Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Former Florida Surplus Lines Association Leader Indicted
Jan 23 2013 // A former executive director and past president of the Florida Surplus Lines Association (FSLA) has been indicted for allegedly embezzling an estimated $130,000 in association funds. Roger Gobler has been charged with 11...
Lloyd’s Notes More Use of Specialist M&A Insurance
Jan 18 2013 // Given the reduced amount of merger and acquisition (M&A) activity as a result of the financial crisis, it’s not surprising that the deals, which do go through, engender greater risks. An article from...
Allied World Bermuda Launches Excess Casualty Coverage Package
Jan 16 2013 // Allied World Bermuda has launched Constellation, a suite of five excess casualty coverage enhancements combined into one package that complements its current portfolio of excess casualty products. These enhancements will...
2013 Insurance Industry Meetings & Conventions Directory
Jan 14 2013 // JANUARY P/C Insurance Joint Industry Forum Jan 15 Waldorf Astoria Hotel, New York, NY Insurance Information Institute www.iii.org 2013 Big ‘I’ Winter Meeting Jan 16-20 The Westin Mission Hills Resort & Spa,...
Texas Surplus Lines Premium Exceeded $4 Billion in 2012
Jan 14 2013 // Premium on policies reported to the Surplus Lines Stamping Office of Texas in 2012 totaled more than $4 billion, a record volume, SLSOT reported. The amount is an increase of $767 million over 2011, a rise of nearly 24...
Managing Underwriter Bill Creates Unwelcome Surprise for Some Texas Agents
Jan 14 2013 // A bill passed during the 2011 session of the Texas Legislature is creating havoc for some independent insurance agents in the state. House Bill 3410 creates a definition of a managing underwriter, and addresses the filing...
Business Moves – West
Jan 14 2013 // EPIC, Homeplace Edgewood Partners Insurance Center entered into an agreement to acquire Ontario, Calif.-based Homeplace Insurance Brokers Inc. The Ontario team will report to Dan Ryan, EPIC’s managing principal in...
Best Affirms Amlin AG, Amlin plc, Lloyd’s Syndicate 2001 Ratings; Outlook Stable
Jan 11 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Lloyd’s Syndicate 2001, which is...
Surplus Lines Regulatory Picture for 2013
Jan 10 2013 // State implementation of the Nonadmitted and Reinsurance Reform Act (NRRA), effective July 21, 2011, proceeded relatively smoothly during 2012, albeit with a few hiccups as industry and regulators navigated the transition...
Atlantic Specialty Lines Announces New Office in South Florida
Jan 9 2013 // Miramar, FL, 01/08/13 – Atlantic Specialty Lines announces the opening of their newest office located in South Florida. The office in Miramar will be led by Nancy Riveron and Marianne Correa. ASL is looking to better...
HIIG Reorganizes Domestic Underwriting Operations
Jan 8 2013 // Houston International Insurance Group (HIIG) has reorganized ts domestic underwriting operations, which going forward will be re-branded under the symbol HIIG. The following divisions have been created: HIIG Construction...
Lloyd’s Syndicate ProSight Launches Innovative Independent Film Coverage
Jan 4 2013 // Lloyd’s Syndicate ProSight 1110 is offering independent film makers’ insurance to cover mishaps during filming, as well as failure to complete a film on time and on budget. It is the “first insurer to...
Zurich, Swiss Re in $270 Million Excess of Loss Deal for No. Am. Quake Coverage
Jan 4 2013 // Zurich Insurance Group and Swiss Re have announced that Zurich has obtained, through its subsidiaries Zurich American Insurance Company and Zurich Insurance Company Ltd, a 3-year $270 million catastrophe excess of loss...
Texas Surplus Lines Premium Exceeded $4 Billion in 2012
Jan 3 2013 // Premium on policies reported to the Surplus Lines Stamping Office of Texas in 2012 totaled more than $4 billion, a record volume SLSOT reported. This represented an increase of $767 million over 2011, a rise of nearly 24...
Lloyd’s: Increasing Civil Unrest Driving Political Violence Coverage Demand
Dec 31 2012 // A report from Lloyd’s of London concludes that the increasing demand for political risk insurance “has been rising as civil unrest and political violence continue to threaten businesses around the...
R-T to Acquire Workers’ Comp Wholesaler IFIS in California
Dec 28 2012 // R-T Specialty LLC entered into a definitive agreement to acquire West Coast workers’ compensation specialist International Facilities Insurance Services. Chicago, Ill.-based R-T is the brokerage arm of Ryan Specialty...
P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as...
Berger Named President of Berkley Specialty Underwriting Managers
Dec 20 2012 // Kenneth J. Berger has been named president of Berkley Specialty Underwriting Managers LLC. The appointment is effective immediately. Berger succeeds Steven S. Zeitman, who has been appointed chairman and will remain chief...
Markel Acquiring Alterra for $3.1B to Diversify, Expand to Reinsurance
Dec 19 2012 // Specialty insurer Markel Corp. has agreed to acquire Alterra Capital Holdings Ltd. for $3.1 billion in cash and stock to increase business diversification and expand into reinsurance. The two companies announced Wednesday...
Praetorian Offers to Lower Florida Forced-Placement Rates by 18.8%
Dec 18 2012 // A forced placement mortgage property insurer providing coverage in Florida has offered to lower its rates by an average of 18.8 percent, despite the fact that state regulators said the rate decrease should be double that...
