Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
A Trailblazer in the Lloyd’s Marketplace Looks Back and Ahead
Oct 31 2019 // When Vicky Carter, Guy Carpenter’s chairman of Global Capital Solutions, International, started working in the insurance industry 40 years ago, she was one of only a handful of women. She reflects here on how the...
Miami Specialty Risk Launches Lloyd’s-Backed Cyber, Technology E&O Facility
Oct 31 2019 // Miami Specialty Risk has launched a new cyber and technology E&O facility available in all 50 states. Backed by Lloyd’s of London, the Miami Specialty Risk facility is comprised of three products: SME Cyber and...
A Quick Introduction to Occurrence vs. Claims-Made Forms
Oct 30 2019 // We received this question recently. I have inherited an account where the primary CGL was written on an occurrence form and the excess liability was written on a claims-made form. Can you help explain why this isn’t...
Cyber Attack on Asia-Pacific Ports Could Cost $110B, Hitting Global Supply Chains
Oct 30 2019 // A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from...
How Specialty Carriers Approach Product Innovation: Research, Repeat and Reuse
Oct 30 2019 // “The industry really does look to specialty writers to be at the forefront of innovation,” says Gail McGiffin. Specialty insurance carriers have a unique “toolset” that helps them grow through...
Marsh JLT Specialty Taps Nevill from Gard (UK) as CEO, UK Marine & Cargo
Oct 28 2019 // Insurance broker Marsh announced the appointment of Louise Nevill as chief executive officer for Marsh JLT Specialty’s UK Marine & Cargo business. Nevill is expected to join the firm early next year and will...
Lloyd’s Insurer AEGIS London Launches Digital Trading Division
Oct 28 2019 // Lloyd’s insurer AEGIS London has launched a digital trading division, dedicated to building and distributing digital products. Tom Squires, AEGIS London’s head of digital trading, will lead the division,...
AIG Expanding at Lloyd’s With New Unit for U.S. High-Net Worth Market
Oct 28 2019 // American International Group Inc. is ramping up its bet on the wealthiest Americans with a new push to offer policies through the Lloyd’s of London marketplace and write as much as $1 billion in gross premiums. AIG...
Meyer Named Interim Executive Director at Texas Surplus Lines Stamping Office
Oct 24 2019 // Don Meyer has been appointed interim executive director at the Surplus Lines Stamping Office of Texas (SLTX). The appointment, approved by the SLTX board of directors, was effective Tuesday, Oct. 22, 2019. Meyer has more...
Reinsurers Maintain Upward Pricing Momentum-But Will It Last?
Oct 24 2019 // Positive pricing momentum—it’s the favorite phrase of many reinsurance executives, who are hoping that the momentum they’ve seen in 2019 will continue during the coming January renewals and beyond. The...
Florida Specialty CEO Disputes State Regulator’s Claims, Says Insurer Not Insolvent
Oct 24 2019 // The head of recently shuttered Florida Specialty Insurance Co. says that claims by Florida’s insurance regulator that the company is insolvent are untrue. The company’s CEO, Susan Patschak, argues...
Iowa’s GuideOne Insurance Names Groenheide Senior VP, Specialty
Oct 22 2019 // GuideOne Insurance in West Des Moines, Iowa, has appointed Mark Groenheide as senior vice president, Specialty. In this role, Groenheide is responsible for growing and managing the business by focusing on niche specialty...
Reinsurers Look at Cyber’s Massive Growth Possibilities-With Caution
Oct 22 2019 // Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and emerging risks such as...
BHSI Enters Australia Surety Market, Hiring Griffiths from Liberty Specialty to Lead Team
Oct 21 2019 // Berkshire Hathaway Specialty Insurance (BHSI) announced it is entering the surety market in Australia and has named Jonathan Griffiths as head of Surety, Australia. BHSI will focus on providing contract surety solutions...
Texas Surplus Lines Premium Up Again
Oct 21 2019 // Texas surplus lines premium reported through the first three quarters of 2019 reached $5.35 billion, a 16.15% increase over the same period in 2018, according to the Surplus Line Stamping Office of Texas...
Insurtechs Discovering the Value of Agents
Oct 21 2019 // Insurtechs have been making headlines for several years with how they are changing the insurance business and the threat they pose to traditional insurance distribution. But as these fledgling insurance technology firms...
California Export List Hearing for Surplus Lines Slated for November
Oct 21 2019 // Parametric earthquake coverage and terrorism coverage are among the potential items on the 2019 Export List hearing being held next month by the California Department of Insurance. Adding a risk or coverage to the export...
Guy Carpenter Names Samengo-Turner as Global Facultative Leader
Oct 18 2019 // Guy Carpenter & Co., a reinsurance broker and subsidiary of Marsh & McLennan Cos., announced the appointment of Dominic Samengo-Turner as global facultative leader. At the same time, insurance broker Marsh has...
London-Based MGA Castel Specialty Enters Construction and Engineering Market
Oct 17 2019 // Castel Specialty, the London-based division of club-style MGA formation platform Castel Underwriting Agencies Ltd., has entered the construction and engineering market, primarily focused on the UK, North America,...
Higher Than Usual Number of Items Could be Added at California Surplus Export List Hearing
Oct 16 2019 // Getting items on California’s surplus lines export list is no easy task. Just ask Ben McKay, executive director of the Surplus Line Association of California. McKay can recall only a few coverages that have been...
