Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Launches Culture Dashboard, Sets Gender Target for Market
Jul 31 2020 // The Lloyd’s re/insurance market has launched a Culture Dashboard and has set a gender target for the market supported by a commitment to achieve parity between men and women over the next decade. These measures mark...
RB Jones Marine Adds Ocean Cargo Product, Hires Great American’s Gambino
Jul 30 2020 // RB Jones Marine, a business unit of H.W. Kaufman Group that focuses on the commercial marine and excess energy space, has launched an Ocean Cargo Stock Throughput Product in partnership with Atain Insurance Companies. RB...
Another Specialty Broker Begins Selling Pandemic Insurance Coverage
Jul 28 2020 // A Newport Beach, Calif.-based specialty broker believes that now is the best time to start offering pandemic insurance. Elite Risk Insurance, which specializes in bespoke risk, is offering Pandemic Outbreak with COVID-19...
Texas Surplus Lines Stamping Office Recommends Fee Decrease
Jul 28 2020 // The Surplus Lines Stamping Office of Texas (SLTX) has filed a recommendation for a decrease in the stamping fee rate with the Texas Department of Insurance. In a letter to Insurance Commissioner Kent Sullivan, SLTX said...
AXA XL Presents New Leadership Team for Americas
Jul 27 2020 // As part of the proposed changes to its insurance operating model announced in April, AXA XL has appointed its new Americas leadership team, reporting to Joe Tocco, chief executive officer for the Americas. The appointments...
AXA XL Announces Leadership Team for UK & Lloyd’s Region
Jul 27 2020 // AXA XL announced the new leadership team for its UK & Lloyd’s region. Effective immediately, the appointments are part of the proposed changes to the operating model of AXA XL’s Insurance business following...
Specialty Broker Offers Business Insurance Coverage for Pandemic, Epidemic Risks
Jul 23 2020 // A Boston-based national wholesale insurance broker is offering what it says is “among the first and most accessible” insurance policies for commercial risks arising from pandemics and epidemics. The policy,...
Markel Specialty Taps Elzer to Lead Newly Launched Risk Solution Services
Jul 23 2020 // Markel Specialty has launched Risk Solution Services, its newly expanded loss control department, and has tapped Allison Elzer to lead the department along with her team. This department will support clients and production...
Lloyd’s Insurer Beazley Reports 1st Half Loss of $13.8M on Mounting COVID-19 Claims
Jul 23 2020 // British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural...
New Lloyd’s Syndicate-in-a-Box Created to Insure Transport of Future COVID-19 Vaccine
Jul 23 2020 // Lloyd’s, the specialist insurance and reinsurance market, announced the creation and in principle approval of its newest “syndicate-in-a-box,” Syndicate 1796,* set up to insure the storage and...
Travelers Reports Q2 Loss on Catastrophes, Investments; Only Modest COVID Impact
Jul 23 2020 // The Travelers Companies reported a net loss of $40 million for the quarter ended June 30, 2020, compared to net income of $557 million in the prior year quarter. The insurer said the difference was primarily due to higher...
Smith to Retire from Chicago’s R-T Specialty
Jul 23 2020 // Scott H. Smith has announced his intention to retire from Chicago-based insurance broker, R-T Specialty LLC, at the end of the year. Smith joined R-T Specialty with the acquisition of his specialty brokerage company, S. H....
Cyber Insurance Agency Coalition Now Offers Excess Coverage for Middle Market
Jul 22 2020 // With new surplus lines capacity backed by Lloyd’s, cyber insurance and security company Coalition is moving beyond offering primary insurance coverage and entering the excess cyber insurance market. The San...
Brit’s Digital Syndicate Ki Taps Hearsum from Marsh JLT Specialty as Managing Director
Jul 22 2020 // Ki, the first fully digital and algorithmically driven Lloyd’s of London syndicate, launched in collaboration with Brit Ltd. and Google Cloud, has announced the appointment of Dan Hearsum as managing director....
Chubb Promotes 2 in Leadership Changes at Westchester and Financial Lines Businesses
Jul 22 2020 // Global insurer Chubb announced that Scott Meyer will succeed retiring Bruce Kessler as senior vice president, Chubb Group and division president of Westchester, the company’s wholesale and excess and surplus lines...
Appeals Court Rejects Florida Hotel’s Coverage Interpretation in Suit Against Insurer
Jul 22 2020 // A recent opinion by the Eleventh Circuit Court of Appeals involving a case against the insurer of a Florida hotel could clarify an issue of sublimits and have a significant impact on how policies are written in the future,...
Indiana Court: Insurers Off the Hook for Covering NCAA Athlete Aid Suit
Jul 21 2020 // An Indiana appeals court has sided with a group of insurers, saying they are not required to provide $25 million in excess coverage for an underlying lawsuit against the National Collegiate Athletic Association (NCAA) over...
CAC Specialty Adds Regueiro as Sr. VP, Marketing Account Exec in Houston
Jul 20 2020 // CAC Specialty has added Robert Regueiro as senior vice president and marketing account executive in its Financial Lines Practice in Houston. Regueiro comes to CAC Specialty with extensive industry expertise and knowledge....
Lloyd’s to Exit U.S. Admitted Market to Focus More on U.S. Surplus Lines, Reinsurance Markets
Jul 20 2020 // Lloyd’s announced it plans to stop accepting admitted market accounts in the United States in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the market...
Lloyd’s Underwriters Sue Indiana Archdiocese Over Liability Insurance Response
Jul 17 2020 // An insurance company is suing the Indianapolis archdiocese, alleging that it failed to disclose allegations of child sexual abuse by a Catholic priest when it applied for liability insurance. Underwriters for Lloyd’s...
