Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Gov. Crist Signs Florida Surplus Lines Regulation Bill
Jun 12 2009 // Legislation intended to clarify the regulation of the surplus lines insurance industry in Florida has beeen signed into law by Gov. Charlie Crist. The legislation (HB 853) removes an ambiguity caused by two Florida Supreme...
S&P, Best Rate Beazley’s Holding Co.
Jun 10 2009 // Standard & Poor’s Ratings Services announced that it has assigned its ‘BBB+’ long-term counterparty credit rating to Beazley PLC, the Jersey-domiciled and Irish-tax resident, ultimate holding company...
Nautilus Insurance Group Receives Awards from the American Association of Managing General Agents
Jun 9 2009 // Scottsdale, Ariz. – June 9, 2009 – Nautilus Insurance Group, comprised of Nautilus Insurance Company (“Nautilus”) and Great Divide Insurance Company (“Great Divide”), member companies of...
Williams Joins Western Security Surplus Insurance Brokers in Dallas
Jun 9 2009 // Kyle Stevens, president/CEO of Western Security Surplus Insurance Brokers Inc. (WSS), announced that Karen G. Williams has joined the firm as contract underwriter in the Dallas office. She will report to Judy Hall, vice...
Universal Insurance Holdings To Purchase ICAT Specialty Insurance
Jun 8 2009 // Universal Insurance Holdings of North America and ICAT Holdings LLC of Boulder, Colo., have received regulatory approval that completes Universal North America’s purchase of ICAT Specialty Insurance Co. (ISIC). Under...
WKF&C Adds E&S Coastal Wind Coverage in 4 New England States
Jun 4 2009 // Melville, New York-based managing general agent WKF&C Agency Inc. if offering an expanded coastal wind facility for E&S property lines in four New England states. The expansion adds extra capacity for risks...
Argo Renames Lloyd’s Business as ‘Argo International;’ Enoizi New CEO
Jun 3 2009 // The Bermuda-based Argo Group International Holdings announced that its Lloyd’s operation, Heritage Managing Agency Ltd., has been renamed Argo Managing Agency Ltd. and will conduct business under the brand name of...
Lloyd’s CEO Says Insurance May Play ‘Bigger Role’ in Poor Regions
Jun 2 2009 // Lloyd’s CEO Richard Ward, in a speech given to a meeting in Tokyo of the Geneva Association, the organization for the study of insurance economics today, called for insurance to play a bigger role in providing vital...
Mississippi Surplus Lines Insurance Fees Go Into State’s General Fund
Jun 2 2009 // Mississippi Insurance Commissioner Mike Chaney has delivered a $2 million check targeted for the state’s general fund. The money, derived from fees paid by the surplus lines insurance industry, will go to the...
Florida Surplus Lines Insurance Regulation Bill Awaits Gov.’s Signature
Jun 2 2009 // Legislation intended to clarify the regulation of the surplus lines insurance industry in Florida has reached the desk of Gov. Charlie Crist. Crist has until June 16 to sign the bill (HB 853), which the industry hopes and...
People
Jun 1 2009 // Tom Elder has joined All Risks’ National Specialty Programs unit as the lead financial institutions underwriter for the new nationwide REO/ Foreclosure and Lender Placed Property Insurance Program. At All Risks, he...
People
Jun 1 2009 // Neal S. Wolin has been confirmed by the U.S. Senate to serve as the deputy secretary of the U.S. Department of the Treasury. In February, Wolin was named deputy assistant to the President and deputy counsel to the...
Another Go-Round for Surplus Lines Regulation Reform
Jun 1 2009 // Federal lawmakers once again are preparing to tackle the issue of how states can more effectively regulate the surplus lines insurance market. It’s been tried before, but legislation was recently reintroduced in the...
Surplus Lines Regulation Reform Legislation Reintroduced
Jun 1 2009 // Legislation aimed at making access to the surplus lines market more efficient and help standardize state insurance regulation has been introduced again in the U.S. House of Representatives. Reps. Dennis Moore, D-Kan., and...
New York Med Mal Insurer is $43M Short
Jun 1 2009 // Law Bars State from Regulating Insolvent PRI New York’s second-largest medical malpractice insurer is more than $43 million in the hole, according to new regulatory filings, but state regulators are legally forbidden...
People
Jun 1 2009 // Neal S. Wolin has been confirmed by the U.S. Senate to serve as the deputy secretary of the U.S. Department of the Treasury. In February, Wolin was named deputy assistant to the President and deputy counsel to the...
Revisiting Surplus Lines Regulation Reform
Jun 1 2009 // Federal lawmakers once again are preparing to tackle the issue of how states can more effectively regulate the surplus lines insurance market. It’s been tried before, but legislation was recently reintroduced in the...
Surplus Lines Brokers Report No Change in Capacity; Increase in Submissions
May 28 2009 // Catastrophic events, the economy and changes in reinsurance capacity have the greatest impact on the availability and pricing of specialty lines coverage in 2009, according to professionals in the surplus lines...
The Hanover Bets Big on Specialty Lines
May 27 2009 // The Hanover’s CEO Fred Eppinger says the specialty lines business will be a key growth engine for the Worcester, Massachusetts-based super-regional insurer in the next several years. Over the last year, revenue from...
Surplus Lines Regulation Reform Legislation Reintroduced in Congress
May 22 2009 // Legislation aimed at making access to the surplus lines market more efficient and help standardize state insurance regulation has been introduced again in the U.S. House of Representatives. Reps. Dennis Moore, D-Kan., and...
