Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Ind.-Based Leisure/Sports Specialty Broker Launched
Mar 31 2005 // announced its official entry into business with the opening of its corporate headquarters in Fort Wayne, Ind. LSS said in a statement that it has an exclusive insurance relationship with niche property/casualty carrier...
AIG Again Delays Filing of 10-K Annual Report; Discloses Details About Gen Re, Offshore, Starr Dealings
Mar 30 2005 // American International Group, Inc. announced that the filing of its 2004 Form 10-K will be delayed beyond the March 31, 2005 extended due date in order to provide AIG, its board of directors and its new management more...
Hylant Group Promotes Hall to President of Specialty Programs
Mar 28 2005 // Toledo, Ohio-based agency Hylant Group announced the promotion of Brian K. Hall to president of Hylant Specialty Programs/National Insurance Specialists. Hall is responsible for the overall operations of Hylant Specialty...
Health Care Revolution Delivers Opportunities for Surplus Lines Industry
Mar 21 2005 // How long do you plan on living?” asked a wholesale broker at a recent industry meeting. The trends facing every aspect of our health care system seem daunting at best. Yet most people would hope and plan for a longer...
Agents Beware: Due Diligence is Now Required on Brokers
Mar 21 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
STATE FUND FILES 2004 FINANCIAL STATEMENT WITH CDI:
Mar 21 2005 // In an annual statement filed with the California Department of Insurance, State Compensation Insurance Fund documented that its policyholder surplus–assets minus claims reserves and other liabilities–increased...
Agents Beware: Due Diligence is Now Required
Mar 21 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
Best Affirms AIG’s Lloyd’s Syndicate ‘A+’ Ratings
Mar 18 2005 // A.M. Best Co. announced that it has affirmed the Best’s Syndicate Rating of “A+” (Superior) and issuer credit rating of “aa-” of Lloyd’s Syndicate 1414 with a stable outlook. Best...
Garland Joins Specialty Risk Associates
Mar 17 2005 // Shreveport, La.-based Specialty Risk Associates Inc. announced the addition of Thomas Garland as the new vice president of Underwriting and Marketing. Garland will coordinate the underwriting and marketing efforts of the...
Lloyd’s Settles with Central Fund Insurers for $ 292 Million; Best Comments
Mar 15 2005 // Lloyd’s announced that it has reached a settlement agreement with the insurers involved in the arbitration proceedings relating to an insurance policy supporting its New Central Fund. The settlement amount is £152...
Quanta Posts $14.4 Million Q4 Loss; $54.6 Million Full Year Net Loss
Mar 15 2005 // Bermuda’s Quanta Capital Holdings Ltd. reported that its net loss for the fourth quarter of 2004 was $14.4 million, or $0.25 per diluted share. This compares to a net loss of $37.4 million, or $0.66 per diluted...
S&P Issues Statement on Lloyd’s Market Ratings
Mar 15 2005 // Standard & Poor’s Ratings Services announced that it has clarified its approach to the Lloyd’s Market and the methodology it uses for rating the Market’s different components. In the just published...
Lloyd’s Chairman Addresses Norway’s Insurers
Mar 10 2005 // Lloyd’s Chairman, Lord Peter Levene, addressing a gathering of the Norwegian insurance industry, reminded his audience of the historic ties between the U.K. and the Scandinavian nation, observing that the two...
Jardine Lloyd Thompson Secures Lloyd’s of London Protection for Financial, Healthcare Sectors
Mar 9 2005 // JLT Risk Solutions Ltd. and Jardine Lloyd Thompson LLC, part of Jardine Lloyd Thompson Group plc, reported insurance capacity has been secured within the Lloyd’s of London market to provide new insurance protection...
Healthcare Revolution Delivers Opportunities for Surplus Lines Industry
Mar 7 2005 // How long do you plan on living?” asked a wholesale broker at a recent industry meeting. The trends facing every aspect of our healthcare system seem daunting at best. Yet, like the wholesale broker who asked this...
State Fund Files 2004 Financial Statement with CDI
Mar 2 2005 // In an annual statement filed Wednesday with the California Department of Insurance, State Compensation Insurance Fund documented that its policyholder surplus — assets minus claims reserves and other liabilities...
FSLSO Creates Digital Online Classroom, Stresses Online Education
Mar 2 2005 // The Florida Surplus Lines Service Office in Tallahassee has made a concerted effort to create a digital online classroom to improve educational resources to provide quick and quality service at its customers’...
Beazley Opens Up Shop in U.S. for Specialty Lines
Mar 2 2005 // London-based Beazley has started underwriting specialty lines business locally in the U.S. on behalf of its syndicates at Lloyd’s. The opening of its office in Farmington, Conn. is part of Beazley’s plans to...
William Blair & Co. Begins Coverage for Specialty Underwriters’ Alliance with Outperform Rating
Mar 1 2005 // William Blair & Company has initiated research coverage of Specialty Underwriters’ Alliance Inc., a start-up commercial property/casualty underwriter based in Chicago, focused on the specialty program business...
Ck Specialty Expands Into Oregon
Feb 23 2005 // Ck Specialty Insurance Associates Inc., a surplus line broker and managing general agent, has expanded operations into Oregon with a new office in Sherwood, just south of Portland in Washington County. Ck Specialty offers...
