Maryland Quick Stats
The 2013 insurance company claims payments in Maryland as measured by direct property/casualty incurred losses, were
$5,600,000,000.
The insurance industry provided
47,930 jobs in Maryland in 2013, according to the Department of Commerce. These jobs accounted for about
$3,684,298,000 in compensation in Maryland.
$7,229,000,000 of the Maryland gross state product was contributed by the insurance industry, accounting for 2.2% of the GSP.
Direct premiums written by property/casualty insurance companies in Maryland totaled $9,952,664,000 in 2013.
Life/health premiums in Maryland totaled $13,548,000,000 in 2013 (including life insurance, annuities, accident and health insurance, deposit type funds and other considerations).
Life insurance claims and benefits payouts in Maryland totaled $8,700,000,000 in 2013. Includes life insurance, death benefits, matured endowments, annuity benefits and other life insurance benefits. This does not include accident and health.
The Maryland surplus lines market accounted for $409,800,000 in gross premiums written in 2013, according to a survey by Business Insurance.
Premium taxes paid by insurance companies in Maryland totaled $429,410,000 in 2013.
