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 2013, surplus lines accounted for about 13.7 percent of the U.S. commercial lines market, up from 6.1 percent in 1993, according to a September 2014 A.M. Best report.

 

TOP TEN STATES BY GROSS SURPLUS LINES PREMIUMS, 2012-2013

($ millions)

Rank State 2013 2012
1 California $5,306.0 $5,057.1
2 Texas 4,883.8 4,339.3
3 Florida 4,592.5 4,204.7
4 New York (1) 2,911.3 2,625.6
5 New Jersey (2) 1,458.3 1,250.0
6 Louisiana 1,374.5 1,272.2
7 Illinois 1,160.1 1,075.4
8 Pennsylvania (3) 1,066.6 956.7
9 Georgia 848.0 802.5
10 North Carolina 822.3 575.8

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

Source: Business Insurance (www.businessinsurance.com), September 15, 2014.

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GROSS SURPLUS LINES PREMIUMS BY STATE, 2013 (1)

($ millions)

State Total all lines
Alabama $500.8
Alaska 113.4
Arizona 406.8
Arkansas 215.2
California 5,306.0
Colorado 583.6
Connecticut 494.6
Delaware 69.1
D.C. 212.7
Florida 4,592.5
Georgia 848.0
Hawaii 205.0
Idaho 76.9
Illinois 1,160.1
Indiana 448.2
Iowa 226.4
Kansas 172.4
Kentucky 159.0
Louisiana 1,374.5
Maine 78.1
Maryland 409.8
Massachusetts 696.4
Michigan 581.2
Minnesota 425.0
Mississippi 345.3
Missouri 559.7
Montana 72.1
Nebraska 143.8
Nevada 248.1
New Hampshire 77.0
New Jersey 1,458.3 (1)
New Mexico 9.8 (2)
New York 2,911.3 (3)
North Carolina 822.3
North Dakota 88.8
Ohio 703.6
Oklahoma 340.7
Oregon 254.9
Pennsylvania 1,066.6 (4)
Rhode Island 21.9
South Carolina 409.8
South Dakota 41.5
Tennessee 559.6
Texas 4,883.8
Utah 179.6
Vermont 51.0
Virginia 570.8
Washington 684.8
West Virginia 80.5
Wisconsin 294.5
Wyoming 57.4
United States $36,277.6

(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 (www.businessinsurance.com), September 15, 2014.

View Archived Tables