Original source: https://www.insurancejournal.com/news/west/2019/04/23/524563.htm
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Insurance Journal (04/23/19) Jergler, Don
The Surplus Line Association of California says wildfires appear to have changed more Californians to the surplus lines market, pushing homeowners up surplus premium volume to more than $122 billion in 2018. The team reported 49,370 trades for 2018, including new policies, renewals, endorsements, and other items. In 2017, the previous year for the California Department of Insurance has data on its website, surplus lines policies accounted for 1.4percent of all homeowners premiums written from the nation. It’s estimated that roughly 1 percent were accounted for by the FAIR Plan policies of the state. That leaves the admitted market into account for 97.6% of homeowners premiums in California based on the newest data available…. Read More
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