DEFENSE COSTS AND COST CONTAINMENT EXPENSES AS A PERCENT OF INCURRED LOSSES, 2012-2014 (1) |
($000)
|
|
2012 |
2013 |
2014 |
|
Amount |
As a percent of
incurred losses |
Amount |
As a percent of
incurred losses |
Amount |
As a percent of
incurred losses |
Product liability |
$873,860 |
114.7% |
$1,166,236 |
75.1% |
$952,997 |
77.4% |
Medical malpractice |
1,686,009 |
45.7 |
1,656,257 |
53.3 |
1,873,874 |
43.2 |
Commercial multiple peril (2) |
2,022,739 |
46.0 |
2,096,543 |
37.7 |
2,083,103 |
39.1 |
Other liability |
4,959,838 |
24.8 |
4,914,374 |
25.4 |
4,365,569 |
21.1 |
Workers compensation |
3,071,093 |
12.3 |
3,018,372 |
12.3 |
3,357,813 |
12.9 |
Commercial auto liability |
1,091,434 |
10.4 |
1,207,681 |
10.7 |
1,266,046 |
10.6 |
Private passenger auto liability |
4,353,427 |
6.7 |
4,600,395 |
6.8 |
4,714,584 |
6.5 |
All liability lines |
$18,058,400 |
13.9% |
$18,659,858 |
14.0% |
$18,613,986 |
13.1% |
(1) Net of reinsurance, excludes state funds.
(2) Liability portion only.
Source: SNL Financial LC. |
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