Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
Lloyd’s Community Program Celebrates 20th Year
Feb 9 2009 // Lloyd’s might be better known for its historic insurance market and its iconic modern building, but it also participates in a number of charitable activities in and around London. This year Lloyd’s is...
Lloyd’s Makes Appointments to Council and Franchise Board
Feb 6 2009 // Lloyd’s has announced the following appointments to its Council and Franchise Board: — Lord Levene was re-elected as Chairman of Lloyd’s; — Andreas Prindl was elected as a Deputy Chairman, and Ewen...
Surplus Lines Association Launches Executive Leadership School
Feb 5 2009 // The National Association of Professional Surplus Lines Offices Ltd. (NAPSLO) is launching the NAPSLO Executive Leadership School, scheduled for Feb. 8-11, 2009, in Charlottesville, Va. The new school offers senior-level...
Ault Joins Specialty Insurance Broker S.H. Smith in Ohio Office
Feb 3 2009 // Lori Ault has joined S. H. Smith & Co., a national specialty insurance broker, as vice president of Sales. She will be part of the Midwestern sales team located out of S. H. Smith’s office in Ohio. Ault’s...
American E&S Insurance Offers Professional Liability Program
Feb 3 2009 // San Francisco-based American E&S Insurance Brokers has introduced AESPro, a nationwide professional liability program for architects and engineers, technology media, and miscellaneous professional liability risks....
Argo Group Forms Casualty & Professional Risks Division
Feb 2 2009 // The Bermuda-based Argo Group International announced that it has established a Casualty and Professional Risks division within Argo Re, the Company’s reinsurance division. “The newly formed division will write...
ACE Extends Environmental Liability Coverages to Lloyd’s
Jan 30 2009 // ACE announced that it is extending its Environmental Risk capabilities by writing the company’s portfolio of Environmental Liability products at Lloyd’s. “ACE’s suite of environmental products is...
Best Affirms Nationwide Group ‘A+’ Ratings, Changes Outlook to Negative
Jan 29 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Nationwide Group and its...
Willis Re Appoints 17 Brokers to Drive Specialty Lines Growth in US, UK
Jan 29 2009 // Willis Re, the reinsurance arm of global broker Willis Group Holdings, announced the appointment of 17 professionals “to extend the global growth of the unit’s specialty lines business.” Willis said the...
American E&S Offers Vacant Property Insurance Program
Jan 27 2009 // San Francisco-based American E&S Insurance Brokers is offering property and general liability coverage for vacant commercial and residential buildings. Available nationwide (except Kentucky), the program is available...
Max Cap CEO Letter to Investors Recaps 2008, Gives 2009 Outlook
Jan 26 2009 // W. Marston (Marty) Becker, Chairman and CEO of the Bermuda-based Max Capital Group has issued a letter addressed to the Company’s shareholders, employees and other stakeholders updating them on Max Capital’s...
Texas Security General Acquires Business of Emerald Surplus
Jan 26 2009 // Effective Jan. 1, 2009, San Antonio-based Texas Security General Insurance Agency Inc. (TSGA) officially acquired the stock of Emerald Surplus Inc. and is transitioning all business to TSGA, the company announced. All...
Former AIG CEO Greenberg, Ironshore in Joint Excess Casualty Venture
Jan 26 2009 // Maurice “Hank” Greenberg, the man who ran American International Group for nearly 40 years and who now runs C.V. Starr & Co., is being reunited with some executives who used to work under him when he ran...
People
Jan 25 2009 // The Insurance Marketing and Communications Association named Richard Look president. He is a marketing communications veteran with agency and insurance company experience, and currently serves as vice president of...
Wholesaler Innovation Helps Close the Gaps
Jan 25 2009 // E&S Exists to Provide Coverage for Unique and Emerging Risks Before the 1980s, employers bore all the risks associated with employment litigation. As this litigation and the financial costs associated with employee...
London’s Reach Bolsters U.S. Specialty Lines
Jan 25 2009 // Insurers Catlin, Beazley, Amlin, Hiscox and Newcomer Torus Find Their Niche in U.S. Market Find a need, then fill it,” is a hoary business principle, but making it work is often harder than it looks. However, a...
Lloyd’s Web Site Summarizes Current Opinions on Climate Change
Jan 23 2009 // “The string of natural catastrophes that wreaked havoc in 2008, costing the global economy $225 billion and leaving insurers with their second costliest year in history, graphically highlights the increasing risks to...
