Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
OneBeacon’s Sale of Runoff Business to Armour Still in Progress
Jun 23 2014 // OneBeacon Insurance Group Ltd. said it is making progress in the sale of its runoff business to Armour Group Holdings Limited and restated its expectation that the transaction will close in the second half of 2014. The...
ANV Opens Cyber/Media MGU for U.S. Small Business with James River
Jun 20 2014 // ANV Holdings BV, a Dutch specialty insurance business, has opened a U.S. managing general underwriter focused on communications and data security risks for “Main Street” U.S. businesses. Leib Dodell, a veteran...
XL’s Excess Casualty Business Adds Damsky in Northern California
Jun 19 2014 // XL Group’s global excess casualty team has added Joanne Damsky as a senior underwriter in San Francisco. Damsky reports to Matt Stitham, vice president of excess casualty’s Western zone. Damsky has 20 years of...
Florida Private Flood Bill Now Law But Market May Take a While to Develop
Jun 17 2014 // Florida Gov. Rick Scott has signed legislation designed to encourage private insurers to offer flood insurance, but the industry is tamping down expectations that it will result in a viable market in the near future. The...
Ironshore Canada Enters Commercial Property Market for Sector Specific Risks
Jun 17 2014 // Bermuda-based Ironshore Canada has announced its entry into the Commercial Property Market with capacity that enhances its existing suite of specialty products available in the Canadian region. “Ironshore Canada has...
Ryan Specialty Group Announces Landmark Healthcare Partnership With Lloyd’s Underwriters
Jun 17 2014 // Chicago, IL – 6/17/14 – Ryan Specialty Group, LLC (RSG) announces the formation of RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with some of the strongest and most...
Ryan Specialty Group Launches Healthcare Partnership with Lloyd’s Underwriters
Jun 16 2014 // Ryan Specialty Group, LLC (RSG) has formed RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with the healthcare and life science underwriters at Lloyd’s of London....
Beware of Dwindling Excess Umbrella Limits
Jun 16 2014 // With verdicts, judgments and defense costs rising steadily in the United States, the limits of insurance on standard business liability insurance policies may not be high enough to provide sufficient financial protection...
Lloyd’s Tallies Insurable Value of World Cup Teams, Predicts Winner
Jun 13 2014 // Lloyd’s has released research with the Centre for Economics and Business Research (Cebr) that ranks each team in the FIFA World Cup based on the collective insurable value of each country’s players. The total...
Fitch Upgrades Lloyd’s Ratings to ‘AA-‘; Outlook Stable
Jun 11 2014 // Fitch Ratings announced that it has upgraded Lloyd’s of London’s Insurer Financial Strength (IFS) rating to ‘AA-‘ from ‘A+’, and has also upgraded the Society of Lloyd’s Long-term...
Declarations
Jun 2 2014 // Sandy Recovery Program Scams “Our Statewide Sandy Fraud Working Group is pursuing aggressive criminal and civil actions against those who allegedly sought illegal profits in the wake of this national...
XL Adds 4 to East Coast Excess Casualty Teams
May 29 2014 // XL Group has enhanced its excess casualty teams in New York and Atlanta to accommodate its continued growth and sharpened focus on target industries – real estate, hospitality, grocers, restaurants and retail. In New...
Liberty Mutual Names Sr. Underwriting Manager for Excess Casualty in Northeast
May 28 2014 // Keith PooporLiberty Mutual Insurance’s Specialty Excess Casualty operation has appointed Keith Poopor as senior underwriting manager for excess casualty in the Northeast. In his new role, Poopor will lead the...
Savage to Leave; Lloyd’s Announces Changes in Finance, Operations
May 23 2014 // Luke Savage, who has been Lloyd’s Director of Finance and Operations for ten years, will be stepping down from Lloyd’s later this summer, to become Chief Financial Officer of Standard Life. In connection with...
Lloyd’s U.S. Chief on Board with Climate Change
May 22 2014 // Despite risking offense to non-believers, Hank Watkins didn’t hesitate when he was asked if climate change was upon us. Watkins, president of Lloyd’s America, talked about an extensive report Lloyd’s of...
Brown & Brown Completes Acquisition of Wright Insurance Group
May 22 2014 // Brown & Brown Inc. said it has completed its acquisition of specialty and flood insurance company The Wright Insurance Group, LLC. In January, Florida-based national insurance broker Brown & Brown said it would...
ProSight Specialty Expands Energy Market Coverage with Three New Programs
May 21 2014 // ProSight Specialty Insurance is expanding its reach in the energy market with the launch of three new insurance programs designed for the business needs and exposures of solar energy contractors, propane and fuel dealers,...
Insurers Balk at High Cost of Specialty Drug
May 21 2014 // The leading U.S. health insurance trade group on Tuesday hit out at the extremely high cost of new specialty medicines, accusing drugmakers of taking advantage of the insurance system by pricing products at unsustainable...
Berkshire Hathaway Specialty Insurance Enters Travel Insurance Business
May 20 2014 // Berkshire Hathaway Travel Protection, part of Berkshire Hathaway Specialty Insurance, has launched the first product in its new travel-insurance line designed for travelers, travel agencies, tour operators and travel...
Lloyd’s Appoints Hu to Council; McGovern, Griffiths to Franchise Board
May 20 2014 // Lloyd’s has announced three appointments with immediate effect. Fred Hu will join the Lloyd’s Council and Joy Griffiths and Sean McGovern will join the Franchise Board. The bulletin described Hu as a...
