Surplus Lines News

Record-High Direct Premiums Written for the U.S. Surplus Lines Segment in 2021

Total U.S. surplus lines direct premiums written (DPW) reached a record $82.6 billion in 2021, with momentum continuing through mid-year 2022, according to a new AM Best report. In the first six months of 2022, premiums topped $31 billion, and …

Actuaries: Climate Change, WUI Building Led to Worsening Wildfires in U.S. and California

Increasingly large and dangerous wildfires are being driven by the effects of climate change and more building in the wildland-urban interface, and while that notion may not be entirely new, the scope of the increase laid out on Thursday by …

Staying Focused on Surplus Lines: Amwins’ President Drinkwater

It’s an interesting time in the surplus lines industry with insurance rates increasing and capacity being limited in some classes of business. It’s a time when maintaining focus is critical to finding success, according to the president of Amwins Group, …

Lexington’s Levinson on Why E&S Is More Relevant Now Than Ever

When Lou Levinson became president and CEO of Lexington Insurance in late 2018, he knew the company needed a change. He believed that Lexington should be a wholesale focused distribution channel and that the company should remain focused and disciplined …

Takeaways from Our Conversation on Cannabis and Surplus Lines

It may not come as much of a surprise to those who know about insurance and cannabis that the business is written mostly by the surplus lines market. Just how much is written there vs. the admitted market? Estimates range …

Grim California Wildfire Outlook Has Insurers Forking Over Big Bucks for Modeling

Severe drought and searing temperatures are not the only proof that Californians should be worried about wildfires this year. A glaring piece of evidence that there’s ample cause for concern is this: those who will be on the hook for …

Surplus Lines Broker, Agent or Both? It’s Complicated.

Increasingly, the world of insurance distribution has become highly specialized, utilizing technology and a multitude of parties to reach customers worldwide. The surplus lines industry is no exception. Surplus lines brokers are not merely intermediaries between insureds and eligible surplus …

Top Insurance Regulatory Developments of 2020: Part 2

This is the second installment of a two-part look at the top 10 insurance regulatory developments of 2020 by attorneys at Locke Lord. The first part on Jan. 22 covered COVID-19, Insurtechs, Data Privacy, Race Equality and Pharmacy Benefit Managers. …

Jumpstart Parametric Earthquake Firm on Move in West

Jumpstart Insurance Solutions Inc. is on the move in the earthquake-prone West – and the company is now working with insurance agents. Jumpstart, a licensed surplus lines insurance broker using Lloyd’s capacity, began offering earthquake insurance in California a little …

Applied Specialty Underwriters Names Black to Lead Middle Market Surplus Lines

Applied Underwriters has named John Black, Sr., CPCU, to lead its expansion into middle market surplus lines. As executive vice president of the newly-expanded Applied Specialty Underwriters, Black, who has 35 years of underwriting experience, will focus on middle market …