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Instant Insights / 2021: Insurance trends and issues to watch

After a year as challenging as 2020, insurance professionals and insureds looking at 2021 with a positive outlook. But that doesn’t mean they are resting on their laurels. Now is the time for agents, brokers, and insurers to strategize for the months ahead. These articles provide insights into the insurance and risk management trends to keep top-of-mind this year.

Market Insights

Surplus line premiums continued growth in 2020

All 15 stamping offices reported premium growth in 2020, with more than half seeing double-digit increases.

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Premium growth along with increasing premiums per transaction are signaling a hardening market, according to Dan Maher, executive director of the Excess Line Association of New York. (Credit: Sergey A.Khakimulli/Fotolia) Premium growth along with increasing premiums per transaction are signaling a hardening market, according to Dan Maher, executive director of the Excess Line Association of New York. (Credit: Sergey A.Khakimulli/Fotolia)

Surplus line premiums continued to grow during 2020, according to state stamping office data, increasing 14.9% compared with the year prior.

In total, 2020 surplus premiums in stamping offices surpassed $41.7 billion, the Wholesale & Specialty Insurance Association (WSIA) reported. Each of the 15 stamping offices saw premiums rise this past year, with 11 reporting double-digit increases.

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Steve Hallo

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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