All the headlines from our Excess Surplus Topic Page, ordered by recency.
Sep 26 2012 // Lloyd’s of London’s first six months of 2012 financial figures couldn’t evince a greater difference from those posted in the first half of 2011. It posted profits of £1.53 billion ($2.47...
Sep 25 2012 // A Massachusetts court recently ruled in favor of insurer Lloyd’s in a dispute over a commercial property and general liability policy excluding coverage for independent contractors.The insured, a property development...
Sep 24 2012 // A plan by Florida’s state-backed property insurer to loan private insurers millions of dollars in surplus in exchange for removing policies has not been properly vetted and is a sweetheart deal for a few insurers, a...
Sep 24 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of AXIS Specialty Limited and its operating affiliates, as well as the ICR...
Sep 24 2012 // Florida’s state-backed property insurer is considering investing in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The move is an attempt by...
Sep 19 2012 // Independent agents and their companies have over the years been beaten in the personal lines market by direct response carriers and captive agents.But being down so long means there is plenty of room for independent agents...
Sep 19 2012 // North Carolina-based insurance wholesaler AmWINS Group Inc. said it has partnered with two insurance industry executives, Terry Younghanz and Richard Parks, to form a new managing general underwriter (MGU) focused on...
Sep 18 2012 // The Ryan Specialty Group (RSG) announced that it would “significantly strengthen its MGA and third party administration (TPA) capabilities in the UK” with an agreement to acquire insurance services provider...
Sep 18 2012 // Home Value Insurance Co. was ordered into rehabilitation by an Ohio court on Aug. 31, 2012, and has been prohibited from selling insurance in the state due to its failure to maintain minimum capital and surplus.The...
Sep 17 2012 // A bulletin from Lloyd’s notes that “high potential employees from US broking firms will spend the coming week in London, standing in the shoes of the Lloyd’s underwriter and gaining a detailed...
Sep 14 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the Bermuda-based Catlin Insurance Company...
Sep 12 2012 // Florida’s state-backed property insurer is considering for the first time whether to invest in private insurers to the tune of $350 million, with the hopes these insurers would then take up to 300,000 policies. The...
Sep 12 2012 // A federal judge says a trucking company’s insurer must cover some of the claims associated with the spill of a sticky goo over a 40-mile stretch of the Pennsylvania Turnpike last year. U.S. District Judge Joy Flowers...
Sep 10 2012 // Independent agents and their companies have over the years been beaten in the personal lines market by direct response carriers and captive agents.But being down so long means there is plenty of room for independent agents...
Sep 10 2012 // A new Florida law seeks to reduce the regulatory burden on agents and adjusters by consolidating some licenses and revamping the education classes they must take.Among the changes: insurance adjusters and agents operating...
Sep 7 2012 // Louisiana-based Specialty Risk Associates Inc. has made two promotions within its Shreveport office.Kelly Babin assumed the position of controller. Babin, a Certified Public Accountant, joined Specialty Risk in 2010 as...
Sep 6 2012 // Mitsui Sumitomo at Lloyd’s announced the promotion of Stuart Wood to Class Underwriter for Professional Indemnity (PI) within its Professional Lines operation.Wood joined Mitsui Sumitomo at Lloyd’s in 2009. He...
Sep 4 2012 // Lloyd’s has announced two top level executive appointments. Vincent Vandendael will take over as Director – International Markets, and Bruce Van Saun has been appointed as an independent non-executive director...
Aug 29 2012 // A new report on the Lloyd’s insurance market by Guy Carpenter & Co. finds that “Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns,...
Aug 28 2012 // Lloyd’s of London says the liability insurance it provides for the Ashland Gun Club in Oregon covers bodily injury and property damage, but it won’t pay any damages related to lead contamination from...