Surplus Lines

Surplus Lines By State

The surplus lines market, a group of highly specialized insurers exists to provide coverage that is not available through licensed insurers in the standard insurance market. Each state has surplus lines regulations and each surplus lines company is overseen for solvency by its home state. A number of states maintain lists of eligible surplus lines companies and some keep a list of those that are not eligible to do business in that state. In addition, depending on the state, the surplus lines agent or broker, who must be licensed, is responsible for checking the eligibility of the company.

For the many thousands of businesses that rely on some level of surplus line protection to keep their doors open, surplus lines is an important segment of the market. In 2014, surplus lines accounted for about 13.9 percent of the U.S. commercial lines market, up from 6.1 percent in 1994, according to an August 2015 A.M. Best report.

 

Top 10 States By Gross Surplus Lines Premiums, 2014-2015

($ millions)

Rank  State 2015 2014
1 California  $6,899.3 $5,990.7
2 Texas  5,203.8 5,279.2
3 Florida  4,925.4 4,646.0
4 New York  3,631.2 3,403.1
5 New Jersey  1,710.0 1,633.0
6 Illinois  1,419.2 1,238.4
7 Louisiana  1,370.0 1,443.8
8 Georgia  1,039.3 1,003.8
9 Massachusetts  907.7 799.2
10 Washington  763.2 735.2

Source: Business Insurance (www.businessinsurance.com), October 2016.

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Gross Surplus Lines Premiums By State, 2015 (1)

($ millions)

State Total all lines
Alabama  $529.8
Alaska  126.0
Arizona  468.0
Arkansas  N/A 
California  6,899.3
Colorado  726.2
Connecticut  535.6
Delaware  106.9
D.C 244.2
Florida  4,925.4
Georgia  1,039.3
Hawaii  231.1
Idaho  N/A 
Illinois  1,419.2
Indiana  473.8
Iowa  286.6
Kansas  181.6
Kentucky  211.7
Louisiana  1,370.0
Maine  99.0
Maryland (1) 498.8
Massachusetts  (2)  907.7
Michigan  N/A 
Minnesota  499.8
Mississippi  361.5
Missouri  624.3
Montana  92.3
Nebraska  154.7
Nevada  277.1
New Hampshire  90.5
New Jersey  1,710.0
New Mexico  94.3
New York  3,631.2
North Carolina  666.3
North Dakota  108.4
Ohio  N/A 
Oklahoma  380.4
Oregon  331.0
Pennsylvania  N/A 
Rhode Island  (3) 21.6
South Carolina  622.7
South Dakota  52.5
Tennessee  (4) 592.3
Texas  5,203.8
Utah  225.6
Vermont  49.5
Virginia  665.9
Washington  763.2
West Virginia  103.1
Wisconsin  330.2
Wyoming  58.9
United States $38,990.9

(1) Business Insurance estimate.
(2) Massachusetts Division of Insurance estimate.
(3) Rhode Island Division of Taxation estimate.
(4) Tennessee Department of Commerce and Insurance estimate.

N/A=Data not available.

Source: Business Insurance (www.businessinsurance.com), October, 2016.

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