Looking at the E&S Market in 2023


The Excess and Surplus Insurance market in 2023 is thriving, and there is plenty of optimism. The E&S market has seen explosive growth over the last few years, with a surge of new entrants taking advantage of lower barriers to entry and improved access to capital.  

Excess and Surplus property insurance has recently experienced the highest growth rate due to the increased demand for specialized protection against risks such as cyber-attacks and liability coverages. With new competition in the market, insurance brokers can help their clients understand the best rates, making E&S more attractive to them. 

E&S Markets Are Evolving and Growing 

Excess and Surplus lines insurance is gaining momentum due to its flexibility and customization features, which allow customers to purchase coverage tailored to their needs. 

Our P&C Brokerage team can help you provide the right package to your clients. Likewise, you can help your clients understand which is better for their needs by highlighting what Excess & Surplus Insurance can do for them. 

The Rise of the E&S Market

Research conducted by Grand View Research Inc., a leading firm specializing in financial markets data analytics, revealed that the global Excess and Surplus insurance market size might grow at an annual compound rate of 5% between 2021 and 2023. Overall, the factors driving growth in the E&S insurance markets will help increase demand for custom risk solutions.


Flexibility is one of the few trends affecting the industry in 2023. Ultimately, the E&S Coverage could adapt to any conditions caused by traumatic events or the ever-changing economy. Brokers will have the opportunity to present unique tailored packages to their clients who live in danger zones. 


There was a significant issue with capacity in 2022, and it will continue this year. Unfortunately, the new players that have entered the E&S Market have yet to make a significant impact. Capacity continues to affect E&S Markets, as well as wholesale. 

New insurance companies have popped up, but not all insurers have impacted the market significantly. However, the increase in natural disasters over the last few years has surpassed regular insurance coverage, opening up the options for E&S. 

The Impact of Nuclear Verdicts

Nuclear verdicts have impacted the industry over the last few years and will continue to play a role in 2023. Ultimately, there are still court cases on the docket since 2020. The likelihood of the issues settling anytime soon is not likely. 

Social inflation still impacts underwriting by limiting the risks that underwriters get to write. Therefore, it impacts the coverage limits within entities with a more significant risk for nuclear verdicts. 

What Are the Best Opportunities in the E&S markets in 2023?

But these trends are not particularly permanent. Often, things can change quickly, especially in the E&S Market. 

With trending changes comes opportunity. Thus, there are new opportunities in the E&S Market in 2023 and many directions to head into. 

Automating processes, leveraging data mining techniques, and advancing tech innovations can create products that offer specialized coverage and provide competitive prices to customers. Brokers must educate their clients on market alternatives and understand all product features. 

Brokers will always provide a need and can be the best asset that an insured has when navigating an insurance plan. Moreover, they are finding more avenues to fill their respective insurance programs.

As technology advances, brokers can adapt and present these specialized products tailored to customers’ needs. The advances could include coverage for emerging risks such as cyber-attacks or autonomous vehicles. Therefore, brokers could use the changes in this market to innovate, stay ahead, and remain competitive in the E&S market.

We invite you to learn more about how Cochrane & Company can assist you in tapping into E&S markets to help you insure your clients and grow your business.

Cochrane & Company

For more than six decades, Cochrane & Company has been proudly at the forefront of the insurance industry. Our experience has enabled us to innovate in powerful ways, reimagining the E&S market, and providing technology solutions that make it easy to do business with us. Licensed in all 50 states, we proudly serve clients across the nation, providing personalized and powerful solutions to help you become an even better partner for your clients. Speak to one of our experienced professionals today by calling (855) 967-0069.


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