All the headlines from our Excess Surplus Topic Page, ordered by recency.
Jun 23 2003 // If you find placing contractors insurance these days almost as daunting as building the house, condo, apartment or other facility itself, you are not alone.A restrictive market, high minimum premiums and tighter...
Jun 23 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Jun 23 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Jun 23 2003 // Responding to the lack of availability in the construction market, AIG Excess Casualty recently introduced a new excess casualty practice for builders and contractors, AIG Construction Specialty.AIG Construction Specialty...
Jun 23 2003 // If you find placing contractors insurance these days almost as daunting as building the house, condo, apartment or other facility itself, you are not alone.A restrictive market, high minimum premiums and tighter...
Jun 23 2003 // A while back I was discussing with a colleague whether a carrier has a duty to prosecute an appeal on behalf of its insured. My initial thought was that upon the resolution of the underlying matter by a trial verdict and...
Jun 20 2003 // Vulcan Excess and Surplus Insurance Service Inc. of Riverside, Calif. announced the addition of Brenda Smotherman to it’s underwritng staff. Smotherman has 13 years in the surplus lines business with a major surplus...
Jun 19 2003 // Lloyd’s Chairman, Lord Peter Levene, told Members attending its Annual General Meeting yesterday, that “Lloyd’s has been a beacon of light. We have defied the doomsayers. And we have done more than that:...
Jun 18 2003 // Moody’s Investors Service has assigned an A3 (“Good”) insurance financial strength rating to Montpelier Reinsurance Ltd., the Bermuda-based property catastrophe and specialty property reinsurance company,...
Jun 17 2003 // Based on his “no new taxes” platform, New Hampshire Governor Craig Benson has vetoed a bill that would have reportedly raised premium taxes for surplus lines insurers. “This bill would have been a...
Jun 16 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B (Fair) from B++ (Very Good) of the New York-based MLMIC Group, removed the rating from under review, and assigned a “negative”...
Jun 13 2003 // Equitas, the runoff vehicle established by Lloyd’s in 1996 to handle claims liabilities prior to 1992, principally asbestos and environmental claims, announced decreases in its reserves for the fiscal year ended 31...
Jun 13 2003 // James Sutherland, who heads Lloyd’s Development & Strategy – Worldwide Markets, indicated that European brokers will play an increasingly powerful role in the European insurance market of the...
Jun 9 2003 // A.M. Best Co. has placed the financial strength rating of A- (Excellent) of the Atlantic Mutual Companies (The Atlantic) (New York) under review with negative implications.Concurrently, A.M. Best has placed the...
Jun 9 2003 // The U.K.’s Royal & SunAlliance announced today that it has agreed to sell Royal Specialty Underwriting, Inc. (RSUI), its U.S. surplus lines division, to Alleghany Insurance Holdings LLC for “around £72...
Jun 9 2003 // Every day, agents and brokers use financial strength ratings of insurers in their business. A carrier’s ratings may affect an agent’s ability to place risks with that insurer, or the client’s willingness...
Jun 9 2003 // One of the big issues facing small- to mid-size oil and gas operators and contractors these days is the need to determine how much risk they are willing to carry themselves and how much they want to transfer to an insuring...
Jun 9 2003 // What have you done in the last six months? Former Louisiana Commissioner Jim Brown lost 28 pounds, read 100 books, cooked for hundreds of people daily and squeezed in a weekly World Wide Web column between two book...
Jun 9 2003 // “Amateur hour is over.” Those were the words of the Sullivan Group president Gerald J. Sullivan, addressing a roomful of industry executives recently at the 9th Annual Insuring the Children Forum....
Jun 9 2003 // One of the big issues facing small- to mid-size oil and gas operators and contractors these days is the need to determine how much risk they are willing to carry themselves and how much they want to transfer to an insuring...