Surplus Lines Office: Compliance Required after Essex/Evanston Merger

The Surplus Lines Stamping Office of Texas (SLSOT) is alerting surplus lines insurance professionals in the state that due to the merger of Markel companies Essex Insurance Co. (Essex) into Evanston Insurance Co. (Evanston) on June 30, 2016, Essex has been designated as an “ineligible insurer” unable to place/write business in Texas.

Any Essex business reported to the SLSOT that was effective on or after the above date, will be assumed inaccurate. Any transactional filings should be quickly corrected to prevent ineligible reported filings.

Markel has notified policyholders via endorsement of the merger, along with confirmation that all terms and conditions will remain unchanged for the duration of that policy.

The companies merge as if Evanston wrote the business from policy inception (even if it occurred before the merger date). All policy transactions are assumed by Evanston for all current policy obligations.

Furthermore, Evanston will accept all current, properly issued certificates of insurance with Essex’s name as the carrier. This would apply to any and all in-force policies that receive a merger endorsement issued by Markel.

Source: SLSOT

Topics Mergers & Acquisitions Excess Surplus