All the headlines from our Excess Surplus Topic Page, ordered by recency.
Oct 18 2023 // A cyber attack on a major financial services payments system could result in widespread business disruptions, potentially costing the global economy $3.5 trillion over a five-year period, according to research from...
Oct 17 2023 // Asta, the leading third-party managing agent at Lloyd’s, and Oka, the Carbon Insurance Company, announced that Lloyd’s has granted “in principle” approval for Oka syndicate-in-a-box (SIAB) 1922.Oka...
Oct 11 2023 // Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace...
Oct 6 2023 // AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a” (Excellent) of Dover Bay...
Oct 5 2023 // Coalition’s Executive Risks Insurance Now Available On Surplus Lines PaperCoalition announced its executive risks insurance products are now available on surplus lines paper, making comprehensive management liability...
Oct 4 2023 // Just two days before his criminal trial started this week in federal court in New York, FTX Trading founder Sam Bankman-Fried filed suit in federal court in California against his excess insurance company seeking payment...
Oct 2 2023 // Total U.S. surplus lines direct premiums written (DPW) rose by 19.2% to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a new AM Best report.Best’s...
Sep 28 2023 // RT Specialty, the wholesale distribution division of Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, announced its continued expansion of RT Connector, which provides digital solutions for...
Sep 25 2023 // The West Virginia Office of Insurance Commissioner is accepting comments on potential changes to the state’s surplus lines export list, through Oct. 16. By state law, the office maintains a list of coverages and...
Sep 22 2023 // Trium Cyber, a Lloyd’s cyber specialist, announced that the US-based company has opened a London office to write coverage for clients based outside of the US.“Our advanced technical underwriting, outstanding...
Sep 21 2023 // Lloyd’s of London is teaming up with the United Nations Capital Development Fund (UNCDF) to try and improve access to insurance for climate vulnerable countries, with an initial focus on Fiji and Pacific island...
Sep 20 2023 // Nirvana, the London-based media, tech and cyber managing general agent (MGA), has launched its new European SME Warranty and Indemnity (W&I) binder.The team has a total available line size of €20 million ($21.4...
Sep 19 2023 // Canopius Group, the London-based specialty re/insurer, announced the strategic expansion of its U.S. casualty business with its entry into the domestic U.S. excess casualty market on Canopius U.S. Insurance Co....
Sep 18 2023 // Dale Underwriting Partners, the trading name for Dale Managing Agency’s Lloyd’s Syndicate 1729, has agreed a strategic partnership with CVC, a leading global private markets manager with €161 billion of...
Sep 14 2023 // Total U.S. surplus lines direct premiums written (DPW) rose by 19.2% to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a new AM Bestreport.The new...
Sep 13 2023 // RT Specialty Promotes Mitchell to President of Workers’ Compensation PracticeRT Specialty promoted Jim Mitchell to national workers’ compensation practice president. Mitchell has been with RT Specialty since...
Sep 8 2023 // Lloyd’s syndicate Probitas 1492 has announced the launch of a special purpose arrangement (SPA) for the 2024 year of account (YOA), after receiving in-principle approval from Lloyd’s.The SPA, called “AdA...
Sep 8 2023 // Lloyd’s of London is in talks with the United Nations over providing insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached, its CEO John Neal told Reuters on Thursday.NATO...
Sep 7 2023 // Growing fears about the state of the world are pushing more people to take out insurance even as prices rise, Lloyd’s of London Chief Executive Officer John Neal said.Rising inflation, recession worries, climate...
Sep 6 2023 // The U.S. excess and surplus (E&S) lines market had a good year in 2022, growing to account for nearly 9% of the U.S. property/casualty (P/C) insurance industry.E&S direct written premiums (DWP) increased for the...