Michigan’s top 20

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    The top 20 commercial insurers that write workers’ compensation policies in Michigan collect an estimated annual premium of more than $735 million and combine for roughly 75 percent of that market.

    Here are those top 20, ranked by the estimated annual premium and overall market share in Michigan.

    Group Name
    Accident Fund Insurance Co.
    American International Group
    Liberty Mutual Companies
    Hartford Fire & Casualty Group
    Auto Owners Insurance Group
    The St. Paul Travelers Cos.
    Frankenmuth Mutual Insurance Co.
    Zurich/Maryland Insurance Cos.
    Mich. Commercial Insurance Mutual
    Amerisure Cos.
    The Hanover Insurance Group
    Hastings Mutual Insurance Co.
    Michigan Insurance Co.
    Mich. Farm Bureau Insurance Co.
    Cincinnati Insurance Cos.
    CNA Insurance Group
    Chubb Group
    Ace American Insurance Cos.
    Indiana Insurance Group
    American Compensation Insurance Co.
    Totals

    Total Estimated
    Annual Premium

    $207,660,478
    $82,183,612
    $69,088,470
    $45,321,305
    $44,227,222
    $41,198,874
    $36,137,514
    $32,016,426
    $30,256,679
    $28,170,185
    $28,105,857
    $26,829,924
    $24,880,364
    $21,308,145
    $21,072,215
    $20,925,154
    $20,326,428
    $14,002,599
    $12,343,356
    $11,226,853
    $735,008,048

    Percentage of
    Market Share

    20.95%
    8.27%
    6.97%
    4.56%
    4.46%
    4.16%
    3.64%
    3.21%
    3.05%
    2.84%
    2.84%
    2.71%
    2.51%
    2.15%
    2.12%
    2.11%
    2.05%
    1.41%
    1.24%
    1.13%
    74.11%

    Source: Michigan Office of Financial and Insurance Regulation, “The State of Competition in the Workers’ Compensation Insurance Market in the State of Michigan,” May 2009
     

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