FOR IMMEDIATE RELEASE
2010/2011 AUTO INSURANCE REPORT
WASHINGTON, D.C. (Dec. 30, 2013) - The National Association of Insurance
Commissioners (NAIC) today announced the release of its 2010/2011 Auto
Insurance Database Report, which provides the average costs associated with
personal automobile insurance nationwide.
Developed by the Casualty Actuarial and Statistical Task Force of the
NAIC's Property and Casualty Insurance (C) Committee, the report features
state-by-state auto insurance data designed to provide necessary
information and analysis to insurance regulators, consumers and policymakers.
The data used for this report includes written premium and exposure data
from calendar years 2007-2011 for the combined voluntary and residual
market. The report also includes earned premium and exposure data, as well
as incurred loss and claims data, from calendar/accident years 2008-2010
for voluntary and residual market business.
For each state, average premium and expenditures, pure premium, loss
ratio, claim frequency and claim severity are calculated by coverage. The
types of auto insurance coverage included are bodily injury and property
damage liability, uninsured and underinsured motorist, medical payment,
collision and comprehensive.
The NAIC recognizes the differences in state requirements for insurance
coverage, limits and benefits. Many factors affect a state's expenditures
and premiums, including underwriting costs, driving locations, accident
rates, traffic density, auto theft statistics, repair costs and state laws.
These variances make direct state-by-state comparisons difficult. Also, data
contained in the 2010/2011 report may differ from data released in previous
reports, as updated information from insurers is periodically obtained and
included in the most recent report.
The complete report is also available for purchase through the NAIC Store.