Though the volume of premiums has fallen off compared to previous years, specialty and E&S coverages are still in hot demand.

The excess and surplus lines property insurance market defies 2023 predictions, with rate decreases gaining momentum, according to Risk Placement Services.

Aon’s Q2 Global Market Insights report reveals a complex commercial insurance landscape that is growth oriented, but also more disciplined.

“The unknowns of legal system abuse are a significant stressor for businesses. No one wants to find their name on a billboard or news cover, putting themselves, their employees or their investors in that position.”

The E&S market’s share of the U.S. insurance industry reaches a historical high, despite a slowdown in premium growth in 2023, reports S&P Global.

Specialty insurance niches and growing tech expertise are driving continued growth of the MGA and insurer collaborations, according to AM Best.

Property markets still face significant challenges, leading some to turn to alternative risk transfer solutions.

Wearables are eliminating injuries in a multitude of industries. Could they lead to premium reductions for policyholders as well?

The E&S market’s overall growth continues unabated despite inflation-driven challenges and shrinking capacity.

As the market continues to grow, E&S carriers that once wrote general liability policies for complex manufacturing risks are entering the admitted space.

When third parties invest large sums in a lawsuit in exchange for a portion of the eventual settlement, it can affect the legal process — and the E&S market — in more ways than one.

Here are the key ongoing legislation trends likely to impact the functionality of the E&S market, from AmTrust’s Erich Bublitz. 

Although inflation is hovering near 40-year highs, the E&S market continues to provide opportunities for viable long-term stability.

What does the future hold for E&S? A sharper focus on flexibility, hiring and more is a must for 2023.

Data can streamline many parts of the underwriting process, but there’s no substitute for the human touch.

Some insurers have stopped covering climate change-related risks, opening opportunities to the excess and surplus market. E&S and specialty lines are well-suited to it, with dedicated claims and underwriting teams to take on severe weather-related exposures.

Despite having an exceptional year, the excess and surplus market has had its fair share of hurdles to overcome.

Ahead of this year’s WSIA conference in San Diego, here are some key trends affecting specialty lines. 

The high inflation in the 1970s and early 1980s led to a rough time for the insurance industry. Today’s higher numbers could lead traditional carriers to become more cautious.

Big growth areas include construction, energy, health care, environmental and professional liability. These might seem to focus on larger businesses. But main street small businesses are candidates for E&S covers as  well.