Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Maryland to Privatize State-Run Workers’ Comp Insurer IWIF
Jun 4 2012 // The Injured Workers’ Insurance Fund (IWIF), Maryland’s state-run workers’ comp insurance carrier, will become a private, nonprofit company under a new name Chesapeake Employers’ Insurance, effective...
Lobell, Tutt Join Louisiana-Based Specialty Risk Associates
May 30 2012 // Specialty Risk Associates Inc., headquartered in Shreveport, La., has added Rhonda Lobell as a commercial lines underwriter and Dolores Tutt as a personal lines underwriter. Lobell will be working at the Baton Rouge, La.,...
11 States Adopt Plan to Distribute Surplus Lines Premium Taxes
May 25 2012 // States participating in the Non-admitted Insurance Multi-state Agreement, or NIMA, have adopted a premium allocation method for distributing surplus lines premium taxes on casualty insurance. The adopted method aims to...
Maryland’s State-Run WC Insurer IWIF to Become Private Nonprofit Co.
May 23 2012 // The Injured Workers’ Insurance Fund (IWIF), Maryland’s state-run workers’ comp insurance carrier, will become a private, nonprofit company under a new name Chesapeake Employers’ Insurance, effective...
Ratings Affirmed for Atain Specialty Insurance and Subsidiary
May 23 2012 // A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of A (Excellent) of Atain Specialty Insurance Co., Farmington Hills,...
Zurich, SWBC to Offer Excess Flood Insurance
May 22 2012 // Zurich has announced that SWBC, a diversified financial services company, will be a program administer writing excess flood policies for Zurich in all 50 states. The policies will provide coverage above the National Flood...
RSA Reorganizes Global Specialty Businesses into ‘3 Key Divisions’
May 22 2012 // The UK’s RSA announced that it has re-organized its specialty businesses around the world into three key divisions, as it seeks to join up brokers and customers who are seeking global expertise and capacity. As of...
Lloyd’s U.S. CEO Comments on the Importance of ‘Vision 25’
May 14 2012 // Lloyd’s announcement on Friday of the launch of its “Vision 25” program, an ambitious plan to prepare the historic London market for the future, came as no surprise to Hank Watkins, CEO of Lloyd’s...
AAMGA President Chaffin Stresses Need for Perpetuation; Cites Effect of Revised Catastrophe Model on E&S Business
May 7 2012 // Relationships are important to the success of any insurance business, but it’s perpetuation that matters most when it comes to survival. R.C. Chaffin, president and CEO of Coral Gables, Fla.-based SeaCoast...
Protective Specialty Launches Allied Health Medical Professional Liability Product
May 4 2012 // Protective Specialty Insurance Co. will now offer an allied health medical professional liability product. It is designed for both entities and individuals in more than 250 subclasses. In addition to customized insurance...
Earnings Reports: Allied World, Endurance Specialty, RenaissanceRe
May 3 2012 // Selected earnings highlights from Allied World Assurance for the first quarter of 2012 are as follows: Q1 2012 Q1 2011 Gross premiums written ———— $680.292 mn $560.688 mn Net premiums written...
NAS Adds to Its Executive, Management Ranks
May 2 2012 // Encino, Calif.-based NAS Insurance Services has expanded its national specialty insurance business with the addition of Matt Singerman, chief financial officer, and Jeremy Barnett, senior vice president of marketing to the...
Regulation, Reputational Risk Top Concerns of Risk Managers: Lloyd’s
Apr 30 2012 // A heightened focus on insurance regulation as well as exposures related to reputational risk are top concerns for insurance executives today, reports a new survey. Nearly a third of executives responding to a survey...
U.S. E&S Market Premiums Increase in 2011: SNL Financial
Apr 30 2012 // U.S. excess and surplus market is seeing a slight uptick in premiums, a new report reveals. After several years of declines, U.S. E&S insurers saw an increase in the overall amount of direct premiums written in 2011,...
Tower Group Announces Strategic Investment in Lloyd’s Canopius
Apr 26 2012 // Tower Group announced that it has committed to invest $75 million (based on the current exchange rate) in Canopius Group, Ltd., a privately owned Lloyd’s insurance holding company domiciled in Guernsey, Channel...
OneBeacon Forms New Specialty Program Group
Apr 26 2012 // OneBeacon Insurance Group Ltd. has formed a new specialty business, OneBeacon Program Group (OBPG), which will be led by President Dan Beaudette. The group will focus on small to medium commercial business written through...
Lloyd’s Register Withdraws from Iran Due to Sanctions
Apr 26 2012 // Maritime risk management firm Lloyd’s Register has shut its operations in Iran and can no longer vouch for the safety of the OPEC member’s fleet due to Western sanctions, the head of the company told...
Canopius to Buy Lloyd’s Omega Insurance for $265 Million; Tower in Related Deal
Apr 26 2012 // Lloyds of London insurer Canopius said it has agreed to buy rival Lloyd’s insurer Omega after raising its offer to £164 million ($265.6 million) in a recommended cash deal. Canopius said on Wednesday it will pay 67...
N.Y.-Based Specialty Insurer Assurant Turns 120 Years Old
Apr 19 2012 // Assurant, a New York-based provider of specialty insurance and insurance-related products and services, celebrated its 120th anniversary Wednesday by ringing the ceremonial closing bell at the New York Stock Exchange,...
