Latest Excess Surplus Headlines

Pacific Coast E&S Offers Business Auto Market

Sep 29 2006 // Pacific Coast E&S Services has a new business auto market available in California. Market covers business auto, liability and physical damage, light and medium vehicles; and local and intermediate radius. Most drivers...

Lloyd’s Posts $2.55 Billion H1 Profit

Sep 27 2006 // Lloyd’s announced overall first half profits of £1.3 billion ($2.553 billion), slightly below the £1.38 billion ($2.61 billion) it earned in the same period of 2005. Unfortunately Katrina, Rita and Wilma wiped out...

House Passes Surplus Lines Regulatory Reform Legislation

Sep 27 2006 // The U.S. House of Representatives passed legislation that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. H.R. 5637, The Non-Admitted and Reinsurance...

SIAA Appoints Fahy to Head Programs and Specialty Markets

Sep 26 2006 // Strategic Independent Agents Alliance (SIAA) has appointed William J. Fahy as executive vice president for programs and specialty markets. Fahy’s duties include working with SIAA’s senior staff and Master...

Farms need specialty breakdown coverage for critical equipment

Sep 25 2006 // In the grip of a heat wave, the owners of a fruit farm didn’t suspect a mechanical problem when a 600 hp deep well pump started producing less water. After all, the temperature had been soaring for weeks and other...

Specialty program market continues to grow, but new business still a challenge

Sep 25 2006 // The program administrator specialty market continues to grow, according to survey results by Guy Carpenter & Company Inc. More than 65 percent of survey respondents estimate the size of the program administrator...

Risk retention group 2005 premium grows 11.5% to $2.4 billion

Sep 25 2006 // Despite the softening property/casualty market, commercial insureds who find liability insurance unavailable or unaffordable, as well as those who desire stability and control of their liability programs, continue to...

Sep 25 2006 // People Miami insurance agent Alex Soto has been inaugurated as the new president of the Independent Insurance Agents & Brokers of America (the Big “I”), with Robert E. Fulwider assuming the office of...

Farms need specialty breakdown coverage for critical equipment

Sep 25 2006 // Information technology plays an important part in production and a computer’s sensitive electronic circuits are susceptible to electrical damage. … Add the mechanical equipment it takes to run a farm and the...

News Currents

Sep 25 2006 // Specialty program market continues to grow, but new business still a challenge The program administrator specialty market continues to grow, according to survey results by Guy Carpenter & Company Inc. More than 65...

Risk retention group 2005 premium grows 11.5% to $2.4 billion

Sep 25 2006 // Despite the softening property/casualty market, commercial insureds who find liability insurance unavailable or unaffordable, as well as those who desire stability and control of their liability programs, continue to...

People

Sep 25 2006 // Miami insurance agent Alex Soto has been inaugurated as the new president of the Independent Insurance Agents & Brokers of America (the Big “I”), with Robert E. Fulwider and C. Brett Nilsson assuming the...

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...