Texas Records $613.58M in Surplus Lines Premium in January

Surplus lines premium continues its steady rise in Texas, with $613.58 million recorded in January, and increase of 13.6% compared with January 2020, according to the Surplus Lines Stamping Office of Texas (SLTX).

Many lines of business increased over the end of the first month, SLTX said. Oil and gas coverages increased 30.7%, commercial auto liability was up 40.8%, and cyber liability rose by 42.9%. Excess/umbrella coverage also recorded growth, up 34.8% from $98.5 million to $132.7 billion.

As with other months in 2020, January 2021 continues to reflect a decrease in the overall number of transactions filed (74,911) with SLTX with an 11.1% decrease over the same period in 2020. This total includes all transactions, such as endorsements, cancellations and renewals.