Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
S&P Affirms Markel’s ‘BBB’ Ratings; Outlook Negative
Aug 26 2010 // Standard & Poor’s Ratings Services has affirmed its ‘BBB’ unsolicited counterparty credit rating on Markel Corp. However, S&P said the “outlook on Markel remains negative.” Credit...
Lloyd’s Warns of Perils Related to Electric Grid Transformer Failure
Aug 25 2010 // A bulletin on the Lloyd’s of London web site (www.lloyds.com) warns that a “major transformer failure can wreak havoc, causing power shortages or outages affecting millions of homes and businesses and costing...
Ex-Stanford Executive Settles with Lloyd’s Over Defense Fees Under D&O
Aug 25 2010 // Laura Holt, the former chief investment officer for accused Ponzi schemer Allen Stanford’s financial firm, has reached a settlement with Lloyd’s of London over her defense fees, a federal judge said...
Argo Group Appoints Fleischer as E&S Segment Chief Underwriting Officer
Aug 20 2010 // The Excess and Surplus Lines segment of Argo Group International Holdings, Ltd. has appointed Michael Fleischer as E&S segment chief underwriting officer. Fleischer will work closely with E&S segment businesses...
Chartis Enhances Coverage for Network Security, Privacy Risks
Aug 18 2010 // Chartis is expanding Specialty Risk Protector, its professional liability and data network security insurance coverage developed by its Executive Liability division, to give customers access to additional protection for...
2010 Education & Training Directory
Aug 16 2010 // Insurance Journal is pleased to publish the 2010 Education and Training Directory. This exclusive resource directory has been designed to help independent agents and brokers find educational and training opportunities to...
E&S Wrap Up: Broker Mergers, Expansions and Start Ups
Aug 12 2010 // As goes the circle of life, so goes the wholesale insurance broker world. Not even the sixth year of a soft market cycle has deterred industry veterans from launching new wholesale businesses or creating larger ones. Many...
East London Experiencing Tenfold Increase in Extreme Rainfall: Lloyd’s
Aug 5 2010 // A new study from Lloyd’s shows that East London has experienced a tenfold increase in extreme daily rainfall since 1960 and warns that the closing of meteorological stations is resulting in incomplete data and...
Monarch E&S Names Perry Senior Commercial Underwriter
Aug 5 2010 // Monarch E&S Insurance Services has hired Debbie Perry as a senior commercial underwriter to work out of its new Arizona office. She will write business in Arizona, Nevada and Hawaii. Perry started in the insurance...
Texas Commissioner Orders $551K in Fines and Restitution in June
Aug 5 2010 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during June 2010 included four license revocations, three license denials, and fines and restitution totaling $551,012. Copies of...
Upside of the Downside: P/C Brokers Serve Distressed Property Market
Aug 2 2010 // The vacant and distressed property segment has been a beacon of light for insurers and brokers as the economy has forced the closure of businesses and halted construction projects, resulting in a number of vacant buildings...
Distressed and Vacant Properties Fill a Void for Insurers
Aug 2 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed in the past couple years as the economy has forced the closure of many...
Globalization: How Systemic Risks Have Altered the Financial World
Aug 2 2010 // When the present Lloyd’s building was completed in 1986, the architecture was called high tech, but inside you would have found that the offices contained no Internet, no e-mails and no World Wide Web. Since the...
OneBeacon Q2 Reflects Sale of Personal Lines, Northeast Storms
Jul 30 2010 // OneBeacon Insurance Group reported second quarter net income of $9 million, operating income of $18 million, a drop in written premiums reflecting the sale of its personal lines business and a jump in combined loss ratio...
OneBeacon Launches New E&S Division; Crosby to Head
Jul 29 2010 // Massachusetts-based OneBeacon Insurance Group said it is launching a new E&S lines business and has appointed Dennis Crosby as president of the business, OneBeacon Excess and Surplus Lines. OneBeacon said the new...
Texas Court Gives New Life to Contractual Liability Exclusion
Jul 27 2010 // Where contractors are involved, one of the most intractable problems for a carrier in negotiating and settling claims are the contract liability issues. How does a carrier identify if a contractual claim is covered? A...
Goldie to Succeed Clarke as Head of PartnerRe Global Specialty Lines
Jul 27 2010 // Bermuda-based PartnerRe Ltd. announced that Charles Goldie has been appointed Head of Specialty Lines, PartnerRe Global, effective September 1, 2010. The Specialty Lines business unit in PartnerRe Global comprises...
Lloyd’s Lauds Buoyant Brazil
Jul 26 2010 // Lloyd’s Chairman Lord Levene, speaking at a recent Lloyd’s seminar in Rio de Janeiro, gave high marks to the successful establishment the Lloyd’s market has made in Brazil, describing it as...
Munich Re to Further Align Specialty Primary Insurance Platform
Jul 26 2010 // Munich Re plans to further align its U.S.-based specialty primary insurance operations to create a more robust specialty insurance platform under the leadership of Doug Elliot, president and chief executive officer of...
Distressed and Vacant Properties Fill a Void for Insurers
Jul 22 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed over the last couple years as the economy has forced the closure of many...
