Florida-based FCCI Moving Into Excess and Surplus Market Oct. 1

Sarasota-based FCCI Insurance Group will soon start writing excess and surplus lines across much of the country, the carrier announced this week.

Florida, Georgia and Texas insurance agents can submit general liability and commercial excess business to FCCI Specialty Insurance Co. starting Oct. 1. By the first quarter of 2025, agents in the Midwest, Mid-Atlantic and Gulf Coast regions can submit those coverages, according to a news release.

Company leadership did not say what prompted FCCI to enter the excess and surplus lines field at this time, but the market is growing rapidly as primary carriers have raised premiums or reduced exposure in several states. Florida, in particular, has seen the surplus lines’ commercial coverage market rise – from $4.8 billion in premium written in 2022 to almost $7 billion in 2023, the Florida Surplus Lines Service Office has reported.

The surplus lines’ share of the Florida property insurance market has risen significantly, from 30% in 2018 to 36% last year. Much of that growth has been in coverage for high-end properties, FSLSO said.

FCCI was founded in 1959 and provides commercial property and casualty insurance, including workers’ compensation, auto and inland marine, as well as risk control services and surety bonds. The firm said it writes through 551 contracted agencies and 3,839 independent agents in 20 states.

As of late 2022, FCCI held just 237 commercial and surplus policies in Florida, the state Office of Insurance Regulation has reported.

Cina Welch is president and CEO of FCCI Insurance Group.

Topics Florida Excess Surplus