Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Underwriters Find Success with U.S. Subsidiaries: SNL
Jul 7 2014 // Insurers Hiscox Ltd., Beazley Plc and Catlin Group Ltd. are reaping the benefits of the U.S. market, according to a report from SNL Financial. SNL data shows how the three companies with significant participation in the...
Getting a Grip on Ridesharing Coverage
Jul 7 2014 // Ridesharing services are becoming increasingly popular among consumers looking for a more convenient alternative to taxis or other forms of public transportation, and startup ridesharing companies have been cropping up...
NYRR Received $15M for Cancelled Marathon: Report
Jul 7 2014 // The New York Road Runners (NYRR), a nonprofit group that organizes the annual New York City Marathon, received $15 million in an insurance payout from its insurers, Lloyd’s of London and its syndicates, for the...
Mass. Bill Would Add Liability Coverage to FAIR Plan’s Non-Owner Occupied Dwelling Policy
Jul 1 2014 // The Massachusetts Association of Insurance Agents (MAIA) is pushing a bill, S-465, that would require the Massachusetts Property Insurance Underwriting Association (MPIUA), also known as the Massachusetts FAIR Plan, to...
Philadelphia Launches Commercial Excess Flood Coverage
Jun 26 2014 // Philadelphia Insurance Cos. (PHLY) is now offering commercial excess flood coverage to complement its commercial primary flood product. PHLY’s new excess coverage competitively priced and available at limits higher...
Report: NYRR Received $15M for Cancelled NYC Marathon in 2012
Jun 24 2014 // The New York Road Runners (NYRR), a nonprofit group that organizes the annual New York City Marathon, received $15 million in insurance proceeds from Lloyd’s of London for the cancelled New York City marathon in...
Validus to Buy Western World Insurance for $690M
Jun 23 2014 // Validus Holdings said it has agreed to acquire specialty insurer Western World Insurance Group for $690 million in a deal that leaves the management team and brand of the specialty insurer intact. Under the deal terms,...
OneBeacon’s Sale of Runoff Business to Armour Still in Progress
Jun 23 2014 // OneBeacon Insurance Group Ltd. said it is making progress in the sale of its runoff business to Armour Group Holdings Limited and restated its expectation that the transaction will close in the second half of 2014. The...
ANV Opens Cyber/Media MGU for U.S. Small Business with James River
Jun 20 2014 // ANV Holdings BV, a Dutch specialty insurance business, has opened a U.S. managing general underwriter focused on communications and data security risks for “Main Street” U.S. businesses. Leib Dodell, a veteran...
XL’s Excess Casualty Business Adds Damsky in Northern California
Jun 19 2014 // XL Group’s global excess casualty team has added Joanne Damsky as a senior underwriter in San Francisco. Damsky reports to Matt Stitham, vice president of excess casualty’s Western zone. Damsky has 20 years of...
Florida Private Flood Bill Now Law But Market May Take a While to Develop
Jun 17 2014 // Florida Gov. Rick Scott has signed legislation designed to encourage private insurers to offer flood insurance, but the industry is tamping down expectations that it will result in a viable market in the near future. The...
Ironshore Canada Enters Commercial Property Market for Sector Specific Risks
Jun 17 2014 // Bermuda-based Ironshore Canada has announced its entry into the Commercial Property Market with capacity that enhances its existing suite of specialty products available in the Canadian region. “Ironshore Canada has...
Ryan Specialty Group Announces Landmark Healthcare Partnership With Lloyd’s Underwriters
Jun 17 2014 // Chicago, IL – 6/17/14 – Ryan Specialty Group, LLC (RSG) announces the formation of RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with some of the strongest and most...
Ryan Specialty Group Launches Healthcare Partnership with Lloyd’s Underwriters
Jun 16 2014 // Ryan Specialty Group, LLC (RSG) has formed RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with the healthcare and life science underwriters at Lloyd’s of London....
Beware of Dwindling Excess Umbrella Limits
Jun 16 2014 // With verdicts, judgments and defense costs rising steadily in the United States, the limits of insurance on standard business liability insurance policies may not be high enough to provide sufficient financial protection...
Lloyd’s Tallies Insurable Value of World Cup Teams, Predicts Winner
Jun 13 2014 // Lloyd’s has released research with the Centre for Economics and Business Research (Cebr) that ranks each team in the FIFA World Cup based on the collective insurable value of each country’s players. The total...
Fitch Upgrades Lloyd’s Ratings to ‘AA-‘; Outlook Stable
Jun 11 2014 // Fitch Ratings announced that it has upgraded Lloyd’s of London’s Insurer Financial Strength (IFS) rating to ‘AA-‘ from ‘A+’, and has also upgraded the Society of Lloyd’s Long-term...
Declarations
Jun 2 2014 // Sandy Recovery Program Scams “Our Statewide Sandy Fraud Working Group is pursuing aggressive criminal and civil actions against those who allegedly sought illegal profits in the wake of this national...
XL Adds 4 to East Coast Excess Casualty Teams
May 29 2014 // XL Group has enhanced its excess casualty teams in New York and Atlanta to accommodate its continued growth and sharpened focus on target industries – real estate, hospitality, grocers, restaurants and retail. In New...
Liberty Mutual Names Sr. Underwriting Manager for Excess Casualty in Northeast
May 28 2014 // Keith PooporLiberty Mutual Insurance’s Specialty Excess Casualty operation has appointed Keith Poopor as senior underwriting manager for excess casualty in the Northeast. In his new role, Poopor will lead the...
