Michigan Product Liability Insurance Profitability (2023)
In 2023, Product Liability insurers earned $129.9M in premiums in Michigan and ran a 35.2% loss ratio — the 35th-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.
Michigan loss ratio
35.2%
14.1% below national
Premiums earned
$129.9M
Underwriting profit
21.3%
Nationally, Product Liability ran a 49.3% loss ratio in 2023, so Michigan is below the national average. See how every state compares on the Product Liability market page.
Getting Product Liability coverage in Michigan
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Data: NAIC 2023 Report on Profitability by Line by State (public). See our
data methodology. Figures are industry aggregates, not a quote.