All the headlines from our Excess Surplus Topic Page, ordered by recency.
Sep 5 2013 // Chubb’s London office announced the availability of cyber security insurance through its Lloyd’s Syndicate, Chubb 1882. It is “based on Chubb’s successful US offering, the product combines...
Sep 5 2013 // A.M. Best has been studying the recent innovation in the London insurance market, exemplified by the arrangement between Aon and Berkshire Hathaway announced in March, which automatically shares a percentage of premiums...
Sep 5 2013 // A flood of investment capital into structures linked to insurance could lead to instability and spark a new financial crisis if left unsupervised, a top official has warned.Billions of dollars from investment funds has...
Sep 3 2013 // Former Lloyd’s Chairman Max Taylor Joins Pioneer Underwriting BoardRecently formed – April 2011 – Pioneer Underwriting Limited announced that industry veteran Max Taylor has been appointed as Chairman of the...
Aug 29 2013 // Ironshore Inc.’s Specialty Casualty unit has introduced a new policy form for excess liability risks to provide a more concise coverage option for insurance brokers and insureds. Ironshore’s...
Aug 29 2013 // A New York regulatory investigation of Lloyd’s of London for possible violations of Iran sanctions law has led to a government request for files of an internal probe by the insurer, a person familiar with the matter...
Aug 28 2013 // The American Association of Managing General Agents (AAMGA) has decided to expand its membership to include all wholesale insurance professionals, while keeping its original name.Membership will now be open not only to...
Aug 26 2013 // Specialty Underwriters & Risk Evaluators LLC has acquired Jackson, Mich.-based WSIB Insurance Agency from the Capacity Group of Companies, headquartered in Mahwah, N.J.WSIB currently operates as a wholesale broker and...
Aug 23 2013 // Coventry Risk Specialty, an MGA focused on the construction industry, has launched a new Builders Reporting Policy (BRP) product for the construction industry. Coventry is the countrywide exclusive underwriter and will...
Aug 22 2013 // MarketScout Corp., an insurance distribution and underwriting company headquartered in Dallas, announced it has acquired 100 percent of the stock and assets of MSW. MSW will convert from a generalist brokerage to a...
Aug 21 2013 // International Excess Program Managers, based in Cleveland, Ohio, has added George C. Schmid to its executive team. Schmid, an insurance industry veteran, will be taking on the role of vice president of program...
Aug 21 2013 // The Maryland Insurance Administration issued a bulletin this week summarizing new insurance legislation from the Maryland General Assembly’s 2013 session that have been signed into law by Gov. Martin O’Malley....
Aug 21 2013 // Suncorp Group Ltd., an Australian lender and insurer, posted a 32 percent decline in full-year profit in line with its guidance last month.Net income for the year to June 30 was A$491 million (US$443 million) compared with...
Aug 20 2013 // Ironshore Inc.’s Specialty Casualty unit is launching a new claims-made policy form to complement its suite of products and services available to the commercial general liability market for prospective insureds...
Aug 16 2013 // Berkshire Hathaway Specialty Insurance — the recently launched commercial P/C insurance unit of Berkshire Hathaway — announced on Thursday the appointments of Leo Carroll as senior vice president, healthcare...
Aug 14 2013 // Surplus Line Association of California Executive Director Benjamin J. McKay was named to the Insurance Industry Charitable Foundation’s Western division board of directors.The IICF board is comprised of industry...
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
Aug 9 2013 // An interesting case was recently decided by the Georgia Court of Appeals. In Garner and Glover Co. v. Barrett, 738 S.E.2d 721 (Ga. App. 2013), the issue was the duty of an insurance producer to notify an excess insurer...
Aug 9 2013 // A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 2010,...
Aug 7 2013 // UK non-life insurer Mitsui Sumitomo at Lloyd’s has hired two experienced underwriters as its Syndicate 3210 seeks to diversify its products and distribution to capitalize on significant international...