All the headlines from our Excess Surplus Topic Page, ordered by recency.
Jul 13 2011 // Louisiana is now participating in an agreement designed to help states efficiently comply with the requirements of the federal surplus lines regulations that become effective later this month. Insurance Commissioner James...
Jul 12 2011 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during May 2011 include six license revocations, two license denials and fines and restitution totaling $217,756.An order imposing...
Jul 7 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 1084. In addition...
Jul 5 2011 // Lloyd’s announced that Mark Patterson has joined Lloyd’s as the new Controller of Agencies and David Lawrence has been promoted to Deputy Controller.Patterson joins Lloyd’s from a marine insurance career...
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28, 2011. David H. Long replaced Kelly as president and CEO. Kelly will continue to serve as chairman of the board of...
Jul 4 2011 // California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home...
Jul 4 2011 // Florida, Mississippi and Hawaii have entered into an agreement that will allow them to keep millions of dollars in taxes on surplus lines insurance policies.The agreement was the result of federal legislation – the...
Jul 1 2011 // Lloyd’s Novae Group plc announced that it has informed the advisers of Omega Insurance, another Lloyd’s insurer that it “has withdrawn from merger discussions.”Novae said it has “concluded...
Jul 1 2011 // As levels of international trade and the importance of emerging economies increase, Lloyd’s has been very active in its efforts to open up access to overseas markets. However, in an article on its web site it called...
Jun 30 2011 // Five Star Specialty Programs, a division of Crump Insurance Services, Inc., and part of Crump Group, Inc., has launched towing and recovery coverage, designed for professional towing and repossession industries. The...
Jun 29 2011 // Mitsui Sumitomo at Lloyd’s has appointed Graeme Rayner as Head of Underwriting, Property and Casualty, in a move it described as designed to drive “growth in the UK and Irish markets.”Rayner, who was...
Jun 23 2011 // XL Insurance has named Roxanne Mitchell as president of its Excess and Surplus lines unit, reporting to Seraina Maag, chief executive, North America Property & Casualty. Mitchell will be based in XL’s Chicago...
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Jun 20 2011 // Florida, Mississippi and Hawaii have entered into an agreement that will allow them to keep millions of dollars in taxes on surplus lines insurance policies.The agreement was the result of federal legislation — the...
Jun 17 2011 // California is expected to pass surplus lines regulations before July 21, 2011. On that date, the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA) becomes effective, and only the “insured’s home...
Jun 16 2011 // Ox Bonding has expanded its specialty bonding programs into Florida. Ox Bonding’s affiliate insurance carrier, Upper Hudson National Insurance Co., has obtained approval from the Florida Office of Insurance...
Jun 14 2011 // Loss and loss adjustment expense reserve development has traditionally been the focus of actuaries, auditors and financial analysts. Statutory insurance accounting financial reporting contains several measures that can be...
Jun 14 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of The Hanover Insurance Group Property and Casualty Companies and its members....
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...