred losses
Alabama $2,228,290 Montana $438,807
Alaska 312,404 Nebraska 727,216
Arizona 3,326,165 Nevada 1,748,469
Arkansas 1,223,162 New Hampshire 518,349
California 19,155,621 New Jersey 5,051,099
Colorado 4,157,208 New Mexico 937,936
Connecticut 1,927,963 New York 9,292,217
Delaware 571,158 North Carolina 4,164,049
D.C. 245,079 North Dakota 278,220
Florida 13,459,642 Ohio 3,932,275
Georgia 6,031,118 Oklahoma 1,468,235
Hawaii 448,440 Oregon 1,789,696
Idaho 629,928 Pennsylvania 5,569,513
Illinois 4,753,351 Rhode Island 603,720
Indiana 2,312,424 South Carolina 2,749,358
Iowa 1,113,627 South Dakota 367,631
Kansas 1,161,140 Tennessee 2,625,799
Kentucky 1,953,437 Texas 13,171,824
Louisiana 3,100,919 Utah 1,363,636
Maine 441,487 Vermont 214,280
Maryland 3,463,637 Virginia 3,623,462
Massachusetts 3,210,456 Washington 3,441,088
Michigan 7,896,837 West Virginia 744,573
Minnesota 2,254,508 Wisconsin 1,956,115
Mississippi 1,191,578 Wyoming 275,770
Missouri 2,536,970 United States $156,159,886

(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, 2018 (1)

($000)

State Incurred losses State Incurred losses
Alabama $1,090,658 Montana $173,787
Alaska 100,859 Nebraska 384,676
Arizona 1,028,336 Nevada 315,521
Arkansas 612,384 New Hampshire 188,457
California 14,176,373 New Jersey 1,473,504
Colorado 3,024,658 New Mexico 341,004
Connecticut 1,014,471 New York 2,991,783
Delaware 147,222 North Carolina 2,460,298
D.C. 117,061 North Dakota 92,265
Florida 9,717,195 Ohio 1,337,015
Georgia 2,404,014 Oklahoma 591,910
Hawaii 183,789 Oregon 386,985
Idaho 362,711 Pennsylvania 1,993,042
Illinois 2,419,038 Rhode Island 225,788
Indiana 923,085 South Carolina 723,100
Iowa 533,054 South Dakota 185,929
Kansas 486,110 Tennessee 955,255
Kentucky 590,670 Texas 4,069,510
Louisiana 657,619 Utah 326,968
Maine 161,897 Vermont 85,252
Maryland 1,630,930 Virginia 1,747,816
Massachusetts 1,070,236 Washington 943,232
Michigan 1,418,857 West Virginia 286,739
Minnesota 1,248,328 Wisconsin 753,849
Mississippi 401,859 Wyoming 260,302
Missouri 923,061 United States $69,738,457

(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, 2018 (1)

($000)

State Incurred losses State Incurred losses
Alabama $1,922,940 Montana $715,492
Alaska 491,635 Nebraska 1,352,043
Arizona 2,431,783 Nevada 1,975,068
Arkansas 1,352,870 New Hampshire 538,736
California 23,107,119 New Jersey 6,237,493
Colorado 3,817,114 New Mexico 972,374
Connecticut 2,092,815 New York 15,130,650
Delaware 620,339 North Carolina 5,704,928
D.C. 509,176 North Dakota 745,840
Florida 15,234,497 Ohio 2,845,700
Georgia 5,198,283 Oklahoma 1,856,086
Hawaii 524,265 Oregon 1,233,757
Idaho 772,008 Pennsylvania 6,710,076
Illinois 7,080,332 Rhode Island 600,383
Indiana 2,328,907 South Carolina 2,061,741
Iowa 2,649,506 South Dakota 715,088
Kansas 1,678,781 Tennessee 2,157,997
Kentucky 1,758,063 Texas 13,370,952
Louisiana 2,578,601 Utah 951,848
Maine 492,716 Vermont 316,390
Maryland 2,586,656 Virginia 2,882,069
Massachusetts 3,653,846 Washington 2,510,946
Michigan 3,526,883 West Virginia 691,200
Minnesota 2,732,251 Wisconsin 3,140,083
Mississippi 1,185,558 Wyoming 270,439
Missouri 2,932,856 United States $168,947,178

(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, 2018 (1)

($000)

State Incurred losses State Incurred losses
Alaska $81,627 Montana $147,899
Alabama 144,439 Nebraska 197,338
Arizona 431,494 Nevada 223,222
Arkansas 85,305 New Hampshire 99,402
California 5,097,924 New Jersey 1,188,103
Colorado 522,142 New Mexico 140,916
Connecticut 348,533 New York 2,765,887
Delaware 67,919 North Carolina 510,160
D.C. 49,540 North Dakota -323
Florida 1,714,939 Ohio 10,631
Georgia 776,046 Oklahoma 276,656
Hawaii 163,426 Oregon 147,985
Idaho 258,699 Pennsylvania 1,311,024
Illinois 1,102,416 Rhode Island 128,556
Indiana 414,064 South Carolina 347,849
Iowa 343,285 South Dakota 76,994
Kansas 205,598 Tennessee 248,193
Kentucky 353,904 Texas 1,161,832
Louisiana 386,876 Utah 213,076
Maine 129,731 Vermont 81,801
Maryland 444,859 Virginia 483,644
Massachusetts 730,912 Washington -693
Michigan 363,664 West Virginia 156,920
Minnesota 427,607 Wisconsin 1,026,360
Mississippi 153,281 Wyoming 1,121
Missouri 550,515 United States $26,293,300

(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, 2018 (1)

($000)

State Incurred losses State Incurred losses
Alabama $6,043,002 Montana $1,278,196
Alaska 1,450,385 Nebraska 3,942,582
Arizona 10,589,725 Nevada 3,503,676
Arkansas 3,247,155 New Hampshire 2,934,643
California 52,428,371 New Jersey 22,135,051
Colorado 8,877,767 New Mexico 2,342,605
Connecticut 24,018,896 New York 52,148,576
Delaware 10,929,716 North Carolina 18,733,881
D.C. 2,099,703 North Dakota 1,252,428
Florida 38,827,525 Ohio 21,036,847
Georgia 13,749,299 Oklahoma 4,957,787
Hawaii 2,640,283 Oregon 6,192,524
Idaho 2,059,469 Pennsylvania 29,643,996
Illinois 21,804,757 Rhode Island 2,226,621
Indiana 10,499,210 South Carolina 7,164,072
Iowa 7,783,920 South Dakota 1,252,336
Kansas 4,729,667 Tennessee 10,383,209
Kentucky 6,184,881 Texas 33,808,541
Louisiana 6,828,097 Utah 5,052,233
Maine 2,430,245 Vermont 1,230,330
Maryland 12,761,931 Virgina 12,678,067
Massachusetts 17,067,079 Washington 9,745,631
Michigan 19,571,171 West Virginia 2,383,522
Minnesota 13,192,479 Wisconsin 14,728,358
Mississipi 3,238,581 Wyoming 877,039
Missouri 12,028,625 United States $586,714,691

(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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