Latest Excess Surplus Headlines

Best Assigns Amlin’s New Bermuda Company an ‘A-‘ Rating

Dec 16 2005 // Following its affirmation of the parent company’s ratings (See previous article), A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit rating...

Prime Secures Lloyd’s Binding Authority to offer Independent Producers Lloyd’s Paper on Certain Liability Risks

Dec 13 2005 // SANDY, Utah – The Prime Insurance Syndicate, Inc. (“Prime”) is pleased to announce that effective October 1, 2005; Prime secured additional binding authority from certain underwriters at Lloyd’s of...

Dorr Joins Mass. Office of HCC Specialty Underwriters

Dec 13 2005 // HCC Specialty Underwriters, Inc., a specialty underwriting agency subsidiary of HCC Insurance Holdings, Inc., announced that Glenn B. Dorr III has joined its Wakefield, Mass. office. Dorr has been in the insurance industry...

Lloyd’s Dropped from R.I. Nightclub Suit

Dec 12 2005 // A federal judge in Rhode Island has ordered Lloyd’s of London dropped from a civil lawsuit filed by victims of the 2003 fire at the Station nightclub. Finding that the insurance policy issued to nightclub owner...

XL Announces Changes in Leadership at Specialty Marine and Energy Unit

Dec 6 2005 // Clive Tobin, chief executive responsible for XL Capital Ltd’s insurance operations announced the appointment of a new leadership team for XL Insurance Global Marine and Offshore Energy unit, part of XL’s...

Willis Buys N.Y.-Based Armored Car Insurance Specialty Broker

Dec 6 2005 // Willis Group Holdings Limited, the global insurance broker, announced today the stock acquisition of International Insurance Brokers, Inc. Located in Staten Island, N.Y., International Insurance Brokers is a specialized...

SUIT FILED OVER EXCESS FLOOD COVERAGE

Dec 5 2005 // A pair of plastic surgeons in New Orleans, La., who are facing more than $1 million in uninsured home losses from Hurricane Katrina, are suing State Farm Insurance, claiming the company did not tell them they could have...

IJ’s Program Directory, as well as IJ’s E&S Directory and Workers’ Comp Directory, are also available online. Brokers an

Dec 4 2005 // Welcome to Insurance Journal’s 14th Annual Program Directory, Volume II. Information contained in this 2005 directory has been compiled by IJ’s staff as a resource for readers. For the purposes of this...

Regulation of Surplus Lines

Dec 4 2005 // Montana House Bill 631 (Signed into law on April 8, 2005) Regulation: This law relates to the revision of surplus lines insurance law and provides that a policy may not be placed with an unauthorized insurer unless the...

News Briefs

Dec 4 2005 // Willis Expands in China, Latin America: In a breakthrough agreement, global insurance broker Willis Group Holdings Limited, has received written approval from the China Insurance Regulatory Commission (CIRC) to increase...

Agency Consolidation Dynamics are Ripe for the Picking

Dec 4 2005 // The consolidation of insurance agencies has played a prominent role within the industry over the last 30 years. Now more than ever, however, such activity increasingly influences the average size of distributors, the scope...

XL Capital Forms Excess Surplus Unit

Dec 1 2005 // XL Capital Ltd. has created a new Excess & Surplus (E&S) lines unit to add to its insurance operations, Clive Tobin, chief executive officer, announced today from London. The new unit will be dedicated to...

Lloyd’s Ups Hurricane Losses to $3.27 Billion; Increases 2006 Capacity

Nov 30 2005 // Lloyd’s has issued an updated statement on the estimated financial impact on the market of Hurricanes Katrina, Rita and Wilma, based on the results gathered from “a Major Loss Return from each Managing...

Lord Levene Urges U.K. Reinsurers to Support Changes in U.S. Trust Fund Collateral Requirements

Nov 29 2005 // Lloyd’s Chairman, Lord Levene, has called on the London market’s reinsurers to play their part in European efforts to remove the current “inappropriate system” of collateralisation requirements in...

New Excess Surplus Lines Carrier, Rockhill Insurance, Launched

Nov 29 2005 // Rockhill Holding Company has raised $145 million in capital and completed the acquisition of United Coastal Insurance Company, an excess and surplus lines company which is authorized in most US jurisdictions. United...

Whipp, Bleisnick Join Guy Carpenter

Nov 29 2005 // Guy Carpenter & Company Inc. announced that Scott Whipp has joined the company’s Professional Liability Specialty Practice as a managing director and will lead its medical malpractice group and that Michael...

Lloyd’s Offers Poultry Farmers Coverage for Bird Flu

Nov 25 2005 // Heath Lambert has launched a facility to protect poultry farmers against avian flu (also known as bird flu). The exclusive facility, broked by the company’s specialist London market operation, FSJ, is 100%...

Integro Buys Lloyd’s Broker Humphreys, Haggas, Sutton

Nov 24 2005 // Integro Ltd. announced the acquisition of Humphreys, Haggas, Sutton & Co. Ltd. (HHS), a Lloyd’s broker founded in 1994 by its three principals, Toby Humphreys, Simon Haggas and John Sutton. “This...

Nov 20 2005 // The Board of Directors of Arthur J. Gallagher & Co. elected Kay W. McCurdy to serve on its board of directors. McCurdy began her career in 1975 as an attorney at Lord, Bissell & Brook in Chicago and has more than...

James Discusses Challenges Facing Lloyd’s at Xchanging Conference

Nov 18 2005 // In a speech on Nov. 17, given at a conference sponsored by insurance service provider Xchanging, Julian James, Lloyd’s Director of world-wide markets, stressed that the London market faced continuing challenges in...