Increasing movement of homeowners insurance risk to the U.S. surplus lines market has continued to contribute to growth for nonadmitted insurers. According to a report from AM Best, surplus homeowners direct premiums written in 2023 eclipsed $2 billion for the …
In 2023 the U.S. surplus lines market for the first time surpassed the $100 billion mark in direct premiums written, and some of the risk that has found non-admitted insurers might stay there beyond an eventual turn in the market …
Surplus lines premium increased 22% and transactions rebounded almost 6.6% over their 2020 totals in the 15 states with designated surplus lines stamping offices. The increases represented record levels of premium ($51 billion) and transactions (5.3 million) since the stamping …
Success for a specialty lines carrier is about discipline. It’s about walking away from classes of business or lines of business when rates are no longer adequate. It’s about having the courage to make substantial changes. That’s according to Lou …
An influx of new business is presenting surplus lines wholesalers and their retail partners with new opportunities to work together even as other forces are changing how they work together. The surplus lines insurance market continues to grow, not because …
Across the United States, all 15 surplus lines service offices experienced increases in excess and surplus (E&S) lines insurance premium, totaling $28.1 billion, the Surplus Lines Stamping Office of Texas (SLTX) reports. Information compiled by the SLTX confirmed the national …
Surplus lines may not be the most widely understood segment of the property/casualty insurance industry but for risk managers of large organizations it’s often the go-to market for complicated risks for which standard insurance markets have little appetite. That was …
There’s little question that the drought and the recent wildfire season that it unleashed pushed more California homeowners into the surplus lines market. Now with the onset of what appears to be a strong El Niño this week in the …
Delaware insurance producers’ administrative burden when placing business in the surplus lines market will be lighter thanks to passage of House Bill 40 on Tuesday in the state General Assembly, the Delaware Association of Insurance Agents & Brokers (IA&B) said. …
Robert Benmosche, who led American International Group Inc. for half a decade, said an emerging challenge from Warren Buffett’s Berkshire Hathaway Inc. hasn’t amounted to much so far. Buffett’s firm recruited AIG executives beginning last year to expand commercial coverage …
