Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
AIG Excess Casualty Division Introduces Online Umbrella Tool
Jan 9 2001 // American International Group division AIG Excess Casualty has introduced AIG e-Excess, a new web-based system providing eligible brokers with the ability to receive quote and bind select commercial umbrella coverages...
Lloyd’s Makes Final Offer To Names
Dec 22 2000 // Lloyd’s made what it described as a “final offer” to discount outstanding liabilities by as much as 70 percent to the remaining “Names” who have not voluntarily agreed to its reconstruction...
Lloyd’s Begins Acceptance of New Broker Applications
Dec 20 2000 // For the first time in more than 300 years Lloyd’s has opened its market to insurance intermediaries around the world. In line with announced plans it began sending applications to over 150 brokers who have expressed...
Lloyd’s Chairman Will Join Aon
Dec 12 2000 // Max Taylor, who will complete three years in office as chairman of Lloyd’s at the end of this month, will be joining Aon Corp. beginning Jan. 2, 2001. Taylor is leaving Lloyd’s after a board decision earlier...
AAMGA Meeting Looks at Changing Marketplace
Dec 7 2000 // The fall meeting of the American Association of Managing General Agents, which recently took place in Carslbad, Calif., focused on the hardening market and privacy concerns As part of the meeting, AAMGA University gave a...
A.M. Best Assesses Excess Capital in U.S. Property/Casualty Industry
Dec 6 2000 // Over the past decade, the U.S. property/casualty insurance industry’s excess capital position has grown dramatically due to slower premium growth, better risk management techniques and significant surplus gains. This...
High Court Decides For Lloyd’s in Jaffray Case, No Fraud Found
Nov 27 2000 // It looks like the Lutine Bell will continue to ring at Lloyd’s for a while longer, as it no doubt did on Nov. 3, when Justice Peter Cresswell of London’s High Court announced his long-awaited decision in the...
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...
