Texas has recorded $4.6 billion in surplus lines premium through the end of October 2017, a 6 percent increase over 2016, according to the Surplus Lines Stamping Office of Texas (SLTX).
Providing an update at the annual meeting of the Texas Surplus Lines Association (TSLA), SLTX CEO Norma Essary provided those figures in an update on the state of the surplus lines industry. Essary noted also that flood policies have grown 228 percent since 2008 and are expected to continue an upward climb.
TSLA held its annual meeting in Austin on Nov. 12 – 13.
In addition to networking opportunities, TSLA hosted several speaker presentations during the event. TSLA Attorney Keith Strama, with Beatty, Bangle & Strama, moderated a panel discussing hail litigation and House Bill 1774, which took effect days after Hurricane Harvey hit the coast of Texas. Steve Badger, with Zelle LLP, Richard Trabulsi Jr., co-founder and President of Texans for Lawsuit Reform, and State Representative Dade Phelan, whose district sits on the Texas coast and borders Louisiana, participated in the panel.
The TSLA Texans Under 40 also hosted a service project and assembled more than 90 care packages that will be sent to active military members around the world. SLTX CIO Tara Mitchell, CFO Kyle Bolls and board members Andrew Fieker and Kyle Streetman all participated in the event.