Below is a list of the top 10 multi-peril commercial insurance companies in Texas, based on written insurance premium.
Keep in mind these companies aren’t necessarily the top rated, just the most frequently used in the Lone Star State.
As you can see, Travelers was the top commercial insurance provider in Texas in 2009 (most recent year available), according to a report from the Independent Insurance Agents of Texas.
Travelers grabbed 8.9 percent of market share with $180 million in written premium, followed by The Hartford, which raked in 8.7 percent market share on $176.4 million in written premium.
Liberty Mutual snagged the third spot with 7.8 percent market share and $158.1 million in written premium, followed closely by Nationwide, with 6.4 percent market share and $129.6 million in written premium.
Rounding out the top five was heavy-hitter Farmers, with 6 percent market share and $112 million in written premium.
A number of other notables made their way into the top 20, including Zurich, Chubb, CNA, AIG, and Republic.
Similar to homeowners insurance, the loss ratio (amount of money paid out in insurance claims versus earned premium) for commercial insurance has dropped considerably post Hurricane Ike, which ravaged Texas in 2008.
IIAT noted that commercial insurance premiums have dropped, which is likely associated with the downturn in the U.S. economy.
Contact a local independent insurance agent if you are in the market for a new commercial insurance policy or if you want to make sure you are not paying too much for your current coverage.