Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
How to Find New Markets
Jan 27 2003 // For the past seven years, the Insurance Journal has published the annual Directory of Excess, Surplus and Specialty Markets. This issue is a resource for independent agents and brokers to help them find the markets they...
Lloyd’s Accredits, Canadian, Italian Brokers
Jan 24 2003 // Lloyd’s announced that it has recently accredited Canada’s Beach & Associates Ltd. and Italy’s Aon Italia Srl as the first new brokers to be given full access to the Lloyd’s market in...
NAII Says R.I. Lead Hazard Regulation Should Exclude Surplus Lines Insurers
Jan 20 2003 // According to the National Association of Independent Insurers (NAII), The Rhode Island Department of Business Regulation (RIDBR)’s Regulation 101 should be rewritten to specifically exclude surplus lines insurers,...
EC to Decide Whether to Charge U.K. on Lloyd’s Regulation
Jan 20 2003 // The European Commission, the top regulatory body of the European Union, is reportedly set to decide on Tuesday whether to file formal charges against the U.K. for failing to apply EU regulatory standards to the...
Lloyd’s Chairman Notes U.S. Premium Income Rises to New High of $8.2B
Jan 16 2003 // In his inaugural speech as Chairman of Lloyd’s of London, Lord Levene confirmed that the U.S. continues to be Lloyd’s largest single market accounting for approximately 40 percent of its business. He announced...
To Catch a Thief-State DOI’s Work Hard to Keep Agents in Line
Jan 13 2003 // A quick browse through the Web sites of state insurance commissioners across the country on any given day in any given year, is bound to turn up at least one account of regulators cracking down on an insurance agent for a...
Xchanging Launches Enhanced Claims Review -ECR- Service
Jan 9 2003 // Business Process Outsourcing company Xchanging announced the launch of the second phase of its ECR Service to review non-moving claims files for the Lloyd’s market for years of account 1993 onwards. A regular review...
SLA Reports 104.5 Percent Increase for Processed Surplus Line Premium
Jan 9 2003 // Ted Pierce, executive director of the Surplus Line Association of California, released the association’s 2002 totals for processed surplus line premium showing a 104.5 percent increase over the 2001 premium...
Fitch Downgrades Trio of Kemper Companies Primary Underwriters
Jan 8 2003 // Fitch Ratings has downgraded the insurer financial strength ratings of three primary insurance underwriters of the Kemper Insurance Companies (KIC) to ‘B+’ from ‘BBB’. Additionally, Fitch has...
Endurance Reinsurance Corp. of America Receives A- Rating
Jan 2 2003 // Endurance Specialty Holdings announced that its U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re) has received Endurance’s group rating of A- (Excellent) from A.M. Best. Endurance Re is...
Trenwick Finalizes Agreement With Lloyd’s Letter of Credit Providers
Dec 25 2002 // Bermuda-based Trenwick Group Ltd. announced that it has entered into definitive final agreements with its Lloyd’s letter of credit providers with respect to the renewal of $182 million of letters of credit supporting...
Lloyd’s Welcomes Four New Brokers
Dec 20 2002 // Lloyd’s announced that it has issued accreditation to four new brokers, including the first from India, as part of its ongoing initiative, launched in 2001, to widen access to the London market. The brokers are CK...
Endurance Specialty Holdings Forms U.S. Subsidiary
Dec 20 2002 // Bermuda-based Endurance Specialty Holdings Ltd. announced the formation of a wholly-owned U.S. subsidiary, Endurance Reinsurance Corporation of America (Endurance Re). The new company has been granted a license as a New...
Weak Investment Results Throw Curve at P/C Insurers’ Recovery at Nine-Month Mark
Dec 18 2002 // Thanks to strong premium growth and lower catastrophe losses, the U.S. property/casualty industry earned $9.3 billion in net income after taxes through nine-months 2002, in sharp contrast to the $2.6 billion net loss...
Lloyd’s Appoints Faraday’s Rolf Tolle as Franchise Performance Director
Dec 17 2002 // Rolf Tolle, currently the Chief Underwriting Officer of Faraday Group, General Re’s Lloyd’s and London Market insurance and reinsurance operation, has been appointed as the first Performance Director of the...
Fairfax to Restructure TIG Insurance
Dec 17 2002 // Canada’s Fairfax Financial Holdings Ltd. revealed plans on Monday to significantly restructure its Dallas-based subsidiary TIG Insurance. Plans call for a portion of the company’s business to be placed into...
HCC to Acquire Lloyd’s Specialty Broker Dickson Manchester Ltd.
Dec 17 2002 // Stephen L. Way, Chairman and CEO of Houston-based HCC Insurance Holdings, Inc. announced that the Company had reached an agreement to acquire Lloyd’s broker Dickson Manchester & Company Limited (DM). “DM...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
8 is Enough – Programs That Caught Our Eye
Dec 16 2002 // For this end-of-the year edition of Insurance Journal, we looked at some unique or interesting programs and found eight that grabbed our attention. Obviously they do not represent a comprehensive list, which is admittedly...
Solvency Study Shows Continued Good Ratings
Dec 16 2002 // The solvency record of the domestic surplus lines industry continues to mirror that of the total property/casualty industry, according to the ninth annual study of the excess and surplus lines industry by the A.M. Best...
