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Previously, we examined AdvisorSmith's list of the most profitable states for P&C insurance companies, but now we'll take a look at the other side of the coin.

According to AdvisorSmith, while the top ten least profitable states vary in size, larger states tend to have more competitive insurance markets, which can drive pricing (and, in turn, profitability) down. The small states who made this list are often less profitable because of higher loss ratios.

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].