excess & surplus lines News

Broker Not Liable for Late Notice that Cost Illinois Client $1.34M

An Illinois construction company that waited six years to inform its excess insurer that it had been sued cannot expect coverage from that carrier, and it can’t go after the insurance brokerage that sold it the policy either, a federal …

LP Risk Acquires Wholesale Insurance Broker, Houston Surplus Lines

Texas-based managing general agency and surplus lines broker, LP Risk, has acquired the assets and operations of Houston Surplus Lines, an independently owned wholesale insurance brokerage. Houston Surplus Lines team will become a part of LP Risk and will expand …

Fewer E&S Flood Insurance Policies in Texas Coastal Counties Post-Harvey

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 August 2017. In the months after …

Hanover Insurance Enhances Specialty Leadership; Mills to Lead E&S

The Hanover Insurance Group has expanded its specialty leadership team to enhance as part of a series of personnel changes the company has made to its specialty business over the last year. The Hanover announced it has appointed Steven M. …

Barbican Insurance Launches U.S. Specialty Property MGA Targeting Southeast, Gulf Coasts

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 southeastern coast of the United States. Based in Atlanta and Kansas City, …

Future of State Auto Insurance Group’s E&S Business Under Review

Columbus, Ohio-based State Auto Insurance Group (State Auto) is reviewing options for its excess and surplus (E&S) lines business, including a possible sale, the company said in an announcement. State Auto has a market valuation of about $981 million, according …

Industrial Insurer HDI Global Forms Excess Surplus Lines Carrier

Industrial insurer HDI Global Insurance Co. (HDI) has formed an excess and surplus lines subsidiary, HDI Specialty Insurance Co. The new platform will “bring European expertise and solutions” to the alternative energy, private public partnerships (P3s), and design-build construction markets, …

WestCongress Insurance Services Opens in Detroit

WestCongress Insurance Services LLC, a newly created managing general agent (MGA) for the specialty commercial insurance marketplace, has opened in Detroit. WestCongress will focus on excess and surplus (E&S) lines coverage in niche and underserved segments. The company’s initial product …

Patrick Ryan on Today’s E&S Business and Using Aon Experience to Build RSG

After a notable 50-year insurance career that has included starting and leading two highly successful insurance brokers, 79-year-old Patrick Ryan didn’t mince words when asked if he will ever retire: “No.” Many thought that retirement was Ryan’s plan when he …

Lloyd’s America Chief Says E&S Sector ‘Best Kept Secret’

If insurance is the best kept secret in the business world, then the E&S sector is the best kept secret in the insurance industry. That’s according to Hank Watkins, president of Lloyd’s America, who talked fondly on Thursday about excess …