Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
Building the case with customers for excess casualty coverage
Jul 23 2007 // What should brokers or agents say when they meet resistance from customers who already feel they are spending too much on liability coverage? Explain that in today’s world, it doesn’t take long to run through...
Congress gets serious about surplus lines insurance reform
Jul 23 2007 // Insurance regulatory reform efforts on Capitol Hill took a giant leap forward with the recent House passage of HR 1065, the Non-Admitted and Reinsurance Reform Act of 2007. Sponsored by Rep. Dennis Moore, D-Kan., and Rep....
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...
Lloyd’s CEO Puts the Hammer Down
Jul 12 2007 // “I have no doubt that there is a shared will in the market to improve our processes and much progress has been made,” stated Lloyd’s Chief Executive Richard Ward in response to a letter sent to the market...
N.Y. Agents Seeking Alternatives for Downstate Homeowners
Jul 12 2007 // Downstate New York insurance agents say they are seeking alternative sources of coverage, as many of their regular homeowners insurance companies continue to reduce exposure in their area. A membership survey conducted by...
Lloyd’s Ascot Launches Renewable Energy Insurance Program
Jul 6 2007 // Lloyd’s Ascot Underwriting, which operates Syndicate 1414 and is backed by AIG, announced the establishment of its new renewable energy operation, Renewco Underwriting. Ascot described Renewco as the “first...
NYMAGIC, CRM Part Ways on Excess Workers’ Comp Business
Jul 2 2007 // Insurance holding company NYMAGIC, Inc. reported it has closed on an agreement with workers compensation services firm CRM Holdings, Ltd. to have CRM assume almost all of the excess workers’ compensation policies...
Coverage interpretation and claims litigation at odds
Jul 2 2007 // But overall, construction market looks ‘optimistic,’ Willis exec says Today’s construction underwriters and their claim departments may not be following the same blueprint on issues of coverage...
Streamlining surplus lines
Jul 2 2007 // Declarations “Non-admitted insurance reform is a pro-consumer piece of legislation. HR 1065 makes it clear that the state where the policyholder resides should be the state that is in charge of regulation. …...
Coverage interpretation and claims litigation at odds
Jul 2 2007 // Today’s construction underwriters and their claim departments may not be following the same blueprint on issues of coverage interpretation for losses involving general liability and property damage claims, says Paul...
Colemont Creates Workers’ Comp, Division, Hires Specialty Broker
Jun 29 2007 // Colemont Insurance Brokers-Southern California has added Blake Baker to its Woodland Hills, Calif., office. Baker is a workers’ compensation specialty broker with more than 20 years of experience in the...
International Excess Names DeMarco President of Business Development
Jun 29 2007 // Editor’s Note: An earlier version of this article incorrectly named DeMarco as president and CEO of International Excess. DeMarco is president of Business Development and chief financial officer. Insurance Journal...
Lloyd’s Enables Advanced Slip Checking Technology
Jun 28 2007 // In a further move to bring its processing operations into the 21st Century, Lloyd’s announced that it has “teamed up with Adsensa – one of the London Market’s leading suppliers of slip and policy...
P/C Industry Net Income, Overall Profitability Slip in 1Q 2007
Jun 28 2007 // The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to...
Lloyd’s Profiles FBI’s ‘Man in London’
Jun 26 2007 // Although it’s fairly well known that the U.S. maintains a number of law enforcement offices and personnel around the world, it’s rare to get a close-up interview with an actual agent. Lloyd’s has managed...
House Passes Uniform Surplus Lines Insurance Reform
Jun 26 2007 // The U.S. House of Representatives passed H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 2007, legislation that if enacted, will help increase the efficiency of the existing state-based insurance regulatory...
Guy Carpenter Set to go Electronic on All Lloyd’s Claims
Jun 21 2007 // Guy Carpenter & Company, Marsh & McLennan’s risk and reinsurance specialist, announced plans to mandate the use of Electronic Claims File (ECF) for in-scope claims for all Lloyd’s markets from January...
Montpelier Re Launches New Lloyd’s Syndicate; S&P Comments
Jun 21 2007 // Bermuda’s Montpelier Re Holdings Ltd. announced that it has received approval from Lloyd’s for the commencement of trading on July 1, 2007 of a new Syndicate, to be known as Montpelier Syndicate 5151, pseudonym...
American Safety Enters Surplus Lines Property Market
Jun 21 2007 // New Jersey-based American Safety Insurance Services, Inc. said it has acquired a team of underwriters and entered the surplus lines property market, offering both monoline property and commercial multi-peril...
