Texas surplus lines premium during the month of April 2020 reached $741.68 million, according to the Surplus Lines Stamping Office of Texas (SLTX). This is a 14.8% increase over the same period in 2019, SLTX reported.
Additionally, through April, each month’s recorded premium has been the highest ever reported for that month.
In 2020, the largest premium recorded thus far by month was in April at $741.68 million followed by March with $622.75 million. The month with the lowest total recorded premium so far was February with $502.93 million, however; this total is still the most premium reported for the month of February when compared to previous years.
Various types of surplus lines coverage have experienced growth in 2020 over 2019. At the end of the month of April, flood has grown by 37.64%, and fire and allied lines, the largest coverage code, jumped 24.81% from 2019.
So far, SLTX has recorded 350,818 total filings over the end of April in 2020. SLTX has also seen an increase in the number of policies filed for exempt commercial purchasers (ECP). Through April, there have been 779 policies for ECPs for the year, compared with 587 during the same period in 2019, a 32.7% year over year increase.
Source: SLTX
Topics Trends Texas Excess Surplus Pricing Trends
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