Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
D&O excess limits up but premiums down
Feb 5 2006 // Directors and officers liability insurance capacity leveled off at about $1.5 billion in 2005, about where it was in 2004, while coverage restrictions continued to ease, according to D&O Liability 2005 Survey...
SPECIAL REPORT: Commercial Umbrella
Feb 5 2006 // Insolvencies have left numerous corporations with uncollectible excess casualty claims and no recourse but to pay these large claims out of company coffers. What happens when the excess carrier goes under To avoid high...
Lloyd’s to Sue Aon, Benfield Over Central Fund Policy
Feb 3 2006 // Lloyd’s is on the verge of initiating formal legal proceedings against two of its largest brokers, Aon and Benfield, over the Central Fund reinsurance policy they negotiated with a group of six insurers in 1999. The...
Lloyd’s Faraday Announces Underwriting Appointments
Feb 2 2006 // Faraday Group, the broker-focused Lloyd’s managing agent and London-based reinsurance group, announced the approval of the appointments of Mark Rayner and Paul Ceurvorst as joint Chief Underwriting Officer and Active...
Best Assigns ‘A’ Ratings to SVB’s Lloyd’s Syndicates 2147 & 1007
Feb 1 2006 // In two separate announcements A.M. Best Co. said it has assigned a Best’s Syndicate Rating of “A” (Excellent) and an issuer credit rating (ICR) of “a” to Lloyd’s Syndicate 2147 and...
Guy Carpenter Unveils Report on Jan. 1 Property Reinsurance Renewals
Jan 31 2006 // Guy Carpenter & Company Inc. reported the publication of Property Specialty Update – 1 January 2006 Renewal Season Overview, an in-depth report on the Jan. 1, 2006 property renewal season. The study, which...
Specialty Global Unveils Miscellaneous E&O Program with Everest
Jan 31 2006 // Specialty Global Insurance has launched its nationwide miscellaneous E&O program with Everest Indemnity Insurance Company, a member of the Everest Re Group Ltd. As Everest’s underwriting and claims manager for...
California Surplus Line Association Elects New Officers
Jan 31 2006 // The Surplus Line Association of California’s (SLA) elected new officers at its Annual Meeting held in Northern California on January 24 and in Southern California on Jan. 26, 2006. New officers include: chairman...
Brit’s Douetil to Head Lloyd’s Market Reform Group
Jan 30 2006 // Lloyd’s announced that Dane Douetil, Chief Executive of Brit Insurance Holdings PLC, has been appointed as the new head of the Market Reform Group (MRG), the body responsible for process reform and modernization in...
Mass. Economic Warning: Insurance Market Short on Capital
Jan 27 2006 // Massachusetts is facing a shortage of insurance capital that could jeopardize the state’s entire economy, especially if a major storm hits the metropolitan Boston area, the Commonwealth’s insurance regulator is...
Lloyd’s Leaders Participate in Davos Panel Discussion on Global Risks
Jan 27 2006 // The Lloyd’s delegation, currently attending the World Economic Forum in Davos, Switzerland, will be part of a panel discussion examining one of the “three main themes of the event -” the rise in global...
D&O Liability Premiums Fall for Second Straight Year, Tillinghast Survey Says
Jan 26 2006 // Directors and officers liability insurance average premium index dropped another 9 percent in 2005 after dropping 10 percent in 2004, while half of all public and private companies have received D&O inquiries from...
Lloyd’s Comments on Cat Models
Jan 26 2006 // “Catastrophe models are useful, but have their limits,” says a comment on the Lloyd’s Web site (www.lloyds.com). “That is the lesson learnt by the insurance industry following last year’s...
Hudson Adds Environmental Program to 50 States, D.C.
Jan 26 2006 // Hudson Programs, an operating division of Hudson Insurance Group, reported that their environmental insurance program is now available in all 50 states, plus the District of Columbia. The program is exclusively...
Fireman’s Fund Specialty Expands Freight Forwarders Program
Jan 26 2006 // Fireman’s Fund Insurance Company has introduced a new insurance package offering combinations of shippers interest, bailee, legal liability, and errors and omissions (E&O) coverages for freight forwarders. The...
RI3K Head Warns Lloyd’s of Need to Reform to Survive
Jan 26 2006 // In a speech to the Insurance Institute of London yesterday, Jan. 25, Alex Letts, the Chief Executive of RI3K Ltd. – the London-based provider of platform technology infrastructure for the reinsurance industry,...
The Hartford Sees Q4 2005 Net Income of $474 Million
Jan 26 2006 // The Hartford Financial Services Group Inc. reported fourth quarter 2005 net income of $474 million, or $1.53 per diluted share. The company’s net income reached $2.3 billion for the year, a new record for the...
Lloyd’s Announces Governing Council Election Results
Jan 24 2006 //
Lloyd’s Shuts Kinnect
Jan 24 2006 // Ultimately “all the King’s horses and all the King’s Men” couldn’t put Kinnect together again. The King’s men in this case being the management of Lloyd’s, who have finally thrown...
Specialty Global Unveils Travel Agents E&O Program
Jan 24 2006 // Specialty Global Insurance is launching a nationwide Travel Agents E&O program. The new program is designed for travel agents and tour operators with gross written receipts of $5,000,000 or more. Specialty Global...
