Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
S&P Assigns Lloyd’s Assessment Rating to Amlin’s Syndicate 2001
Dec 23 2005 // Standard & Poor’s Ratings Services announced that it has assigned its interactive Lloyd’s Syndicate Assessment (LSA) of ‘4’ (low dependency) to U.K.-based Amlin Underwriting – Syndicate...
Specialty Risk Services Names Ryan Southeast Account Management V.P.
Dec 22 2005 // Michael Ryan has been named vice president of the Southeast Account Management Division of Specialty Risk Services of Hartford, Conn. Ryan will be based in Atlanta and will oversee the account management team in the...
GMAC RE Establishes New Excess & Surplus Lines Unit
Dec 20 2005 // GMAC Insurance Group announces the formation of a new operating unit, Strategic Risk Specialists. The new unit will commence operations on Jan. 1, 2006, and will specialize in excess and surplus lines property business,...
Best Rates U.K.’s Hiscox, Lloyd’s Syndicate, Bermuda Start-Up
Dec 19 2005 // A.M. Best Co. has announced its credit ratings on U.K. specialist and Lloyd’s insurer Hiscox plc. and its operating entities. It affirmed the financial strength rating (FSR) of “A-” (Excellent) and the...
Lloyd’s Hurricane Losses Top $ 5 Billion
Dec 19 2005 // In an updated statement, Lloyd’s acknowledged that it now estimates the London market’s combined losses from the three hurricanes that struck the U.S. will exceed $5 billion. The new figures are based on the...
Excess Liability Coverage
Dec 19 2005 // Nuts & Bolts: AIG Excess Casualty, a division of American Home Assurance Co., has introduced xsInResponse to provide excess liability coverage for risks previously covered by an insurance carrier that is now...
Best Affirms Amlin Plc, Lloyd’s Syndicate 2001 Ratings
Dec 16 2005 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2001, managed by Amlin Underwriting Limited...
Best Assigns Amlin’s New Bermuda Company an ‘A-‘ Rating
Dec 16 2005 // Following its affirmation of the parent company’s ratings (See previous article), A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating...
Prime Secures Lloyd’s Binding Authority to offer Independent Producers Lloyd’s Paper on Certain Liability Risks
Dec 13 2005 // SANDY, Utah – The Prime Insurance Syndicate, Inc. (“Prime”) is pleased to announce that effective October 1, 2005; Prime secured additional binding authority from certain underwriters at Lloyd’s of...
Dorr Joins Mass. Office of HCC Specialty Underwriters
Dec 13 2005 // HCC Specialty Underwriters, Inc., a specialty underwriting agency subsidiary of HCC Insurance Holdings, Inc., announced that Glenn B. Dorr III has joined its Wakefield, Mass. office. Dorr has been in the insurance industry...
Lloyd’s Dropped from R.I. Nightclub Suit
Dec 12 2005 // A federal judge in Rhode Island has ordered Lloyd’s of London dropped from a civil lawsuit filed by victims of the 2003 fire at the Station nightclub. Finding that the insurance policy issued to nightclub owner...
XL Announces Changes in Leadership at Specialty Marine and Energy Unit
Dec 6 2005 // Clive Tobin, chief executive responsible for XL Capital Ltd’s insurance operations announced the appointment of a new leadership team for XL Insurance Global Marine and Offshore Energy unit, part of XL’s...
Willis Buys N.Y.-Based Armored Car Insurance Specialty Broker
Dec 6 2005 // Willis Group Holdings Limited, the global insurance broker, announced today the stock acquisition of International Insurance Brokers, Inc. Located in Staten Island, N.Y., International Insurance Brokers is a specialized...
SUIT FILED OVER EXCESS FLOOD COVERAGE
Dec 5 2005 // A pair of plastic surgeons in New Orleans, La., who are facing more than $1 million in uninsured home losses from Hurricane Katrina, are suing State Farm Insurance, claiming the company did not tell them they could have...
IJ’s Program Directory, as well as IJ’s E&S Directory and Workers’ Comp Directory, are also available online. Brokers an
Dec 4 2005 // Welcome to Insurance Journal’s 14th Annual Program Directory, Volume II. Information contained in this 2005 directory has been compiled by IJ’s staff as a resource for readers. For the purposes of this...
Regulation of Surplus Lines
Dec 4 2005 // Montana House Bill 631 (Signed into law on April 8, 2005) Regulation: This law relates to the revision of surplus lines insurance law and provides that a policy may not be placed with an unauthorized insurer unless the...
News Briefs
Dec 4 2005 // Willis Expands in China, Latin America: In a breakthrough agreement, global insurance broker Willis Group Holdings Limited, has received written approval from the China Insurance Regulatory Commission (CIRC) to increase...
Agency Consolidation Dynamics are Ripe for the Picking
Dec 4 2005 // The consolidation of insurance agencies has played a prominent role within the industry over the last 30 years. Now more than ever, however, such activity increasingly influences the average size of distributors, the scope...
XL Capital Forms Excess Surplus Unit
Dec 1 2005 // XL Capital Ltd. has created a new Excess & Surplus (E&S) lines unit to add to its insurance operations, Clive Tobin, chief executive officer, announced today from London. The new unit will be dedicated to...
Lloyd’s Ups Hurricane Losses to $3.27 Billion; Increases 2006 Capacity
Nov 30 2005 // Lloyd’s has issued an updated statement on the estimated financial impact on the market of Hurricanes Katrina, Rita and Wilma, based on the results gathered from “a Major Loss Return from each Managing...
