Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Receives Reduced Collateral Approval in New York
Jul 29 2011 // Lloyd’s received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd’s is approved as a Secure-3 reinsurer, meaning its collateral requirements will be...
House Committee Hears Concerns on Surplus Lines Reform Tax Issue
Jul 28 2011 // Just days after the surplus line reform legislation became effective, federal legislators heard comments from industry insiders on concerns regarding the implementation of provisions in the bill, including how states will...
Lloyd’s America President Watkins Campaigns for Broader Appeal
Jul 27 2011 // Hank Watkins, president of Lloyd’s America Inc., smiles like he has a big secret he wants to spill. The history of Lloyd’s of London is no secret: originated in Edward Lloyd’s coffee shop in London;...
Alaska Joins State Surplus Lines Coalition
Jul 26 2011 // Members of the Non-Admitted Insurance Multi-State Agreement coalition are proud to welcome Alaska to the NIMA group. Insurance Director Linda Hall signed on behalf of Alaska, which collected $109 million in excess and...
More States Join Surplus Lines Tax Sharing Proposal
Jul 22 2011 // Four new members joined a surplus lines premium tax sharing agreement supported by state regulators this week, even while some predict confusion over a competing proposal may lead to the demise of any surplus lines...
Ready or Not, New Surplus Lines Law Is Here
Jul 21 2011 // The implementation deadline for the Nonadmitted and Reinsurance Reform Act has arrived. States have been scrambling over the past year to update surplus lines laws that will conform with NRRA requirements, while agents and...
Texas Gov. Signs Windstorm Bill, Measure Affecting Surplus Lines
Jul 21 2011 // Legislative measures passed during the special session of the 82nd Legislature that impact the insurance industry in Texas have been signed by the governor. On July 19, Gov. Rick Perry signed Senate Bill 1 and Senate Bill...
Ryan Specialty Group Forms MGA Focusing on Renewable Energy Risks
Jul 21 2011 // Ryan Specialty Group, LLC (RSG) introduces PER se (Power.Energy.Risk, ‘securing the environment’) – an MGU specializing in the energy and power sector, with a primary focus on renewable energy risks. PER se...
Good Morning NRRA! Home State Scenarios for Affiliated Groups
Jul 21 2011 // Welcome to the magical mystery tour of Home State taxation and regulation under Nonadmitted Insurance and Reinsurance Reform Act of 2010 (NRRA). The NRRA went live at 12:01 a.m., July 21, 2011, in all time zones. You may...
California Surplus Lines Bill Signed Into Law
Jul 20 2011 // California passed legislation this week that will allow the state to implement provisions in a new federal surplus lines insurance law. The federal Nonadmitted and Reinsurance Reform Act of 2010 (NRRA), which becomes...
South Dakota Is Sixth State to Join Surplus Lines Coalition
Jul 18 2011 // South Dakota has joined the Non-Admitted Insurance Multi-State Agreement (NIMA) coalition. Insurance Director Merle Scheiber signed the agreement on behalf of South Dakota, which collected nearly $29 million in excess and...
Americans at Lloyd’s
Jul 18 2011 // A group of 30 brokers from across the United States and Canada visited Lloyd’s recently as part of an annually organized broker program. The brokers went to London for five days to learn about the Corporation of...
London’s Calling
Jul 18 2011 // Lloyd’s America President Hank Watkins Campaigns for Broader Appeal Hank Watkins, president of Lloyd’s America Inc., smiles like he has a big secret he wants to spill. The history of Lloyd’s of London is...
E&O Insights: E&S Market Requires Attention to Detail
Jul 18 2011 // The excess and surplus lines (E&S) marketplace fulfills a huge role in our industry. The exposures it can entertain are virtually limitless. Without this segment of our industry, many risks might very well have gone...
Best Affirms Lloyd’s of London’s ‘A’ Ratings
Jul 14 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s...
Lloyd’s Market Association Marks 10 Year Anniversary
Jul 14 2011 // Speaking on the tenth anniversary of the incorporation of the Lloyd’s Market Association (LMA), its Chairman, Barnabas Hurst-Bannister, thanked managing agents for their support and pledged that the LMA will not...
Louisiana Joins Surplus Lines Coalition
Jul 13 2011 // Louisiana is now participating in an agreement designed to help states efficiently comply with the requirements of the federal surplus lines regulations that become effective later this month. Insurance Commissioner James...
Texas Enforcements for May Include Nearly $218K in Fines, Restitution
Jul 12 2011 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during May 2011 include six license revocations, two license denials and fines and restitution totaling $217,756. An order imposing...
Best Affirms Lloyd’s Syndicate 1084 Ratings; Withdraws Chaucer Holdings’ Rating
Jul 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. In addition...
Lloyd’s Names Patterson as New Controller of Agencies; Lawrence as Deputy
Jul 5 2011 // Lloyd’s announced that Mark Patterson has joined Lloyd’s as the new Controller of Agencies and David Lawrence has been promoted to Deputy Controller. Patterson joins Lloyd’s from a marine insurance career...
