Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Slave Trade Suit Targets Lloyd’s, U.S. Companies
May 3 2004 // International News • March 30 “These parties obviously want to bring a reparations test case. I think the courts will continue to resist cases in which principals are deceased. All of our descendants were abused by...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
May 3 2004 // International News • March 30 “These parties obviously want to bring a reparations test case. I think the courts will continue to resist cases in which principals are deceased. All of our descendants were abused by...
P/C Income, Surplus Rise Sharply in 2003
May 3 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003—nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
XL’s London Market CEO to Leave Post
May 3 2004 // XL Capital Ltd. announced that Nicholas J. Metcalf, Chief Executive Officer of the Company’s Lloyd’s operation, XL London Market Ltd., has decided to leave the Company to pursue other business interests. Clive...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
May 3 2004 // International News • March 30 “These parties obviously want to bring a reparations test case. I think the courts will continue to resist cases in which principals are deceased. All of our descendants were abused by...
AIG Launches BusPlus for School Bus Operators
Apr 29 2004 // The AIG Companies announced the introduction of BusPlus(SM), described as “a new umbrella liability insurance package that offers excess auto liability insurance coverage, sexual misconduct liability coverage and...
Judge Tells WTC Jurors They Can Render Separate Decisions on Four Lloyd’s Insurers
Apr 27 2004 // In what reports have characterized as a minor victory for Silverstein Properties in the WTC insurance recovery case, Judge Michael Mukasey told the jury, which ended five days of deliberations yesterday, that they could...
AXIS Allotment Exercised; Best Affirms Ratings
Apr 26 2004 // Bermuda-based AXIS Capital Holdings Limited announced that the underwriters of its secondary offering have exercised their option to purchase an additional 3,000,000 common shares, in full, at a price of $27.91 to cover...
Pecoraro Pleads Guilty to Fraud Conspiracy
Apr 26 2004 // A man who ran a pub in England while on the lam from Louisiana’s 1990s insurance scandals pleaded guilty to a federal charge and faces up to five years in prison, the Associated Press reported. Nofio Pecoraro Jr.,...
PCI Responds to CFA Opposition to TRIA Extension
Apr 23 2004 // The Property Casualty Insurers Association of America has issued a quick response to the report issued by the Consumer Federation of America (CFA), which said that extension of the Terrorism Risk Insurance Act was largely...
Houston Casualty Co. Affirmed, Outlook Stable
Apr 23 2004 // Standard & Poor’s Ratings Services announced the affirmation of its “AA” counterparty credit and financial strength ratings on Houston Casualty Co., Avemco Insurance Co. (Avemco), U.S. Specialty...
Bay Area Man Arrested on East Coast in $4 Million Insurance Fraud Scam
Apr 23 2004 // Richard W. Peterson, 63, of San Francisco, a former insurance broker/agent, was arrested April 19th at Miami International Airport on federal fraud charges for allegedly selling approximately $4 million of fake insurance...
Lloyd’s Chairman Warns on “New Era of Risk”
Apr 22 2004 // Speaking to business leaders in San Francisco at the World Affairs Council, Lloyd’s Chairman Peter Levene warned that new global risks increasingly threaten corporations, and need to be addressed at the boardroom...
Florida Surplus Lines Convention Takes a Cruise
Apr 21 2004 // The Florida Surplus Lines Association announced it will hit the waves at its 44th Annual Convention, July 29 – Aug. 2, 2004. For the first time, the convention will take place on a four-night cruise out of Ft....
XL Launches U.S. Primary Casualty Risk Management Program, Excess Workers Comp Division
Apr 20 2004 // Bermuda’s XL Capital Ltd. announced that it plans to enter the market for primary casualty risk management programs for major U.S. corporations. The company also announced the launch of an Excess Workers Compensation...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
Apr 19 2004 // Ten present-day descendants of slaves who were transported from Africa in the 18th and 19th centuries have filed a lawsuit against R.J. Reynolds Tobacco Co., Fleet Boston Financial Corp. (as successor in interest to the...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
Apr 19 2004 // Ten present day descendants of slaves, transported from Africa in the 18th and 19th centuries, have filed a law suit against R.J. Reynolds Tobacco Co., Fleet Boston Financial Corp. (as successor in interest to the...
RMS Risk Management Tools Assist Lloyd’s Syndicates
Apr 15 2004 // Risk Management Solutions (RMS), a provider of products and services for catastrophe risk management, has issued a set of instructions and tools to assist Lloyd’s syndicates in completing the 2004 Lloyd’s...
P/C Net Income Propels Surplus
Apr 14 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003 — nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
S&P Sees No Change in Lloyd’s Ratings
Apr 8 2004 // Standard and Poor’s Ratings Services announced that its ‘A’ insurer financial strength rating on Lloyd’s will not be affected by the company’s 2003 pro forma annual accounting result (See IJ...
