Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
Last Chance: Future-at-Lloyd’s Consultation Period Ends Today
Jul 10 2019 // Today is the last day when Lloyd’s market practitioners can provide input to the Future at Lloyd’s project, which was first announced on May 1. Chief Executive Officer John Neal at the time encouraged...
Berkshire Hathaway’s Leeks Joins Everest Insurance as Lloyd’s Syndicate Underwriter
Jul 9 2019 // Everest Insurance International announced the addition of Martin Leeks to its Lloyd’s Syndicate 2786 as a medical malpractice and multi-national/ specialty underwriter. Leeks will be responsible for the development...
Fewer E&S Flood Insurance Policies in Texas Coastal Counties Post-Harvey
Jul 9 2019 // The organization that keeps track of excess and surplus policies sold in Texas says the number of E&S flood insurance policies in place in the state’s coastal counties declined after Hurricane Harvey hit in...
Pool Re Buys Non-Damage BI Retro Cover in Program Led by Liberty Specialty
Jul 8 2019 // Pool Re, Britain’s terrorism reinsurer, announced the placement of its new retrocession program covering non-damage business interruption (NDBI) losses. The program incepted on July 5. The Counter-Terrorism and...
Lloyd’s to Require Cyber Cover Clarity in Re/Insurance Policies
Jul 8 2019 // Lloyd’s of London wants all insurance and reinsurance policies to clearly state whether coverage will be provided for losses caused by a cyber attack, saying this was in the best interest of both brokers and...
Lloyd’s Sets Targets for Risks Placed Electronically for Remainder of 2019
Jul 3 2019 // Lloyd’s has confirmed the mandated targets for electronic placement of risks for the remainder of 2019. For Q3 2019 each syndicate will be required to have written no less than 60% of its risks using a recognized...
Commentary: Surplus Lines Support Florida’s Vibrant Insurance Market
Jul 3 2019 // The Sunshine State is one of the top three consumers of surplus lines insurance in the country. As Florida focuses on attracting jobs and welcoming opportunity, the surplus lines insurance industry is helping the...
Lloyd’s Appoints Rigby as Chief Operations Officer
Jul 2 2019 // Lloyd’s of London announced that Jennifer Rigby has been appointed chief operations officer (COO). Rigby has been performing the role on an interim basis since March this year, following the departure of former COO...
U.S. Risk Insurance Group Finalizes Sale to USI Insurance Services
Jul 2 2019 // Dallas, TX, July 2, 2019 – U.S. Risk Insurance Group (U.S. Risk), one of the nation’s largest property and casualty program and specialty brokerage firms, today announced the completion of its previously announced...
Private Flood Market Grows, Again: Report
Jul 1 2019 // The private flood insurance grew again in 2018 but not nearly as much as it grew in 2017. According to the recently released Carrier Management report on “Top Private Flood Insurers, 2019 Market Study,” during...
People
Jul 1 2019 // National American International Group said Kathleen Zortman will join the company as president and CEO of Private Client Group, General Insurance. In this new role, Zortman will lead AIG’s global high net worth...
Chubb, Hiscox, Tokio, Other Lloyd’s Underwriters Form Innovation Facility to Insure Emerging Risks
Jun 26 2019 // A group of Lloyd’s underwriters has launched a new facility with £53 million ($67.5 million) of capacity that is designed to speed up re/insurance product development for new and emerging risks. The Product...
Specialty Broker Ed Expands to Bermuda
Jun 25 2019 // Reinsurance and specialty broker Ed said it has received regulatory approval from the Bermuda Monetary Authority for its new operation in Bermuda. Ed Bermuda will provide its multiline broking services through TradEd, its...
Tokio Marine Puts UK Insurer into Run-Off, Now Focusing on Lloyd’s Business
Jun 25 2019 // Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd’s businesses. The run-off plan will be...
Lloyd’s Suspends Broker Over Harassing Email
Jun 25 2019 // Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and is planning to take similar action against a second person who...
As Lloyd’s Jettisons Some Marine Insurance Lines, Opportunities Created for Rivals
Jun 24 2019 // Rivals to Lloyd’s of London are riding a rising tide of marine insurance rates, leaving the 330-year-old market behind after it jettisoned sections of its oldest line of business last year. Premiums for marine...
R&Q’s CEO to Step Down, Succeeded by Co-CEOs Quilter and Sellek from AM Best
Jun 20 2019 // Randall & Quilter Investment Holdings Ltd. the non-life legacy insurance investor and capacity provider of U.S. and European MGA program business, announced that Ken Randall will step down as group CEO, but will...
Lloyd’s Gathers Group of Industry Heavy-Hitters as Advisers for Its Future Strategy
Jun 20 2019 // Lloyd’s has gathered a group of industry heavy-hitters — such as Evan Greenberg at Chubb, Dan Glaser at Marsh & McLennan, and John Haley at Willis Towers Watson — to sit on advisory committees that...
Tower Hill Specialty Expands Into Arkansas
Jun 20 2019 // Tower Hill Specialty is now offering manufactured housing and dwelling fire insurance policies in Arkansas. Optional coverage features include equipment breakdown and service line endorsements. The equipment breakdown...
Latest Shift in Growth Strategy at Lloyd’s Calls for More U.S. Business
Jun 19 2019 // Lloyd’s of London Ltd. is meeting with major U.S. insurers about driving more business through its global insurance market, Chief Executive Officer John Neal said on Wednesday. The 330-year-old insurance market,...
