New Jersey Medical Professional Liability Insurance Profitability (2023)
In 2023, Medical Professional Liability insurers earned $546.6M in premiums in New Jersey and ran a 41.9% loss ratio — the 37th-highest of 51 states (one of the lowest loss ratio for the line).
Source: NAIC 2023 Report on Profitability by Line by State. Loss ratio = incurred losses ÷ premiums earned.
Nationally, Medical Professional Liability ran a 57.6% loss ratio in 2023, so New Jersey is below the national average. See how every state compares on the Medical Professional Liability market page.
See what carriers charge for medical professional liability cover in New Jersey · Licensed agent followup
5 quick questions about your New Jersey business · No phone calls · No SSN required
A higher loss ratio means carriers paid out more of each premium dollar in claims, which tends to push New Jersey medical professional liability rates up and thin the field of carriers competing for the business; a lower one signals a more profitable, more competitive market. A 13.9% underwriting profit means the line stood on its own in New Jersey without leaning on investment income. Counting investment income, carriers earned a 29.4% profit on medical professional liability insurance transactions in New Jersey in 2023 — NAIC's broadest profitability measure for the line. Either way, these are industry aggregates — your own medical professional liability rate depends on your business, and the only way to see it is to compare filed rates and real quotes.
New Jersey's $547M in medical professional liability premiums is the 6th-largest of the 51 states NAIC reports for the line. Across those states, loss ratios span from 194.3% in New Mexico — the toughest market for carriers — down to 14.2% in Wyoming, the most profitable; New Jersey's 41.9% places it 37th of 51. For buyers, a state near the top of that spread usually means firmer medical professional liability pricing and fewer competing carriers, while a state near the bottom tends to run softer and more competitive. By premium, New Jersey is about 5.0% of the $10.9B national medical professional liability market, and its loss-ratio rank places it in the more profitable half of states for carrier profitability — context that shapes how aggressively carriers compete for New Jersey medical professional liability business.
Key takeaways
- New Jersey medical professional liability: $547M in 2023 premiums at a 41.9% loss ratio (NAIC).
- That ranks New Jersey 37th of 51 states by loss ratio for the line — a profitable market for carriers.
- These are industry aggregates, not a quote — your medical professional liability rate depends on your business; compare filed rates and real quotes.
Getting Medical Professional Liability coverage in New Jersey
See recent New Jersey rate filings on the New Jersey rate page, learn how Medical Professional Liability works in our Medical Professional Liability guide, then compare real quotes for your business.
Compare New Jersey Medical Professional Liability Quotes →