Top Workers’ Comp Insurance Companies by Market Share
The workers’ compensation insurance market is dominated by several key players. This guide provides an overview of the top 10 workers’ comp insurance companies in the US by market share, highlighting their strengths and offerings.
What is Workers’ Comp Insurance?
Workers’ compensation insurance is a mandatory policy that provides employees with medical treatment, wage replacement, rehabilitation, and death benefits following work-related injuries or illnesses. It also shields employers from direct lawsuits by covering employer liability in most cases.
Why Market Share Matters
Placing clients with top workers’ comp insurance companies by market share can translate to faster claims processing, broader coverage availability, and more competitive rates. Larger carriers tend to invest heavily in medical cost containment tools, clinical support teams, and digital platforms.
Top 10 Workers’ Comp Insurance Companies
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Travelers Group (8.51% market share)
- Offers medical and indemnity coverage with strong return-to-work support
- Features include TravPay Billing and e-CARMA Analytics for risk insight
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The Hartford Fire & Casualty Group (5.97% market share)
- Known for stability and strong broker partnerships
- Offers pay-as-you-go billing and nurse triage services
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Zurich Insurance Group (5.16% market share)
- Provides customizable workers’ comp programs and clinical oversight
- Offers flexible program structures including guaranteed-cost and large-deductible options
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AmTrust Financial Services Group (4.51% market share)
- Focuses on small-to-mid-market businesses
- Features AmCares 24/7 Nurse Triage and predictive nurse assignment
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Chubb Limited Group (4.24% market share)
- Offers advanced clinical and medical management services
- Features dedicated nursing teams and full bill review & medical oversight
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Berkshire Hathaway Group (3.75% market share)
- Part of Warren Buffett’s conglomerate, known for stable capital and disciplined underwriting
- Offers nurse triage & case management and medical bill review & audits
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Blue Cross Blue Shield of Michigan Group (3.39% market share)
- Non-profit mutual insurer with strong local relationships
- Offers Accident Fund WC Programs and integrated care leveraging BCBSM network
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American Financial Group (3.02% market share)
- Known for disciplined underwriting and strong profitability
- Features 24/7 nurse triage hotline and proactive risk management
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Old Republic Group (2.98% market share)
- Diversified P&C insurer with strong presence in residual markets
- Offers residual market servicing and specialized coverage for aviation and trucking
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American International Group (2.84% market share)
- Global insurer with top-tier financial stability
- Features Productivity Edge Nurse Triage & Outcome-Based Network and IntelliRisk & GBGO Platforms
When selecting a workers’ comp insurance provider, brokers should consider factors such as claims handling efficiency, medical cost containment, and the availability of value-added services. The top carriers by market share often have the resources to deliver on these aspects, but it’s crucial to match their offerings with the specific needs of clients.
