Markel Underwriting Managers, Inc.’s (MUM) Environmental Division has released a new excess product. The Follow Form Excess product (FFE) will be considered when writing over accounts where MUM’s Environmental Division supports the underlying coverage. As in traditional Follow Form Excess …
The casino magnate who accidentally poked a hole in a Picasso painting said insurer Lloyd’s of London has offered to settle his $54 million claim of lost value, but the talks aren’t going the way he’d like. “Their offer is …
Insurers must address global climate change as they cope with the growing cost of extreme natural disasters, said Lord Peter Levene, chairman of Lloyd’s, the London insurance market. “We cannot risk being in denial on catastrophe trends,” Levene said today …
Citation Re, a New York- based reinsurance company, is making available terrorism coverage for suburban risks. This stand-alone terrorism coverage has limits up to $65 million. Citation Re also announced the promotion of Brendan Cook to vice president. Among his …
New York Marine And General Insurance Co. said it will continue writing a book of excess workers’ compensation insurance through Midlands Management Co. and that its previous reinsurance agreement with Twin Bridges, Ltd., a wholly-owned subsidiary of CRM Holdings, Ltd. …
SeaBright Insurance Co. is moving forward with plans to establish a new regional office in Atlanta. This new office will have responsibility for the company’s newly created southeastern region, comprised of selected southeastern states formerly served by its Houston office, …
The London insurance market Lloyd’s has sued former Rhode Island Gov. Bruce Sundlun, accusing him of failing to pay about $300,000 in principal and interest. But Sundlun says he doesn’t owe Lloyd’s any money, and his lawyer has asked a …
The Bermuda-based Catlin Group Limited announced plans to establish four new European offices in early 2007 in Paris, Barcelona, Zurich and Innsbruck. “The new locations will build on Catlin’s strategy to open offices in key cities worldwide to access business …
Bermuda-based Max Re Capital Ltd. announced plans to establish a U.S.-based excess and surplus lines platform. The new entity will “will complement the company’s existing insurance and reinsurance operations based in Bermuda and Dublin, Ireland,” said the bulletin. Max Re …
ACE European Group (ACE) is warning that UK businesses are exposing themselves to unnecessary environmental liability risks, simply because they continue to view specialist insurance products as too expensive and overly complicated. Alongside a limited understanding amongst many UK businesses …
