Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Producers Caught in Multistate Surplus Lines Web
Aug 23 2004 // A solution that is both simple and fair is the creation of an interstate compact like the one under review by NAPSLO’s legislative committee. Surplus line producers have benefited greatly from the Gramm-Leach-Bliley...
Freeburg Joins Noodle Specialty Brokers, Will Underwrite D&O and EPLI
Aug 19 2004 // Chicago-based online wholesaler Noodle Specialty Brokers (NSB) announced that Jonathan Freeburg, 44, has joined the company as a senior underwriter focusing on private company directors’ and officers’ liability...
Pecoraro Sentenced in La. for Fraud Conspiracy
Aug 19 2004 // A man who was on the lam for 11 years from Louisiana’s 1990s insurance scandals was sentenced on Aug. 18, 2004 to less than two years in prison, the Associated Press reported. Nofio Pecoraro Jr., 54, pleaded guilty...
Aspen Specialty to Open Ga., Ariz. Offices
Aug 18 2004 // Aspen Insurance Holdings Ltd. announced that Aspen Specialty Insurance Company, a wholly owned subsidiary, will open offices in Atlanta, Georgia and Scottsdale, Arizona. Janet Lovell and Glen Plagmann will lead...
Monarch E&S Announces New Appointments
Aug 18 2004 // Derek Borisoff, CEO and president of Monarch E&S Insurance Services has announced that Lance Amick has been hired as the branch manager/senior underwriter of the San Diego branch office. Amick’s responsibilities...
Lloyd’s Opens West Coast Office in L.A.
Aug 17 2004 // Lloyd’s announced it is opening a West Coast office based in Los Angeles, whose principal goal will be to enhance the Lloyd’s trading platform in four Western States: California, Oregon, Washington and...
ACE Westchester Specialty Group Bases New Environmental Division in Atlanta
Aug 16 2004 // ACE Westchester Specialty Group, the U.S.-based wholesale focused property and casualty operation of the ACE Group of Companies, has entered the environmental risk market, resulting in the creation of a new environmental...
Best Takes Rating Actions on Lloyd’s Syndicates
Aug 13 2004 // Following the upgrade of the financial strength rating to “A” (Excellent) from “A-” (Excellent) of Lloyd’s of London and the assignment of an issuer credit rating (ICR) of “a” (See...
Best Upgrades Lloyd’s Rating to ‘A’; Mgmt. Comments
Aug 13 2004 // A.M. Best Co. announced that it has upgraded Lloyd’s financial strength rating to “A” (Excellent) from “A-” (Excellent), and has assigned an issuer credit rating of “a” with a...
Great American Promotes Sullivan to President of its Specialty Human Services Division
Aug 6 2004 // Cincinnati-based property/casualty carrier Great American Insurance Group announced that John W. Sullivan has been promoted to divisional president of its specialty human services division. Sullivan has managed this...
Fowler and Keyes Join Noodle Specialty Brokers as Underwriting VPs
Aug 6 2004 // Insurance industry veterans James A. Fowler and John D. Keyes have joined Chicago-based Noodle Specialty Brokers (NSB), the newly formed division of InsuranceNoodle Inc., as senior vice presidents of underwriting. Noodle...
Aetna Launches Specialty Pharmacy
Aug 4 2004 // Aetna has revealed plans for a joint venture to provide specialty drugs to its members of its health plans with severe chronic illnesses while holding down costs. The launch of Aetna Specialty Pharmacy, jointly owned by...
Prime Authorized to Write Surplus Lines in Minnesota
Aug 4 2004 // Salt Lake City, Utah-based surplus line carrier Prime Insurance Syndicate Inc. announced that it has received approval to write surplus lines insurance business in Minnesota, effective Aug. 1, 2004. Prime, which offers...
Argonaut Sees Record Earned Premium in 2Q
Aug 3 2004 // Argonaut Group Inc., based in San Antonio, announced financial results for the three months ended June 30, 2004, reporting that earned premiums for the quarter were a record $157 million. The company’s consolidated...
Penn-America Says Second Quarter Record Results Reflect Firm Pricing in E&S Lines
Jul 28 2004 // Penn-America Group, Inc. in Hatboro, Pa., (NYSE: PNG ) reported record operating income of $4.8 million or $0.32 per share for the second quarter of 2004 compared with operating income of $3.7 million or $0.25 per share...
Savage Appointed to Finance Director Post at Lloyd’s
Jul 22 2004 // Lloyd’s of London announced it has appointed Luke Savage as its new finance director. Savage has worked in investment banking for the last 17 years, including ten years at Morgan Stanley and three years at Lloyds...
Axis Introduces New Commercial Property Capabilities
Jul 21 2004 // Axis U.S. Insurance has announced that its excess and surplus (E&S) property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. Jeffrey Berkshire has joined Axis...
N.Y. Surplus Lines Industry Worried Gov. Pataki Will Not Sign Minimum Premium Bill
Jul 20 2004 // The New York surplus lines industry is trying to convince the Pataki administration to allow a change in the premium financing of surplus lines accounts, a change that lawmakers have approved overwhelmingly, but the...
New Specialty Trades Program Looks to Exploit Market Opportunity
Jul 19 2004 // Litigation around the country concerning contractors’ liability for construction defects discovered after operations are completed has made coverage very difficult to come by for specialty trade contractors, but it...
Construction Defects Burning a Hole through the Residential Contractors Market
Jul 19 2004 // Whether real or imagined, the threat of construction defects litigation has burned through the residential contractors liability insurance market like a California wildfire. Over the past couple of years, contractors and...
