Minnesota Product Liability Insurance Profitability (2023)
In 2023, Product Liability insurers earned $122.8M in premiums in Minnesota and ran a 119.4% loss ratio — the 4th-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.
Minnesota loss ratio
119.4%
70.1% above national
Premiums earned
$122.8M
Underwriting profit
-78.3%
Nationally, Product Liability ran a 49.3% loss ratio in 2023, so Minnesota is above the national average. See how every state compares on the Product Liability market page.
Getting Product Liability coverage in Minnesota
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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.