Premiums for extra strains rose sharply within the first half of the 12 months – Enterprise Insurance
Surplus-line premiums reported to U.S. surplus-line stamp and service bureaus were $ 24.04 billion for the first half of this year, up 21.9% from the same period last year, Wholesale & Specialty said Insurance Association on Monday with.
The number of reported transactions rose 7.2% to 2.6 million, according to the report from the Kansas City, Missouri-based association.
According to the Stempelstelle and A.M. based in Oldwick, New Jersey, 62.7% of the US premium volume in 2019. Best Co. reports, the statement said.
Each of the stamping bureaus reported increases in premiums, and all but Texas, which was essentially unchanged, reported increases in transactions.
Idaho saw the largest increase with 13,257 transactions, an increase of 26.7% over the first half of 2020. Wendy Tippetts, manager of the Boise-based Surplus Lines Association of Idaho, said high-limit casualty and health transactions in general have increased significantly in liability and fire and allied lines.
According to the report, growth in other western states was due to construction.
In January, the association reported a 14.9% increase to $ 41.7 billion for full 2020, despite a 1.3% decrease in transactions to $ 4.9 million.