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.