2013 State Specialist P/C Insurers Revealed

By Barry J. Koestler | November 18, 2013

State Specialists are often an independent agent’s most reliable and consistent market. These companies are focused on a specific geographic area, understand it and consistently strive to serve it.

The Demotech Company Classifi-cation System categorizes insurers into one of 11 categories based on an analysis of data reported by the companies to the National Association of Insurance Commissioners (NAIC). The 11 categories that comprise the system are: Nationals, Near Nationals, Super Regionals, Regionals, State Specialists, Coverage Specialists, Strategic Subsidiaries, Risk Retention Groups, Surplus Lines Carriers, Reinsurers and Companies with less than $1 million in direct written premium.

To be categorized as a State Specialist, a carrier must be an individual, active company reporting data to the NAIC using the property/casualty annual statement format at Dec. 31, 2012. It must report at least $1 million in direct written premium at Dec. 31, 2012, with 90 percent or more in one state. Further, it cannot be a surplus lines company, risk retention group or reinsurance company.

In total, 766 companies were categorized as State Specialists for 2013. This is more than 28 percent of the 2,716 companies that were classified based on Dec. 31, 2012, data. State Specialists wrote more than $72 billion of direct written premium, which was 14 percent of the industry’s direct written premium in 2012.

When examining the state of specialty of the 2013 State Specialists, Texas had the most companies, with 99. Florida was next with 82, followed by New York with 72, California with 55 and New Jersey with 50. When looking at the line of business mix, 46 percent of the State Specialists’ 2012 direct written premium was private passenger auto. More than 24 percent was homeowners multiple peril and nearly 9 percent of was workers’ compensation.

Space limitations precluded an enumeration of each of the 766 State Specialists. The accompanying list includes the 296 State Specialists that were not affiliated with a group at Dec. 31, 2012. A full list is available by contacting bkoestler@demotech.com.

Click a column header to sort.

