eNews

SLTX Executive Director Transition

Pursuant to a September 17, 2019, public vote of the Surplus Lines Stamping Office of Texas (SLTX) Board of Directors, Executive Director Norma Essary will separate from employment, effective October 17, 2019. Ms. Essary will be on paid administrative...

US Surplus Lines DWP Up 11.2% in 2018

The national excess and surplus lines (E&S) market recorded $49.89 billion in direct written premiums in 2018, an 11.2% growth over 2017, according to a report by A.M. Best Co. This increase surpasses the 5.8% growth recorded in 2017 over 2016. An...

Global Cyber Losses Could Hit $6 Trillion by 2021

Annual global cyber losses are expected to reach $6 trillion by 2021, and total cyber security spending is set to surpass $1 trillion over the five years leading up to 2021, according to a report released by Aon. The number of cyber events businesses...

Study Finds P&C Pricing Will Likely Gain Momentum

The current pricing structure in the insurance industry may exceed the market’s course correction of 6-7 years ago, but it will likely not reach the same status as hard markets in the 1970s, 1980s, and 2000s, according to property/casualty insurance...

TDI Issues Call for Rule Updates

The Texas Department of Insurance (TDI) is accepting submissions to identify Texas rules that should be changed or modernized. The initiative was announced earlier this year. As part of the review, stakeholders are asked to submit a brief statement on each...

US Flood Premium Potential More Than $41B

The total potential for residential flood premium in the contiguous United States is $41.6 billion, according to a report on the personal flood insurance market by data analytics and risk assessment firm Verisk Analytics. While flooding is the most...

Updated Insurer Financial Summaries Available

SLTX has created new financial summaries for eligible surplus lines insurers in Texas, which include information through 2018. Agents and brokers can use these summaries to evaluate the financial condition of surplus lines insurers. The summaries can be...

ICT Hurricane Tour Underway

The Insurance Council of Texas (ICT) has kicked off its 14th annual Hurricane Tour along the Texas coast. Representatives from the National Weather Service, Texas Department of Insurance, Institute for Business & Home Safety, and insurance agents from...

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