SLA Reports 44 Percent Increase in Calif. Surplus Lines

Ted Pierce, executive director of the Surplus Line Association of California, released the association’s 2003 six month totals for processed surplus line premium, revealing a 44 percent increase over the 2002 premium total for the same period.

The $2,377,068,232 in 2003 premium is attributed to the continued impact of the hard market. The Association processed a total of 179,737 insurance policies in the last 6-months compared to 151,516 processed in 2002.

“The Surplus Line Association has been very busy the past 6-months processing record levels of California surplus line premium data due to an obvious continuation of the hard market,” Pierce said.