August Premiums Finish at $1.2B for Florida's E&S Market

Florida's E&S market remains notably variable as August premium totals peaked at $1.2 billion, a 4% decrease from August 2023. Policy count, however, showed a 9% increase over August 2023, reaching a total of 121,576.

Year-to-date, annual premium reached $12.5 billion through August, representing a 12% increase compared to the same period in 2023. Policy count grew 8% to over 979 thousand.

Monthly Premium Breakdown

*Percentage of change based on same reporting period in 2023 and 2024.

Premium Comparison 2023 vs. 2024

Monthly Policy Breakdown

*Percentage of change based on same reporting period in 2023 and 2024.

Policy Comparison 2023 vs. 2024

New Business and Renewals

New business and renewal ratios showed little movement in August, with new business at 44% and renewals at 56%. Year-to-date ratios remained consistent at 43% and 57%, respectively.

New Business & Renewals

Top Coverages in August

Commercial Property remains the dominant E&S coverage in Florida at $316.8 million in premium. This figure represents a 24% decrease from August 2023, while policy counts showed a 5% increase over the same period. 

While other coverages, including Excess Commercial General Liability, Commercial Package, Cyber Liability, and Miscellaneous E&O Liability, experienced year-over-year premium declines, policy count increased in all coverages except Commercial Package and Cyber Liability.

Miscellaneous Liability stood out with substantial growth, increasing premium by over 400% year-over-year to $67.8 million and policy count by 200%.

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