surplus lines market News

New CEO Levinson on Rebuilding Lexington Insurance

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 …

How New Business Is Creating a New Wholesaler-Retailer Relationship

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 …

Surplus Lines Market Had a Record Breaking Year in 2017

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 …

SLSOT Using Data to Better Communicate with Surplus Line Market Stakeholders

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 …

Wildfires, and Now El Niño May Boost Californian’s Appetites for Surplus Lines

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 …

New Delaware Law to Help Lift Producers’ Surplus Lines Administrative Burden

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. …

Execs Hired by Berkshire Specialty Balked at AIG Philosophy: Benmosche

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 …