Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Is Global Warming Causing More Frequent, More Powerful Hurricanes?
Jul 21 2010 // A workshop held in Lloyd’s Old Library sought to answer that question, by examining the impact global warming could have on the hurricane season. Lloyd’s cited the fact that “analysis of weather patterns...
President Signs Historic Financial Reform Legislation
Jul 21 2010 // President Barack Obama on Wednesday signed a sweeping overhaul of the financial regulatory system. The “Dodd-Frank Wall Street Reform and Consumer Protection Act,” drafted in response to the recent financial...
Navigators Syndicate 1221 Co-Locates with Lloyd’s in Brazil
Jul 20 2010 // The New York-based Navigators Group announced that its wholly-owned syndicate, Navigators Syndicate 1221 at Lloyd’s of London, is co-locating with Lloyd’s in Rio de Janeiro by appointing a local...
New Specialty Insurance and Weather Brokerage Launched in Minnesota
Jul 20 2010 // Milltown Insurance Group, a new specialty insurance and weather brokerage in Lakeville, Minn., recently was opened for business by Dana D’Arrigo. The firm specializes in niche property and casualty program business...
Contractual Liability Is Just That
Jul 19 2010 // Texas Court: Exclusion Precludes Coverage for Breach of Contract Where contractors are involved, one of the most intractable problems for a carrier in negotiating and settling claims are the contract liability issues. How...
E&O Insights: E&S Market Fraught with Landmines
Jul 19 2010 // Valuable E&S Market Must Be Navigated With Care For probably as long as the concept of insurance has been in existence, so has the excess and surplus (E&S) lines marketplace. It no doubt plays an extremely vital...
As the Wholesale World Turns
Jul 19 2010 // E&S Brokerage Mergers, Expansions and Start Ups, Oh My! 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...
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...
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...
