Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
St. Paul Travelers Realigns Business Units into New Segments
Aug 25 2006 // The St. Paul Travelers Companies, Inc. said will realign its three Commercial, Specialty and Personal lines segments. The Commercial and Specialty segments will be realigned into two new segments: the Business Insurance...
Gray-Stone & Co. Acquires Cascade General Agency/ Amstar E&S
Aug 22 2006 // Gray-Stone & Co, Thousand Oaks, Calif., has acquired the accounts of Cascade General Agency Inc./Amstar E&S in Moorpark, Calif. The Moorpark office has closed. A number of the former employees are now working at...
New Lloyd’s Syndicate to Provide Amateur Sports Coverage
Aug 16 2006 // The old saying about necessity being “the mother of invention” also seems to hold true for the insurance industry. With the number of sports related injuries on the increase in the U.K. – there are an...
Lloyd’s Warns on Australian Stock Broker Coverage
Aug 14 2006 // Lloyd’s issued a bulletin warning that an Australian stock brokerage firm called The Armitage has been falsely claiming to have coverage from Lloyd’s. Lloyd’s said it “has become aware” that...
U.S. Surplus Lines Brokers Detailed on Lloyd’s Website
Aug 9 2006 // Lloyd’s has placed detailed information on U.S. surplus lines brokers on its Website www.lloyds.com/us. The information available will “help the market verify the license details of surplus lines...
Hannover Re on Track to Make Profit Goals; Q2 Net up 2% to $193.7 Million
Aug 8 2006 // “Our result as at 30 June is a good basis for achieving our 2006 profit target, namely a return on equity of at least 15 percent,” stated Hannover Re’s CEO William Zeller, as he presented the German...
Excess flood insurance — when the federal plan isn’t sufficient
Aug 7 2006 // The lessons learned from Katrina and Rita and predictions of a future with bigger and stronger storms highlight more than ever the importance of flood insurance, even in locations where it was previously thought...
HCC Insurance Holdings Acquires Minn. Allianz Life Insurance
Aug 4 2006 // Houston-based HCC Insurance Holdings, Inc. announced today that the Company had reached an agreement to acquire the assets of Allianz Life Insurance Company of North America’s Health Products Division for a cash...
Chicago Specialty Underwriters’ Alliance Reports Profitable 2nd Quarter
Aug 4 2006 // Chicago-based Specialty Underwriters’ Alliance, Inc., “SUA” recently reported net income of $2.2 million, or $0.14 per share, for the three months ended June 30, 2006, compared with a net loss of $4.0...
Arrowhead Adds New Standard for Specialty Contractors Package Program
Aug 3 2006 // Arrowhead General Insurance Agency Inc. has added a new standard to its specialty contractors package program. This is an ISO standard occurrence coverage form offered as an additional option to the company’s...
Best Affirms Lloyd’s “A” Rating
Aug 1 2006 // A.M. Best Co. has affirmed Lloyd’s financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a”. Best also affirmed the ICR of “a-” of the Society...
St. Paul Settles with Conn,. Ill., N.Y. Attorneys General Over Broker Compensation
Aug 1 2006 // The St. Paul Travelers Companies Inc. has entered into a $77 million settlement with the attorneys general of New York, Connecticut and Illinois, as well as with the New York State Department of Insurance, resolving issues...
House Committee Advances Surplus Lines Regulatory Reform
Jul 27 2006 // The House Financial Services Committee has approved legislation that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. Chairman Michael G. Oxley (Ohio)...
ASI to Offer Non-Construction Liability, Expand Excess Products
Jul 26 2006 // American Safety Insurance Services, Inc. says it will enter the general liability market for non-construction risks and expand its capability to offer excess and umbrella liability coverage. The target market for the...
Agents Again Urge Passage of Surplus Lines Reform Legislation
Jul 25 2006 // As the Non-Admitted and Reinsurance Reform Act of 2006 (HR 5637) makes its way to full committee of the U.S. House of Representatives Financial Services, the American Association of Managing General Agents sent a call to...
Why surplus lines reform makes sense in 2006
Jul 24 2006 // The AAMGA is an international trade association comprised of 503 member agents, brokers, insurance, captive and reinsurance companies, Lloyd’s of London syndicates and underwriters, state stamping and surplus line...
Excess flood market steps up when national flood program falls short
Jul 24 2006 // The historical lessons learned from Katrina and Rita, and looming predictions of a future with bigger and stronger storms, have made flood insurance popular these days — even in locations where it was previously...
Why surplus lines reform makes sense in 2006
Jul 24 2006 // The American Association of Managing General Agents (AAMGA) commends efforts to modernize commercial insurance markets while maintaining the state-based system of insurance regulation and the surplus lines market’s...
Why surplus lines reform makes sense in 2006
Jul 24 2006 // The AAMGA is an international trade association comprised of 503 member agents, brokers, insurance, captive and reinsurance companies, Lloyd’s of London syndicates and underwriters, state stamping and surplus line...
The excess flood market steps up when national flood program falls short
Jul 24 2006 // The historical lessons learned from Katrina and Rita, and looming predictions of a future with bigger and stronger storms have made flood insurance popular these days — even in locations where it was previously...
