Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Freedom Specialty, MGIS Underwriting to Offer Medical-Professional Coverage
Oct 4 2010 // Freedom Specialty Insurance Co. recently partnered with MGIS Underwriting Managers, Inc. (MGIS) to offer medical-professional liability insurance, a specialized policy built exclusively for physicians. The Freedom policy...
People
Oct 4 2010 // Salt Lake City-based The Buckner Co. named Mark A. Oligschlaeger executive vice president/chief operations officer. He joins the insurance firm after having spent the past 12 years working for Leucadia National Corp.,...
Clock is Ticking on Surplus Lines Tax Reform
Oct 4 2010 // With Less Than a Year to Go, Can States Agree on Tax Sharing Plan? The insurance industry called the passage of the Wall Street Reform & Consumer Protection Act on July 21, 2010, a “big win” thanks to...
What’s In the NRRA?
Oct 4 2010 // Reporting, Payment, and Allocation of Premium Taxes: Only the home state of insured may require premium tax payment. States may enter into a compact or other procedures to allocate among the states taxes paid to home...
Specialty Products Manufacturing: Multiple Opportunities for Injury
Oct 4 2010 // How Agents Can Help Clients Be Better Prepared and Mitigate Damages In 2007 there were over 10 million consumer-product related injuries treated in hospital emergency departments, according to the National Safety Council....
Surplus Lines Premiums Down in 2009; But Brokers Say Market is Stabilizing
Oct 4 2010 // The surplus lines industry continues to experience a decline in direct premiums written (DPW). For a third consecutive year in 2009, the surplus lines industry’s DPW fell 4.1 percent, an improvement over 2008 where...
Syndicates – The Heart of the Market
Oct 4 2010 // Catlin, and Other Lloyd’s Syndicates As underwriters, syndicates are the heart of the Lloyd’s market. Until the end of the 20th century they were largely funded by wealthy individuals, who pledged their...
Lloyd’s Chairman Warns on Peril of Over-Regulation; Urges Growth
Oct 1 2010 // Lloyd’s Chairman, Lord Peter Levene warned a receptive audience at Lloyd’s City dinner that the current focus on regulation should not get in the way of strategies for future growth. His speech was addressed to...
Five Star Specialty Programs Launches Healthcare Practice
Sep 30 2010 // Five Star Specialty Programs, a division of Crump Insurance Services Inc. and part of Crump Group Inc., announced it is launching a new health care practice based in Sacramento, Calif. The practice, known as Five Star...
Schwarzenegger Signs Surplus Line Bill Into Law
Sep 29 2010 // California Gov. Arnold Schwarzenegger has signed AB 1708 (Villines) into law, requiring the total capital and surplus requirements for nonadmitted insurers in California to be at least $45 million, up from $15 million. The...
Lloyd’s CFO Comments on Lower Profits, Investments, Russia Office
Sep 29 2010 // As Lloyd’s published its first half results, Luke Savage, the chief financial officer, had a busy day on Tuesday. But he spoke briefly with Insurance Journal on some of the issues the report on the first half...
Surplus Lines Premiums Fall, Again, But Brokers Remain Optimistic
Sep 28 2010 // The surplus lines industry continues to experience a decline in direct premiums written (DPW). For a third consecutive year in 2009, the surplus lines industry’s DPW fell 4.1 percent, an improvement over 2008 where...
Lloyd’s Sees Record Claims, Continued Pricing Decline; Considers Russia Office
Sep 28 2010 // The Lloyd’s of London insurance market revealed that record claims from disasters including the Chilean earthquake and U.S. oil spill halved its profits, and said it saw no respite from a steady decline in...
Lloyd’s Reports First Six Months Profit of $992 Million
Sep 28 2010 // Lloyd’s of London reported its interim (6 months to June 30) results today, which could best be described as mixed. Although Lloyd’s posted an overall pretax profit of £628 million [$922 million], this...
Lloyd’s Chaucer to Launch New International Liability Division
Sep 24 2010 // Lloyd’s insurer Chaucer has outlined its plans for the launch of a new International Liability Division by the end of the year, according to a bulletin on the Lloyd’s web site. “The move follows a series...
Lloyd’s Program Aims to Increase Claims Talent
Sep 24 2010 // Lloyd’s has announced that it will establish a dedicated program to recruit and train 50 claims professionals over the next five years, which it said is equivalent to “10 per cent of claims personnel currently...
Talley to Head Lloyd’s America U.S. Central Region
Sep 21 2010 // Lloyd’s announced the promotion of Pat Talley to Regional Director for Lloyd’s America’s Central Region. He will “be responsible for the Illinois and Kentucky offices [the two states in the U.S....
People
Sep 20 2010 // Scott Brock was appointed CEO of Dallas-based Goss Reinsurance Brokers Inc., the reinsurance brokerage division of U.S. Risk Insurance Group Inc. Brock will work with Chris Turner, president of Goss Re, to provide focused,...
Ryan Group Denies Wrongdoing by Former Employee
Sep 20 2010 // North Carolina-based wholesale insurance broker AmWINS has won a court order against a former employee it believes is using confidential client information to target AmWINS business accounts and win them over to his new...
Cooper Joins WSG Specialty Underwriters in Texas as Senior VP
Sep 17 2010 // Wilson Smith Group LLC announced that Gary Cooper has joined the group’s Texas operation, WSG Specialty Underwriters, as senior vice president. Cooper brings an extensive insurance background in retail and wholesale...
