Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
NJ Grants Mold Exclusion for Surplus Lines
Jan 21 2002 // Reversing an earlier decision, New Jersey’s Department of Banking and Insurance announced that it will allow the exclusion of coverage for toxic mold from policies offered by the State’s surplus lines...
Lloyd’s Tables Radical Reforms For Consultation
Jan 18 2002 // Confirming earlier reports (See IJ Website Jan. 16), Lloyd’s announced that its ruling body, the Council of Lloyd’s, has put forth a radical plan to restructure the way the 300 year old market does business. If...
Without Terrorism Exclusions, Surplus Lines Insurers Hold Out Lifeline to Calif., N.Y. Businesses
Jan 14 2002 // AccordingSurplus lines insurers may offer hope for businesses to remain insured in those states, like California and New York, that are refusing to allow insurers to exclude terrorism risks in commercial insurance...
A.M. Best Affirms Lloyd’s
Jan 14 2002 // A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on...
A.M. Best Affirms Lloyd’s
Jan 14 2002 // A.M. Best Co. affirmed the “A-” rating of the Lloyd’s market and has removed the “under review” status of the rating, which was applied in the aftermath of the terrorist attacks in the U.S. on...
A.M. Best Gives Goshawk Re A- (Excellent) Rating
Jan 4 2002 // A.M. Best Co. assigned an initial financial strength rating of A- (Excellent) to Goshawk Reinsurance Limited (Goshawk Re), the recently established Bermuda-based subsidiary of the U.K.’s Goshawk Insurance Holdings...
Golden Gate Capital Invests in Bermuda-Based Endurance Specialty Insurance
Jan 4 2002 // Golden Gate Capital, a private equity investment firm based in San Francisco, Calif., has invested in Endurance Specialty Insurance, a Bermuda-based start-up focusing on the commercial property and liability insurance and...
Individual Names Continue to Leave Lloyd’s
Jan 3 2002 // The number of individual investors in Lloyd’s syndicates, known as Names, continues to decline, falling from 2,852 last year to 2,490 currently, a 13 percent decrease. As corporate capital becomes increasingly the...
A.M. Best Assigns ‘A-‘(Excellent) Rating to Danish Re, Lloyd’s Syndicate 1400
Dec 28 2001 // A.M. Best Co. has assigned an indicative financial strength rating of A- (Excellent) to Danish Re Bermuda Ltd., “a global reinsurer which underwrites at Lloyd’s as an Integrated Lloyd’s Vehicle and...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Report European Commission Set to Investigate Lloyd’s Regulation
Dec 20 2001 // London’s Financial Times carries a report that the European Commission has completed a preliminary investigation of Lloyd’s operations and may well “open formal proceedings against the UK...
W.R. Berkley to Enter Excess Medical Malpractice Market
Dec 19 2001 // Connecticut-based W.R. Berkley Corp. announced it will enter the excess medical malpractice market with the formation of Berkley Medical Excess Underwriters, LLC., based in St. Louis, Missouri, which will underwrite on...
A.M. Best Affirms Lloyd’s ‘A-‘ Rating, Removes from Review
Dec 18 2001 // A.M. Best announced that it has affirmed Lloyd’s “A- (Excellent) rating and has removed the “under review” status of its rating, which it applied shortly after the September 11 attacks. Best...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
Lloyd’s Capacity for 2002 Tops $17 Billion, Largest Ever
Dec 13 2001 // The rumors of Lloyd’s demise seem to have been premature, as the London market announced record breaking capacity for the year 2002 of around £12.3 billion ($17.5 billion), an increase of $1.8 billion over this...
Lloyd’s Warns of Greater Exposures for Marine Underwriters
Dec 12 2001 // Julian James, Lloyd’s Director of Worldwide Markets, speaking at a conference in Paris, warned that marine underwriters should rethink and restructure the way they they write risks, as bigger vessels, more passengers...
From Promotions to Sport Pros, Special Events Insurance Covers it All
Dec 10 2001 // During the playoffs between the Seattle Mariners and the New York Yankees preceding the 2001 World Series, the National-Hole-in-One Association provided insurance coverage for a promotion sponsored by a Seattle-based...
From Promotions to Sport Pros, Special Events Insurance Covers it All
Dec 3 2001 // During the playoffs between the Seattle Mariners and the New York Yankees preceding the 2001 World Series, the National-Hole-in-One Association provided insurance coverage for a promotion sponsored by a Seattle-based...
Nationwide Mutual Insurance Co. Receives Rating on Surplus Note
Nov 30 2001 // Chicago-based Fitch has assigned an “A+” rating to the $400-million surplus note offering by Nationwide Mutual Insurance Company (Nationwide Mutual). Fitch also carries a “AA” rating on the insurer...
AIG’s Greenberg, Lloyd’s Riley Meet for Talks
Nov 29 2001 // Maurice “Hank” Greenberg, the CEO of American International Group and Lloyd’s Chairman Saxon Riley met yesterday at a ceremony marking the opening of a new AIG-backed syndicate at Lloyd’s. They were...
