New Jersey coastal property owners are having a hard timefinding insurance placements in the primary market, but insuranceremains available in the surplus lines, according to an agent groupsurvey.

A poll of 49 agents conducted by the Professional InsuranceAgents of New Jersey finds that insurance is still available tocoastal risks, but compared to last year there is more difficultyfinding coverage.

Of the 49 surveyed, 33 said availability was worse or much worsethan last year. Almost all agents say that insurers have placedsome type of restriction on the risks, and most say that more thanhalf of their coastal risks are now written in the surplus linesmarket. A total of 16 agents said they are writing all of theirrisks in surplus lines.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • 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.
NOT FOR REPRINT

© 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.