Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Agents in the Claims Process
Jun 26 2000 // In any service industry, speed in responding to customer requests, customer satisfaction with performance (both in the short run and in the long), and accuracy in statements made are all terribly important. The three are...
Surplus Line Association Sets Premium Record in 1999, LOOKS AHEAD IN 2000
Jun 26 2000 // After processing a record $1,524,697,215 in premiums during 1999, the Surplus Line Association of California (SLA) continued to post an increase in premium volume through May of 2000. The overall numbers imply that the SLA...
P/C Industry’s Net Income Dropsby a Third in First-Quarter 2000
Jun 26 2000 // The U.S. property/casualty industry’s net income after taxes dropped 35.4 percent to $5.8 billion in first-quarter 2000, down from $9 billion in first-quarter 1999, according to Insurance Services Office Inc. (ISO)...
Lloyd’s To Use RMS Service To Monitor Hurricanes
Jun 23 2000 // Lloyd’s will make Menlo Park based Risk Management Solutions’ (RMS’) RiskOnline.com service available to members to track the progress of hurricanes in real time for the rest of the year 2000. Access will...
Reliance Sells Off Three Lines To The Hartford
Jun 19 2000 // First, the company’s chief executive stepped down amid pressure from stockholders. Then, the company’s surety group withdrew its proposal for an initial public offering. Then sprung up reports of the company...
Lloyd’s Provides Electronic Data
Jun 15 2000 // Lloyd’s Business intelligence Centre has produced a new CD-ROM which lists detailed information for all Lloyd’s Syndicates. The CD-ROM is fully indexed by underwriter, managing agent and syndicate number, and...
S&P Reaffirms Lloyd’s A- Rating, Also Ranks Syndicates
Jun 15 2000 // International financial rating agency Standard & Poor’s reaffirmed Lloyd’s overall A- insurer financial strength rating, and also ranked 95 of the 123 Lloyd’s syndicates, giving 11 of them it’s...
P/C Industry’s Net Income Drops by a Third in First Quarter 2000
Jun 14 2000 // The U.S. property/casualty industry’s net income after taxes dropped 35.4 percent to $5.8 billion in first-quarter 2000, down from $9 billion in first-quarter 1999, according to Insurance Services Office, Inc. (ISO)...
iwix.net Receives $5 Million in VC Funding
Jun 12 2000 // iwix.net, a specialty insurance portal, has secured $5 million in first round venture capital funding. All of the funding is coming from one source, Quester. Quester’s investment strategy is to back businesses that...
BIG CHANGES FOR LLOYD’S
Jun 12 2000 // Last October, Lloyd’s produced a working document entitled “Developing Broker Relationships,” which proposed sweeping changes in the accreditation and regulation of Lloyd’s brokers. Now the results...
Lloyd’s Survey Reveals Lack of E-Commerce Coverage
Jun 8 2000 // A Lloyd’s study based on a survey at the recent annual conference of the Association of Risk Managers in Birmingham England, has revealed that 75 percent of the companies surveyed had no coverage against damages...
Lloyd’s Taylor Warns Insurers And Health Care Providers
Jun 6 2000 // Lloyd’s Chairman Max Taylor in a speech at the annual conference of the Physician Insurer Association of America (PIAA) said that the crisis in health coverage was becoming more serious, and that insurers and health...
Lloyd’s of London Presents Strong Case
Jun 5 2000 // For over two months, Lloyd’s of London has been presenting evidence in the Jaffray case before Mr. Justice Cresswell in London defending itself against allegations of fraud made by over 200 “Names”....
Lloyd’s ‘A’ Rating Affirmed/Outlook Negative
May 29 2000 // Lloyd’s “A” rating and financial size category of XV were affirmed by A.M. Best. However, the rating continues to carry a negative outlook. While the rating is applicable to the business written by 122...
AAMGA Members focus on Education, Honoring Industry Leaders
May 29 2000 // Attendees at this year’s Association of Managing General Agents (AAMGA) Annual Meeting in Orlando were treated to four days full of networking and educational opportunities-not to mention illuminating speakers and...
Lloyd’s Presents Strong Defense Against Names in Jaffray Case
May 29 2000 // For the past two months, Lloyd’s has been presenting evidence in the Jaffray case before Mr. Justice Cresswell in London, defending itself against allegations of fraud made by more than 200 “Names” (IJ...
Lloyd’s To Adopt New Standards For Brokers – Opening London Market
May 25 2000 // Last October Lloyd’s produced a working document entitled “Developing Broker Relationships,” which proposed sweeping changes in the accreditation and regulation of Lloyd’s brokers. Now the results...
Lloyd’s Won’t Explore Swissair Crash Site
May 24 2000 // Following negative reaction from family members and local authorities, Lloyd’s reversed its decision to explore the site of the 1998 Swissair crash off Nova Scotia. In a brief announcement Lloyd’s apologized...
Lloyd’s To Search Air Crash Site
May 22 2000 // Lloyd’s of London has obtained permission from the Canadian government to search the seabed at the site of the Swissair MD-11 that crashed off the coast of Nova Scotia in September 1998, killing all 229 people...
Lloyd’s Amlin Plc Posts Profit For 1999
May 19 2000 // Not all Lloyd’s underwriters are losing money. Amlin Plc, reporting on an annual basis for the first time, posted a 1999 pre-tax profit of £18.3 million ($27 million). Amlin owns 57.8 percent of three Lloyd’s...
