Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Canada’s Intact Rebrands OneBeacon, All North American Specialty Insurance as Intact
Oct 14 2020 // Intact Financial Corp. is bringing together its Canadian and U.S. specialty insurance operations under a single brand: Intact Insurance Specialty Solutions. The U.S. businesses had previously operated under the OneBeacon...
AmWINS, CRC and Heffernan Create Technology Alliance for Specialty Business
Oct 13 2020 // Wholesaler insurance brokers AmWINS and CRC, along with independent agency Heffernan Insurance Brokers, are the charter members of a new alliance to accelerate technology improvements in the brokerage, wholesale and...
New Jersey’s Specialty Program Group Hires Lamitola as Chief Sales Officer
Oct 13 2020 // Specialty Program Group LLC (SPG), a Summit, N.J.-headquartered operator of specialty insurance brokerages and underwriting facilities, has hired Christopher Lamitola chief sales officer. In this capacity, Lamitola will...
Lloyd’s Reviews Product Design of Insurance Contracts in Response to COVID-19
Oct 12 2020 // Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in response to the coronavirus pandemic, the commercial insurance market said on Monday. Insurers have...
Munich Re Specialty Launches E&O Covearge for Mid-Sized Law Firms
Oct 12 2020 // Munich Re Specialty Insurance has launched a lawyers professional liability (LPL) insurance product, an errors and omissions policy specially designed for mid-size law firms. The LPL policy provides up to $5 million in...
Nexus Adds E&S Market to Professional Liability Offering
Oct 9 2020 // Independent specialty managing general agent Nexus has added a Brit Syndicate to its US roster of carriers, giving it the ability to now underwrite its miscellaneous professional liability product on an excess &...
Digital E&S Insurance Broker Pathpoint Makes Its Debut
Oct 8 2020 // Pathpoint, a new brokerage for excess and surplus lines, is billing itself as an all-digital wholesale brokerage built from the ground up. Pathpoint is licensed across the U.S. and is a coverholder at Lloyd’s of...
London Company Market Grew 10% in 2019
Oct 8 2020 // Premium income for the London company market grew by 10% last year with £21.436 billion of large commercial and wholesale risks underwritten by firms in the City. A new report from the International Underwriting...
Exiting Insurers, Premium Hikes Frustrate Canada’s Struggling Hospitality Industry
Oct 8 2020 // Canadian hospitality businesses, already reeling from the downturn sparked by the coronavirus pandemic, are facing yet another existential threat as insurance companies spike premiums or exit the space, citing losses and...
Texas Surplus Lines Stamping Fee to Decrease in January
Oct 6 2020 // The stamping fee for recording surplus lines insurance policies in Texas will drop from the current rate of 0.15% of gross premium to 0.075% in January. The request by the Surplus Lines Stamping Office of Texas (SLTX) to...
Wholesale Trading Insurance Services Acquires Landmark E&S in California
Oct 5 2020 // Wholesale Trading Insurance Services LLC and its parent company, Jencap, LLC, have agreed to acquire privately held Landmark E&S Insurance Brokers LLC, an Anaheim, Calif. based specialty wholesale brokerage firm. Terms...
CRC Group Acquires Specialty Risk Associates in Louisiana
Oct 1 2020 // CRC Group has acquired Specialty Risk Associates Inc. in Shreveport, La. Terms of the deal were not disclosed. The addition of Specialty Risk expands CRC Group’s binding, transportation binding and personal lines...
White Mountains to Buy 72% Stake in Lloyd’s Insurer Ark for Growth in Hardening Market
Oct 1 2020 // White Mountains Insurance Group, Ltd. announced it has entered into a definitive agreement to invest fresh capital in and to acquire a majority interest in Ark Insurance Holdings Ltd., the parent company of Ark Syndicate...
The State of Surplus Lines Insurance: Busy Solving Risk Puzzles in a Complex World
Sep 30 2020 // Insurance professionals in the surplus lines sector are busy. Busy adapting to a changing business world during COVID-19. Busy adapting to a changing property/casualty market where standard lines insurers are steadfastly...
Lloyd’s Launches Biz Interruption Insurance Policy for SMEs, Led by Tokio Marine Kiln
Sep 30 2020 // Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or...
HDI Global Specialty Names Inter Hannover’s Barenthein as MD of Scandinavian Branch
Sep 30 2020 // HDI Global Specialty SE has appointed Thomas Barenthein as the managing director of its Scandinavian Branch. Barenthein joins the specialty lines insurer from Inter Hannover where he was managing director, Sweden. The...
Texas Records $717.76M in Surplus Lines Premium in August
Sep 30 2020 // The Surplus Lines Stamping Office of Texas (SLTX) recorded $717.76M in Texas surplus lines premium during the month of August. SLTX said the premium recorded year to date through August represents an 11.1% increase over...
Reinsurance Experience in Africa, Asia Sets MGA Tempo Underwriting Apart
Sep 29 2020 // Tom Bailey, executive director of Tempo Underwriting, has a theory about what it takes to build a business based on the reinsurance MGA model. “For a reinsurance MGA to be successful and to have a strong offering,...
American Financial Group Agrees to Sell Run-Off Lloyd’s Insurer Neon to RiverStone
Sep 28 2020 // American Financial Group Inc. announced it has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, comprising the legal entities that own its Lloyd’s of London insurer, Neon, to...
What Ever Happened to Hedge Fund Reinsurers?
Sep 25 2020 // The latest group of reinsurers to emerge in the Bermuda market is starting to look different. Even the name that once described the cohort has changed in the past five years. And at least one member of the group of...
