Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Coventry Risk Specialty Launches Pay-As-You Build Construction Program
Aug 23 2013 // Coventry Risk Specialty, an MGA focused on the construction industry, has launched a new Builders Reporting Policy (BRP) product for the construction industry. Coventry is the countrywide exclusive underwriter and will...
MSW Restructures as Specialty Insurance Intermediary
Aug 22 2013 // MarketScout Corp., an insurance distribution and underwriting company headquartered in Dallas, announced it has acquired 100 percent of the stock and assets of MSW. MSW will convert from a generalist brokerage to a...
International Excess Program Managers Adds Schmid as VP in Ohio
Aug 21 2013 // International Excess Program Managers, based in Cleveland, Ohio, has added George C. Schmid to its executive team. Schmid, an insurance industry veteran, will be taking on the role of vice president of program...
A Roundup of Maryland’s New Insurance Laws From 2013 Legislative Session
Aug 21 2013 // The Maryland Insurance Administration issued a bulletin this week summarizing new insurance legislation from the Maryland General Assembly’s 2013 session that have been signed into law by Gov. Martin O’Malley....
Suncorp Group Net Income Falls 32% on Banking Unit Loss
Aug 21 2013 // Suncorp Group Ltd., an Australian lender and insurer, posted a 32 percent decline in full-year profit in line with its guidance last month. Net income for the year to June 30 was A$491 million (US$443 million) compared...
Ironshore Specialty Launches Claims-Made Policy Form for Product Liability Risks
Aug 20 2013 // Ironshore Inc.’s Specialty Casualty unit is launching a new claims-made policy form to complement its suite of products and services available to the commercial general liability market for prospective insureds...
Berkshire Hathaway Specialty Insurance Hires 2 Execs From Zurich, The Hartford
Aug 16 2013 // Berkshire Hathaway Specialty Insurance — the recently launched commercial P/C insurance unit of Berkshire Hathaway — announced on Thursday the appointments of Leo Carroll as senior vice president, healthcare...
Surplus Lines’ McKay Named to IICF Western Board of Directors
Aug 14 2013 // Surplus Line Association of California Executive Director Benjamin J. McKay was named to the Insurance Industry Charitable Foundation’s Western division board of directors. The IICF board is comprised of industry...
Cat Bonds, Sidecars Keeping Reinsurance Rates Low Says Guy Carpenter
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
Commentary: Notifying Excess Insurers for Additional Insureds
Aug 9 2013 // An interesting case was recently decided by the Georgia Court of Appeals. In Garner and Glover Co. v. Barrett, 738 S.E.2d 721 (Ga. App. 2013), the issue was the duty of an insurance producer to notify an excess insurer...
No Ratings Change for Syndicate 2010 from Lancashire Acquisition Says Best
Aug 9 2013 // A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2010,...
Mitsui Sumitomo at Lloyd’s Hires 2 Professional Indemnity, D&O Specialists
Aug 7 2013 // UK non-life insurer Mitsui Sumitomo at Lloyd’s has hired two experienced underwriters as its Syndicate 3210 seeks to diversify its products and distribution to capitalize on significant international...
Lloyd’s Comments on Record Cannes Jewelry Heist
Aug 6 2013 // An article on the Lloyd’s of London website notes that the value of diamonds stolen in an armed robbery in Cannes on July 28 “has been estimated at nearly £90 million [€100 million, $133 million], making it...
Relationships, Expertise Drive Successful Partnerships in E&S Marketplace
Aug 5 2013 // During the past 20 to 30 years typical business dealings between wholesale insurance brokers and retail agents have evolved from being purely transactional experiences to those that are highly dependent upon relationships...
Survey: Healthcare Reform Driving Demand for Provider Excess Insurance
Jul 30 2013 // Evolving reimbursement models for healthcare providers are fueling a surge in demand for provider excess insurance with industry experts forecasting a jump in premiums of 15-30 percent in 2013, according to a ReSource...
RenaissanceRe Forms Specialty Reinsurance Agency for U.S. Market
Jul 26 2013 // RenaissanceRe Holdings Ltd. has formed RenaissanceRe Underwriting Managers U.S. LLC, a specialty reinsurance agency based in Connecticut, which will support the growth of new products and services in the United States...
Best Affirms Catlin Group and Subs Ratings; Outlook Stable
Jul 26 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Catlin Insurance Company Limited (CICL),...
Cooper Gay Help Launch New Lloyd’s Coverholder Business in The Bahamas
Jul 23 2013 // Cooper Gay & Co Ltd, part of the Cooper Gay Swett and Crawford (CGSC) Group, has participated in the establishment of the first Lloyd’s of London coverholder plaque in the Bahamas, as the broker joined an event...
ACE Appoints Talbott President of North America Property & Specialty Lines
Jul 22 2013 // The ACE Group promoted Derek Talbott to division president, North America Property & Specialty Lines. Talbott succeeds Paul McNamee, who has been named deputy president of ACE’s Asia Pacific region. With more...
Best Revises Lloyd’s, China Sub, Society, Syndicates Ratings to Positive
Jul 22 2013 // A.M. Best Europe – Rating Services Limited has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of...
