Industry Issues | Surplus Lines Reform

U.S. Surplus Lines Service/Stamping Offices Report Double-Digit Growth in 2018

Market Update: Surplus Lines Service/Stamping Offices

The Surplus Lines Stamping Office of Texas issued its year-end 2018 report of service/stamping office statistics. The report compares premium and filings received by the 15 offices in AZ, CA, FL, ID, IL, MN, NV, NY, OR, MS, NC, PA, TX, UT, WA.
 
Highlights from the report include:

  • Total surplus lines premium reported to the stamping offices was $31.4 billion for calendar year 2018, representing an 11.3% increase over the $28.2 billion in calendar year 2017.
  •  Approximately 4.4 million filings were made with the stamping offices in 2018, up 7.5% from 2017.
  • States that experienced double-digit premium increases in 2018 were Nevada (23.9%), Washington (23.1%), California (16.5%), Texas (11.4%), Florida (10.9%), and New York (10.6%).
  • SLTX commented that growth areas for surplus lines included private flood, drones, the shared/service economy, robotics, cyber, and terrorism
  • The premium growth reported in the stamping office states represents an increase of nearly 48.2% for the overall preceding ten-year period.

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