Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Arch Europe to Establish New Lloyd’s Syndicate
Mar 17 2009 // Arch Insurance Company (Europe) Limited, a subsidiary of Bermuda-based Arch Capital Group Ltd., announced that it has received approval from Lloyd’s to establish a new syndicate, which is slated to commence...
Insurance Specialty Group LLC Acquires Wastepac
Mar 12 2009 // Insurance Specialty Group LLC has acquired Wastepac, a provider of insurance coverage to the waste hauling and sanitation industry. “Acquiring Wastepac’s expertise in this highly-specialized niche market gives...
Florida Surplus Lines Insurance Industry Seeks Regulatory Certainty
Mar 11 2009 // Surplus lines insurance industry leaders in Florida hope legislation working its way through the state Legislature will clarify how the industry will be regulated. The industry has had concerns about its future since court...
Pacific Specialty Expands Texas Residential Property Programs
Mar 10 2009 // Pacific Specialty Property and Casualty Company, the Texas affiliate of California-based Pacific Specialty Insurance Company (PSIC) announced a new suite of preferred tier residential property insurance products in...
Lloyd’s Comments on Observance of International Women’s Day
Mar 9 2009 // A bulletin on the Lloyd’s of London web site (www.lloyds.com) notes that yesterday, March 8 was International Women’s Day, which has been “observed since the early 1900s. It is an opportunity to share and...
Lloyd’s Insures Coffee Taster’s Tongue for $13.78 Million
Mar 9 2009 // Despite all the technical changes, Lloyd’s of London continues to adhere to its century’s old tradition of accepting the most unusual risks. It has just agreed to cover the tongue of Gennaro Pelliccia, Costa...
Continental Marmorstein & Malone’s Rozzell Passes Away
Mar 6 2009 // Mary Ellen Rozzell, the past president of the National Association of Surplus Lines Offices (NAPSLO) and president and owner of Continental Marmorstein & Malone in New Jersey, passed away on March 3. Rozzell suffered...
Final End of Lloyd’s ‘Names’ Cases May Be in Sight
Mar 3 2009 // The end of more than 20 years of litigation may be in sight, following a recent UK Appeals Court ruling in favor of Lloyd’s against claims of fraud from a number of individual ‘Names.’ Lloyd’s press...
Now Playing in Florida: A Scary Surplus Lines Scenario
Feb 22 2009 // Court Rulings Strike Fear That Surplus Lines Could Lose Freedom Have you ever seen anything like this in Florida? Never. I haven’t seen anything like this anywhere in the country. If it were a horror flick it might...
House Sponsors Sign Onto Surplus Lines Bill
Feb 22 2009 // Two members of the U.S. House of Representatives’ Committee on Financial Services said they would introduce legislation to create national standards for how states regulate the surplus lines market and reinsurance as...
Top 25 Surplus Lines Coverage in Florida – 2008
Feb 22 2009 // Top 25 Surplus Lines Coverage in Florida – 2008 Ranked By Policy Count Coverage Premium # Policies Inland Marine (Personal) $25,232,485 197,325 Commercial General Liability $571,644,547 138,315 Commercial...
What Retail Agents Value in Surplus Agents
Feb 22 2009 // Insurance Journal asked a select group of 130 Florida retail agents what they look for when selecting surplus lines agencies to do business with. They placed access to markets as the most valued consideration, followed by...
FSLA Leader Sees Soft Market Opportunities in State Farm Exit, Med Mal, EPLI
Feb 22 2009 // The Florida surplus lines industry may be challenged right now by regulatory uncertainty stemming from the Essex and CNL Hotels rulings but it is not letting that blind it to opportunities. One opportunity is the pending...
Declarations
Feb 22 2009 // Surplus Lines Standards “We believe that the bill would make the surplus lines marketplace more efficient by facilitating the payment of surplus lines premium taxes and eliminating unnecessary duplicative compliance...
Valiant Insurance Forms Excess & Surplus Lines Company
Feb 18 2009 // New York-based specialty insurer Valiant Insurance Group, Inc. has established a new insurance vehicle, Valiant Specialty Insurance Co., a Delaware-licensed property/ casualty insurance company to serve as the excess and...
Edack Elected Chairman of the Surplus Line Association of California
Feb 18 2009 // Members of the Surplus Line Association of California (SLA) elected John Edack as their chairman during the SLA 2009 Annual Meeting held January 29 in Beverly Hills, Calif. Edack is the executive vice president of Arch...
Beazley Acquiring The Hartford’s Surplus Lines Insurer, First State
Feb 17 2009 // London-based insurer and reinsurer Beazley Group is acquiring Boston-based First State Management Group, an underwriting manager specializing in excess and surplus lines commercial property insurance for $35.4 million in...
Merchants Insurance Group’s New E&S Subsidiary OK’d in 10 States
Feb 13 2009 // Buffalo, N.Y.-based Merchants National Insurance Company, a wholly-owned excess and surplus lines subsidiary of Merchants Insurance Group, began accepting new business on Feb. 1, 2009. The company reported as of that date...
Max Capital Posts $94 Million Q4 Loss; $175 Million FY Loss
Feb 12 2009 // The Bermuda-based Max Capital Group reported a net loss for the three months ended December 31, 2008, of $94.1 million, or $1.67 per diluted share, compared to net income of $62.4 million, or $1.00 per diluted share, for...
Surplus Lines Reform Legislation Reintroduced in Congress
Feb 11 2009 // Two members of the U.S. House of Representatives’ Committee on Financial Services have announced plans they will introduce legislation that will create national standards for how states regulate the surplus lines...
