Specialty News

Over 20 New E&S Entrants Reshaping Marketplace: RPS

Wholesale broker Risk Placement Services (RPS) said more than 20 new insurance companies and managing general agents have entered the excess & surplus marketplace over the last couple of years – and they may be more aggressive than incumbent insurers. …

James River Reserve Charge, ‘Strategic Actions’ Won’t Damage AM Best Rating

AM Best announced March 1 that the rating agency won’t change the A- (Excellent) financial strength ratings for the operating subsidiaries of James River Group Holdings, Ltd., a day after the insurer announced a fourth-quarter loss $66.2 million. The bottom-line …

Applied Underwriters to Buy Catlin Specialty From AXA XL

Applied Underwriters said it will acquire Catlin Specialty Insurance Company from the AXA XL group of companies. Applied said it will consolidate Catlin into the North American Casualty group of companies in a move intended to bolster Applied’s operating capabilities …

Agency’s Specialty Portfolio Often Fragmented by Working With Multiple Carriers

The Hanover Insurance Group recently released its State of Specialty Insurance Report, which highlights the risks of fragmentation in the marketplace. The report spotlights the advantages agencies realize when they create strategic partnerships with select carriers that offer broad capabilities …

Custard Adjusts Recipe, Acquires Specialty Group

Custard Companies, parent organization to Custard Insurance Adjusters, has acquired Florida-based Specialty Group Inc., an investigations and third-party administrator firm. Specialty, which opened in 1995, provides investigations and adjustments in all lines, including casualty and workers’ compensation claims, along with …

E&S Insurer Ategrity Raises $75M, Plans Further Expansion

Ategrity Specialty Insurance Co. sad it has completed a $75 million capital raise led by Sequentis Financial LLC to support its continued growth. Ategrity is a Scottsdale, Arizona-based specialty property/casualty insurance company focused on the excess and surplus lines market …

Cannabis Broker Spotlight: Schutz with NIF Group is a ‘Cannabis Ninja’

Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips for …

Digital E&S Broker Pathpoint Offers Multiple Cyber Quotes to Retail Agents

Pathpoint, a digital excess and surplus lines insurance broker, said it is offering a new capability to independent retail agents: access to multiple cyber insurance quotes through a single online application containing only nine underwriting questions. The new product allows …

Obsidian Specialty Insurance Company Receives A- Rating from AM Best

AM Best has assigned the recently-formed excess and surplus (E&S) lines insurer, Obsidian Specialty Insurance Company, a financial strength rating of A- (Excellent). Obsidian Specialty is a program fronting carrier serving managing general agents, managing general underwriters and program managers. …

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. …