Filed Under:Agent Broker, Agency Management

Exec Insights On Historic E&S Market

Executives trying to predicting how the soft market will play out for the excess and surplus lines industry have absolutely no point of reference based on past experience to guide them, an E&S executive said recently.

"You have to consider that the surplus lines industry as a whole is experiencing a historic decline in premium volume," said Thomas Mulligan, president and chief executive officer of Western World Insurance Group in Franklin Lakes, N.J.

Robert Lala, senior vice president of the casualty division of Liberty International Underwriters, said that the E&S market is supposed to fill gaps when the admitted market isn't providing coverage. "So to say they're encroaching on our business is a little bit of a misnomer. They're writing different accounts than they previously did, but we have to figure out ways to work around that--to fill other gaps."

Louis Levinson, president of the E&S operations of Argo Group, said: "The E&S market generally has been more responsible than the standard markets. We jettison premium sooner, and we get back in when the time is right."

Q: What level of price changes are you seeing currently?

Mr. Levinson didn't cite actual figures, but said that rate changes, while not meaningful, have crossed from negative to positive territory.

Featured Video

Most Recent Videos

Video Library ››

Top Story

15 tips for driving safely on ice and snow

More than 800 people die each year in the U.S. in vehicle crashes caused by snow, sleet and freezing rain.

Top Story

PIA's national president was born to insure

Robert W. Hansen Jr., a fourth-generation insurance professional, reflects on what drives him to keep selling after more than 30 years in the business.

More Resources


eNewsletter Sign Up

Agent & Broker Insider eNewsletter

Proven success tips and essential information to help agents and brokers grow their practice – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.