Advertise
Resources
Member, Beacon International Group, Ltd.
KANSAS CITY, Mo.—Pricing, capacity and terms and conditions in the surplus lines market remained relatively flat in the first quarter of 2009 compared with the same quarter in 2008, according to a National Assn. of Surplus Lines Offices' membership survey.
Of the 178 NAPSLO members responding to the survey, 48% said they see no change in the overall availability of specialty insurance coverage so far this year and 44% said terms are about the same this year compared with last year.
Property, professional liability, directors and officers liability, and health care and medical malpractice coverages were cited most often as having flat pricing during the quarter, while casualty, excess and umbrella, environmental and transportation lines were cited most often as having price declines.
Catastrophe-exposed property was the only coverage category for which Kanas City, Mo.-based NAPSLO members said prices had increased in the quarter.
Overall, 54% of the respondents said submission activity either is increasing slightly or increasing consistently now vs. 12 months ago, while 22% said it's about the same and 23% said it's declining.
The survey is available at: www.napslo.org.