Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
E&S Brokers Look for Rays of Light at the End of the Tunnel
Sep 7 2009 // Flat Economy, Persistent Soft Markets Have Forced Leaner Business Models, More Automation A poor economy, natural catastrophes and an extended soft market have all combined to nip growth in the excess and surplus lines...
New York Eases Rules for Placing Difficult Risks in Excess Market
Sep 3 2009 // In a move widely supported by industry advocates, the New York State Insurance Department has approved new rules that would make it quicker and easier for to write some categories of higher-risk insurance that are...
Specialty P/C Insurer Ironshore Raises $300 Million
Aug 31 2009 // Property/casualty insurer Ironshore Inc. in Bermuda has completed an equity capital deal that will raise $300 million to support the continued expansion of Ironshore’s specialty insurance business. Lead investors in...
Lloyd’s Explores Terrorism/Internet Threats
Aug 27 2009 // Politico-social trends are rarely static; they evolve over time. Terrorism is no exception. An article on the Lloyd’s of London web site (www.lloyds.com) notes that “today’s extremists are just as intent...
Best Affirms Lloyd’s Syndicate 1084 (Chaucer) ‘A’ Ratings
Aug 27 2009 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A ‘(Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. Best also affirmed the ICR of...
Piracy Remains a Concern Says Lloyd’s
Aug 24 2009 // The news media sometimes neglects important events in an effort to avoid overexposure. But when a new twist occurs, the media returns to the subject with a vengeance. The latest example is the extensive coverage given to...
Best Affirms Ratings of Lloyd’s Syndicate 510, Kiln Group
Aug 21 2009 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 510, which is managed by R.J. Kiln & Co...
Surplus Lines Group Contests Montana’s Right to Stamping Fees
Aug 21 2009 // The surplus lines industry is taking issue with the Montana Commissioner of Securities and Insurance over its decision to take over the collection of stamping fees from the Surplus Lines Stamping Office, previously part of...
Watkins Appointed as New President of Lloyd’s North America
Aug 20 2009 // Lloyd’s has selected Hank Watkins as the new President for North America. He takes over from LoriAnn Lowery who resigned from the position last June after a little more than a year on the job [See IJ web site –...
Specialty Risk Associates Is Expanding Management Team
Aug 20 2009 // Louisiana-based insurance wholesaler, Specialty Risk Associates Inc., announced several changes to its management team that will become effective Sept. 1. Thomas Garland was named chief operating officer. Garland joined...
Lloyd’s Assesses Impact of Heat Waves and Wildfires
Aug 19 2009 // The recent series of wildfires that ravaged parts of Spain, France, Greece and Italy in late July may well be symptomatic of the warming trend in global weather patterns according to experts at Lloyd’s of...
Brownyard Adds Equipment Breakdown Coverage for Specialty Programs
Aug 19 2009 // The Brownyard Group, based in Bay Shore, N.Y., is offering Equipment Breakdown coverage for its security guard (Brownguard), pest control operators (PCOpro) and cosmetic manufacturers (Foundation) programs. Coverage is...
Michigan Halts Novus Surplus Lines Insurance; Owner Defends Company
Aug 18 2009 // Michigan regulatory officials have charged an insurer and its managing general agency with fraud in the selling of surplus lines insurance. But the owner of the company that is is runoff says it did nothing wrong. The...
Michigan Halts Novus Surplus Lines Sales; Owner Defends Insurer
Aug 18 2009 // Michigan regulatory officials have charged an insurer and its managing general agency with fraud in the selling of surplus lines insurance. But the owner says his company that is in runoff has done nothing wrong. The...
Lloyd’s Announces First Live Message Sent across Exchange
Aug 17 2009 // Lloyd’s has announced that Miller, a Lloyd’s broker, and Aspen Re were the first to send a message – an energy quotation request, using ACORD data standards – across its Lloyd’s Exchange...
Texas’ Specialty Insurance Managers Names New Vice Presidents
Aug 13 2009 // Texas-based Specialty Insurance Managers Inc. recently appointed several new vice presidents. Karen Ashton was named vice president of the Arlington, Texas, branch. Bonnie Stalkfleet is now vice president of the Granbury...
The Hartford to Return $48 Million in Florida Workers’ Comp Profits
Aug 12 2009 // Florida officials said that Hartford Financial Services Group will issue refunds or credits totaling $48.2 million to Florida businesses for excess profits the insurer earned on policies written from 2004 through 2006. The...
Delos and Avoca Launch Underwriting Partnership
Aug 10 2009 // Delos Insurance Group and Avoca Insurance Holdings have launched a joint venture focused on underwriting excess and specialty lines. The newly formed, Boston-based underwriting management company will be known as Naxos...
2nd ‘Stanford’ Suit Targets Willis; Terrorist Bombs Kill 9 in Indonesia; Insurance Fraud on the Rise in UK; Lloyd’s ‘Fli
Aug 3 2009 // Willis has been named in a second lawsuit stemming from its relation with indicted financier Allen Stanford. A Venezuelan investor, Reinaldo Ranni, filed a class action in U.S. federal court in Miami on July 17, accusing...
New Hampshire Judge Rejects State’s Claim on Malpractice Fund
Jul 31 2009 // A New Hampshire judge has rejected the state’s claim on a $110 million surplus in a fund that underwrites malpractice insurance. The state counted on $65 million of the money to help balance the budget in the fiscal...
