April 2022
Texas Surplus Line Reporter
We are insurance industry professionals working
and writing about this business for over 40 years.
Articles
Texas surplus lines premium grows, but at a slower pace
Premium growth in surplus lines appears to be slowing, but still growing. The first quarter ended with $2.2 billion in premium, showing a first quarter premium growth of 10.01 percent compared with 2021. Last year’s first quarter premium growth was 20.1 percent over...
SLTX board votes to retain 0.075 percent stamping fee
On March 31, the board of directors of the Surplus Lines Stamping Office of Texas voted unanimously to retain the 0.075 percent stamping fee rate for 2023, a reduced rate that went into effect for all policies with inception dates after Jan. 1, 2021. Nearly two years...
Board of directors reviews audit of SLTX’s 2021 financials
Austin accounting firm Calhoun, Thomson and Matza’s audit report for the 2021 year financials of the Surplus Lines Stamping Office included high marks for the agency’s financial records, information and management’s cooperation. The audit was completed on Feb. 22 and...
The claims process gravitates toward Internet of Things
By 2025, through telemetrics, 25 percent of cars involved in collisions will be carrying the information needed to establish negligence for the accident, and half the time insurers will receive first notice of the loss when the accident occurs. These were among the...
Insurance attorney addresses cyber risks and coverages
“If you fail to prepare, prepare to fail.” That is how Fred Karlinsky concluded his presentation on March 7 about cybersecurity insurance at LDI Conference 2022 hosted by the Louisiana Department of Insurance in New Orleans at the Higgins Hotel, part of the World War...
Market Scout: First quarter 2022 rates continue to climb
Rates for almost all homeowners across the U.S. increased in the first quarter of 2022, regardless of the geographic location or value of the home, according to MarketScout’s Market Barometer. For homes below $1,000,000 in value, rate increases of 5.3 percent were...
What if? What now? What next?
By MICHAEL G. MANES Manes and Associates I hope to trigger thinking and dialogue with what follows. This is my opinion. Some will agree. Some will disagree. Some will accept these thoughts, some will challenge them, and some will cherry pick what they like and ignore...
Lloyd’s back in the black with best results in six years
London ViewsBy LEN WILKINSLondon CorrespondentAs predicted, Lloyd’s swung back into the black with an overall profit of almost $3 billion for its 2021 full year, against 2020’s loss of $1.17 billion. The wine bars and pubs around Lime Street have been very, very busy....
Bryan Clark elected to serve WSIA as 2022-23 president
A summer internship at Gorst and Compass between his junior and senior year set in motion Bryan Clark’s career path. In 1997 following graduation from San Diego State University with a B.S. degree in business management, Clark joined the firm as an underwriter...
News In Brief
News In Brief
PEOPLE On March 25, the Coalition Against Insurance Fraud announced that Joseph Matos has joined the association as its director of communications. His experience includes working for top ad agencies and providing creative and marketing direction for such clients as...