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The surplus lines during the first half of the year increase sharply



Surplus premiums reported to the U.S. stamp and service office surplus lines amounted to $ 24.04 billion in the first half of this year, an increase of 21.9% over the previous year, the Wholesale & Specialty Insurance Association said Monday.

of reported transactions increased by 7.2% to 2.6 million, according to the report from the Kansas City, Missouri-based association.

States with stamp offices accounted for 62.7% of the US premium volume in 2019, according to Stamp Office and Oldwick, New Jersey-based AM Best Co. reports, says the statement.

Each of the stamp agencies reported premium increases, and all but Texas, which was largely flat, reported increases in transactions.

Idaho had the largest increase in transactions at 1

3,257, an increase of 26.7% from the first half of 2020. Wendy Tippetts, head of the Boise-based Surplus Lines Association in Idaho, said transactions increased significantly in accidents and health, general responsibility and fire and allied lines.

Growth in other western states was attributed to construction, according to the report.

In January, the association reported a 14.9% increase to $ 41.7 billion for the full year 2020, despite a 1.3% decrease in transactions to $ 4.9 million. Catalog

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