South Dakota Medical Professional Liability Insurance Profitability (2023)
In 2023, Medical Professional Liability insurers earned $18.9M in premiums in South Dakota and ran a 70.8% loss ratio — the 11th-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, Medical Professional Liability ran a 57.6% loss ratio in 2023, so South Dakota is above the national average. See how every state compares on the Medical Professional Liability 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 South Dakota 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. With a 27.4% underwriting loss, South Dakota carriers relied on investment income to make the line work in 2023 — a sign of rate pressure ahead. Counting investment income, carriers earned a -8.1% profit on medical professional liability insurance transactions in South Dakota 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.
South Dakota's $19M in medical professional liability premiums is the 50th-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; South Dakota's 70.8% places it 11th 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, South Dakota is about 0.2% of the $10.9B national medical professional liability market, and its loss-ratio rank places it in the toughest quartile of states for carrier profitability — context that shapes how aggressively carriers compete for South Dakota medical professional liability business.
This is one of the smallest medical professional liability markets NAIC reports. At $19M in premiums, a single large claim can move South Dakota's loss ratio by several points on its own, so read this figure as one year of a small book rather than as a settled signal about how carriers price the state.
Key takeaways
- South Dakota medical professional liability: $19M in 2023 premiums at a 70.8% loss ratio (NAIC).
- That ranks South Dakota 11th of 51 states by loss ratio for the line — carriers struggle here.
- 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 South Dakota
See recent South Dakota rate filings on the South Dakota rate page, learn how Medical Professional Liability works in our Medical Professional Liability guide, then compare real quotes for your business.
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