State of the Surplus Lines Market 2020
Brady Kelley, executive director, WSIA said the excess and surplus sector is into its eighth year of growth.
Despite disruption from the COVID-19 pandemic, stamping offices throughout the United States report ongoing growth in the excess and surplus market, WSIA Executive Director Brady Kelley said.
Bryan Sanders, president, Markel Specialty and 2020-2021 WSIA president, said few industry participants have seen many firming insurance markets, but those conditions will change as better pricing fuels fresh competitors.
Natural catastrophes, social inflation and a challenging investment environment raise the stakes for insurers that underprice business, Bryan Sanders, president, Markel Specialty and WSIA president said.
Marya Propis, senior vice president, director of distribution and broker partnership, All Risks Ltd., said insurers' efforts to increase diversity and inclusion will pay off with more resourceful, adaptive workforces.