Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
IMB Warns of Horn of Africa Piracy Perils; Lloyd’s Reaction
Jun 20 2007 // The ICC International Maritime Bureau (IMB) has issued an alert to all sea traffic off the Horn of Africa. “Heavily armed pirates are subjecting vessels to violent attacks while in international waters,” said a...
Brokers’ stock prices up 8%; 23 M&As posted in April and May
Jun 18 2007 // Stock Prices: Overall, brokers’ stocks have performed well year-to-date, up 8 percent. A strong contributor to the stock price increase is the merger and acquisition premium related to the high prices private equity...
Ribeiro Named New Lloyd’s Director – International Markets
Jun 14 2007 // Lloyd’s has appointed Jose Ribeiro, currently Willis’ Managing Director for Latin America and the Caribbean, as its new Director of International Markets and Business Development. He assumes responsibility...
Lloyd’s Settles Dispute with Aon, Benfield over Central Fund Policy
Jun 11 2007 // Lloyd’s announced that it has reached a settlement with brokers Aon and Benfield of litigation centering on the placement terms of the New Central Fund insurance policy, issued in 1999. Benfield made a similar...
Investment Manager D.E. Shaw Set to Acquire Specialty Insurer James River
Jun 11 2007 // Global investment manager D. E. Shaw group has organized a Bermuda-based holding company to acquire James River Group, Inc. a North Carolina- based excess and surplus and workers’ compensation insurer, in a...
Lloyd’s to Issue Tier 1 Subordinated Debt; S&P, Best Ratings
Jun 7 2007 // Lloyd’s announced plans to “return to the debt markets with a benchmark issue of Tier 1 perpetual subordinated debt.” The bulletin said the “issue will give greater flexibility and liquidity to...
Florida Welcomes Insurers to Anxious Market
Jun 5 2007 // Eight new insurers entered the property and casualty insurance marketplace in Florida since January 1, 2007 according to the Florida Office of Insurance Regulation The insurers represent a variety of insurance entities...
Arch Promotes Kmetz for Global Property, Manahan for E&S
May 31 2007 // Arch Insurance Group, a subsidiary of Arch Capital Group Ltd., announced the following executive moves in its property division effective immediately: Michael Kmetz has been promoted to senior vice president and will be...
