Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Best Affirms Catlin, Syndicate 2003 ‘A’ Ratings
Apr 8 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Bermuda-based Catlin Insurance Company Ltd. (CICL) (Bermuda) and its Syndicate Rating of Lloyd’s Syndicate...
Pecoraro Arrested in London; Faces Trial in New Orleans
Apr 8 2004 // Arrested in London late last year after more than a decade as a fugitive, Nofio Pecoraro Jr., 53, has been extradited to face trial on federal charges connected to his family’s failed insurance company. According to...
S&P Affirms, Withdraws Atlantic Specialty Ratings
Apr 7 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘BBB’ counterparty credit and financial strength ratings on Atlantic Specialty Insurance Co. (Atlantic Specialty) and removed...
Lloyd’s Puts 2003 Profits at $3.387 Billion
Apr 7 2004 // While other insurers had a good year in 2003, Lloyd’s had a great one. The 300 year old insurance market projected 2003 profits on an annualized basis of $3.387 billion. On the old three-year system the 2003...
ILL. CONSIDERS SURPLUS LINES BILLS:
Apr 5 2004 // Bills dealing with the surplus lines market are up for consideration in the Illinois General Assembly this session. SB 2560 closely resembles last year’s vetoed bill, which would have amended the state insurance code...
Surplus Lines Products For Homeowners – Salvation or Cause for Concern’
Apr 5 2004 // In 2004, the California homeowners and dwelling marketplace continues to erode. In October 2003, catastrophic wildfires destroyed 790,000 acres of brush and forest land, and along the way destroyed 3640 homes, 1141...
S&P Revises Nationwide Outlook to Stable
Apr 1 2004 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Nationwide Mutual Insurance Co. (NMIC) and its affiliates (collectively referred to as Nationwide) to stable from...
Lord Levene Addresses Italian Insurance Leaders
Mar 31 2004 // In a speech to Italian insurance leaders in Milan yesterday, Lloyd’s Chairman Lord Peter Levene addressed industry problems, and sounded a distinctively positive note on Lloyd’s prospects. “Last year, the...
Slave Trade Suit Targets Lloyd’s, U.S. Companies
Mar 30 2004 // Ten present day descendants of slaves, 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...
Lloyd’s Hires Consultant for ‘Brand Name’
Mar 29 2004 // Lloyd’s has taken an additional step to try and cash in on what is arguably the best known name in global insurance. News reports (compiled by Reuters and Yahoo) note that the 300 year old London market has hired the...
ACE USA Launches Energy Excess Casualty Practice
Mar 26 2004 // New York-based ACE Casualty Risk, a division of ACE USA, announced the launch of its Energy Excess Casualty Practice, which provides “a comprehensive package of insurance products and services focusing on...
Travelers Reaches Asbestos Settlement with Equitas
Mar 23 2004 // Lloyd’s runoff vehicle Equitas and Travelers Property Casualty have reached a comprehensive settlement of policies existing between Travelers and the Lloyd’s underwriters who are reinsured by Equitas. Equitas...
Adding Value in the Workers’ Comp Market Through Technical Analysis
Mar 22 2004 // If insurance brokers want to add value and differentiate themselves from their competitors in this hardening workers’ compensation marketplace, they should pay attention to the intricacies of how experience...
Specialty Marine and Pleasure Craft
Mar 22 2004 // Nuts & Bolts: Trafalgar Marine Insurance Services Inc. is offering a new market for specialty marine and pleasure crafts. Dollars: Deductibles of $1,000. Minimum premiums of $2,500. Policy limits of $10...
Adding Value in the Workers’ Comp Market Through Technical Analysis
Mar 22 2004 // If insurance brokers want to add value and differentiate themselves from their competitors in this hardening workers’ compensation marketplace, they should pay attention to the intricacies of how experience...
Specialty Marine and Pleasure Craft
Mar 22 2004 // Nuts & Bolts: Trafalgar Marine Insurance Services Inc. announced it is offering a new market for specialty marine and pleasure crafts. Dollars: Deductibles of $1,000. Minimum premiums of $2,500. Policy limits of $10...
Specialty Marine Products
Mar 22 2004 // Nuts & Bolts: Trafalgar Marine Insurance Services Inc. is offering a new market for specialty marine products, especially hard to place risks. Dollars: Deductibles of $1,000. Minimum premiums of $500. Policy limits of...
A.M. Best Affirms Cincinnati Financial’s Subsidiaries
Mar 19 2004 // Oldwick, N.J.-based insurer ratings agency A.M. Best Co. has affirmed the financial strength ratings of the insurance subsidiaries of Cincinnati Financial Corp. The affirmations include “A++” (superior) for the...
Best Affirms Lloyd’s Syndicate 1414 ‘A+’ Rating
Mar 19 2004 // A.M. Best Co. announced that it has affirmed its “A+” (Superior) Syndicate Rating of Lloyd’s Syndicate 1414 with a stable outlook. “The rating reflects explicit support from American Home Assurance...
U.K. Budget Boosts Lloyd’s Names
Mar 18 2004 // Chancellor Gordon Brown’s 2004 U.K. budget proposals will help schools with extra cash and retired persons with tax breaks, but not civil servants, as the budget plans on cutting some 40,000 jobs. While the U.K. will...