Company Name State of Specialty 2013 Total DPW
Texas Mutual Insurance Co. TX 906,405
State Compensation Insurance Fund CA 903,787
Medical Liability Mutual Insurance Co. NY 562,214
Pinnacol Assurance CO 414,982
PEMCO Mutual Insurance Co. WA 330,161
Wawanesa General Insurance Co. CA 316,738
St. Johns Insurance Co. Inc. FL 275,607
American Coastal Insurance Co. FL 262,041
Farm Bureau Mutual Insurance Co. of Arkansas Inc. AR 240,804
Security First Insurance Co. FL 226,696
Hospitals Insurance Co. Inc. NY 224,078
Homeowners Choice Property & Casualty Insurance Co. Inc. FL 208,378
Nuclear Electric Insurance Ltd. DE 193,582
Pioneer State Mutual Insurance Co. MI 187,786
Queen City Assurance Inc. VT 170,009
Louisiana Workers’ Compensation Corp. LA 167,296
Indiana Farmers Mutual Insurance Co. IN 165,435
Alliance United Insurance Co. CA 158,942
Rural Mutual Insurance Co. WI 155,226
Louisiana Farm Bureau Mutual Insurance Co. LA 144,734
American Integrity Insurance Co. of Florida FL 140,226
Country-Wide Insurance Co. NY 139,601
American Transit Insurance Co. NY 137,009
Missouri Employers Mutual Insurance Co. MO 136,517
Kentucky Employers’ Mutual Insurance Authority KY 125,813
Federated National Insurance Co. FL 121,471
Mutual Insurance Co. of Arizona AZ 120,055
Michigan Millers Mutual Insurance Co. MI 114,450
Windhaven Insurance Co. FL 107,726
American Steamship Owners Mutual Protection and Indemnity Association Inc. NY 103,985
Southern Oak Insurance Co. FL 100,103
Ark Royal Insurance Co. FL 97,412
Bear River Mutual Insurance Co. UT 95,745
Olympus Insurance Co. FL 95,367
COPIC Insurance Co. CO 94,108
New York Schools Insurance Reciprocal NY 83,928
Auto Club South Insurance Co. FL 75,574
Underwriters at Lloyd’s, London (KY) KY 71,140
Wisconsin Mutual Insurance Co. WI 66,351
People’s Trust Insurance Co. FL 63,817
Lighthouse Property Insurance Corp. LA 62,747
Erie and Niagara Insurance Association NY 56,829
Colorado Farm Bureau Mutual Insurance Co. CO 56,767
Citizens United Reciprocal Exchange NJ 56,493
MDAdvantage Insurance Co. of New Jersey NJ 53,594
Underwriters at Lloyd’s, London (IL) IL 53,258
Louisiana Medical Mutual Insurance Co. LA 53,147
Homeowners of America Insurance Co. TX 51,298
Sterling Insurance Co. NY 50,939
Kingstone Insurance Co. NY 49,252
Fiduciary Insurance Co. of America Inc. NY 48,598
Farmers Union Mutual Insurance ND 48,154
Dryden Mutual Insurance Co. NY 48,134
RAM Mutual Insurance Co. MN 46,061
IFA Insurance Co. NJ 44,836
New York Municipal Insurance Reciprocal NY 44,648
Germantown Mutual Insurance Co. WI 42,219
Lawyers’ Mutual Insurance Co. CA 40,164
Security Mutual Insurance Co. NY 38,902
Alabama Municipal Insurance Corp. AL 38,292
Hawaii Employers’ Mutual Insurance Co. Inc. HI 36,995
Ascendant Commercial Insurance Inc. FL 36,762
Wellington Insurance Co. TX 36,297
Farmers Mutual Fire Insurance Co. of Salem County NJ 36,082
Southern Fidelity Property & Casualty Inc. FL 34,779
Madison Mutual Insurance Co. IL 34,137
Sawgrass Mutual Insurance Co F 33,664
Prepared Insurance Co. FL 33,089
Crusader Insurance Co. CA 32,572
Florida Doctors Insurance Co. FL 31,515
German Mutual Insurance Co. OH 30,999
Farmers Insurance Co. of Flemington NJ 29,247
West Virginia Mutual Insurance Co. WV 28,691
CIFG Assurance North America Inc. NY 27,676
Discovery Insurance Co. NC 27,354
Care West Insurance Co. CA 26,627
Housing and Redevelopment Insurance Exchange PA 25,563
Kansas Medical Mutual Insurance Co. KS 25,433
Peachtree Casualty Insurance Co. FL 24,483
Center Mutual Insurance Co. ND 23,907
Bremen Farmers Mutual Insurance Co. KS 23,772
Sterling Casualty Insurance Co. CA 22,084
League of Wisconsin Municipalities Mutual Insurance WI 22,052
Texas Lawyers’ Insurance Exchange TX 21,991
Star & Shield Insurance Exchange FL 21,911
Granada Insurance Co. FL 21,745
Marysville Mutual Insurance Co. KS 21,486
Carolina Mutual Insurance Inc. NC 21,255
American Risk Insurance Co. Inc. TX 20,288
Idaho Counties Risk Management Program ID 19,974
Conventus Inter-Insurance Exchange NJ 19,746
National Automotive Insurance Co. LA 19,427
Citadel Insurance Co. LA 19,223
N.C. Grange Mutual Insurance Co. NC 19,051
Eveready Insurance Co. NY 18,974
Mt. Morris Mutual Insurance Co. WI 18,823
Park Insurance Co. NY 18,589
Upland Mutual Insurance Inc. KS 18,346
Seven Seas Insurance Co. Inc. FL 18,333
Americas Insurance Co. LA 18,193
Responsive Auto Insurance Co. FL 18,073
Maya Assurance Co. NY 18,029
