Surplus Line Premium Sees 82 Percent Increase, Says SLA

Ted Pierce, executive director of the Surplus Line Association of California (SLA) released the association’s nine month total for processed surplus line premium showing an 82 percent increase over the 2002 premium total for the same period.

The $3,884,507,930 in 2003 premium is attributed to the continued impact of the hard market.

The Association processed a total of 278,613 insurance policies in the last nine months compared to 222,392 processed in 2002.

“A third of this business was written for general liability coverage followed by commercial DIC, stand alone earthquake, commercial property, errors and omissions, and excess liability,” Pierce said.