surplus News

Texas Windstorm Insurance Group Expects Surplus

The nonprofit, state-supervised property insurance agency for coastal Texas counties is expected to shore up its finances by the end of the year, the group told a state House panel on June 17. Pete Gise, who handles the Texas Windstorm …

Kreidler’s 4th Term in Washington: Healthcare, Climate Change, Excess Surpluses

Washington Insurance Commissioner Mike Kreidler won nearly six in 10 votes in his re-election bid, giving him bragging rights as the U.S.’s longest currently serving insurance commissioner. Kreidler won 57.7 percent of the vote, while insurance broker John Adams, his …

Stress Test Results Confirm Strength of European Insurance Industry

The second stress test of European insurers, conducted by the European Insurance and Occupational Pensions Authority (EIOPA), has confirmed “the robustness of the European insurance market and its ability to withstand severe stress scenarios,” notes the European (re)insurance federation (CEA). …

North Carolina Beach Plan to Retrieve Surplus Returned to Insurers

North Carolina Insurance Commissioner Wayne Goodwin has announced a settlement agreement that calls for the North Carolina Insurance Underwriting Association, known as the Beach Plan, to reverse the more than $16 million it made to member companies in 2009. The …