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WASHINGTON, D.C. (Dec. 30, 2013) — The National Association of Insurance Commissioners (NAIC) today announced the release of its 2010/2011 Auto Insurance Database Report, which provides the average costs associated with personal automobile insurance nationwide.
Developed by the Casualty Actuarial and Statistical Task Force of the NAIC's Property and Casualty Insurance (C) Committee, the report features state-by-state auto insurance data designed to provide necessary information and analysis to insurance regulators, consumers and policymakers.
The data used for this report includes written premium and exposure data from calendar years 2007-2011 for the combined voluntary and residual market. The report also includes earned premium and exposure data, as well as incurred loss and claims data, from calendar/accident years 2008-2010 for voluntary and residual market business.
For each state, average premium and expenditures, pure premium, loss ratio, claim frequency and claim severity are calculated by coverage. The types of auto insurance coverage included are bodily injury and property damage liability, uninsured and underinsured motorist, medical payment, collision and comprehensive.
The NAIC recognizes the differences in state requirements for insurance coverage, limits and benefits. Many factors affect a state's expenditures and premiums, including underwriting costs, driving locations, accident rates, traffic density, auto theft statistics, repair costs and state laws. These variances make direct state-by-state comparisons difficult. Also, data contained in the 2010/2011 report may differ from data released in previous reports, as updated information from insurers is periodically obtained and included in the most recent report.
The complete report is also available for purchase through the NAIC Store.