Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
The Hartford to Return $48 Million in Florida Workers’ Comp Profits
Aug 12 2009 // Florida officials said that Hartford Financial Services Group will issue refunds or credits totaling $48.2 million to Florida businesses for excess profits the insurer earned on policies written from 2004 through 2006. The...
Delos and Avoca Launch Underwriting Partnership
Aug 10 2009 // Delos Insurance Group and Avoca Insurance Holdings have launched a joint venture focused on underwriting excess and specialty lines. The newly formed, Boston-based underwriting management company will be known as Naxos...
2nd ‘Stanford’ Suit Targets Willis; Terrorist Bombs Kill 9 in Indonesia; Insurance Fraud on the Rise in UK; Lloyd’s ‘Fli
Aug 3 2009 // Willis has been named in a second lawsuit stemming from its relation with indicted financier Allen Stanford. A Venezuelan investor, Reinaldo Ranni, filed a class action in U.S. federal court in Miami on July 17, accusing...
New Hampshire Judge Rejects State’s Claim on Malpractice Fund
Jul 31 2009 // A New Hampshire judge has rejected the state’s claim on a $110 million surplus in a fund that underwrites malpractice insurance. The state counted on $65 million of the money to help balance the budget in the fiscal...
Lloyd’s Report Warns of Corporate Fears of ‘External Risks’
Jul 30 2009 // According to a new report from Lloyd’s of London “business leaders feel comfortable managing internal risks, such as reputation and corporate liability, but are less confident about external risks, such as...
Texas Enacts Windstorm Insurance Reforms; Will They Be Enough?
Jul 30 2009 // During the recently completed 81st Legislative Session, the Texas legislature adopted the most significant reforms to the Texas Windstorm Insurance Association (TWIA) since 1997 with the passage of House Bill 4409 (HB...
Associations Partner to Share Educational Programs, Knowledge
Jul 29 2009 // The National Association of Professional Surplus Lines Offices (NAPSLO) and the Professional Liability Underwriting Society (PLUS) have collaborated to offer educational opportunities to members of both associations. Under...
Lloyd’s Opens Office in Dublin
Jul 24 2009 // Lloyd’s announced the opening of a new office in Dublin, Ireland. Lloyd’s Chairman Lord Levene, who presided at the ceremony to open the new facility, indicated that its establishment illustrates the...
Max Specialty Admitted in Puerto Rico
Jul 23 2009 // The Bermuda-based Max Capital Group Ltd. announced that Max Specialty Insurance Company, a Delaware licensed insurer, is now approved to write business on a non-admitted basis in 49 other states, the US Virgin Islands and...
National Specialty Underwriters Named a ‘Best Company to Work For’ in Washington
Jul 22 2009 // Bellevue, Wash.-based National Specialty Underwriters Inc. (NSU) was named one of Washington’s “2009 Best Companies to Work For” by Seattle Business Magazine. The publication chose 100 finalists in its...
Wholesalers as Partners When Navigating Market Changes
Jul 20 2009 // We are all painfully aware of the impact of the deep recession our country has been mired in for the past year, and it appears that recovery will take some time. The tightening of credit and decline in consumer confidence...
People
Jul 20 2009 // Wholesaler Colemont Insurance Brokers reports that Bob Black has been promoted to vice president in the company’s Atlanta office. Black joined Colemont in 2004 as an associate broker responsible for marketing all...
Florida’s Citizens Rate Hikes Fall Short of Industry Hopes
Jul 20 2009 // After three years of no increases, Florida’s Citizens Property Insurance Corp. is about to hike premiums up to 10 percent for many of its policyholders, although not for as many as some insurance insiders and...
People
Jul 20 2009 // LoriAnn Lowery resigned her position as president of Lloyd’s North America after a little more than a year on the job. Lowery took over as Lloyd’s North America president in April 2008, replacing long-time...
People
Jul 20 2009 // LoriAnn Lowery resigned from her position as president of Lloyd’s North America, after a little more than a year on the job. Sue Langley, Lloyd’s director of market operations and North America, said Lowery,...
Nashville Songwriters, Frost Specialty Offer Copyright Infringement Insurance
Jul 16 2009 // The Nashville Songwriters Association International (NSAI) and Frost Specialty have created a group Copyright Infringement Insurance policy for songwriters, artist-songwriters, composers and music publishers. NSAI...
Best Affirms Omega Specialty, Lloyd’s Syndicate 958 Ratings
Jul 15 2009 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Bermuda-based Omega Specialty Insurance Company Limited (OSIL), both with stable...
Tread Carefully with Biosynth Technology, Warns Lloyd’s Report
Jul 14 2009 // A new report from Lloyd’s warns that, although “synthetic biology has been hailed as a potential solution to looming global threats,” it requires careful handling. “Governments and interest groups...
Best Affirms Lloyd’s ‘A’ Ratings
Jul 14 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China)...
Universal Insurance Holdings To Purchase ICAT Specialty Insurance
Jul 10 2009 // Hawai’i Insurance Commissioner J. P. Schmidt has approved Universal Insurance Holdings of North America’s (Universal North America) purchase of ICAT Specialty Insurance Co.(ISIC). Universal North America writes...
