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Trends in the Surplus Lines Industry 2023

Trends in the Surplus Lines Industry 2023

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What's going on in the surplus lines world? Is it still the wild-west or does it calm down sometimes? Are prices on the rise? Is that market hardening, like others are? Join us as Chris Behymer helps us to understand the surplus lines sector better.

$129.00

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Date Mar 16, 2023
Time 10:30am Pacific / 1:30pm Eastern
Duration 1 hour
Location Online Webinar
Formats Live
Instructor Chris BehymerChris Behymer

According to AM Best, in 2021 the property and casualty insurance industry wrote almost $800 billion in premium.  While most of this total goes to standard or preferred carriers, there is a small percentage (roughly 10%) that “main street” insurers want nothing to do with.  Examples include distressed risks, insureds that require high limits of property or casualty coverage, and new and unique exposures to loss.

These are but a few situations where the surplus lines industry responds to the needs of their policyholders.  This session will provide participants with an overview of some of the financial, regulatory, economic, and distribution trends that impact this segment of our business.

Topics to be covered include:

  • A historical perspective on the volume of business written by surplus lines carriers
  • Distinction between admitted and non-admitted insurers
  • How surplus lines carriers are regulated
  • Property challenges associated with wildfires, hurricanes, hailstorms, and other natural catastrophe events
  • The impact of multi-million-dollar jury verdicts for general liability and auto lawsuits
  • Professional liability issues with a focus on cyber coverage
  • How mergers and acquisitions have changed the face of the distribution system for surplus lines products and services.
$129.00
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