A.M. Best Co. shares latest surplus lines data with PIWA
Hot off the press, the latest data on the country’s surplus lines industry was made available at the annual conference of the Professional Insurance Wholesalers’ Association of New York State, Inc. by A.M. Best Co.’s Senior Financial Analyst David S. Blades, CPCU. Blades participated on the rating firm’s team that had just developed and released its annual report on the state of surplus lines.
By permission, the valuable data which Blades presented at the recent conference can be viewed here.
Some 2008 highlights: Surplus lines direct written premium declined by the largest percentage since 1988. Policyholders’ surplus declined for the first time since 2001. The combined ratio rose sharply; yet, unlike the general property-casualty industry, it remained under 100.
Blades took part in a panel discussion entitled “Due diligence: Charting a prudent path in a shaky environment,” moderated by Michael DeFeo, vice president, NIF Group, with featured speakers: Steven Weisbart, Ph.D., CLU, vice president and chief economist, Insurance Information Institute; Patricia Roberts, president, General Star Insurance Co.; Matthew B. Scott, president, Penn-America Group; and Gary Ricker, president, Pacific Pro Intermediaries.