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.

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Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].