Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
R&SA Business Division Unveils New Specialty Foods Focus
Apr 11 2003 // As part of its ongoing segmentation strategy, the Business Insurance Division of Connecticut-based Royal & SunAlliance USA announced a new program of insurance and services for manufacturers of specialty food...
Lloyd’s Chairman Calls for Equal Treatment Under U.S. Insurance Law
Apr 11 2003 // The current U.S. regulation system must change to accept Lloyd’s as a loyal partner rather than reinsurance aliens, the Chairman of Lloyd’s of London told journalists in Washington, D.C. recently. Speaking to...
Ace Westchester Specialty Group Opens Chicago Casualty Office
Apr 11 2003 // Ace Westchester Specialty Group, a division of Ace USA Inc., has announced the opening of its new Chicago casualty office. The office, at 525 W. Monroe St., will underwrite primary general liability umbrella and high...
Lloyd’s Chairman Blasts U.S. “Litigious Culture”
Apr 9 2003 // “The U.S. litigation system, if left unchecked, will destroy the American spirit of enterprise and drain the U.S. economy,” was the stark message given by Lloyd’s Chairman Lord Peter Levene in a speech...
Hard Market Hits California Homeowners
Apr 7 2003 // Credit scoring, CLUE reports become targets of Commissioner Garamendi’s Ire The hard market has hit California homeowners hard. State Farm, which had nearly 23 percent market share in the state in 2001 according to...
Industry Applauds Lloyd’s Return to Profitability
Apr 3 2003 // If it were a sports story, it would be something like the Anaheim Angels winning the World Series last year, so when an insurance company, in this case an insurance market, goes from losing almost $5 billion to making...
Lloyd’s Announces Financial Results – $1.32 Billion Profit for 2002
Apr 2 2003 // After weathering asbestos claims, various disasters and the Sept. 11 attacks, Lloyd’s announced today that 2002 was a spectacularly profitable year. The 315-year old insurance market posted net profits on an annual...
Lloyd’s Announces First Companies to Use “Project Blue Mountain”
Apr 1 2003 // International brokers Marsh and Willis along with four major London-based insurers, ACE European Group, Amlin, Beazley and Wellington, became the first companies to sign letters of intent to use Lloyd’s new Project...
A.M. Best Assigns Pooled ‘A’ Rating to State National Group
Mar 28 2003 // State National Companies announced that A.M. Best has assigned an ‘A’ (Excellent) rating to its pooled subsidiaries, State National Insurance Company (SNIC) and State National Specialty Insurance Company...
A.M. Best Further Downgrades Ratings of Commercial Travelers and Monitor Life
Mar 27 2003 // A.M. Best Co. announced that it has downgraded the financial strength ratings to B- (Fair) from B+ (Very Good) of Commercial Travelers Mutual Insurance Company and its wholly-owned subsidiary, Monitor Life Insurance...
S&P’s Lowers Kemper Cos. Ratings; Keeps on Watch Negative
Mar 27 2003 // Standard & Poor’s has lowered its counterparty credit and financial strength ratings on the members of the Kemper Insurance Cos. Intercompany Pool (Kemper pool) to ‘B-‘ from ‘B+’. In...
Lloyd’s Affirmed
Mar 24 2003 // S&P’s affirmed its “A” long-term insurer financial strength rating on U.K.-based Lloyd’s insurance market. The “continuing commitment of capital providers to the Market and the consequent...
TRIA-a Flood of Paper, a Trickle of Buyers
Mar 24 2003 // December is the most dreaded month for a surplus lines broker. In addition to all the 12/31 and 1/1 renewals, one must deal with underwriters and employees having the gall to go on vacation, holiday parties, holiday...
Lloyd’s Awards U.S. Brokers; Accredits New Asian, Pair of London Brokers
Mar 24 2003 // Lloyd’s of London announced that Constance Curnow of Guy Carpenter and Gerald J. Sullivan of The Sullivan Group are the first brokers to win the Lloyd’s U.S. Broker Awards. The awards for U.S. Reinsurance...
Resurrection-First Steps to WTC Resurrection as Coverage Fight Continues
Mar 24 2003 // With the selection of the design submitted by Berlin-based architect Daniel Libeskind, rebuilding of the World Trade Center site has begun. Walking around the 16 acres of open space in the heart of New York one finally...
Lloyd’s Chairman Calls for Change in Paperwork Processing
Mar 17 2003 // Lloyd’s Chairman, Lord Peter Levene, called upon underwriters and brokers to move away from the paper-bound system that has barely changed for decades and embrace the technology of the 21st century. He made clear...
Lloyd’s Awards U.S. Brokers; Accredits New Asian, 2 London Brokers
Mar 13 2003 // Lloyd’s of London announced that Constance Curnow of Guy Carpenter and Gerald J. Sullivan of The Sullivan Group are the first brokers to win the Lloyd’s U.S. Broker Awards. The awards for U.S. Reinsurance...
Argonaut Posts Losses, Agrees to Sell Stock to HCC
Mar 13 2003 // Despite gains in three of its four business segments, San Antonio-based Argonaut Group said it posted a $105.3 million net loss for the fourth quarter 2002 and an $87.0 million net loss for the year. The 2002 net loss was...
Lloyd’s Affirmed
Mar 10 2003 // S&P’s affirmed its “A” long-term insurer financial strength rating on U.K.-based Lloyd’s insurance market. The “continuing commitment of capital providers to the Market and the consequent...
TRIA – a Flood of Paper, a Trickle of Buyers
Mar 10 2003 // December is the most dreaded month for a surplus lines broker. In addition to all the 12/31 and 1/1 renewals, one must deal with underwriters and employees having the gall to go on vacation, holiday parties, holiday...
