Upon reflection of NAPSLO's more than 40-year history of providing networking opportunities, regulatory and legislative advocacy, and education and career development programs, I believe the industry's future is very bright and well-positioned for continued growth and opportunity.
According to the 2014 A.M. Best Surplus Lines—Segment Review, the excess and surplus lines market is strong and stable, with an 8.4% increase in direct written premium in 2013 and 10 years of no financial impairments, with 100% of surplus lines carriers rated as "secure."
The Surplus Lines Stamping Office of Texas report for 2014 also demonstrates top line growth. That report indicates total surplus lines premium reported to the 14 states with stamping offices during the year was nearly $24.2 billion, representing an increase of 7.6% over 2013, and total filings with stamping offices up 6.9% over the previous year. I anticipate this growth will also be evidenced in the forthcoming 2015 A.M. Best report.
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