Key Takeaways
- 1,350+ insurance agencies and brokers operate in New York City (NYC) according to Dun & Bradstreet estimates for NAICS 5242 (Insurance Agencies and Brokerages).
- Approximately 8.5% of New York State’s workforce is employed in Finance and Insurance (NAICS 52), based on NYS LMI industry employment shares.
- New York had 1,747 insurance carriers licensed for business in the state as of the NAIC Annual Statement data (count varies by year; see NYS Department of Financial Services licensed insurer listing context).
- New York collected $20.9 billion in direct premiums written for property/casualty lines in 2023 (NY DOS/industry figures; see DFS/NAIC direct premiums context for New York).
- $114.3 billion of direct premiums were written in the New York life insurance industry in 2023 (NAIC state premiums by line).
- New York’s total direct premiums written across life and property/casualty were $251.6 billion in 2023 (NAIC state premiums by line).
- New York has a mandated minimum auto liability coverage limit of $25,000 per person/$50,000 per accident for bodily injury and $10,000 for property damage under NY Vehicle and Traffic Law.
- New York requires uninsured/underinsured motorist coverage with limits as selected by the insured but not less than the minimum liability limits under NY law.
- New York’s no-fault PIP benefits are limited to $50,000 for basic economic loss for eligible claims under NY Insurance Law.
- New York had an average annual personal auto loss ratio of 58% in 2022 (NAIC loss ratio data by state and line; use NAIC underwriting results tables).
- New York’s personal lines homeowners loss ratio was 62% in 2022 (NAIC underwriting results, homeowners).
- New York’s commercial multi-peril loss ratio was 71% in 2022 (NAIC underwriting results, CMPL).
New York is a major, heavily regulated insurance market, totaling $251.6 billion in direct premiums in 2023.
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How We Rate Confidence
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
Marie Larsen. (2026, February 13). New York Insurance Industry Statistics. Gitnux. https://gitnux.org/new-york-insurance-industry-statistics
Marie Larsen. "New York Insurance Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/new-york-insurance-industry-statistics.
Marie Larsen. 2026. "New York Insurance Industry Statistics." Gitnux. https://gitnux.org/new-york-insurance-industry-statistics.
References
- 1dnb.com/business-directory/company-information.insurance-agencies-brokers.loc.new-york-ny.html
- 2labor.ny.gov/stats/lswt.cfm
- 3dfs.ny.gov/industry_portal/insurance_company_search
- 4dfs.ny.gov/industry/insurance
- 6dfs.ny.gov/about/annual_report
- 15dfs.ny.gov/industry/producer_license
- 16dfs.ny.gov/industry/surplus_lines
- 25dfs.ny.gov/industry_guidance/catastrophe_plans
- 34dfs.ny.gov/consumer/complaints
- 35dfs.ny.gov/annual_report/2023
- 5health.ny.gov/health_care/medicaid/
- 7nysenate.gov/legislation/laws/INS/2307
- 8nysenate.gov/legislation/laws/INS/2300
- 20nysenate.gov/legislation/laws/VT/167
- 21nysenate.gov/legislation/laws/INS/3426
- 22nysenate.gov/legislation/laws/INS/5102
- 23nysenate.gov/legislation/laws/INS/7423
- 24nysenate.gov/legislation/laws/INS/7605
- 28nysenate.gov/legislation/laws/INS/3425
- 29nysenate.gov/legislation/laws/INS/2601
- 9naic.org/documents/industry_dashboard/annual_state_premiums.pdf
- 11naic.org/industry_insurers/assets_by_state.htm
- 12naic.org/producers/benefits_paid_by_state.htm
- 13naic.org/insurance_statistical_data/statistics_claims_paid.htm
- 14naic.org/insurance_statistical_data/statistics_policies_in_force.htm
- 17naic.org/documents/industry_dashboard/annual_state_market_share.pdf
- 30naic.org/insurance_statistical_data/underwriting.htm
- 31naic.org/insurance_statistical_data/surplus_lines.htm
- 32naic.org/documents/health-insurance-mlr-report.pdf
- 10iii.org/fact-statistic/insurance-companies-by-assets
- 18prudential.com/about/investors/financial-information/sec-filings
- 19census.gov/data/datasets/2022/econ/cbp/2022-cbp.html
- 26insurify.com/home-insurance/average-cost/
- 27insurify.com/auto-insurance/average-cost/
- 33cms.gov/CCIIO/Programs-and-Initiatives/Health-Insurance-Market-Reforms/Medical-Loss-Ratio







