Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Australia Extends Aviation Excess Coverage
Apr 12 2002 // The Australian government has joined the U.S., the European Union and other countries in extending excess coverage for terrorist and war risk to the country’s airline industry and related infrastructure. The...
Lloyd’s Change to Annual Accounting Creates $4.45 Billion Loss Estimate for 2001
Apr 11 2002 // Lloyd’s decision to begin reporting the profits and losses of its syndicates on an annual basis, rather than over three years, produced some costly results, with last year’s losses estimated at £3.11...
Endurance Specialty CEO Sees Market Challenges
Apr 3 2002 // In a recent discussion of the state of the p/c insurance and reinsurance market Kenneth J. LeStrange, Chairman, CEO and President of Bermuda-based Endurance Specialty Insurance, Ltd. saw continuing challenges, but also...
Lloyd’s Kiln Covers Drug Company Patents
Apr 1 2002 // London’s Financial Times carries a report that Lloyd’s underwriter Kiln has written policies insuring an unidentified “multinational pharmaceutical group” against challenges to some of its...
Lloyd’s Completes $5 Billion Trust Fund Transfer
Mar 29 2002 // Lloyd’s of London announced that it has completed the transfer of over $5 billion to its trust funds in the United States since September 2001, and has fulfilled the arrangement made with the National Association of...
Moody’s Report Discusses Effect of Decreasing Number of Lloyd’s Syndicates
Mar 28 2002 // A report by Moody’s Investors Service discusses the long term effects of the dwindling number of Lloyd’s syndicates, and concludes that, although the trend marks a decline in Lloyd’s market share, it will...
AXIS Gains Wide Access to U.S. Market with Company Acquisitions
Mar 26 2002 // Newly formed Bermuda insurer AXIS Specialty Limited announced that that its US subsidiary, AXIS Specialty U.S. Holdings, Inc., has entered into agreements to purchase the Royal & SunAlliance Personal Insurance Company...
Cox to Run Off $142 Million in Lloyd’s Business as Part of Restructuring
Mar 22 2002 // Hit heavily by the Sept. 11 attacks, with estimated losses from the events now reaching £125 million ($178 million), Cox insurance, which writes both retail coverage and participates in the Lloyd’s market,...
ISO Service Offers New Program for Loss Control, Safety Professionals
Mar 18 2002 // Insurance Services Office, Inc.’s (ISO) Engineering and Safety Service (E&STM) unit is offering a new, self-directed ‘distance learning’ program for loss control and safety professionals to study and...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // After the record losses from the WTC attacks, two cash calls, a buffeting by the rating agencies, a proposed reorganization of its basic financial structure and an audit by the National Assoc-iation of Ins-urance...
Lloyd’s Seems to be Weathering the Storm
Mar 11 2002 // Elton John’s “I’m Still Standing” could become Lloyd’s theme song—it’s a better fit than “Candle in the Wind.” After the record losses from the WTC attacks, two cash calls,...
Global-Reinsurance Industry Foresees Growth in Online Services
Mar 11 2002 // If anyone needs proof that the Internet is no longer a curiosity, the reinsurance industry is a good place to start looking. Reinsurance companies aren’t generally known for the rapidity with which they adopt...
Lloyd’s Still on ‘Watch Negative’
Mar 11 2002 // S&P announced that its “A” insurer financial strength rating on the Lloyd’s insurance market will remain on CreditWatch with negative implications, but expects the placement to be resolved by the end...
NAPSLO Mid-Year Meeting Largest in Association’s History
Mar 11 2002 // The National Association of Professional Surplus Lines Offices (NAPSLO) held its mid-year meeting Feb. 24-27 in San Antonio, Texas—the largest such meeting in the history of the association. Originally scheduled for last...
Class Action Reform, AfterMarket Crash Parts Top AIA Priorities at Upcoming NCOIL Meeting
Feb 26 2002 // The American Insurance Association (AIA) will urge state insurance legislators to encourage states to allow options for insurers that use aftermarket crash parts and to make strides toward civil justice reform during this...
Aon Names Turner, President, P/C for Combined Specialty Corp.
Feb 26 2002 // Aon Corporation has named F. Marshall Turner, President — Property & Casualty, Combined Specialty Corporation. “We’re very happy to have Marshall join Combined Specialty Corporation as a member of...
Specialty Programs
Feb 25 2002 // Nuts & Bolts: East-West Connection Inc. of Washington Township, N.J., is offering a new market for specialty programs. Dollars: Has program volumes of $2 million to $5 million; policy limits up to $1 million. Carrier:...
S&P Keeps Lloyd’s on Watch Negative
Feb 21 2002 // Standard & Poor’s announced that its single-‘A’ insurer financial strength rating on the Lloyd’s insurance market will remain on CreditWatch with negative implications, but said it...
Report Indicates Lloyd’s Will Pass NAIC Audit
Feb 15 2002 // Lloyd’s is apparently set to receive a clean bill of financial health from the auditors who’ve been examining its accounts, and evaluating its reserves, as part of last November’s agreement with the...
Building Profitability into the Commercial Auto Market
Feb 11 2002 // Like most property and casualty insurance lines, the commercial auto insurance market has witnessed rate increases over the past year and expects to see more. And, as in other lines, underwriters are scrutinizing accounts...
