Recent market share reports from the National Association of Insurance Commissioners (NAIC) show year-over-year improvements in underwriting activity for homeowners multiple-peril coverage. In 2020, the industry's total direct written premiums for homeowners multi-peril insurance exceeded $108 billion — up from $104 billion in 2019. The NAIC's reports reflect cumulative market data reported on insurers' annual financial statements to the association as of March 29, 2021, for business conducted in the U.S. states and territories and Canada. The slideshow above reveals the top 15 writers of homeowners multi-peril coverage in 2020, according to the NAIC. Multi-peril insurance cover a range of different losses, and most personal and commercial line policies are, in fact, written for multiple perils. According to Christine Barlow, managing editor of FC&S Expert Coverage Interpretation, there are two main types of multiple-peril policies: named peril and open peril. Named peril policies are restrictive and only cover what's listed. "If the cause of loss isn't named, it's not covered," explains Barlow. On the other hand, open peril policies cover all losses except for those listed under exclusions or other restrictions named in the policy. "Both named and open peril policies are multiple-peril policies and are the dominant policies in the market," she says. "No one has to go around and buy a separate policy for fire, then one for theft, then one for windstorms, then one for vandalism, etc." Related: |

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