Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Must the Insurer Appeal’
Jun 23 2003 // A while back I was discussing with a colleague whether a carrier has a duty to prosecute an appeal on behalf of its insured. My initial thought was that upon the resolution of the underlying matter by a trial verdict and...
Vulcan E&S Announces New Addition
Jun 20 2003 // Vulcan Excess and Surplus Insurance Service Inc. of Riverside, Calif. announced the addition of Brenda Smotherman to it’s underwritng staff. Smotherman has 13 years in the surplus lines business with a major surplus...
Lloyd’s “Has Been a Beacon of Light” Lord Levene Tells Members at AGM
Jun 19 2003 // Lloyd’s Chairman, Lord Peter Levene, told Members attending its Annual General Meeting yesterday, that “Lloyd’s has been a beacon of light. We have defied the doomsayers. And we have done more than that:...
Moody’s assigns ‘A3’ Rating to Montpelier Re
Jun 18 2003 // Moody’s Investors Service has assigned an A3 (“Good”) insurance financial strength rating to Montpelier Reinsurance Ltd., the Bermuda-based property catastrophe and specialty property reinsurance company,...
N.H. Governor Vetoes Surplus Lines Tax Increase
Jun 17 2003 // Based on his “no new taxes” platform, New Hampshire Governor Craig Benson has vetoed a bill that would have reportedly raised premium taxes for surplus lines insurers. “This bill would have been a...
A.M. Best Downgrades MLMIC Group, Princeton and OHIC Ratings
Jun 16 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B (Fair) from B++ (Very Good) of the New York-based MLMIC Group, removed the rating from under review, and assigned a “negative”...
Lloyd’s Equitas Reports Fiscal Year Results
Jun 13 2003 // Equitas, the runoff vehicle established by Lloyd’s in 1996 to handle claims liabilities prior to 1992, principally asbestos and environmental claims, announced decreases in its reserves for the fiscal year ended 31...
Lloyd’s Sees Increasing Role for European Insurance Brokers
Jun 13 2003 // James Sutherland, who heads Lloyd’s Development & Strategy – Worldwide Markets, indicated that European brokers will play an increasingly powerful role in the European insurance market of the...
A.M. Best Places Ratings of Atlantic Mutual Companies Under Review with Negative Implications
Jun 9 2003 // A.M. Best Co. has placed the financial strength rating of A- (Excellent) of the Atlantic Mutual Companies (The Atlantic) (New York) under review with negative implications. Concurrently, A.M. Best has placed the...
R&SA to Sell U.S. Surplus Lines to Alleghany
Jun 9 2003 // The U.K.’s Royal & SunAlliance announced today that it has agreed to sell Royal Specialty Underwriting, Inc. (RSUI), its U.S. surplus lines division, to Alleghany Insurance Holdings LLC for “around £72...
The Ratings Game
Jun 9 2003 // Every day, agents and brokers use financial strength ratings of insurers in their business. A carrier’s ratings may affect an agent’s ability to place risks with that insurer, or the client’s willingness...
Working with Blowouts, Knock-for-Knocks and Other Oil Patch Oddities
Jun 9 2003 // One of the big issues facing small- to mid-size oil and gas operators and contractors these days is the need to determine how much risk they are willing to carry themselves and how much they want to transfer to an insuring...
Louisiana’s Jim Brown Won’t Back Down
Jun 9 2003 // What have you done in the last six months? Former Louisiana Commissioner Jim Brown lost 28 pounds, read 100 books, cooked for hundreds of people daily and squeezed in a weekly World Wide Web column between two book...
Execs Talk Future of Industry at 9th Annual ITC Forum
Jun 9 2003 // “Amateur hour is over.” Those were the words of the Sullivan Group president Gerald J. Sullivan, addressing a roomful of industry executives recently at the 9th Annual Insuring the Children Forum....
Working with Blowouts, Knock-for-Knocks and Other Oil Patch Oddities
Jun 9 2003 // One of the big issues facing small- to mid-size oil and gas operators and contractors these days is the need to determine how much risk they are willing to carry themselves and how much they want to transfer to an insuring...
Louisiana’s Jim Brown Won’t Back Down
Jun 9 2003 // What have you done in the last six months? Former Louisiana Commissioner Jim Brown lost 28 pounds, read 100 books, cooked for hundreds of people daily and squeezed in a weekly World Wide Web column between two book...
Surplus Lines and All that Jazz
Jun 9 2003 // Happy times are here again for professionals who operate in the excess and surplus lines arena—at least as far as making money goes. Rates are up, bringing commissions up with them, and in many lines the pull back of...
Surplus Lines and All that Jazz
Jun 9 2003 // Happy times are here again for professionals who operate in the excess and surplus lines arena—at least as far as making money goes. Rates are up, bringing commissions up with them, and in many lines the pull back of...
Joycette Casella Joins Western Security Surplus Brokers
Jun 6 2003 // Pasadena-based Western Security Surplus Insurance Brokers Inc. announced that Joycette A. Casella has joined as a broker. Casella will be responsible for producing new business opportunities in the commercial property and...
Lloyd’s Names Jeremy Pinchin to Head New Reinsurance & Claims Post
Jun 6 2003 // Lloyd’s of London’s Franchise Performance Director, Rolf Tolle, announced that Jeremy Pinchin, previously Special Counsel for September 11th claims, will head a newly created department of Reinsurance and...
