Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Congress Should Amend Definition of Private Flood
Sep 17 2018 // Historically, the surplus lines market has served as a supplement to the National Flood Insurance Program (NFIP) and standard market, but the passage of the Biggert-Waters Flood Insurance Reform Act of 2012 caused some...
Partner Re Celebrates Its First 25 Years– When Everything and Nothing Has Changed
Sep 17 2018 // During PartnerRe’s first 25 years as a reinsurer, everything has changed and nothing has changed. From its roots as a pure catastrophe player, PartnerRe has dramatically evolved–or diversified–over the...
Vindati Platform Looks to ‘Delight’ Brokers Seeking Specialty Markets for Small-Medium Businesses
Sep 17 2018 // There will soon be a new specialty insurance site that promises to quicken and simplify transactions for U.S. insurance brokers who are serving small and medium sized businesses. Vindati, a New York-based managing general...
People
Sep 17 2018 // Sam Siddons and Craig Morelos have joined the property/casualty practice at EPIC Insurance Brokers and Consultants as principals. Siddons will be responsible for new business development, the design, placement and...
Rhode Island’s ProTucket Launches First Cell with $35M Surplus Funding
Sep 17 2018 // Pro US Holdings, the sole shareholder and immediate parent of ProTucket Insurance Company — the insurance carrier established in Rhode Island to provide run-off transfer solutions in the U.S. — has contributed...
Hanover Insurance to Sell Specialty Unit Chaucer to China Re for $950 Million
Sep 13 2018 // The Hanover Insurance Group has agreed to sell Chaucer, its Lloyd’s-focused international specialty business, to China Reinsurance Group Corp. for total proceeds of $950 million. The Hanover had indicated in March it...
Rhode Island’s ProTucket Launches First Cell with $35M Surplus Funding
Sep 10 2018 // Pro US Holdings, the sole shareholder and immediate parent of ProTucket Insurance Company – the insurance carrier established in Rhode Island to provide run-off transfer solutions in the U.S. – has contributed...
Expect a Very Different Looking Lloyd’s Workspace In a Few Years: Beale
Sep 10 2018 // Lloyd’s of London’s historic base on Lime Street is heading for a radical makeover, with more focus on shared, collaborative spaces along the lines of a WeWork Cos. office, according to its outgoing...
Former QBE Group CEO Neal Appointed as Lloyd’s CEO, Succeeding Beale
Sep 7 2018 // John Neal has been appointed as the chief executive officer of Lloyd’s following a meeting of the Council of Lloyd’s, where his appointment as successor to Inga Beale was approved unanimously. Neal will take up...
Connecticut’s Business Risk Partners Appoints Lacey as Principal Underwriter
Sep 7 2018 // Business Risk Partners (BRP), a Windsor, Conn.-based specialty insurance program administrator, has appointed Brad Lacey as a principal underwriter focused on management and professional liability products. Simultaneously,...
Concord Specialty Risk Hires Paul in New York
Sep 6 2018 // Concord Specialty Risk has hired Rustin I. Paul Esq. as executive vice president of Reps and Warranty Insurance Underwriting, where he will have a leading role in the future of the firm’s Reps and Warranty Insurance...
Staffpak Announces New Carrier Partner For Staffing Agency and PEO Programs
Sep 6 2018 // Dallas, TX, September 6, 2018— U.S. Risk’s StaffPak program has partnered with program-driven Markel Specialty to offer property and casualty coverage to the staffing and PEO industries. Markel will provide...
Lloyd’s Commercial Officer Vandendael to Exit Lloyd’s to Take Executive Role at Everest
Aug 31 2018 // Lloyd’s announced that its chief commercial officer, Vincent Vandendael, has decided to leave the corporation after almost six years. He will be moving to Everest Insurance as CEO of International Insurance in early...
Houston’s Myron Steves Adds Tilford to Lead Claims Unit
Aug 30 2018 // Amanda Tilford has joined Houston-based managing general agency, Myron Steves, to lead the company’s Claims operations. She will be responsible for operating the claims processing unit, including the timely and...
Marsh’s Parks Joins The Hartford’s Specialty Commercial Sales Unit
Aug 30 2018 // After 30 years at brokerage Marsh, George Parks is joining The Hartford to become head of sales and field operations for national accounts in the insurer’s Specialty Commercial business. Parks will oversee national...
Travelers’ Chapman to Lead IAT’s New Surety Unit After IFIC Acquisition
Aug 29 2018 // IAT Insurance Group has hired Ken Chapman as executive vice president, Surety, to lead IAT’s new surety business following IAT’s acquisition of IFIC Surety Group that is expected to close in the third...
Lloyd’s Provides Insurance for Cryptocurrency Storage
Aug 28 2018 // Kingdom Trust, a company that stores digital currency for investors, has secured insurance coverage through Lloyd’s of London to protect against theft and destruction of those assets, the company said on Tuesday. The...
Lloyd’s Market Assn. Appoints Navigators’ Cameron as CEO, Succeeding Gittings
Aug 28 2018 // Sheila Cameron, currently head of International Operations at Navigators Underwriting Ltd., is to become the next CEO of the Lloyd’s Market Association (LMA), following the announcement that David Gittings will be...
Argo Names Duncan to Lead U.S. Specialty Programs
Aug 27 2018 // Specialty insurer Argo Group has appointed Marsh Duncan to serve as senior vice president U.S. Specialty Programs, effective immediately. In this role, Duncan will lead the company’s strategy to offer customized...
Venture Capital Firm, Beat Capital, to Merge with Insurer Investment Vehicle Paraline UK
Aug 23 2018 // Venture capital firm Beat Capital Partners and insurance investment vehicle Paraline UK announced they plan to merge – in a move that is designed “to enhance and further build Beat’s platform to support...
