Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Langley Leaving Hiscox to Become Lloyd’s Director
May 31 2007 // Sue Langley, previously Chief Operating Officer at Hiscox, is leaving the Bermuda-based/UK insurer to take up a new position as Lloyd’s Director, Market Operations and North America. She is expected to formally join...
Navigators Opens Specialty Program Division; Cullen Named Unit President
May 25 2007 // The Navigators Group, Inc.’s principal underwriting agency subsidiary, Navigators Management Company, has established the Specialty Program Division. Products underwritten for niche markets by the division will...
E&S Carrier Ironshore Approved to Write Commercial Risks in Fla.
May 24 2007 // Bermuda-based Ironshore Insurance Ltd. reports it has been approved to write property, property catastrophe and casualty insurance on an excess and surplus basis for risks in Florida. Ironshore, formed in late 2006, is a...
Max Specialty Now Eligible in N.Y., N.C., Kan. for Total of 45 States
May 24 2007 // Max Specialty Insurance Co., based in Richmond, Virginia, is now an eligible surplus lines carrier in 45 states, with the recent addition of New York, North Carolina and Kansas. Max Capital Group Ltd.,through its operating...
Business Risk Partners, Praetorian Offer Small-Middle Market D&O
May 23 2007 // Business Risk Partners and Praetorian Financial Group are launching insurance products: Private Accord and Excess Guardian. Private Accord is a directors and officers liability package product for small and middle market...
Recent Ratings Recaps: ACE (Aus. & NZ); CCR; Omega; Kiln
May 22 2007 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and the issuer credit rating (ICR) of “a+” of ACE Insurance Limited (Australia) and ACE Insurance Limited (New Zealand)...
The Courage to Compete
May 21 2007 // In 1968 when the Maurice “Hank” Greenberg took over what was to become American International Group (AIG), it was an insurance agency selling other insurers’ policies around the globe. Within years, AIG...
Swett & Crawford CEO says softening market doesn’t leave out E&S market as an option
May 21 2007 // Whether the market is “soft” or “softening” doesn’t make a difference. There’s still a place for the excess and surplus lines broker in the mix, says Neal Abernathy, CEO of Swett and...
News Currents
May 21 2007 // Lloyd’s and Economist Intelligence Unit report warns of threats from political violence Global business leaders report they are increasingly concerned about risk; prevents some from investing overseas A new report...
Big Dig insurer AIG to pay $58.5 million in workers’ comp excess profit
May 21 2007 // Massachusetts Attorney General Martha Coakley has reached a $58.5 million settlement with American International Group (AIG), the workers’ compensation carrier for the Central Artery Tunnel (CA/T) Project, known as...
Trinity E&S Reduces Minimum Premium for Contractors
May 15 2007 // Trinity E&S Insurance Services based in Bermuda Dunes, Calif., has reduced the minimum premium for its contractors’ program from $25,000 to $10,000 for the majority of classes with coverage for tract work. The...
S&P Raises Rating on Lloyd’s Advent Syndicate 0780; Outlook Positive
May 15 2007 // Standard & Poor’s Ratings Services has raised its Lloyd’s Syndicate Assessment (LSA) on Advent Underwriting – Syndicate 0780 to “2” from “2-” with a positive...
Lloyd’s Still Insures Body Parts: ‘Ugly Betty’s Smile’ Worth $10 Million
May 14 2007 // It’s somehow comforting to learn that for all of its recent commitments to “underwriting discipline,” “the bottom line” and electronic trading, Lloyd’s still takes on the odd – not...
Lloyd’s Report Warns of Threats from ‘Political Violence’
May 10 2007 // A new report from Lloyd’s and the Economist Intelligence Unit (EIU) has found that global businesses are becoming increasingly concerned about risks from political violence. However, too little has been done to...
Western National Insurance Announces Launch of Specialty Co.
May 8 2007 // Western National Insurance Group recently announced its plan to launch a new property/casualty insurance company with a focus on specialty lines of business. The Group currently has a wholly-owned company shell, Pioneer...
Thinking outside of the box
May 7 2007 // No one knows just how many managing general agencies (MGAs) operate in the United States, but the insurance industry couldn’t survive without them, says Scott Anderson, current president of the American Association...
Thinking outside of the box
May 7 2007 // MGAs deliver more than just specialty packages as they prepare for changing market No one knows just how many managing general agencies (MGAs) operate in the United States, but the insurance industry couldn’t survive...
Brit Sells Majority Stake in RI3K to London Investors
May 4 2007 // If you build a better insurance trading platform, the world will beat a path to your door. Well, maybe not the world, but a group of sophisticated investors from “the City” (London’s financial heart) came...
OneBeacon Reports Boost in Book Value, Drop in Premiums in 1Q
May 3 2007 // OneBeacon Insurance Group, Ltd. reported first quarter 2007 adjusted book value per share of $17.76 representing a 4.5% increase for the quarter including dividends. For the 12 months ended March 31, 2007, adjusted...
Lloyd’s Testing Slip/Policy Quality Check Program
May 1 2007 // In its search for ways to “make it easier for underwriters and brokers to ensure that insurance contracts are right first time,” Lloyd’s has begun testing a new system that will check insurance slips...
