Latest Excess Surplus Headlines

Lloyd’s of London Finds its 21st Century Form

Sep 5 2005 // Lloyd’s is 317 years old and doing just fine thank you. London’s venerable insurance market traces its roots to the establishment of Edward Lloyd’s coffeehouse in 1688. It’s an icon of both...

NAPSLO Prepares for Record Attendance at Annual Conference

Sep 5 2005 // Leadership Says Surplus Lines Industry in Good Shape; Ready for Softer Market As the National Association of Professional Surplus Lines Offices gathers in San Francisco this month (Sept. 14-18) for its annual national...

After the Internet, Comes The Invasion of the Insurance Exchanges

Sep 5 2005 // Independent Agents May Soon Have a New Opportunity, Says MarketScout’s Kerr Independent insurance agents have outplayed and outscored the Web-based insurance distribution systems that tried to eliminate them and are...

SPECIAL REPORT: Back to Earth with Surplus Lines

Sep 5 2005 // NARRATOR: The year is 2010 and Dr. Lois Kwoat, Dr. Heywood Jawrithis and their know-it-all computer companion, Pal 2010, have returned to planet Earth from Recover Space Station a million miles away. They are on a new...

By Andrew G. Simpson

Sep 5 2005 // A New York excess lines insurance broker’s use of “sham declinations” to skirt the law on placing coverage with a non-admitted carrier could cost the broker a lot more than just regulatory fines, if a...

Trinity E&S Expands Artisans And Contractors Program

Aug 22 2005 // Thomas Gassen, president of Bermuda Dunes, Calif.-based Trinity E&S Insurance Services Inc., recently announced that their “Artisans and Contractors Program, currently written in California, Nevada, Arizona,...

Broker Disclosure Dominates Western States Surplus Lines Conference

Aug 22 2005 // Brokers should disclose contingent commissions and other incentive agreements to consumers, industry experts said at the Western States Surplus Lines Conference held July 24-26 in San Diego. Participants in the...

Aug 22 2005 // The Independent Insurance Agents & Brokers of New York Inc. recently announced the promotion of six staff members at the statewide trade association, effective Aug.1. IIABNY, which represents more than 18,000...

News Briefs

Aug 22 2005 // ALABAMA Hurricane Sales Tax Measure Dies An effort was mounted during Alabama Legislature meetings to grant a sales tax break on necessary supplies to prepare for a hurricane but the measure did not pass. Its sponsor Rep....

Aug 22 2005 // Calabasas, Calif.-based Lionheart Insurance Services has hired Russ McFarren as an excess and surplus broker. He began his insurance career in Ohio and relocated to Los Angeles in 1963 with the Pacific Indemnity Insurance...

Broker Disclosure Dominates Western States Surplus Lines Conference

Aug 22 2005 // Brokers should disclose contingent commissions and other incentive agreements to consumers, industry experts said at the Western States Surplus Lines Conference held July 24-26 in San Diego. Participants in the...

Liberty Mutual Affirmed

Aug 22 2005 // Fitch Ratings affirmed the “A-” insurer financial strength ratings on the members of the Liberty Mutual inter-company pool and revised the rating outlook on pool members to stable from negative. Additionally,...

Appeals Court Rules in Favor of Times-Picayune in Excess Insurance Case

Aug 19 2005 // Reversing a summary judgment by a district court, the U.S. Court of Appeals for the Fifth Circuit recently decided that The Times-Picayune Publishing Corporation, based in New Orleans, is entitled to recover the entire...

SLSOT Announces 2005 Seminars

Aug 16 2005 // Speakers from the Texas Department of Insurance, the state comptroller’s office and the Surplus Lines Stamping Office of Texas will discuss topics of importance to surplus lines professionals during a series of...

Beazley’s New U.S. Company Assigned

Aug 8 2005 // A.M. Best Co. assigned a financial strength rating of “A-” (excellent) and an issuer credit rating of “a-” to Beazley Insurance Company Inc. of Omaha, Neb., a newly formed U.S. insurer that is part...

Getting Serious About Regional Carrier Solvency

Aug 8 2005 // Demotech Inc. recently completed an exhaustive study of its 23,118 insurance company Preliminary and final Financial Stability Ratings (PFSRs and FSRs) issued from 1989 through 2004 and found that regional and specialty...

American Re Under Review

Aug 8 2005 // A.M. Best Co. placed the financial strength ratings of “A” (excellent) for American Re Corporation Group’s member companies under review with negative implications. Member companies include American...

AFG Posts Q2 Earnings Topping $81M

Aug 3 2005 // Cincinnati, Ohio-based American Financial Group Inc. (AFG) reported net earnings for the 2005 second quarter of $81.6 million ($1.04 per share), significantly above the $55.9 million ($.75 per share) reported for the...

Fireman’s Fund Debuts High Limit Excess Policy for Affluent Clientele

Aug 2 2005 // Fireman’s Fund Insurance Company has begun the national roll-out of a very high-limit excess policy tailored to the unique needs of affluent and high-net-worth clients with special liability coverages for nonprofit...

Royal & Sun Alliance Agrees to Sell Viking Insurance to Sentry Insurance

Jul 29 2005 // Charlotte, N.C.-based Royal & Sun Alliance has agreed to sell Viking Insurance, its specialty U.S. non-standard auto business to Sentry Insurance, of Stevens Point, Wisc. for $200 million in cash. The purchase is...