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The non-admitted insurance market is experiencing a property premium boom, and natural catastrophe exposed states are leading the charge but are by no means the only contributors in a hard market.

“We continue to see the commercial property market’s premiums exhibit a noteworthy surge in response to current market conditions,” said Mark Shealy, executive director of the Florida Surplus Lines Service Office. Commercial property premiums increased 41.7% to about $7.2 billion to now account for 46.5% of the market.