Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
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...
The Class of 2020: Capital Raising for Existing Firms or Insurance Startups?
Jul 16 2020 // Even though accelerating hard market conditions may seem ideal for a growing crop of professionals with designs on starting up insurance and reinsurance companies, garnering AM Best ratings still won’t be easy for...
Liberty Specialty Names Rieger Head of Casualty Germany, Succeeding Offenhau
Jul 15 2020 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Rainer Rieger as head of Casualty Germany. Rieger, who has worked with the company since 2015, is replacing Detlef Offenhau who recently...
Aon Appoints Tunnicliffe as UK Chairman for Global & Specialty Business
Jul 14 2020 // Insurance broker Aon plc announces the appointment of Andrew Tunnicliffe as UK chairman, Global & Specialty, part of its Commercial Risk Solutions, Health Solutions and Affinity business. He will take up the new role...
U.S. Pressures Insurers, Certifiers, Shippers in Enforcing Tougher Sanctions on Venezuela
Jul 14 2020 // Several companies that certify vessels are seaworthy and ship insurers have withdrawn services to tankers involved in the Venezuelan oil trade as the United States targets the maritime industry to tighten sanctions on the...
Lloyd’s to Exit U.S. Admitted Market, Focus on U.S. Surplus Lines, Reinsurance
Jul 10 2020 // Lloyd’s announced it plans to stop accepting admitted market accounts in the U.S. in a year and focus on the U.S. reinsurance and excess and surplus (E&S) insurance market, where it is the market leader. As part...
Munich Re Specialty Releases MPL Policy for Non-Specialist Businesses
Jul 10 2020 // Munich Re Specialty Insurance (MRSI) has released a miscellaneous professional liability product for non-specialist, commercial businesses. Miscellaneous professional liability (MPL) coverage provides liability and defense...
Profile: MGA Nexus Group Sets Sights on U.S. Growth, Even During COVID-19 Crisis
Jul 9 2020 // Nexus Group, the UK-based managing general agent, is looking to the U.S. for growth opportunities, despite the raging COVID-19 crisis. “With the political landscape and Brexit, it was an obvious choice for us to...
Kovrr Develops Open Framework for Measuring Catastrophic Cyber Risk
Jul 9 2020 // Kovrr, a cyber risk modeling company, announced it has developed an easy-to-use open framework to measure and understand catastrophic cyber risk exposure. The CRA-Zones™ framework defines the minimal elements needed to...
Specialty Program Group Acquires Tennessee-Based Avant
Jul 8 2020 // Specialty Program Group LLC (SPG), an operator of specialty insurance brokerages and underwriting facilities, has acquired Avant, LLC. (Avant), a transportation program administrator and wholesale brokerage firm, with...
Specialty Program Group Acquires Assets of Beacon Hill Associates
Jul 8 2020 // Specialty Program Group LLC (SPG), an operator of specialty insurance brokerages and underwriting facilities, has acquired the assets of Beacon Hill Associates Inc. (BHA), an environmental wholesale brokerage firm,...
Lloyd’s Market Assn. Launches Delegated Authority Group to Set Future Business Model
Jul 8 2020 // The Lloyd’s Market Association (LMA) has launched a Delegated Authority Committee (DAC) to inform and guide the evolution of this important aspect of Lloyd’s underwriting, distribution and claims. Delegated...
Lloyd’s Innovation Accelerator Focuses on COVID-19 Market Response with 3 Insurtechs
Jul 8 2020 // Lloyd’s has started work with three insurtech startups to help the market respond to the COVID-19 pandemic. As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has expanded the...
AXA XL Names McGovern as CEO UK & Lloyd’s Market
Jul 8 2020 // AXA XL announced that Sean McGovern has been appointed as CEO UK & Lloyd’s market, subject to regulatory approval. McGovern had been performing the role on an interim basis for some months and has now been...
Rice to Retire from Ryan Specialty Group at Year-End
Jul 8 2020 // Mike Rice Sr. will retire from Chicago-based Ryan Specialty Group LLC (RSG) at the end of the year, the company said. Rice joined RSG in 2010 as chairman and CEO of RSG Underwriting Managers LLC (RSGUM) and will have...
American Companies Facing Pressure to Reveal Data on Diversity of Employees
Jul 6 2020 // American companies are coming under increasing pressure from investors to publicly disclose information about diversity among employees in the wake of nationwide protests against racial discrimination. Many executives have...
Reported Surplus Lines Premium Again Sets Record in Texas
Jul 6 2020 // The amount of surplus lines premium reported in Texas continued its upward swing in May, coming in at nearly $100 million higher than reported in the same month last year, according to the Surplus Lines Stamping Office of...
How to Prepare for the Next ‘Black-Swan’ Event? Lloyd’s Has Some Suggestions.
Jul 2 2020 // Lloyd’s of London is proposing solutions that could provide customers with greater protection against a future wave of the COVID-19 virus or future systemic – “black swan” – catastrophes, such as...
Brit Global Specialty USA Transfers Renewal Rights for Cargo Business to Falvey Cargo
Jun 29 2020 // Brit Global Specialty USA will transfer the renewal rights for its cargo business to Falvey Cargo Underwriting, effective July 2. As part of the deal, Will Frohne and Yasu Saegusa will move from Brit to Falvey Cargo as...
