Thursday, February 17, 2011

Surplus Lines Premiums Reported to Stamping Offices Drop in 2010

Premium reported to the 14 U.S. stamping offices in 2010 totaled $18.5 billion, a decrease of 4.8% from the prior year according to a report was issued by the Surplus Lines Stamping Office of Texas.

The report noted that the number of filings was virtually unchanged, at 3.2 million. Three states (Idaho, Illinois, and Minnesota) reported small increases in premium, with the remaining states all indicating declines, ranging from 2.2% (New York) to 14% (Arizona).

Surplus lines premiums reported to the stamping offices continued a multi-year decline in 2010, falling to $18.5 billion, down from $19.4 billion in 2009,  $21.1 billion in 2008 and $23 billion in 2007.

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