Which commercial insurance lines lost money in 2023? Loss ratios by line
In 2023, commercial auto ran the worst loss ratio of the major commercial lines (74.4%), while workers' comp and inland marine were the most profitable for insurers (~45%).
Not all commercial insurance lines are equally profitable — and the gap drives which lines see rate increases. In 2023 (NAIC), loss ratios across the major commercial lines ranged widely: commercial auto ran the worst at 74.4%, then commercial multiple peril (BOP) 62.6%, general liability 60.2%, medical professional liability 57.6%, product liability 49.3%, commercial property 46.0%, workers' comp 45.1%, and inland marine 45.0% — the most profitable. A higher loss ratio means insurers pay out more per premium dollar, which is the pressure behind rate increases; see the state-by-state detail on our market profitability pages.