All the headlines from our Excess Surplus Topic Page, ordered by recency.
Jul 18 2005 // Bush Administration Policy Questions Need for Renewal of Federal BackstopAsked what the world would be like if there were no federal terrorism insurance backstop, the Treasury Department simply shrugged. The loss of the...
Jul 18 2005 // The most significant Texas insurance case this year is the Texas Supreme Court’s recent opinion in Excess Underwriters at Lloyds, et al v. Frank’s Casing Crew & Rental Tools, Inc., No. 02-0730 (Tex., May...
Jul 18 2005 // The surplus lines industry pendulum is now on its backswing into a soft market. A couple years of market restriction and firm pricing brought a temporary prosperity to the industry. The so-called “standard”...
Jul 15 2005 // Carnival and circus owners and others involved in the amusement industry are being warned to verify the status of insurance coverage, according to the Kentucky Department of Agriculture and the Kentucky Office of...
Jul 14 2005 // A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Beazley Insurance Company, Inc. (BICI) (Omaha, NE), a newly formed U.S. insurer that is part of...
Jul 14 2005 // Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses.Powered by the best underwriting results in almost three decades,...
Jul 13 2005 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of A (Excellent) and the issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 1084 (United Kingdom).At the same time, A.M. Best has affirmed...
Jul 12 2005 // Risk Management Solutions (RMS) announced that Lloyd’s has licensed the RiskLink catastrophe modeling software which will be used by the Loss Modeling team. This license agreement is a testament to the continuing...
Jul 7 2005 // Rebecca Banks has joined Excess & Surplus Lines Insurance Brokers Inc. as a surplus lines broker. Banks will be responsible for developing new agencies and adding new carriers for brokerage business. She has served as...
Jul 6 2005 // Germany’s Hannover Re, the world’s third largest reinsurer, announced the adoption of a new strategy for its U.S. subsidiary Clarendon at its annual “Investors Day” press conference on Friday, July...
Jul 5 2005 // Brown & Brown Inc. announced a program alliance with ACE Westchester Specialty Group. Effective July 1, 2005, ACE Westchester Specialty Group will provide coverage through ACE American Insurance Company and other...
Jul 5 2005 // AIG Excess Casualty, a division of the property and casualty insurance subsidiaries of American International Group Inc. (AIG), has rolled out a new online database of real-world claim scenarios designed to serve as an aid...
Jul 4 2005 // Nearly five years ago, a group of program specialists gathered in Tempe, Ariz., for the first summit meeting of a budding industry organization called the Target Markets Program Administrators Association. The brainchild...
Jul 4 2005 // Steve Way Has Built Giant HCC Holdings Via Acquisitions and He’s Not Done YetManaging general agents and program administrators have an admirer with deep pockets in Steven Way. Getting some of that money might be one...
Jul 4 2005 // Recent insurance industry investigations have begun to put prior finite reinsurance transactions under a microscope, creating the need to re-examine this reinsurance product, but more importantly determine its role in the...
Jul 1 2005 // A.M. Best Co. announced that it has affirmed its Syndicate Rating of “A” (Excellent) and the issuer credit rating of “a” of Lloyd’s Syndicate 3000 which is managed by Markel Syndicate...
Jun 30 2005 // The following is the Introduction and the Executive Summary of the June 30, 2005 report from the Treasury Department on the Terrorism Risk Insurance Act of 2002 including its assessment of the act and recommendations for...
Jun 30 2005 // The Houston office of American E&S recently announced a new Oil and Gas Insurance program. The program focus is Oil and Gas Exploration and Production Companies. This new program features Control of Well insurance...
Jun 29 2005 // Bermuda-based Aspen Insurance Holdings Limited announced that it is updating its guidance relating to annual growth in its gross written premiums for 2005. The company now expects growth between 20 and 25 percent higher...
Jun 22 2005 // The New Jersey Surplus Lines Association board of directors announced the hiring of Vicky Nelson as the association’s new executive director. She replaces Margaret Raphael who officially exited the post in...