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Private
Insurers:
Of the top twenty companies shown in Table 2, Zurich American Insurance Corporation showed the greatest absolute increase in premium of $15.0 million. Five firms from the top 20 in 2004 were replaced in 2005: Employers Insurance Company, Liberty Mutual Fire Insurance Company, Liberty Mutual Insurance Company, St. Paul Fire and Marine Insurance Company, and Transportation Insurance Company.
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Table 2 |
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Premium and ranking of 20 largest
private |
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insurance companies in 2005
compared to 2004 |
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Ranking |
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Premium ($ millions) |
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2005 |
2004 |
Insurance company |
2005 |
2004 |
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1 |
1 |
Liberty Northwest Insurance Corporation |
122.0 |
124.0 |
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2 |
2 |
Liberty Insurance Corporation |
26.9 |
22.8 |
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3 |
11 |
Zurich American Insurance Company |
22.3 |
7.3 |
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4 |
5 |
American Home Assurance Company |
20.6 |
15.1 |
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5 |
4 |
Ace American Insurance Company |
16.1 |
16.4 |
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6 |
6 |
Commerce and Industry Insurance Company |
15.9 |
14.9 |
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7 |
9 |
Old Republic Insurance Company |
9.3 |
8.2 |
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8 |
8 |
Travelers Property Casualty Company of America |
8.8 |
10.3 |
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9 |
15 |
Fidelity and Guaranty Insurance Company |
7.0 |
6.6 |
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10 |
14 |
Indemnity Insurance Company of North America |
6.9 |
6.6 |
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11 |
17 |
Twin City Fire Insurance Company |
6.6 |
5.0 |
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12 |
16 |
Truck Insurance Exchange |
6.5 |
5.7 |
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13 |
25 |
Birmingham Fire Insurance Company of Pennsylvania |
6.2 |
2.5 |
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14 |
7 |
National Union Fire Insurance Company of Pittsburg |
5.8 |
11.9 |
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15 |
39 |
Insurance Company of the State of Pennsylvania |
5.3 |
0.9 |
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16 |
21 |
Hartford Underwriters Insurance Company |
4.9 |
3.3 |
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17 |
19 |
Hartford Fire Insurance Company |
4.2 |
3.3 |
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18 |
24 |
American Zurich Insurance Company |
3.6 |
2.5 |
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19 |
20 |
Sentry Insurance A Mutual Company |
3.4 |
3.3 |
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20 |
22 |
Federal Insurance Company |
3.2 |
2.9 |
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Note: Ranking of insurers is based on direct premium
written (including Earned Large Deductible Premium Credits). |
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Source: Research & Analysis Section, Information
Management Division, Oregon Department of Consumer and Business
Services. Updated 6/2006 |
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Private insurer groups (See Appendix Table 2) have been a major factor in Oregon's workers' compensation insurance since private insurers were authorized to write workers' compensation coverage in 1966. Although organization and business practices may vary widely among groups, affiliated insurers - all subsidiaries of the same corporation - can offer policyholders variations in rates, payment options, services, etc., in a very competitive market.