Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
R-T Specialty Buys Southeast Wholesaler McAuley Woods
Oct 8 2010 // R-T Specialty, LLC, the wholesale brokerage unit of Ryan Specialty Group, LLC, has acquired McAuley Woods & Associates. Headquartered in Palm Beach, Florida, McAuley Woods is a wholesale insurance brokerage that also...
Safety Remains a Concern for Nanotechnology Says Lloyd’s
Oct 7 2010 // Nanotechnology is finding wider and broader use in modern technology. It is “transforming product design and innovation among manufacturers of electronics goods, textiles, cosmetics and foodstuffs as well as in other...
CNA Appoints Day VP of Specialty Underwriting – Accountants PL
Oct 7 2010 // Chicago-based CNA has named Jeff Day as vice president of Underwriting for its Specialty Lines Group. In this role, Day has responsibility for the global insurer’s Accountants Professional Liability program. Day has...
Lower Corporate Taxes Could Help Preserve London’s Competitiveness
Oct 5 2010 // The City of London is just emerging from the recession brought on by the financial crisis, but it’s “clear there are numerous challenges ahead if it is to retain its global importance as a center for financial...
Chartis Introduces Commercial Excess Form with CrisisResponse
Oct 4 2010 // Chartis has introduced a new Commercial Excess Follow Form (CEFF) policy, developed by its Environmental Division, which is enhanced with CrisisResponse, providing coverage for the management of crisis events. The new CEFF...
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...
