Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Hit a Home Run with Wholesalers
Jul 5 2010 // How to Make Wholesale-Agent Partnerships Work 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...
Tower Completes Acquisition of OneBeacon’s Personal Lines Business
Jul 1 2010 // Tower Group Inc. has completed its acquisition of the personal lines business of OneBeacon Insurance Group for $167 million. The completed transaction includes the acquisition by Towers of Massachusetts Homeland Insurance...
Best Affirms Ratings of Markel’s Lloyd’s Syndicate 3000
Jul 1 2010 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 3000, both with stable outlooks. The ratings reflect...
Minnesota Changes Surplus Lines Stamping Fee
Jun 30 2010 // The Minnesota Department of Commerce announced that a stamping fee of 0.0008 on all premium bearing surplus line placements made on or after Jan. 1, 2011 will need to be paid by the insured to the surplus lines...
Surplus Line Association of Wash. Administers Flood Insurance Program
Jun 29 2010 // Washington State Insurance Commissioner Mike Kreidler and more than two dozen insurance companies have launched a new program to help Green River Valley businesses struggling to find flood coverage. The “Washington...
Zurich Increases Capacity, Expands Appetite for Specialty E&O Business
Jun 29 2010 // Zurich North America Commercial has raised the available capacity for its specialty errors & omissions business from $10 million to $25 million and removed revenue restrictions for primary business. In addition, Zurich...
Monarch E&S Wins Marketing Award
Jun 25 2010 // The American Association of Managing General Agents (AAMGA) has awarded Monarch E&S Insurance Services with the 2010 Advertising, Marketing and Community Service Awards. Monarch E&S Insurance Services was awarded...
Lloyd’s Launches ‘Science of Risk’ Prize Competition
Jun 24 2010 // Lloyd’s has announced its first ever Science of Risk prize. The initiative, aimed at “risk-related research from PhD students or Post-Doctoral research staff,” is focused on studies in the following...
Avoca Insurance Holdings Launches Specialty Programs Subsidiary
Jun 24 2010 // Avoca Insurance Holdings has established Manchester Specialty Programs Inc.(MSP) as a national programs platform based in New Hampshire. The company will focus on providing a comprehensive range of coverage to specialty...
Chubb’s New Lloyd’s Syndicate Inks First New Business in Expansion Plan
Jun 21 2010 // Chubb Syndicate 1882 at Lloyd’s has lost no time in concluding its first piece of business, a marine hull risk. The syndicate was formally approved at the beginning of June (See IJ web site –...
People
Jun 21 2010 // WFL, an insurance and risk services agency headquartered in St. Louis, Mo., has added three new executives – Terry Reams, Mark Latini and Beth Grellner – to its top management team. As chief operating officer,...
People
Jun 21 2010 // David H. Long has been named president of Liberty Mutual Group. Long, who has been with Liberty Mutual for 25 years, is currently executive vice president, Liberty Mutual Group, and president of Liberty International. Long...
Florida Market Still Frustrates Surplus Brokers
Jun 21 2010 // It has been quiet on the oceanfront in Florida in terms of hurricanes and tropical storms the past few years. However, the low catastrophe frequency has contributed to an extremely soft and competitive insurance market for...
Umbrellas for Residential Contractors in Uncertain Times
Jun 21 2010 // Why Commercial Umbrella Coverage Could Save the Day 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...
Neace Lukens Launches New Life Sciences Specialty Insurance Service
Jun 18 2010 // Neace Lukens, a national full-service private insurance broker, has expanded its insurance product lines to include a new specialty insurance service for companies in the life sciences industry. This new division will...
Avoca Insurance Forms Manchester Specialty Programs
Jun 18 2010 // Avoca Insurance Holdings has established Manchester Specialty Programs Inc. (MSP) as a national programs platform. William D. Thompson has been named president and CEO of the organization. Thompson is directly responsible...
Lloyd’s Team to Assess Chile Earthquake
Jun 18 2010 // Lloyd’s has confirmed that a team has been sent to Chile to “help the market better understand the impact of February’s earthquake and assist in ensuring the speedy payment of valid claims.” The...
Connecticut Warns Agents over Surplus Lines Placements
Jun 18 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 state law. In a...
Jardine Named as New Deputy Chairman by Council of Lloyd’s
Jun 16 2010 // Lloyd’s announced that Paul Jardine from Catlin Syndicate Limited will become a Deputy Chairman of The Council of Lloyd’s following Ewen Gilmour’s retirement from the position earlier this month. Jardine,...
America First Insurance Appoints Jimenez to Specialty Lines AVP
Jun 15 2010 // America First Insurance, a Liberty Mutual Agency Markets regional company based in Richardson, Texas, has appointed Ray Jimenez to assistant vice president, Specialty Lines. In this position, Jimenez will be responsible...
