Headlines from our Excess Surplus Topic Page with the most time spent reading.
Dec 13 2023 // A federal appeals court has declared that New York law prevents Lloyd’s from recovering some loss payments from Zurich American because Zurich’s insured was also an insured of Lloyd’s in a case involving...
Dec 11 2023 // This edition of International People Moves details appointments at Allianz Global Corporate & Specialty SE (AGCS) and Lloyd’s Europe.A summary of these new hires follows here. Papanikolaou to Succeed Mueller as...
Jun 3 2024 // AIG is “a different company” today than it was when CEO Peter Zaffino joined the company in 2017, but like the old AIG, the new one is poised to grow again, he said.The former executive of Marsh, who recalled...
Nov 29 2023 // CFC, the London-based managing general agent, announced that its founder and group CEO, David Walsh, and Graeme Newman, CEO of CFC Underwriting, will be exiting the company following the completion of an investigation by...
Dec 18 2023 // Society of Lloyd’s, better known as Lloyd’s of London, has reached an agreement to remain in its One Lime Street headquarters until at least 2035, the Financial Times reported.The deal with landlord Ping An...
Oct 3 2024 // While the Lloyd’s market reported its best first-half profit in 17 years, it isn’t resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified.During a recent...
Jan 23 2024 // The 5th U.S. Circuit Court of Appeals ruled last week that Southwest Airlines can continue to seek reimbursement under its Liberty Mutual cyber risk policy for costs incurred during a 2016 massive computer failure.An...
Sep 16 2024 // The property/casualty insurance industry and excess and surplus lines brokers in particular are at the world’s beck and call to help navigate what is an increasingly risky environment. The industry continues to...
Jan 31 2024 // A key Florida Senate committee this week advanced a bill that would allow surplus lines carriers to take over coverage of second homes from Citizens Property Insurance Corp. Reaction by agents and brokers was mixed.The...
Dec 13 2023 // Ryan Specialty said it has formed an international financial lines managing general underwriter (MGU), Ryan Financial Lines.This MGU is being created by unifying the operations of EmergIn Risk, led by Jamie Bouloux;...
Mar 11 2024 // Lloyd’s strong 2023 results reaffirm the primacy of underwriting, “but it’s one year and therefore not a reason for complacency,” said Patrick Tiernan, chief of markets, in a market message to...
Apr 8 2024 // Executive Summary: Specialty insurance has experienced significant growth in recent years. Greg Gaydos, senior business development executive at Zywave, looks at the reasons and advises how to best take advantage of its...
Feb 19 2024 // As we continue into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a December 2023...
Jan 11 2024 // As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a mid-December...
Feb 9 2024 // A Texas public adjuster committed willful infringement when he formed a corporation and a limited liability company with the names “Certain Underwriters at Lloyds London, Inc.” and “Certain Underwriters...
Sep 16 2024 // Wholesale insurance teams are up for a challenge, and they need to be. Rising rates, shrinking appetites, hurricanes, wildfires and increased demand mean those working in the excess and surplus (E&S) sector are facing...
Jul 17 2024 // Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers.The Florida Surplus...
Sep 6 2024 // Now that the market has achieved a first-half profit of £4.9 billion with a combined ratio of 83.7—its best interim results in 17 years—does this mean the hard market cycle is ending?During a media briefing to discuss...
Mar 28 2024 // Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John...
Dec 21 2023 // (Bloomberg) — Citgo Petroleum Corp. was awarded an insurance payment of more than $54 million for almost 1 million barrels of crude seized by the Venezuelan government.A jury in federal court in Manhattan decided...