Farmers Union Mutual Insurance Co. MT 17,377
Illinois State Bar Association Mutual Insurance Co. IL 17,302
Otsego Mutual Fire Insurance Co. NY 17,034
Northern Mutual Insurance Co. MI 16,914
Southern Mutual Insurance Co. GA 16,762
Harbor Insurance Co. OK 16,650
US Lloyds Insurance Co. TX 16,438
Farm Credit System Association Captive Insurance Co. CO 15,558
Missouri Professionals Mutual Insurance Co. MO 15,528
Michigan Professional Insurance Exchange MI 15,041
Professional Casualty Association PA 14,538
Manufacturing Technology Mutual Insurance Co. MI 14,521
Nations Insurance Co. CA 14,339
New Jersey Physicians United Reciprocal Exchange NJ 14,238
Midstate Mutual Insurance Co. NY 14,125
Capitol Insurance Co. PA 13,961
American Alliance Casualty Co. IL 13,845
Fairmont Farmers Mutual Insurance Co. MN 13,781
Allegany Co-op Insurance Co. NY 13,526
Normandy Harbor Insurance Co. Inc. FL 13,526
Interstate Bankers Casualty Co. IL 13,404
Mennonite Mutual Insurance Co. OH 12,880
Farmers Fire Insurance Co. PA 12,815
Wayne Cooperative Insurance Co. NY 12,792
West Virginia Insurance Co. WV 11,946
Access Home Insurance Co. LA 11,906
Direct Auto Insurance Co. IL 11,898
USPlate Glass Insurance Co. FL 11,823
Florida Lawyers Mutual Insurance Co. FL 11,741
Mutual of Wausau Insurance Corp. WI 11,501
Farmers Mutual Fire Insurance Co. of Marble, Pennsylvania PA 11,249
Medical Alliance Insurance Co. IL 11,188
Avatar Property & Casualty Insurance Co. FL 11,081
Capacity Insurance Co. FL 10,956
Cities and Villages Mutual Insurance Co. WI 10,934
USA Insurance Co. MS 10,839
German American Farm Mutual TX 10,185
American Millennium Insurance Co. NJ 10,176
American Colonial Insurance Co. Inc. FL 10,131
Finger Lakes Fire and Casualty Co. NY 10,130
Union Mutual Insurance Co. OK 9,898
Nevada Mutual Insurance Co., Inc. NV 9,875
McMillan Warner Mutual Insurance Co. WI 9,614
First Benefits Insurance Mutual, Inc. NC 9,569
Delta Lloyds Insurance Co. of Houston Texas TX 9,554
Farmers Mutual Fire Insurance Co. OK 9,525
Oklahoma Attorneys Mutual Insurance Co. OK 9,399
Kensington Insurance Co. NY 9,367
Bell United Insurance Co. NV 9,323
Paramount Insurance Co. MD 9,208
Positive Physicians Insurance Exchange PA 9,093
Casualty Corporation of America Inc. OK 9,084
Farmers Mutual of Tennessee TN 8,590
OHA Insurance Solutions Inc. OH 8,578
Kansas Mutual Insurance Co. KS 8,546
Chautauqua Patrons Insurance Co. NY 8,516
Dealers Choice Mutual Insurance Inc. NC 8,392
North Country Insurance Co. NY 8,364
Insurance Placement Facility of Pennsylvania PA 8,222
Texas Hospital Insurance Exchange TX 8,150
MedMal Direct Insurance Co. FL 8,121
Leatherstocking Cooperative Insurance Co. NY 8,012
Halifax Mutual Insurance Co. NC 8,000
CEM Insurance Co. TX 7,875
Reamstown Mutual Insurance Co. PA 7,859
Building Industry Insurance Association Inc. VA 7,810
Pennsylvania Physicians’ Reciprocal Insurers PA 7,621
Victory Insurance Co. Inc. MT 7,354
Mid-Hudson Co-Operative Insurance Co. NY 7,249
Nazareth Mutual Insurance Co. PA 7,192
Lawyers Mutual Insurance Co. of Kentucky KY 7,187
Georgia Mutual Insurance, A Stock Company GA 6,965
ARECA Insurance Exchange AK 6,853
Associated Mutual Insurance Cooperative NY 6,849
Physicians’ Insurance Program Exchange PA 6,633
Ohio Bar Liability Insurance Co. OH 6,473
Healthcare Underwriters Group of Florida FL 6,375
Pacific Pioneer Insurance Co. CA 6,353
Broome Co-operative Insurance Co. NY 6,329
Georgia Dealers Insurance Co. GA 6,179
Oswego County Mutual Insurance Co. NY 6,112
Callicoon Co-operative Insurance Co. NY 6,046
Districts Mutual Insurance WI 6,042
Agents Mutual Insurance Co. AR 5,924
Fulmont Mutual Insurance Co. NY 5,905
Healthcare Underwriters Group Mutual of Ohio OH 5,869
CompTrust AGC Mutual Captive Insurance Co. GA 5,865
Physicians Professional Indemnity Association MO 5,826
Farmers Mutual Insurance Co. WV 5,820
Preferred Auto Insurance Co. Inc. TN 5,788
Maple Valley Mutual Insurance Co. WI 5,742
Hartland Mutual Insurance Co. ND 5,696
Transit General Insurance Co. IL 5,559
Central Co-operative Insurance Co. NY 5,546
Health Care Mutual Captive Insurance Co. GA 5,477
Alaska Timber Insurance Exchange AK 5,388
CBIA Comp. Services Inc. CT 5,172
U.S. Insurance Co. of America IL 5,075
Juniata Mutual Insurance Co. PA 5,014
SteadPoint Insurance Co. TN 5,008
Bedford Grange Mutual Insurance Co. PA 5,002
Health Care Insurance Reciprocal MN 4,994
Arrow Mutual Liability Insurance Co. MA 4,908
