Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Tolle Discusses Reinsurance Securitization Growth
Sep 22 2006 // A bulletin on the Lloyd’s Website (www.lloyds.com) gives highlights from a recent conference, held at the Reinsurance Rendezvous in Monte Carlo, on the continuing development and “convergence of traditional...
MGAs Urge Congress to Pass Surplus Lines Reform Bill
Sep 22 2006 // The American Association of Managing General Agents is asking Congressman John A. Boehner, R-Ohio, and Congressman John Conyers, D-Mich., to place the Non-Admitted & Reinsurance Reform Act of 2006, HR 5637, on the...
Lloyd’s Implements Xchanging Claims Handling System
Sep 20 2006 // In what it called “a good step towards eradicating paper in the market,” Lloyd’s announced the implementation of “an electronic filing cabinet,” which has been launched “for handling...
Lloyd’s Market Process Reform Gains Momentum
Sep 20 2006 // Momentum is usually used in the context of football games and political campaigns, not in referring to 300-year old insurance markets. But Lloyd’s certainly seems to be gathering momentum when it comes to business...
Fla. Orders 5 Workers’ Comp Insurers to Refund ‘Excess Profits’
Sep 19 2006 // Florida Insurance Commissioner Kevin McCarty has ordered five workers’ compensation insurance carriers to return what his department has determined are excessive profits totaling $649,363.00. Workers’...
Surplus Lines Premium Volume Shows Little Growth
Sep 19 2006 // Direct premium volume for the surplus lines insurance market remained relatively flat in 2005 as it did in 2004, after growing significantly during the three prior calendar years. The significant growth had been a...
Eight Lloyd’s Members to Enter Offshore Energy Center Hall of Fame
Sep 18 2006 // Eight members of the Lloyd’s market are to be honored at the end of the month by becoming some of the first insurance professionals to be inducted into the Offshore Energy Center (OEC) Hall of Fame. A bulletin on the...
Guy Carpenter Releases Annual Specialty Program Market Survey
Sep 13 2006 // Guy Carpenter & Company Inc., the global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, has released its second annual survey of domestic insurance companies that write substantial...
Reinsurers Adopt ‘Wait and See’ Posture at Rendezvous
Sep 13 2006 // For the first time in two years the high and mighty from the reinsurance world have gathered for the annual Rendezvous in Monte Carlo without having to face the consequences of an ongoing catastrophe (Ivan in 2004 and...
CV Starr Launching Lloyd’s Syndicate
Sep 12 2006 // Lloyd’s has approved a new syndicate, Syndicate 1919, which will be capitalized by C.V. Starr (25%) and Starr International Investments Limited (75%). The syndicate aims to start underwriting on October 1, 2006,...
Berkley Launches Specialty Division for Environmental Contractors
Sep 12 2006 // W. R. Berkley Corporation announced that Berkley Specialty Underwriting Managers LLC has formed a new division that will offer specialty insurance products for environmental contractors, consultants and site specific...
Singapore PM Urges Lloyd’s to Expand Asian Links
Sep 11 2006 // Lloyd’s Chairman Lord Levene welcomed His Excellency Lee Hsien Loong, Prime Minister of Singapore, and a host of senior executives from across the insurance market, government and business at a dinner held in the...
Best Affirms ‘A’ Rating of Markel’s Lloyd’s Syndicate 3000
Sep 8 2006 // A.M. Best Co. has affirmed the financial strength rating of “A” (Excellent) and issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 3000. The outlook on both ratings remains...
Beazley Launches Lloyd’s Facility for U.S. Commercial Property Cat Risks
Sep 6 2006 // The London-based Beazley Group plc, a leading Lloyd’s insurer, has created a facility in the Lloyd’s market for catastrophe – exposed U.S. commercial property risks. Beazley said its “Quincat...
Hiscox Lloyd’s Syndicate ‘in Discussions’ on Bermuda Sidecar
Sep 5 2006 // The U.K.’s Hiscox plc announced that its Board of Directors, is “in discussions which could lead to the creation of a new reinsurer, which will only reinsure Hiscox Syndicate 33,” which it manages, and in...
Surplus lines designation curriculum updated; good fit for retailers as well
Sep 4 2006 // After 10 years on the circuit, the surplus lines industry’s first designation has received a facelift. Beginning in January 2007, the Associate in Surplus Lines Insurance designation (ASLI) will be earned by passing...
Rates are softening
Sep 4 2006 // As the surplus lines world turns to another year of soft market conditions, specialists and innovators may be the ones to survive as increasing competition intensifies, according to excess and surplus lines brokers,...
Also, Phillip Hill was elected chief financial officer and vice president of operations. Hill has been part of Ogilvy-Hi
Sep 4 2006 // People Ogilvy-Hill Insurance elected Mark Shipp president and CEO. Shipp has been with Ogilvy Hill for 11 years. In addition to his new role as president/CEO he will continue to build new relationships in the field. The...
Lloyd’s Outlines its Reinsurance Activities, Thunderbird Re Sidecar
Aug 31 2006 // In anticipation of the upcoming Reinsurance Rendezvous in Monte Carlo, Lloyd’s has presented an outline of its reinsurance activities and announced the creation of a Cayman Islands-based sidecar, Thunderbird Re, to...
PIA National Offers Agents’ E&O Coverage Through Lloyd’s
Aug 31 2006 // The National Association of Professional Insurance Agents (PIA) has a new market for insurance agents’ Errors and Omissions (E&O) insurance through Lloyd’s, London – utilizing Lighthouse...
