Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
ASH Hits Chubb with Lawsuit
Apr 15 2005 // San Diego-based American Specialty Health (ASH) has filed suit against Chubb Corp., claiming the insurer is guilty of false advertising and failure to cover ASH’s legal expenses incurred in the successful defense...
First Underwriting Profit Since 1978, Investment Gains Send Industry’s Net Income and Surplus to Record Highs
Apr 12 2005 // Benefiting from a rare profit on underwriting and investment gains, the U.S. property/casualty insurance industry’s net income after taxes rose 29 percent to a record $38.7 billion in 2004 from $30 billion in...
COO Miller Exits St. Paul Travelers for OneBeacon
Apr 11 2005 // The St. Paul Travelers Companies, Inc. today announced that T. Michael Miller, co-chief operating officer, has resigned to pursue an opportunity outside of the company. Miller is going to OneBeacon Insurance, a wholly...
Lloyd’s CEO Outlines ‘Strategic Challenges’ Facing General Insurance Industry
Apr 8 2005 // Lloyd’s CEO Nick Prettejohn, speaking at the FSA insurance conference on Thursday, April, 7, outlined six “strategic challenges” facing the general insurance industry, which he also indicated was by no...
Merkle and Rojas Join Monarch E&S
Apr 7 2005 // Monarch E&S Insurance Services has hired Matt Merkle as assistant vice president and Doris Rojas as an underwriter in its new Simi Valley, California office. Merkle will manage the overall operations of the office and...
S&P Sees No Change in Lloyd’s Ratings
Apr 7 2005 // Standard & Poor’s Ratings Services joined A.M. Best in stating that its ratings and outlook on the Lloyd’s Market (“A” / Stable) and The Society of Lloyd’s (also “A” /-...
S&P Publishes Comparison Study on U.S. Surplus and Specialty Lines Insurers
Apr 7 2005 // Standard & Poor’s Ratings Services named Houston-based HCC Insurance Holdings Inc. as the leader in surplus and specialty insurance lines, in a new report – “Peer Comparison: U.S. Surplus And...
Western Security Surplus Offers Free Tough Products Liability Seminar May 11
Apr 6 2005 // Western Security Surplus announced a free Tough Products Liability Insurance seminar on May 11, 2005. The hosts for the seminar will be WSS’ Northern California office and Shand Morahan. The topic is “Insuring...
Lloyd’s Recorded Strong 2004 Profit Despite Hits from Natural Catastrophes
Apr 6 2005 // Lloyd’s of London announced an annually accounted profit of $2,605 million in 2004. Although below profits of 2003, this result was achieved despite net claims of $2.3 billion from the U.S. hurricanes, in the...
Target Insurance Services Launches 3 New Programs: Home Inspectors, Large Law Firms, Accountants
Apr 5 2005 // Avon, Conn.-based Target Insurance Services is making available new markets for home inspectors professional liability, including optional general liability; professional liability for large law firms (50+ in size); and...
Argonaut Group Acquires Renewal Rights of Fireman’s Fund Binding Authority Business
Apr 4 2005 // San Antonio-based Argonaut Group Inc., a national underwriter of specialty insurance products in niche areas of the property and casualty market, announced it has reached an agreement with Fireman’s Fund Insurance...
Specialty Underwriters’ Alliance Lost $8.2 Million in 2004
Apr 4 2005 // Chicago-based commercial property/casualty program carrier Specialty Underwriters’ Alliance Inc. reported a net loss of $8.2 million for 2004. Total revenues were $300,000, representing investment income earned after...
Agents Beware: Due Diligence is Now Required
Apr 4 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...
Agents Beware: Due Diligence is Now Required on Brokers
Apr 4 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...
S&P Report Notes Slower Growth in U.S. P/C Surplus
Apr 1 2005 // Standard & Poor’s Ratings Services has published a report comparing the past two years of U.S. P/C surplus growth, titled “U.S. Property/Casualty Surplus Growth Slows In 2004.” S&P credit...
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...
