Product Liability Insurance, 2011-2020

($000)

Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2011 $2,320,540 13.2% 160.0 2.9 pts.
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,794,716 3.9 122.3 20.2
2019 3,019,134 8.0 107.6 -14.7
2020 3,239,063 7.3 88.2 -19.4
(1) After reinsurance transactions, excludes state funds. (2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration. (3) Calculated from unrounded data. Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.