Latest Excess Surplus Headlines

All the headlines from our Excess Surplus Topic Page, ordered by recency.

R-T Specialty Acquires Chartwell Independent Insurance Brokers

Jul 19 2010 // R-T Specialty LLC, the wholesale brokerage unit of Ryan Specialty Group LLC based in Chicago, has acquired Los Angeles-based Chartwell Independent Insurance Brokers LLC. Chartwell, founded in September 2004 by Ben Beazley,...

New Hampshire Hikes Surplus Lines Taxes

Jul 19 2010 // Surplus lines taxes in New Hampshire have gone up 50 percent, as a law change passed earlier this year went into effect this month. The tax rate now stands at 3 percent of premiums, up from 2 percent. Originally, lawmakers...

New York Weighs Easing Excess Lines Rules

Jul 19 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing next month to explore the possibility of increasing insurance capacity in New York by easing access to non-standard market...

Lloyd’s Welcomes Passage of Dodd-Frank Financial Reform Act

Jul 16 2010 // In a brief statement Lloyd’s of London officially welcomed the successful passage of the Dodd-Frank Act through the US Senate. Sean McGovern, Lloyd’s Director and General Counsel, stated: “We welcome the...

How to Make Agent-Wholesale Relationships Work

Jul 16 2010 // It’s no secret. Insurance is a relationship business. And the agent-wholesale broker relationship is no exception. The continued soft market hasn’t stifled relationships either. Wholesale brokers are still a...

NYMAGIC’s Ratings ‘Unchanged’ Says Best by ProSight Acquisition

Jul 16 2010 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of New York Marine Group and its members and the ICR of...

How Financial Reform Package Affects Insurance, Surplus Lines

Jul 16 2010 // The Senate has passed the Dodd-Frank financial services reform package that will have some impact on the insurance industry and add involvement by the federal government in the state-based insurance regulatory system. The...

Manchester Specialty Launches Home Health Care, Medical Staffing Program

Jul 14 2010 // Manchester Specialty Programs Inc. (MSP) has launched a national program for home health care Providers and Medical Staffing Firms. The program will offer all lines of coverage in partnership with Everest National...

Lloyd’s: ‘Tidal Wave’ of Globalization also Creates New Risk ‘Pathways’

Jul 14 2010 //

New Hampshire Hikes Surplus Lines Taxes

Jul 13 2010 // Surplus lines taxes in New Hampshire have gone up 50 percent, as a law change earlier this year went into effect this month. The tax rate now stands at 3 percent of premiums, up from 2 percent. Originally, lawmakers had...

Idaho Surplus Line Contracts Face New Printing Requirements

Jul 13 2010 // The Independent Insurance Agents and Brokers of Idaho is reminding insurance brokers of new requirements for surplus lines contracts that took effect July 1. H 462 amends existing law relating to unauthorized insurers and...

EPIC Adds Three to Staff

Jul 12 2010 // EPIC (Edgewood Partners Insurance Center), a California-based retail property, casualty and employee benefits insurance brokerage, has added North Bay insurance professionals Wade Gordon and Jennifer Heliotes in the...

Lloyd’s Won’t Insure or Reinsure Petroleum Shipments for Iran

Jul 9 2010 // Lloyd’s of London will not insure or reinsure petroleum shipments going into Iran, the insurance market said on Friday. U.S. President Barack Obama signed into law last week far-reaching new sanctions that aim to...

New York to Weigh Expanding Excess Lines Insurance List

Jul 8 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing on August 20 to explore the possibility of increasing insurance capacity in New York by easing access to unauthorized...

Brokers in London Market Survey ‘More Positive’ about Lloyd’s

Jul 8 2010 // “Brokers are now significantly more positive about conducting business at Lloyd’s than two years ago,” according to a survey of the Lloyd’s market from part of the Gracechurch London Market Study...

Residential Contractor Umbrellas: Tough Sell in Tough Times

Jul 8 2010 // Residential construction is and has been an extremely important class of business for surplus lines insurers and agents. In recent years, however, demand for residential work in this country has dropped dramatically....

Lloyd’s Foresees Further Growth in China from Grant of Direct License

Jul 7 2010 // Lloyd’s managing agents are predicting their businesses will get a big boost from the market being granted a licence to write direct insurance in China [See IJ web site –...

Lloyd’s Marine Underwriters Examine How to Comply with Iran Sanctions

Jul 6 2010 // Underwriters from London’s marine insurance market are looking at how to comply with fresh sanctions being imposed on Iran, a senior Lloyd’s Market Association (LMA) official said on Friday. Iran, the...

Best Affirms Lloyd’s ‘A’ Ratings

Jul 6 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s of London and Lloyd’s Reinsurance Company (China)...

Connecticut Warns Agents over Surplus Lines Placements

Jul 5 2010 // The Connecticut Insurance Department is warning producers against placing coastal homeowners in the surplus lines market if an admitted insurer has offered to renew their policies. Doing so violates Connecticut law, and in...