Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Lloyd’s Picks 12 Insurtech Startups for Next Cohort of Its Innovation Lab
Apr 9 2020 // Lloyd’s has selected 12 insurtech startups to participate in its innovation accelerator, Lloyd’s Lab. The 12 teams were chosen out of more than 190 applications, received from across the world, for the fourth...
California Supreme Court Ruling Will Enable Montrose to Tap Excess Policies
Apr 7 2020 // A decision this week by the California Supreme Court gave policyholders with long-tail environmental claims a potentially big win, finding that polices within each policy period can be vertically stacked. The decision was...
Insurance Veteran Kevin Brooks Passes Away Due to COVID-19 Complications
Apr 7 2020 // Insurance industry veteran Kevin P. Brooks passed away on April 3, 2020, due to complications of COVID-19. Brooks had a long and successful career in the insurance industry, focusing on wholesale, specialty and surplus...
Lloyd’s Returns to Profit; ‘Strong Position’ to Respond to COVID-19
Apr 6 2020 // While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was...
COVID-19 Claims to Hit Lloyd’s on Multiple Lines, Says CEO Neal
Apr 6 2020 // Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too...
This Insurance Would Have Helped in Coronavirus Crisis But Nobody Bought It
Apr 3 2020 // Like everyone else, Peter Lacovara is coping with COVID-19, working at home to limit contagion to the coronavirus and stay healthy. He’s also plugging away trying to keep businesses healthy, as well. In his role as a...
BMS Signs Preferred Partner Agreement with Portuguese Specialty Broker Tagus
Apr 3 2020 // BMS Group, the independent specialist re/insurance broker, announced the conclusion of a preferred partner agreement with the new wholesale and specialty broker Tagus Specialty in Portugal. An ambitious production plan has...
Fitch Places Lloyd’s of London’s on Rating Watch Negative on COVID-19 Crisis
Apr 3 2020 // Fitch Ratings has placed Lloyd’s of London’s ‘AA-‘ Insurer Financial Strength (IFS) ratings on rating watch negative, on the uncertainty and increased risk to Lloyd’s earnings and underwriting...
Rumbull Named Head of Willis Re Specialty in North America
Mar 31 2020 // Charles Rumball, currently executive vice president of Willis Re’s Specialty Reinsurance Division in Bermuda, is relocating to New York to assume the new role of head of Specialty for North America for Willis...
SCOR-Backed Channel Syndicate Taps Coulson from Lancashire as Senior Underwriter
Mar 31 2020 // Channel Syndicate, which is backed by reinsurer SCOR, has appointed Caroline Coulson as a senior underwriter on the political and credit risks team within SCOR Specialty Insurance, effective immediately. Coulson started on...
How Coronavirus Crisis Has Changed Underwriting at Lloyd’s of London
Mar 30 2020 // Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they...
Lloyd’s Faces COVID-19 Claims from Multiple Insurance Lines, Says CEO Neal
Mar 27 2020 // Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too...
Blenheim Gets Initial Approval from Lloyd’s to Launch New Managing Agency
Mar 27 2020 // Blenheim Underwriting announced it has been granted ‘approval in principle’ by the Lloyd’s board to establish a new managing agency. Blenheim said it can now submit an application to the Prudential...
Former Lloyd’s CEO Beale to Become Chair of South Africa’s Mediclinic
Mar 27 2020 // Mediclinic International Plc has appointed former chief executive of Lloyd’s of London, Inga Beale, as an independent non-executive director and its next chairwoman, the company said on Friday. Beale will succeed...
Texas Surplus Lines Stamping Office Postpones Launch of New Online Filing System
Mar 26 2020 // The release of the Surplus Lines Stamping of Office of Texas’ (SLTX’s) new online filing system, SMART, will be postponed due to the global coronavirus (COVID-19) pandemic. SLTX said the system was originally...
Lloyd’s Returns to Profit, Says in ‘Strong Position’ to Respond to COVID-19
Mar 26 2020 // While announcing a return to profit of £2.5 billion (US$3 billion) for 2019, Lloyd’s also affirmed that the market is in a strong position to respond to the impacts of COVID-19. Lloyd’s return to profit was...
Casino Gambles on Coronavirus Business Interruption Lawsuit Against Lloyd’s, AIG, XL
Mar 24 2020 // A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among...
Coronavirus and the Auto Exposure
Mar 24 2020 // Over the last several days the VU has fielded several auto insurance related questions. These questions cannot be classed simply as personal auto or business auto questions because the most common question involves both...
Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?
Mar 24 2020 // On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or...
Centauri Insurance’s Rating Under Review After Termination of Avatar Acquisition
Mar 23 2020 // The Financial Stability Rating (FSR) of A, Exceptional, assigned to Louisiana’s Centauri National Insurance Co. by Demotech Inc. may be subject to change as Centauri National’s parent company, Centauri...
