California Processes 15.5% Fewer Surplus Line Premiums

The Surplus Line Association of California has processed $1.9 billion in premium for the first six months of 2010, a decrease of 15.5 percent compared to the same period in 2009. The total number of policies filed with the SLA from January 1 through June 30, 2010, was 209,545, representing a 4 percent decrease compared to the 2009 six month policy count.

If the trend continues, SLA expects it will process $3.8 billion in premium for the year, according to Joy Erven, stamping office director.

Year-to-date, U.S. domiciled insurers wrote 76.4 percent of the California surplus line premiums, while Lloyd’s wrote 17.1 percent and all other alien insurers wrote 5.4 percent.

The top 10 surplus line brokers in California are:

Source: SLA