Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s/IUA Choose ‘Xchanging’ To Streamline London Insurance Market
Nov 27 2000 // On Oct. 24, Lloyd’s and the International Underwriting Association (IUA) announced that they had selected Xchanging, an Internet and information technology specialist, as a partner in a joint venture to develop and...
Lloyd’s Names James To Head New Worldwide Markets Division
Nov 23 2000 // Lloyd’s has named Julian T. James, currently managing director of its North American Unit, to assume the new position of director for Worldwide Markets, a division which will unite Lloyd’s operations in the...
Lloyd’s, IUA, London Brokers Agree on Reforms
Nov 21 2000 // After a seven-month dialogue Lloyd’s, the International Underwriting Association and the Lloyd’s Insurance Brokers’ Committee have reached agreement on basic reforms of the way business is to be conducted...
The Evolving Excess & Surplus Lines Market
Nov 13 2000 // The excess and surplus lines, or non-admitted, market is comprised of property & casualty companies that provide insurance that is unavailable to businesses in the standard, or admitted, market due to the unique...
Surplus Lines Market Shows Signs of Shaping Up
Nov 13 2000 // When retail agents or brokers cannot find coverage for a unique or high-risk insured with a company in the standard or admitted market, they often turn to the surplus lines—or excess and surplus (E&S)—market for...
S&P Affirms Lloyd’s A+ Rating Following Court Ruling
Nov 6 2000 // Standard & Poor’s has affirmed its single A+ insurer financial strength rating on U.K.-based Lloyd’s Insurance Market, reflecting a judgement made by the U.K. High Court in favor of Lloyd’s. The...
DECISION SOON IN LLOYD’S CASE
Nov 6 2000 // The judge’s decision in the Jaffray case against Lloyd’s is expected within the next two weeks. The suit by some 200 “Names” seeks damages for fraud related to their recruitment as investors by...
Lloyd’s Wins Names Battle
Nov 3 2000 // Lloyd’s of London has won its multi-million dollar legal battle with 200 ‘Names’ – investors who pledged their financial backing. In the case, the investors claimed they signed up with Lloyd’s...
CGNU To Sell Lloyd’s Agency to Berkshire
Nov 1 2000 // CGNU announced that it intends to exit the Lloyd’s market, and is selling its Marlborough Underwriting Agency to the Berkshire Hathaway Group for an undisclosed amount. Berkshire subsidiary GeneralCologne Re already...
Decision in Lloyd’s Lawsuit Expected
Oct 30 2000 // The judge’s decision in the Jaffray case against Lloyd’s is expected within the next two weeks. The suit by some 200 “Names” seeks damages for fraud related to their recruitment as investors by...
Lloyd’s-IUA Name Xchanging As Partner For Data Processing
Oct 24 2000 // Lloyd’s and the International Underwriting Association (IUA) jointly announced the selection of information technology specialist Xchanging as a partner in a joint venture which will develop and operate a unified...
Surplus Inc. Acquires CIA’s Commercial Book
Oct 23 2000 // Surplus Inc., a Spring, Tex.-based MGA, has acquired the commercial book of business from Combined Independent Agencies (CIA). The book includes property, casualty, package and commercial auto. CIA’s workers’...
MARINE AGENT BEACHED
Oct 9 2000 // A Kentucky insurance agent and agency have agreed to a $50,000 penalty for selling Texans millions of dollars worth of boat insurance without the special license required for placing business with Lloyd’s of London...
CNA E&S Aligns With ICSA.net, Sherwood Ins. Services
Oct 2 2000 // CNA E&S, a business division of CNA, has aligned with ICSA.net, an Internet security assurance business, and broker Sherwood Insurance Services. Through their alliance CNA E&S, Sherwood and ICSA.net will promote...
Lloyd’s ‘A+’ Affirmed
Oct 2 2000 // The “A+” insurer financial strength rating (FSR) on U.K.-based Lloyd’s insurance market was affirmed by Standard & Poor’s (S&P), which indicated that, despite poor results currently...
Credit General Signs Cut-Through, Resumes Writing
Oct 2 2000 // Credit General Insurance Company and Credit General Indemnity Company are back on track after a brief period in which the companies stopped writing new business. Henry C. Sibley, vice president of underwriting, sent a...
Association’s Hard Work Pays Off with Success of NAPSLO 2000
Oct 2 2000 // “There are leaders all over this room—it doesn’t just have to be in politics, because your business requires great leadership,” Former Senator Robert Dole told NAPSLO attendees. “And I think that...
Hiscox 1st Half Profits Lowered by Lloyd’s Losses
Sep 29 2000 // Hiscox Plc, which does business independently and in the Lloyd’s market as syndicate 33, saw 1st half profits drop to £100,000 ($146,000) from £1.4 million ($2.04 million) in the same period last year as a result...
Property/Casualty Insurers Watch Profits Fly Out the Window
Sep 25 2000 // ISO, NAII Report First-Half Net Income for Insurers Plunged; Fitch Adopts Negative P/C Outlook It hasn’t gone to hell in a handbasket yet, but the outlook for the property and casualty industry is far from good. On...
Report Lloyd’s/IUA Forming Joint Venture With Tech Firm
Sep 25 2000 // A report in the Times of London indicates that the joint Lloyd’s/ IUA (International Underwriting Association) Forum, set up last year to explore ways of harmonizing procedures between the two groups and making the...