Farmers Mutual Fire Insurance Co. of McCandless Township PA 4,861
First Mutual Insurance Co. NC 4,861
Business Alliance Insurance Co. CA 4,846
Wisconsin Lawyers Mutual Insurance Co. WI 4,797
Retailers Mutual Insurance Co. MI 4,793
Genesee Patrons Cooperative Insurance Co. NY 4,731
Freedom Advantage Insurance Co. PA 4,719
Pennsylvania Professional Liability Joint Underwriting Association PA 4,716
Laundry Owners Mutual Liability Insurance Association PA 4,702
Healthcare Underwriters Group of Kentucky KY 4,659
Farmers Union Mutual Insurance Co. AR 4,560
Missouri Doctors Mutual Insurance Co. MO 4,505
Synergy Comp Insurance Co. PA 4,474
Ontario Insurance Co. NY 4,417
Merced Property & Casualty Co. CA 4,380
Waco Fire & Casualty Insurance Co. GA 4,353
Missouri Valley Mutual Insurance Co. SD 4,257
Midrox Insurance Co. NY 4,252
Great Lakes Mutual Insurance Co. MI 4,250
Wisconsin Municipal Mutual Insurance Co. WI 4,241
Briar Creek Mutual Insurance Co. PA 4,212
Trans City Casualty Insurance Co. AZ 4,195
Specialty Risk of America IL 4,163
Sunderland Marine Mutual Insurance Co. Ltd. – US Branch AK 4,085
Gem State Insurance Co. ID 4,010
Seaview Insurance Co. CA 3,993
Farmers and Merchants Mutual Fire Insurance Co. MI 3,902
Mount Carroll Mutual Insurance Co. IL 3,836
Madison Mutual Insurance Co. NY 3,816
Little Black Mutual Insurance Co. WI 3,692
Mound Prairie Mutual Insurance Co. MN 3,664
Road Contractors Mutual Insurance Co. TN 3,606
Tank Owner Members Insurance Co. TX 3,530
Whitecap Surety Co. MN 3,507
Great Falls Insurance Co. ME 3,506
Carolina Farmers Mutual Insurance Co. NC 3,474
Petroleum Marketers Management Insurance Co. IA 3,453
PrimeOne Insurance Co. MI 3,428
Hay Creek Mutual Insurance Co. MN 3,418
Doctors Direct Insurance, Inc. IL 3,368
Bloomfield Mutual Insurance Co. MN 3,350
United Business Insurance Co. (A Mutual Captive) GA 3,344
Ethio-American Insurance Co. Inc. GA 3,286
Community Mutual Insurance Co. NY 3,267
National Direct Insurance Co. NV 3,251
Safe Insurance Co. WV 3,230
Friends Cove Mutual Insurance Co. PA 3,197
United Casualty and Surety Insurance Co. MA 3,017
Wilmington Insurance Co. DE 3,016
Transit Mutual Insurance Corp. of Wisconsin WI 2,994
Heartland Mutual Insurance Co. MN 2,972
Vasa-Spring Garden Mutual Insurance Co. MN 2,971
California Mutual Insurance Co. CA 2,935
United Frontier Mutual Insurance Co. NY 2,883
Ellington Mutual Insurance Co. WI 2,772
Farmers Mutual Insurance Co. KS 2,701
Integra Insurance Inc. MN 2,699
Western Mutual Fire Insurance Co. MN 2,696
Pan Handle Farmers Mutual Insurance Co. of West Virginia WV 2,630
Alamance Farmers’ Mutual Insurance Co. NC 2,616
Washington County Co-op Insurance Co. NY 2,603
Century Mutual Insurance Co. NC 2,526
National Heritage Insurance Co. IL 2,521
Arkansas Mutual Insurance Co. AR 2,500
British American Insurance Co. TX 2,441
Piedmont Mutual Insurance Co. NC 2,330
Centre County Mutual Fire Insurance Co. PA 2,271
Utah Business Insurance Co. Inc. UT 2,269
Mutual Insurance Co. of Lehigh County PA 2,171
Spartan Insurance Co. TX 1,969
AGIC Inc. FL 1,908
Conemaugh Valley Mutual Insurance Co. PA 1,761
Mower County Farmers Mutual Insurance Co. MN 1,663
Farmington Mutual Insurance Co. WI 1,653
Hannahstown Mutual Insurance Co. PA 1,650
Otsego County Patrons Co-Operative Fire Relief Association NY 1,624
Professional Insurance Exchange UT 1,608
New Mexico Property and Casualty Co. NM 1,558
Benefit Security Insurance Co. IL 1,510
Wall Rose Mutual Insurance Co. PA 1,483
Workers Compensation Exchange ID 1,454
Keystone Mutual Insurance Co. MO 1,415
Club Insurance Co. OH 1,356
Farmers & Mechanics Mutual Insurance Association of Cecil County Inc. MD 1,256
Farmers Mutual Fire Insurance Co. of Branch County MI 1,244
Yel Co. Insurance FL 1,198
Indiana Old National Insurance Co. IN 1,191
Clearfield County Grange Mutual Fire Insurance Co. PA 1,173
Grange Mutual Fire Insurance Co. PA 1,110
Ecole Insurance Co. AZ 1,110
Lincoln Mutual Insurance Co. NC 1,020

About Barry J. Koestler

Koestler is the chief ratings officer of Demotech Inc. Demotech is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has assigned Financial Stability Ratings® (FSRs) for property/casualty insurers and title underwriters. Website: www.demotech.com.

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Insurance Journal West November 18, 2013
November 18, 2013
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