Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
New York to Weigh Expanding Excess Lines Insurance List
Jul 8 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing on August 20 to explore the possibility of increasing insurance capacity in New York by easing access to unauthorized...
Brokers in London Market Survey ‘More Positive’ about Lloyd’s
Jul 8 2010 // “Brokers are now significantly more positive about conducting business at Lloyd’s than two years ago,” according to a survey of the Lloyd’s market from part of the Gracechurch London Market Study...
Residential Contractor Umbrellas: Tough Sell in Tough Times
Jul 8 2010 // Residential construction is and has been an extremely important class of business for surplus lines insurers and agents. In recent years, however, demand for residential work in this country has dropped dramatically....
Lloyd’s Foresees Further Growth in China from Grant of Direct License
Jul 7 2010 // Lloyd’s managing agents are predicting their businesses will get a big boost from the market being granted a licence to write direct insurance in China [See IJ web site –...
Lloyd’s Marine Underwriters Examine How to Comply with Iran Sanctions
Jul 6 2010 // Underwriters from London’s marine insurance market are looking at how to comply with fresh sanctions being imposed on Iran, a senior Lloyd’s Market Association (LMA) official said on Friday. Iran, the...
Best Affirms Lloyd’s ‘A’ Ratings
Jul 6 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China)...
Connecticut Warns Agents over Surplus Lines Placements
Jul 5 2010 // The Connecticut Insurance Department is warning producers against placing coastal homeowners in the surplus lines market if an admitted insurer has offered to renew their policies. Doing so violates Connecticut law, and in...
Hit a Home Run with Wholesalers
Jul 5 2010 // How to Make Wholesale-Agent Partnerships Work It’s no secret. Insurance is a relationship business. And the agent-wholesale broker relationship is no exception. The continued soft market hasn’t stifled...
Tower Completes Acquisition of OneBeacon’s Personal Lines Business
Jul 1 2010 // Tower Group Inc. has completed its acquisition of the personal lines business of OneBeacon Insurance Group for $167 million. The completed transaction includes the acquisition by Towers of Massachusetts Homeland Insurance...
Best Affirms Ratings of Markel’s Lloyd’s Syndicate 3000
Jul 1 2010 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 3000, both with stable outlooks. The ratings reflect...
Minnesota Changes Surplus Lines Stamping Fee
Jun 30 2010 // The Minnesota Department of Commerce announced that a stamping fee of 0.0008 on all premium bearing surplus line placements made on or after Jan. 1, 2011 will need to be paid by the insured to the surplus lines...
Surplus Line Association of Wash. Administers Flood Insurance Program
Jun 29 2010 // Washington State Insurance Commissioner Mike Kreidler and more than two dozen insurance companies have launched a new program to help Green River Valley businesses struggling to find flood coverage. The “Washington...
Zurich Increases Capacity, Expands Appetite for Specialty E&O Business
Jun 29 2010 // Zurich North America Commercial has raised the available capacity for its specialty errors & omissions business from $10 million to $25 million and removed revenue restrictions for primary business. In addition, Zurich...
Monarch E&S Wins Marketing Award
Jun 25 2010 // The American Association of Managing General Agents (AAMGA) has awarded Monarch E&S Insurance Services with the 2010 Advertising, Marketing and Community Service Awards. Monarch E&S Insurance Services was awarded...
Lloyd’s Launches ‘Science of Risk’ Prize Competition
Jun 24 2010 // Lloyd’s has announced its first ever Science of Risk prize. The initiative, aimed at “risk-related research from PhD students or Post-Doctoral research staff,” is focused on studies in the following...
Avoca Insurance Holdings Launches Specialty Programs Subsidiary
Jun 24 2010 // Avoca Insurance Holdings has established Manchester Specialty Programs Inc.(MSP) as a national programs platform based in New Hampshire. The company will focus on providing a comprehensive range of coverage to specialty...
Chubb’s New Lloyd’s Syndicate Inks First New Business in Expansion Plan
Jun 21 2010 // Chubb Syndicate 1882 at Lloyd’s has lost no time in concluding its first piece of business, a marine hull risk. The syndicate was formally approved at the beginning of June (See IJ web site –...
People
Jun 21 2010 // WFL, an insurance and risk services agency headquartered in St. Louis, Mo., has added three new executives – Terry Reams, Mark Latini and Beth Grellner – to its top management team. As chief operating officer,...
People
Jun 21 2010 // David H. Long has been named president of Liberty Mutual Group. Long, who has been with Liberty Mutual for 25 years, is currently executive vice president, Liberty Mutual Group, and president of Liberty International. Long...
Florida Market Still Frustrates Surplus Brokers
Jun 21 2010 // It has been quiet on the oceanfront in Florida in terms of hurricanes and tropical storms the past few years. However, the low catastrophe frequency has contributed to an extremely soft and competitive insurance market for...
