Ted Pierce, executive director of the Surplus Line Association of California (SLA) released the association’s nine month total for processed surplus line premium showing an 82 percent increase over the 2002 premium total for the same period.
The $3,884,507,930 in 2003 premium is attributed to the continued impact of the hard market.
The Association processed a total of 278,613 insurance policies in the last nine months compared to 222,392 processed in 2002.
“A third of this business was written for general liability coverage followed by commercial DIC, stand alone earthquake, commercial property, errors and omissions, and excess liability,” Pierce said.
Topics Trends Excess Surplus Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
Nebraska Fires Burn Grazing Lands, Threaten Plans to Grow US Cattle Herd 
Loss Trends Outpacing Pricing Assumptions: Other Liability Analysis 
Married Massachusetts Insurance Brokers Plead Guilty to Defrauding Clients of $750K 
Viewpoint: Insurance Broker Valuations – The Elephant in the Room 
