Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Panel Cites Information Flow As Biggest Challenge
Jun 26 2002 // The hard market is having a serious effect on information processing according to a panel of experts established to discuss market conditions by Lloyd’s. Lloyd’s announcement indicated that a number of...
PMA Capital Corp. Rating under Review by A.M. Best
Jun 26 2002 // A.M. Best Co. has placed the “A” (Excellent) financial strength rating of PMA Capital Insurance Company and the “A-” (Excellent) rating of PMA Insurance Group under Review with Negative...
Lloyd’s Sponsored Report Faults Risk-Averse Culture
Jun 19 2002 // A major study by U.K. think-tank Global Futures, sponsored by Lloyd’s of London and the Association of Insurance and Risk Managers (AIRMIC), suggests that following the Sept. 11 attacks a “risk-averse”...
Lloyd’s Selects Lord Levene as New Chairman
Jun 13 2002 // For the first time in over 300 years Lloyd’s of London will be headed by a Chairman from outside the London Insurance Market, as the Council of Lloyd’s announced the selection of Lord Peter Levene of Portsoken,...
Lloyd’s Sees Costs of Risks Continuing to Rise
Jun 10 2002 // Julian James, Director of Worldwide Markets at Lloyd’s, in a speech given last week to business leaders in Singapore and Hong Kong, stated that the costs of risk are continuing to rise. James, attributed the rise in...
NAII Says Surplus Lines Insurers Should Take Precedence Over Joint Underwriting Associations
Jun 10 2002 // Before creating joint underwriting associations to provide difficult-to-obtain insurance, such as for medical malpractice or nursing homes, state regulators should encourage coverage by surplus lines’ insurers. The...
Insurers & Contractors Trying to Nail DownProper Coverage
Jun 10 2002 // If you’re placing coverage for contractors, there are three factors that determine what obstacles you will encounter: location, location, location. The real question is whether it will stay that way or whether...
Aon Expects Spin-off after June 30
Jun 3 2002 // Aon Corporation says the spin-off of Combined Specialty Group, Inc. (CSG) is now expected to be completed after June 30. Steps necessary to complete the spin-off continue to be taken and the spin-off will be accomplished...
AAMGA Honors Kevin Tromer for Service
May 30 2002 // Kevin Tromer received the Earle Dillard Award, which honors the top committee chair, by the American Association of Managing General Agents (AAMGA) at the association’s 76th annual meeting at the Bellagio Hotel in...
PA Legislators Urged to Ease Surplus Lines
May 29 2002 // Michael G. Koziol, senior counsel and a director of the National Association of Independent Insurers (NAII), recently addressed a letter to the Pennsylvania Senate’s Banking and Insurance Committee, urging members to...
AXIS Specialty Opens European HQ in Dublin
May 29 2002 // AXIS Specialty Limited, the newly formed Bermuda-based insurer, announced that it has received Irish Government approval to commence business as an insurer and reinsurer from its European headquarters in Dublin,...
Caliber One Exiting E&S Lines; Calif., Texas Were Top 2 States of Business
May 27 2002 // Saying the move will allow the company to devote all of its financial resources and managerial attention to its best performing businesses, PMA Capital has decided to withdraw from the excess and surplus (E&S) lines...
Protect Your Customers from Watered-DownPWC Coverage
May 27 2002 // The United States boasts nearly 51 million acres of lakes, 633,000 miles of rivers and 88,600 miles of coastal shoreline. So, it’s little wonder that water recreation is a popular summer pastime. In recent years,...
Caliber One Exiting E&S Lines; Calif., Texas Were Top 2 States of Business
May 27 2002 // Saying the move will allow the company to devote all of its financial resources and managerial attention to its best performing businesses, PMA Capital has decided to withdraw from the excess and surplus (E&S) lines...
Lloyd’s, London Brokers Set Up Benchmark Program
May 22 2002 // Lloyd’s and the London Market Insurance Brokers’ Committee (LMBC) announced that they have jointly established a new benchmarking program for the London Insurance Market. The program will allow insurers and...
Standard and Poor Assigns Western Specialty Insurance Co. ‘R’ FSR
May 17 2002 // Standard & Poor’s has assigned its ‘R’ financial strength rating to Western Specialty Insurance Co. in recognition of an order of liquidation issued by the Cook County Circuit Court in Illinois on...
Hull & Co. Enjoys AAMGA’s Annual Meeting
May 17 2002 // Some of Hull & Company’s Senior Management team were seen having a serious business meeting at their poolside cabana during the May 5-9 AAMGA meeting at the Bellagio Hotel in Las Vegas. Hull & Company has...
CORRECTION: Lloyd’s SP Rating is Single ‘A’
May 16 2002 // The title of the May 14th article concerning Standard & Poor’s removal of the Lloyd’s market from CreditWatch incorrectly had a dash/minus symbol attached to the ‘A’ rating. This was an error...
S&P Removes Lloyd’s from CreditWatch, Affirms ‘A’ Rating
May 14 2002 // Standard & Poor’s announced that it has removed the Lloyd’s insurance market from CreditWatch, where it was placed on Sept. 20, 2001, and has affirmed its single-‘A’ insurer financial strength...
Lloyd’s Change to Annual Accounting Results in $4.5 Billion Loss Estimate
May 13 2002 // Lloyd’s decision to begin reporting its syndicates profits and losses on an annual basis, rather than over three years, proved costly. Last year’s losses are estimated at £3.11 billion ($4.5 billion) overall,...
