|
YOUR OCTOBER SNAPSHOT |
|
|
|
|
Illinois Surplus Lines Market Doubles in a Decade |
|
Illinois’s surplus lines market has more than doubled over the past 10 years, now reaching $4.4 billion in annual premiums, with growth led by GL, property, auto liability and medical malpractice coverage.
A new report from Insurance Business spotlights Illinois’s remarkable expansion and includes insights from SLAI CEO David Ocasek, who notes that the market has grown from just over $200 million in 1999 to today’s multi-billion-dollar benchmark.
|
|
|
“The year 1999 was probably our lowest year of premium ever, with
just over $200 million,” said Ocasek. “Here we are in 2024, with $4.4 billion. Growth has been remarkable over the last 10 years.”
|
Key Highlights |
|
|
|
GL, excess GL, property and commercial auto coverage saw the largest gains
|
|
|
Premiums per transaction at the end of 2024 rose 3.4% year-over-year, signaling a resilient
market
|
|
|
Illinois remains a stable, healthy and well-regulated environment for growth
|
|
|
|
|
| Read the Full Article Here
|
|
|
Make Sure We Can Reach You |
Before the year ends, double-check that your contact information is current with SLAI and the National Insurance Producer Registry (NIPR).
Having the right address and email on file ensures you receive all time-sensitive mailings and updates without delay, especially during tax filing season.
Update your information in NIPR and confirm your details with SLAI today!
|
|
|
|
|
|
|
|
|
|
|
This month, our leadership team attended both the Big I Illinois Convo and the Surplus Lines Law Group Fall Meeting, connecting with peers, discussing upcoming market shifts and reinforcing SLAI’s presence on a national scale.
We’re proud to continue engaging with industry partners and bringing back insights to support our members.
|
|
|
|
|
|
|
