Texas recorded $947.48 million in surplus lines premium, representing a 24.5% increase in premiums over June 2020, the Surplus Lines Stamping Office of Texas (SLTX) reported.
SLTX has recorded $4.58 billion in premiums year-to-date, which represents a 16.2% increase in premiums recorded for same period in 2020.
Various lines of business experienced notable growth over June 2020, with the largest increase being fire/allied lines coverage (residential, commercial, and historical codes), which rose almost $92 million (or 30.2%). Additionally, excess/umbrella and commercial general liability (including new codes that were historically combined) coverages also recorded growth, up $29 million (or 22.3%) and $19.2 million (or 19.8%), respectively.
Roughly 75% of total premium increases can be attributed to these three coverages.
June 2021 also reflected a 2.3% increase in the overall number of transactions filed (95,183) over the same period in 2020, resulting in a total difference of 111 fewer transactions filed year-to-date. This same period also reflected a 0.4% decrease in policies filed (64,654), resulting in a 2.9% decrease in policies filed for the year so far.
Source: SLTX
Topics Texas Excess Surplus
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