Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Deadline for Late-Filed Texas Surplus Line Policy Corrections: Feb. 15
Jan 28 2021 // Corrections or adjustment forms for late-filed Texas surplus line insurance policies included on November or December 2020 monthly late filers reports are due by Feb. 15, 2021. After this date, no additional modifications...
Texas Surplus Line Insurance Premium Neared $8B in 2020
Jan 28 2021 // Texas recorded nearly $8 billion in surplus lines premium in 2020. The Surplus Lines Stamping Office of Texas (SLTX) reported that surplus line premium in the state increased to $7.92 billion in 2020, up 14% from $6.95...
Houston’s Skyward Specialty Names Burkhart President of Specialty Lines
Jan 26 2021 // Houston-based Skyward Specialty Insurance Group Inc. (Skyward Specialty) has appointed John Burkhart president of specialty lines with oversight of Executive and Professional Liability, Healthcare Professional Liability,...
Insurer Hallmark Financial Explores Splitting Off Its Specialty Commercial Lines Business
Jan 22 2021 // Hallmark Financial Services, a specialty property/casualty company, announced Thursday that it is exploring the separation of its specialty commercial business to unlock its value and improve access to capital. Currently...
Lloyd’s Appoints Aviva’s Tiernan to New Chief of Markets Position
Jan 22 2021 // Patrick Tiernan will be joining Lloyd’s of London in the newly-created role of chief of Markets, where he will will oversee market performance and distribution. Tiernan will join Lloyd’s from Aviva where he is...
Skyward Specialty Insurance Group Acquires Aegis Surety, Sells XPro
Jan 22 2021 // Skyward Specialty Insurance Group Inc. has acquired Aegis Surety and simultaneously sold XPro, which provides solutions for the pest control industry. K2 Insurance Services is both the seller of Aegis Surety and the buyer...
Spanos Joins Core Specialty Insurance E&S Group as VP
Jan 22 2021 // Van Spanos has joined Cincinnati, Ohio-based Core Specialty Insurance Holdings Inc.’s newly formed excess and surplus (E&S) primary Product Liability group as vice president. Spanos is responsible for managing...
Liberty Specialty Markets Launches German Terrorism Insurance Coverage
Jan 20 2021 // Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has launched new terrorism insurance coverage in the German market, effective immediately. Since LSM entered the market in 2018, business written...
Specialty Insurer Hallmark Financial CEO Anand Resigns; AM Best Maintains ‘A-‘ Rating
Jan 20 2021 // AM Best announced that it would not change the “A-” financial strength ratings of the members of Dallas-based specialty insurer Hallmark Insurance Group nor the “bbb-” long-term issue credit rating...
Applied Specialty Underwriters Names Black to Lead Middle Market Surplus Lines
Jan 19 2021 // Applied Underwriters has named John Black, Sr., CPCU, to lead its expansion into middle market surplus lines. As executive vice president of the newly-expanded Applied Specialty Underwriters, Black, who has 35 years of...
Sierra Specialty in California Names Sunderland Senior Underwriter
Jan 19 2021 // Clovis, Calif.-based Sierra Specialty Insurance Services has added Chris Sunderland as a senior property/casualty underwriter. Sunderland previously co-founded International Property & Casualty Insurance Brokers of...
AM Best Assigns ‘A’ Rating to Nebraska’s Summit Specialty Insurance
Jan 15 2021 // AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” to Summit Specialty Insurance Co. (SSIC), based in Omaha, Neb. The outlook assigned to these ratings...
UK Regulators Approve Lloyd’s Special Purpose Vehicle to Attract New Forms of Capital
Jan 14 2021 // Lloyd’s announced it has received regulatory approval to set up a new multi-insurance special purpose vehicle, which aims to attract new forms of capital. A key milestone for the Future at Lloyd’s strategy, the...
Core Specialty Partners, Lancer Launch Excess Transportation Program
Jan 13 2021 // Core Specialty Insurance Holdings and its subsidiaries have partnered with Lancer Management Co. to provide excess liability limits for qualified local, intermediate and long haul trucking accounts as well as general...
Exceptional Risk Advisors Acquires International Specialty of North Carolina
Jan 13 2021 // Exceptional Risk Advisors, a Lloyd’s of London coverholder, has acquired assets of International Specialty Insurance Services. Headquartered in Winston-Salem, N.C., International Specialty Insurance designs insurance...
Digital E&S Broker Pathpoint Offers Multiple Cyber Quotes to Retail Agents
Jan 12 2021 // Pathpoint, a digital excess and surplus lines insurance broker, said it is offering a new capability to independent retail agents: access to multiple cyber insurance quotes through a single online application containing...
Hamilton’s Lloyd’s Operations Hires Ormes from Chubb, Mognetti from Acappella
Jan 12 2021 // Hamilton Insurance Group Ltd. announced two senior appointments in its Lloyd’s operations, Hamilton Managing Agency Ltd. – Trevor Ormes as deputy active underwriter of Syndicate 4000 and head of Professional Lines,...
The Gig Economy, Auto Insurance and Surplus Lines
Jan 11 2021 // Automobile insurance looks very different today than it did a generation ago. The means by which people (and goods) travel via motor vehicles continue to expand and evolve, as do businesses and their automobile insurance...
Lloyd’s Moves to End Insurance and Investments in Coal for Climate Sustainability
Jan 11 2021 // The Lloyd’s market is moving to end its insurance cover for coal and oil sands businesses while at the same time ceasing investments in such carbon-producing assets by Jan. 1, 2022. As part of its plan to accelerate...
Social Inflation Lesson: Not Settling Cost Insurer Millions in Suit by Excess Insurer
Jan 11 2021 // The defense team for Chubb Group’s Ace American Insurance Co. was confident that no jury would award more than $2 million in a wrongful death lawsuit filed by the family of Mark Braswell, who died on May 16, 2014,...
