Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly shedding undesirable accounts. Busy adapting to a market that is increasingly digital. And busy multiplying their numbers of accounts and premium volume.
While many U.S. businesses continue to lag, the surplus lines insurance industry is experiencing significant growth.
The flow of business into the surplus lines channel is up 20% or more over last year, according to Timothy Turner, chairman and CEO of RT Specialty, Ryan Specialty Group’s wholesale