Latest Excess Surplus Headlines
All the headlines from our Excess Surplus Topic Page, ordered by recency.
U.S. Flood Program to Collect $1 Billion in Reinsurance for Hurricane Harvey Claims
Dec 6 2017 // The Federal Emergency Management Agency (FEMA) is seeking to recover the full $1.042 billion of its reinsurance coverage to help pay the federal flood insurance program’s losses from Hurricane Harvey. Those paid...
AIG Lures Berkshire Hathaway’s Bolt for Chief Underwriting Post
Dec 5 2017 // American International Group said Tom Bolt will join the company as chief underwriting officer, General Insurance. He will be responsible for developing a global framework for underwriting standards, authority and...
Surplus Lines Premium Up for the Year in Texas
Dec 4 2017 // Texas has recorded $4.6 billion in surplus lines premium through the end of October 2017, a 6 percent increase over the same period in 2016, according to the Surplus Lines Stamping Office of Texas (SLTX). At the annual...
People
Dec 4 2017 // Woodruff-Sawyer & Co. has named Brendan Williams its Southern California practice leader. Williams will be assuming leadership of the Southern California region in early 2018 upon the retirement of Ron Packouz, founder...
People
Dec 4 2017 // Hudson Insurance Group has added Wallace Moreman as senior vice president. In this new position, Moreman will establish a subcontractor default insurance (SDI) business for Hudson. Christopher Gallagher, president and CEO...
Randall & Quilter Sells R&Q Managing Agency to U.S. MedMal Insurer Coverys
Dec 1 2017 // Randall & Quilter Investment Holdings Ltd. announced it has completed the sale of its Lloyd’s managing agency, R&Q Managing Agency Ltd. (RQMA), to Coverys, a provider of medical professional liability...
Beazley Establishes Marine Insurance Platform In U.S.
Nov 30 2017 // Beazley has established its new U.S. marine platform with an initial focus on hull, protection & indemnity (P&I) and liability coverage for the marine and marine construction marine platform sectors. Beazley has...
Lloyd’s Pays Claims of $1.7B for Hurricanes Harvey, Irma & Maria – So Far
Nov 29 2017 // The Lloyd’s market has paid claims worth US$1.7 billion, to date, in response to Hurricanes Harvey, Irma and Maria. Earlier this year Lloyd’s estimated a total commitment of US$4.8 billion for the three...
State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy
Nov 28 2017 // Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31,...
Massachusetts SJC Issues Decision in Auto Insurance Dispute
Nov 27 2017 // The Supreme Judicial Court in Massachusetts (SJC) has answered a question regarding the priority of coverage for two automobile insurance policies covering a single motor vehicle accident. In its ruling, the SJC decided...
Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters
Nov 21 2017 // Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are...
Global Insurer Hiscox Hires Dorr in Massachusetts
Nov 21 2017 // Specialist global insurer Hiscox has appointed Glenn Dorr as head of business development and broker relationships for North America within its London market business. Dorr joins Hiscox from Lloyd’s USA, where he was...
Schiavone Takes Over Allianz Global Specialty’s Alternative Risk Team; Coppola to Head Financial Lines
Nov 20 2017 // Paul Schiavone has been appointed as global head of Allianz Global Corporate & Specialty’s Alternative Risk Transfer (ART) business, taking over from Bill Guffey who is leaving Allianz for other opportunities...
Palomar Specialty Expands Residential Earthquake Product Into Additional States
Nov 20 2017 // Palomar Specialty Insurance Co. has expanded its Flex Choice residential earthquake insurance product into the following states: Arkansas, Tennessee, Kentucky, Illinois, Indiana and Utah. Flex Choice allows consumers to...
Vault E&S Approved as Surplus Lines Insurer in Arkansas
Nov 20 2017 // A new Arkansas-based surplus lines insurer has been approved to do business in the state, according to the Arkansas Insurance Department. Vault E&S Insurance Company has been granted authority to sell property,...
Texas Surplus Lines Premium Up 6% for the Year
Nov 17 2017 // Texas has recorded $4.6 billion in surplus lines premium through the end of October 2017, a 6 percent increase over 2016, according to the Surplus Lines Stamping Office of Texas (SLTX). Providing an update at the annual...
Barbican Insurance Launches U.S. Specialty Property MGA Targeting Southeast, Gulf Coasts
Nov 17 2017 // Barbican Insurance Group has launched Barbican Specialty US, a new managing general agency (MGA) providing wholesale excess and surplus (E&S) property insurance for small-to-medium-sized commercial operations along the...
Sprowls Elected President of Texas Surplus Lines Association
Nov 15 2017 // Garrett Sprowls, general counsel and managing broker of Austin-based Professional Lines Underwriting Specialists Inc. (PLUS Inc.), has been elected president of the Texas Surplus Lines Association Inc. (TSLA). Other newly...
Prime Insurance to Write Specialty Lines in New Hampshire, Rhode Island
Nov 15 2017 // Prime Holdings Insurance Services Inc. (Prime Holdings) announced that its subsidiary, Prime Insurance Company (Prime), recently received approval to write specialty lines insurance coverage in New Hampshire and Rhode...
Prime Authorized to Write Surplus Lines in New Hampshire and Rhode Island
Nov 15 2017 // Salt Lake City, UT, Chicago, Illinois, November 15, 2017- Prime Holdings Insurance Services, Inc. (“Prime Holdings”) announced that its subsidiary, Prime Insurance Company (“Prime”), recently...
