Denver, CO – The Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), has released its “2017 Colorado Insurance Industry Statistical Report.” In 2017, Colorado citizens spent over $35 billion on premiums to 1,434 companies, and this report details the financial status and market share of those companies selling various lines of insurance in the state.
“This report is a valuable resource for anyone who wants to dig into the data and find out more about the insurance market here in Colorado,” said Interim Insurance Michael Conway. “It is a great tool for in-depth research or just to answer simple questions.”
For each line of insurance, the report details the companies selling that insurance, where they are located, and their market share, based on the premium collected. It also shows the loss ratios for individual insurance companies – the ratio between the premiums paid to that company and the money it pays out. The information for this report comes from data filed with the Division or with the National Association of Insurance Commissioners (NAIC).
What kind of questions can this report answer about the insurance industry in Colorado in 2017? Here are a few examples:
- Which company was the biggest seller of large group employer, major medical health insurance in Colorado? (see page 285)
- How many companies were selling earthquake insurance in our state? (see pages 149-151)
- What were the top five companies selling Medicare supplement insurance? (see page 281)
- What was the loss ratio for the number 3 company selling private passenger auto liability insurance? (see page 179)
- Where is the company located that had the biggest market share for aircraft insurance in Colorado (or, in insurance terminology, “Where is it domiciled”)? (see page 200)
Find the report here: 2017 Colorado Insurance Industry Statistical Report.
Source: CO DOI