Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Calls Bankruptcy Bill Provision A Get Out of Jail Free Card
Feb 27 2001 // A special provision, added to the currently pending legislation in Congress to overhaul the U.S. Bankruptcy law, aims to prevent Lloyd’s from collecting debts from U.S. “Names”(individual Lloyd’s...
Fresh Allegations Surround Quackenbush, Lloyd’s Payment
Feb 23 2001 // The Los Angeles Times recently published a report containing new allegations that the California Department of Insurance under former commissioner Chuck Quackenbush covered up a $400,000 payment made by Lloyd’s of...
Texas Case Watched Closely By Surplus Lines Industry
Feb 19 2001 // The Comptroller of Public Accounts in Texas is planning an appeal of a Third District Court ruling that found Dow Chemical Co. did not owe the comptroller taxes on independently procured insurance. The Comptroller’s...
A.M. Best Report Shows Property/Casualty Industry Excess Capital as Blessing, Curse
Feb 16 2001 // The property/casualty industry could return capital to its stakeholders without risking rating downgrades or insolvency, according to A.M. Best Company, which is conducting an ongoing analysis of risk-adjusted...
NAPSLO Legislative Report: Surplus Lines Issues Covered at NAIC Meeting
Feb 12 2001 // NAPSLO Legislative Report: Surplus Lines Issues Covered at NAIC Meeting With the end of the year 2000 state legislative sessions and the U.S. Congress winding down its post-election lame duck session, legislative activity...
Travelers Lloyd’s Affirmed
Feb 12 2001 // The “AApi” rating on Traveler’s Lloyd’s Insurance Co. was affirmed by Standard & Poor’s (S&P). The Hartford, Conn.-based, Texas-domiciled company writes mainly commercial lines. The...
Lloyd’s Names Smith Attorney in Fact in Canada
Jan 31 2001 // Lloyd’s has named Nicholas Smith as its Attorney in fact in Canada for Lloyd’s Underwriters effective June 1, 2001. He will succeed Mark J. Oppenheim CA, who has filled the position since 1992. Smith, who...
How Do You Plan to Use the Surplus Line Market in 2001′ Readers Respond
Jan 29 2001 // In the Sept. 4, 2000, issue of Insurance Journal we ran a one-page survey in hopes of finding out how you, our readers, plan on using the surplus line market in 2001. Four of the 32 respondents returned the form via fax,...
After 300 Years, Lloyd’s Opens Its Doors to Brokers Worldwide
Jan 22 2001 // Confirming plans announced in a “Discussion Document” in October 1999, Lloyd’s officially opened its doors to brokers from outside the London community for the first time in its 300-year history....
Modernized Surplus Lines Regs Expected to Make Filing Easier
Jan 22 2001 // New surplus lines regulations went into effect in Texas on Dec. 12, 2000, the result of a request by the Surplus Lines Stamping Office of Texas. The changes mark the first update to the regulations in more than 10 years...
Lloyd’s Sees No Major Insurance Claims From Power Crisis
Jan 22 2001 // Julian James, Head of Lloyd’s worldwide markets, said that while he saw no “major insurance claims” arising from California’s current power crisis, he anticipated a rise in claims against directors...
After 300 Years, Lloyd’s Opens Its Doors to Brokers Worldwide
Jan 15 2001 // Confirming plans announced in a “Discussion Document” in October 1999, Lloyd’s officially opened its doors to brokers from outside the London community for the first time in its 300-year history....
Lloyd’s Capacity Up, As Three New Syndicates Begin Underwriting
Jan 9 2001 // Lloyd’s announced that three new syndicates have started trading adding £236 million ($355 million) to its underwriting capacity which now totals £11.06 billion ($16.6 billion), 10 percent over year 2000...
AIG Excess Casualty Division Introduces Online Umbrella Tool
Jan 9 2001 // American International Group division AIG Excess Casualty has introduced AIG e-Excess, a new web-based system providing eligible brokers with the ability to receive quote and bind select commercial umbrella coverages...
Lloyd’s Makes Final Offer To Names
Dec 22 2000 // Lloyd’s made what it described as a “final offer” to discount outstanding liabilities by as much as 70 percent to the remaining “Names” who have not voluntarily agreed to its reconstruction...
Lloyd’s Begins Acceptance of New Broker Applications
Dec 20 2000 // For the first time in more than 300 years Lloyd’s has opened its market to insurance intermediaries around the world. In line with announced plans it began sending applications to over 150 brokers who have expressed...
Lloyd’s Chairman Will Join Aon
Dec 12 2000 // Max Taylor, who will complete three years in office as chairman of Lloyd’s at the end of this month, will be joining Aon Corp. beginning Jan. 2, 2001. Taylor is leaving Lloyd’s after a board decision earlier...
AAMGA Meeting Looks at Changing Marketplace
Dec 7 2000 // The fall meeting of the American Association of Managing General Agents, which recently took place in Carslbad, Calif., focused on the hardening market and privacy concerns As part of the meeting, AAMGA University gave a...
A.M. Best Assesses Excess Capital in U.S. Property/Casualty Industry
Dec 6 2000 // Over the past decade, the U.S. property/casualty insurance industry’s excess capital position has grown dramatically due to slower premium growth, better risk management techniques and significant surplus gains. This...
High Court Decides For Lloyd’s in Jaffray Case, No Fraud Found
Nov 27 2000 // It looks like the Lutine Bell will continue to ring at Lloyd’s for a while longer, as it no doubt did on Nov. 3, when Justice Peter Cresswell of London’s High Court announced his long-awaited decision in the...
