Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Why Small Mutual P/C Insurers, Insurtechs May Need Each Other: A.M. Best
Sep 19 2018 // Technology-oriented insurance startups and established small mutual property/casualty insurers may find they are better off partnering than competing. Mutual property/casualty insurance companies continue to face...
Lloyd’s Market Association & Lloyd’s Issue Policy Documents in Preparation for Brexit
Sep 19 2018 // A new suite of policy documentation, to support the underwriting of risks from the European Economic Area by Lloyd’s Brussels, has been published. The new documents were prepared by the Lloyd’s Market...
Tower Hill Specialty Expands Homeowners Products into Alabama
Sep 18 2018 // Tower Hill Specialty insurance products for homeowners are now available in Alabama, as the Ohio-based company expands its regional focus in the Southeast. Specializing in personal lines property products, Tower Hill...
New York’s Ethos Specialty Insurance Services Appoints Cline as President, CEO
Sep 18 2018 // Ethos Specialty Insurance Services (Ethos), Ascot Group’s New York-based MGU platform, has appointed Rory Cline as president and CEO. Cline takes the helm from his current role as chief underwriting officer, having...
Berkshire Hathaway Specialty Opens Munich Office; Names Key Underwriters
Sep 18 2018 // Berkshire Hathaway Specialty Insurance (BHSI) has opened a new office in Munich, Germany, the latest advance in BHSI’s expansion of its global footprint. The insurer has named two key underwriters for the office. The...
More Super Regional P/C Carriers Ready to Dive Into Specialty Lines
Sep 17 2018 // There’s Opportunity in Unusual and Emerging Risks, Sullivan Tells Carriers The current economic and business wave presents property/casualty insurance carriers with opportunities to expand or differentiate themselves...
What Is an NRRA Exempt Commercial Purchaser?
Sep 17 2018 // Some larger commercial insurance brokers appear to be uncertain about how the Exempt Commercial Purchaser (ECP) feature of the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA), part of the Dodd Frank Act, effective...
Lloyd’s Modernization Plans Move Full-Steam Ahead
Sep 17 2018 // From Electronic Placing to Artificial Intelligence: Lloyd’s America CEO Earlier this year, this reporter was walking on Lime Street, the home of Lloyd’s of London, dodging raindrops. She observed a broker,...
Managing the Retail Agent’s Risk in Surplus Lines
Sep 17 2018 // While it is common for retail agents to turn to E&S wholesalers for help, there are several reasons they should carefully consider which wholesalerto call upon and how they submit business, according to Bobbie Duke,...
How New Business Is Creating a New Wholesaler-Retailer Relationship
Sep 17 2018 // An influx of new business is presenting surplus lines wholesalers and their retail partners with new opportunities to work together even as other forces are changing how they work together. The surplus lines insurance...
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,...
