Once upon a time, the Surplus Lines industry was regarded as the "safety valve" of the Property & Casualty industry — the avenue for risks that were simply too complex, too unusual, or in some cases, just not desirable enough for the mainstream market to take on.
How times have changed. Over the last 25 years, E&S has gained an increasing share of the P&C marketplace; the segment has grown by more than 35% since 2011, despite continued downward pressure on rates. Increasing demand for solutions to complex risks and new product innovation have been and continue to be key drivers.
Empowered by freedom of rate and form, the E&S market has become the greatest source of organic growth in the P&C space, where solutions are crafted for exposures both brand-new and those evolving within existing lines of business that now, thanks to cyber threats, will never again be the same. Where there are unusual threats to business, Surplus Lines can identify and seize opportunity.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
