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 2012, surplus lines accounted for 13.3 percent of the U.S. commercial lines market, up from 11.1 percent in 2002 and 5.3 percent in 1992, according to September, 2013 A.M. Best report.

 

TOP TEN STATES BY GROSS SURPLUS LINES PREMIUMS, 2011-2012

($ millions)

Rank State 2012 2011
1 California $5,057.1 $4,998.7
2 Texas 4,339.3 4,220.2
3 Florida 4,204.7 3,730.7
4 New York (1) 2,625.6 2,883.1
5 Louisiana 1,277.2 1,255.6
6 New Jersey (2) 1,250.0 1,096.1
7 Illinois 1,075.4 1,004.6
8 Pennsylvania (3) 956.7 870.4
9 Georgia 802.5 775.7
10 Washington 708.6 592.3

(1) Adjusted to remove late-filled premiums.
(2) New Jersey Division of Insurance estimate.
(3) Pennsylvania Insurance Department estimate.

Source: Business Insurance, September 23, 2013.

View Archived Tables

 

 

GROSS SURPLUS LINES PREMIUMS BY STATE, 2012 (1)

($ millions)

State Total all lines
Alabama $452.1
Alaska 107.5
Arizona 339.8
Arkansas 193.6
California 5,057.1
Colorado 465.5
Connecticut 453.8
Delaware 51.9
D.C. 171.5
Florida 4,204.7
Georgia 802.5
Hawaii 184.6
Idaho 60.2
Illinois 1,075.4
Indiana 391.4
Iowa 210.3
Kansas 169.5
Kentucky 143.0
Louisiana 1,277.2
Maine 70.1
Maryland 387.1
Massachusetts 659.3
Michigan 548.8
Minnesota 356.4
Mississippi 307.2
Missouri 540.8
Montana 70.1
Nebraska 132.5
Nevada 232.0
New Hampshire 75.4
New Jersey 1,250.0 (1)
New Mexico 9.9 (2)
New York 2,625.6 (3)
North Carolina 575.8
North Dakota 84.3
Ohio 648.7
Oklahoma 282.5
Oregon 226.3
Pennsylvania 956.7 (4)
Rhode Island 21.3
South Carolina 463.4
South Dakota 41.7
Tennessee 510.1
Texas 4,339.3
Utah 170.3
Vermont 49.8
Virginia 605.4
Washington 708.6
West Virginia 82.3
Wisconsin 268.2
Wyoming 60.2
United States $28,329.2

(1) New Jersey Division of Insurance estimate.
(2) Business Insurance estimate.
(3) Adjusted to remove late-filed premiums.
(4) Pennsylvania Insurance Department estimate.

Source: Business Insurance, September 23, 2013.

View Archived Tables