Texas Stamping Office: Surplus Lines Insurance Premium Up for 2017

Data collected by the Surplus Lines Stamping Office of Texas (SLTX) shows that insurance premium amounts recorded in May 2017 are higher than totals recorded in May of 2016 or 2015. The information was presented at the second-quarter SLTX board meeting on June 20, 2017.

To date, SLTX has recorded $2.2 billion in surplus lines premium for the first five months of 2017, as opposed to $2 billion for the same period in 2016. The past month alone accounted for $535 million in total premium, which is an increase over $510 million in May 2016 and $434 million in May 2015.

On June 1, SLTX unveiled a new website, www.sltx.org, one of the first milestones in a long-term technology initiative that began last year. SLTX also has plans to launch a new online filing system, which will have increased functions for accounting and reporting.

The SLTX board of directors will meet again on Sept. 26, 2017.

Source: SLTX

Article source: http://www.insurancejournal.com/news/southcentral/2017/06/23/455619.htm