The A.M. Best Company, with a grant from WSIA and the Derek Hughes/NAPSLO Educational Foundation, released its annual Best's Special Report and took a close look at surplus lines in the U.S.
For the 13th year in a row, the surplus lines industry reported no financially impaired companies, in contrast to the admitted property & casualty industry's 223 known financial impairments over this time period.
Although A.M. Best's outlook for the P&C industry's commercial lines market is currently negative, its view of the surplus lines segment is stable based on the expectation that surplus lines insurers will remain rational in terms of pricing, exhibiting the type of discipline during the most competitive portions of the market cycle, which has historically allowed the market to outperform the overall P&C market.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
