Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
N.J. DOBI Issues Notice on Legion to Surplus Lines Producers
Dec 4 2003 // Holly C. Bakke, the head of New Jersey’s Department of Banking and Insurance, has issued a bulletin to the state’s licensed surplus lines producers requesting that they advise policyholders about the Legion...
SIAA Claims More Than Just Aggregation
Dec 1 2003 // At first blush, the Strategic Independent Agents Alliance may look like just one more short-term solution to the increasing shift in the balance of power toward insurance carriers away from independent agents. Commissions...
How to Develop Program Business Despite Tough Market Standards
Dec 1 2003 // Over the past several years, launching new insurance programs—both from the perspective of potential producers (MGAs, retail agent groups, and wholesalers) and the specialty insurance carriers—has been difficult. The...
How to Develop Program Business Despite Tough Market Standards
Dec 1 2003 // Over the past several years, launching new insurance programs—both from the perspective of potential producers, such as MGAs, retail agent groups and wholesalers, and the specialty insurance carriers—has been...
SIAA Claims More Than Just Aggregation
Dec 1 2003 // At first blush, the Strategic Independent Agents Alliance may look like just one more short-term solution to the increasing shift in the balance of power toward insurance carriers away from independent agents. ommissions...
Chattem Inc. Notes Motion to Intervene in Lawsuit Filed by Interstate Fire & Casualty Co.
Nov 28 2003 // Chattem, Inc., a marketer and manufacturer of branded consumer products, announced that Interstate Fire & Casualty Company (“Interstate”) has filed a motion to intervene as a party plaintiff in the...
Guy Carpenter Unveils New Model for Studying Insurers’ Quota Share, Surplus/Trust Preferred Note Options
Nov 20 2003 // Guy Carpenter & Company, Inc. announced the development of a proprietary analytical tool in response to insurance companies’ growing use of quota shares and surplus/trust preferred notes to manage their capital...
ACE USA Appoints Riegler to Lead ACE Risk Management’s Excess Workers’ Comp Unit
Nov 20 2003 // ACE USA, the U.S.-based retail operations of the ACE Group of Companies, announced the appointment of Ken Riegler, senior vice president, to lead the National Excess Workers’ Compensation unit for ACE Risk Management...
Lloyd’s Adopts U.K. GAAP in Move to Annual Accounting
Nov 20 2003 // In a further move to bring its accounting procedures up to date, Lloyd’s announced it would adopt UK Generally Accepted Accounting Principles (GAAP) beginning January 1, 2005. It also plans to eventually adopt...
A.M. Best Affirms Rating for Energy Insurance Mutual Ltd.
Nov 17 2003 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Energy Insurance Mutual Limited (EIM) (Bridgetown, Barbados). The rating outlook is stable. The rating reflects EIM’s excellent...
Fitch Reports P/C Insurers’ Credit Exposure from Reinsurance Increases; Disputes Grow but Stay Small Relative to Surplus
Nov 14 2003 // U.S.-based insurers’ reinsurance credit exposures have increased significantly during a period in which the credit quality of the reinsurance industry has deteriorated, according to a new research report published by...
Lloyd’s Notes Step in Business Process Reform
Nov 11 2003 // London-based Lloyd’s announced that a comprehensive and consistent form of slip for writing risks will be mandated starting in January 2004. This new move reportedly will significantly improve business processes...
Panel Says Attracting Private Specialty Carriers to Calif. Will Stabilize WC Crisis
Nov 6 2003 // The California workers’ compensation system is broken with employers under immense financial strain due to continually rising premiums and employees feeling their legitimate claims being tarnished by the increasing...
Best Affirms Lloyd’s Syndicate 510 ‘A’ Rating
Nov 6 2003 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of A (Excellent) of Lloyd’s Syndicate 510 with a stable outlook. The U.K.’s R J Kiln & Co Ltd. is the Synicate’s manager. “The...
Rent Shield Announces $120 Million Lloyd’s Placement for Investment Property Risk
Nov 4 2003 // Toronto-based Rent Shield Corp, a provider of pass-through risk specialty insurance and reinsurance products, announced that it has received a Binding Agreement from Tysers International Insurance and Reinsurance Brokers...
Lloyd’s Issues Statement on Goshawk Withdrawal
Nov 3 2003 // Lloyd’s has issued a statement concerning the withdrawal of the U.K.’s Goshawk Insurance Holdings’ Syndicate 102 from the Lloyd’s market, indicating that the it will no longer be able to accept any...
SURPLUS LINE PREMIUM SEES 82 PERCENT INCREASE, SAYS SLA:
Nov 3 2003 // Ted Pierce, executive director of the Surplus Line Association of California (SLA), released the association’s nine-month total for processed surplus line premium showing an 82 percent increase over the 2002 premium...
Excess Flood Coverage
Nov 3 2003 // Nuts & Bolts: AIG Private Client Group, a division of the property and casualty subsidiaries of American International Group Inc. (AIG), has introduced excess flood coverage to support insureds in the event of...
The Reinsurance World 2003 – Capacity, Profitability and ‘The Cycle’
Nov 3 2003 // A year ago the reinsurance world had an optimistic side most companies had survived their exposures to 9/11 and premiums were rising. A pessimistic side reflected a 25 percent decline in capacity, thus limiting new...
AAMGA Reflects on Prosperous Year, Plans for the Future
Nov 3 2003 // The American Association of Managing General Agents (AAMGA) will hold its mid-year meeting at the Phoenician Resort & Spa in Scottsdale, Ariz., on Nov. 13-15. At the heart of this year’s meeting will be several...
