Florida E&S Market Reports $1.2B in August 

As we pass the midpoint of Q3, Florida’s surplus lines market continues to soften, with growth flattening. August premium totaled $1.2B, down 1% year over year, while policy count rose 10% to 142K. The average cost per policy fell 10% to $8,202, reinforcing a more competitive market.

MONTHLY PREMIUM BREAKDOWN

MONTHLY POLICY COUNT BREAKDOWN

PERFORMANCE BY LINE OF COVERAGE

Within the Top 10 lines, Commercial Property and Commercial General Liability remain the leaders by premium and policy count, with several notable movers: 

• Commercial Property remains the top line and a notable pocket of softening. Premium reached $336.7M (+6% YoY) while policy count rose 54% to 25,582, pushing the average cost per policy down 31% to $13,160 YoY. 

• Homeowners-HO-3 advanced from fifth to fourth place, with premium up 16% (from $59.7M to $69.5M) and policy count up 59% (from 9,575 to 15,206) YoY. The average cost per policy declined 27% (from $6,235 to $4,568). 

• Homeowners-HO-5 re-entered the Top 10 at the tenth spot, repeating its brief March 2025 appearance. Premium rose 28% (from $17.2M to $22.0M), while policy count nearly doubled, up 99% (from 513 to 1,023) YoY. The average cost per policy decreased 36% (from $33,559 to $21,519). 

• Windstorm and/or Hail-Commercial saw premium decline 10% versus August 2024 (from $32.7M to $29.4M), while policy count rose 94% (from 1,079 to 2,098) YoY. The average cost per policy fell 54% (from $30,269 to $13,994). 

“With the repeal of the diligent effort requirement now firmly in effect, the uptick in homeowners policy volume may reflect stronger appetite among surplus lines carriers to write in this market, drawn by both the appeal of homeowners risks and the potential for competitive pricing," said FSLSO Executive Director Mark Shealy. "That said, it’s still too early to draw firm conclusions. We’ll continue monitoring activity in the months ahead to determine whether this proves to be a lasting trend."

RENEWALS VS. NEW BUSINESS | AUGUST

Renewals rose 4 percentage points year over year, consistent with a softening market where incumbents retain more accounts through competitive pricing and steadier capacity. 

• New Business: Share of policy counts dipped from 45% to 41% versus August 2024; premium decreased 15% while policy counts were flat. 

• Renewals: Share of policy counts increased from 55% to 59%; premium rose 12%, and policy count climbed 18%. 

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