Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Donates $110,000 to International Alert Peace Fund
Aug 31 2007 // Lloyd’s Charities Trust announced that it plans to donate £50,000 ($110,000) to “a unique fund set up by International Alert to aid companies operating in conflict areas around the world.” The...
Liberty Mutual Realigns Agency Companies to Welcome Ohio Casualty
Aug 27 2007 // Boston-based Liberty Mutual Group finalized its acquisition of Ohio Casualty Corp. on Friday, Aug. 24, 2007 and immediately announced a realignment of its $5.9 billion net premium regional agency company organization to...
Lloyd’s to Unveil New Marine Policy Contract Wordings
Aug 22 2007 // Lloyd’s announced that “experts from across the Lloyd’s and London markets are set to unveil a suite of new contract wordings for the marine market in the coming weeks and months.” Spurred by the...
Agents have responsibility to prepare disaster back-up plan
Aug 21 2007 // Dallas, Texas – August is the peak month for hurricane season – which ends November 30 – and forecasters this month predicted at least three tropical storms are likely to strengthen into...
More than half of all RV owners may not have the right coverage
Aug 20 2007 // If your client bought a tractor-trailer or an airplane, you probably wouldn’t put either on their car insurance policy, since both are specialty vehicles and require specialized coverages and claims handling,...
More than half of all RV owners may not have the right coverage
Aug 20 2007 // If your client bought a tractor-trailer or an airplane, you probably wouldn’t put either on their car insurance policy, since both are specialty vehicles and require specialized coverages and claims handling,...
GAINSCO Sells E&S Writer General Agents Insurance Co. to Montpelier Re
Aug 14 2007 // Dallas-based GAINSCO, Inc. and its insurance subsidiary MGA Insurance Co. Inc. have agreed to sell their affiliate General Agents Insurance Co. of America, Inc. to Montpelier Re U.S. Holdings Ltd. for $4.75 million. The...
Calif. Surplus Lines Premiums Down 11%
Aug 9 2007 // The Surplus Line Association of California is reporting that premiums in the Golden State are trending down. According to the group, “premiums processed in the first three months of 2007 decreased by 11.75 percent....
Start-Up Specialty Insurer in Conn. Completes $279 Million in Funding
Aug 8 2007 // SPARTA Insurance Holdings, Inc. reports that it has closed its contractual arrangements for funding in the amount of $279.1 million of private equity capital from a consortium of investors led by Corsair Capital, and...
Mass. Court Rules Excess Insurer Not Bound by Primary Insurer Settlement
Aug 7 2007 // An insurer of a so-called “follow form” excess policy is not bound by the decision of a primary insurer to settle a claim, the Massachusetts Supreme Judicial Court has ruled. The state’s highest court...
Lloyd’s America’s Baker: Time for action on climate change is now
Aug 6 2007 // For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s Amer-ica Inc., staying on top of those trends in the United...
Agents Errors & Omissions
Aug 6 2007 // If ever there was a time for insurance agents to get out and go looking for a better errors and omissions policy, this is the season. Agents who do will come across several admitted carriers that are welcoming new business...
Agents in E&O Buyer’s Seat
Aug 6 2007 // If ever there was a time for insurance agents to get out and go looking for a better errors and omissions policy, this is the season. Agents who do will come across several admitted carriers that are welcoming new business...
Specialty Lines, Investment Results Highlight OneBeacon 2d Quarter
Aug 2 2007 // OneBeacon Insurance Group, Ltd. reported adjusted book value per share of $18.21, an increase of 8.3% through June 30, 2007 and 3.7% for the second quarter, including dividends. For the 12 months ended June 30, 2007,...
NYMAGIC Affiliate to Write Smaller Surplus Lines Risks in New York
Jul 26 2007 // Southwest Marine and General Insurance Co., an affiliate of NYMAGIC, Inc., said it has been approved by the Excess Lines Association of New York (ELANY) to write surplus lines business in the state of New York. Another...
The Nonadmitted and Reinsurance Reform Act
Jul 23 2007 // The right policy at the right time … After decades of frustration and brutal disappointment, the vexing and seemingly intractable tax payment and regulatory compliance problems surplus lines brokers face on...
Reeling in the new recruits
Jul 23 2007 // The surplus lines market is not unlike any other segment of the industry. Recruiting and hiring talented young professionals is a top priority. But attracting young college graduates to a small, yet important segment of...
Congress gets serious about surplus lines insurance reform
Jul 23 2007 // Legislation passes House, heads for the Senate; but not all in the industry think it’s the answer as now written Insurance regulatory reform efforts on Capitol Hill took a giant leap forward with the recent House...
THE NONADMITTED INSURANCE AND REINSURANCE REFORM ACT OF 2007 (HR 1065)
Jul 23 2007 // The bill would establish national standards for how states regulate the surplus lines market and reinsurance. HR 1065 creates: a uniform system of premium tax allocation and remittance for surplus lines premium...
The Nonadmitted and Reinsurance Reform Act
Jul 23 2007 // After decades of frustration and brutal disappointment, the vexing and seemingly intractable tax payment and regulatory compliance problems surplus lines brokers face on multi-state risks are about to be solved. The long...
