Rhode Island Commercial Property Insurance Profitability (2023)
In 2023, Commercial Property insurers earned $67.2M in premiums in Rhode Island and ran a 55.2% loss ratio — the 13th-highest of 51 states (one of the highest loss ratio for the line).
Source: NAIC 2023 Report on Profitability by Line by State. Loss ratio = incurred losses ÷ premiums earned.
Nationally, Commercial Property ran a 46.0% loss ratio in 2023, so Rhode Island is above the national average. See how every state compares on the Commercial Property market page.
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A higher loss ratio means carriers paid out more of each premium dollar in claims, which tends to push Rhode Island commercial property rates up and thin the field of carriers competing for the business; a lower one signals a more profitable, more competitive market. A 15.1% underwriting profit means the line stood on its own in Rhode Island without leaning on investment income. Counting investment income, carriers earned a 14.7% profit on commercial property insurance transactions in Rhode Island in 2023 — NAIC's broadest profitability measure for the line. Either way, these are industry aggregates — your own commercial property rate depends on your business, and the only way to see it is to compare filed rates and real quotes.
Rhode Island's $67M in commercial property premiums is the 46th-largest of the 51 states NAIC reports for the line. Across those states, loss ratios span from 399.1% in Hawaii — the toughest market for carriers — down to 11.7% in Wyoming, the most profitable; Rhode Island's 55.2% places it 13th of 51. For buyers, a state near the top of that spread usually means firmer commercial property pricing and fewer competing carriers, while a state near the bottom tends to run softer and more competitive. By premium, Rhode Island is about 0.4% of the $18.8B national commercial property market, and its loss-ratio rank places it in the harder half of states for carrier profitability — context that shapes how aggressively carriers compete for Rhode Island commercial property business.
Key takeaways
- Rhode Island commercial property: $67M in 2023 premiums at a 55.2% loss ratio (NAIC).
- That ranks Rhode Island 13th of 51 states by loss ratio for the line — carriers struggle here.
- These are industry aggregates, not a quote — your commercial property rate depends on your business; compare filed rates and real quotes.
Getting Commercial Property coverage in Rhode Island
See recent Rhode Island rate filings on the Rhode Island rate page, learn how Commercial Property works in our Commercial Property guide, see typical business owners policy costs, then compare real quotes for your business.
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