Direct premium volume for the surplus lines insurance market remained relatively flat in 2005 as it did in 2004, after growing significantly during the three prior calendar years. The significant growth had been a consequence of the hardening market conditions …
Markel Corporation launched what it termed a “new and unique insurance product: Outbreak(SM) Extra Expense Coverage,” in mid-July. The policy is specifically designed to protect companies from a closure of their business premises due to a variety of contagions, including …
Lloyd’s has placed detailed information on U.S. surplus lines brokers on its Website www.lloyds.com/us. The information available will “help the market verify the license details of surplus lines brokers.” The links go to state databases of licensed intermediaries. “Surplus lines …
Columbus, Ohio-based Century Surety Co., a subsidiary of ProCentury Corp., announced today that it is adding a new line of business to serve the needs of the ocean marine market. According to their written statement, this line is consistent with …
Dallas-based RISC announced that Beth Winstead has been promoted to senior vice president in its Brokerage Department. Winstead joined RISC in 1997 as a casualty broker and has been one of its most consistent performers since that time, the company …
Markel Corporation in Richmond, Va. said it will hold a conference call on Wednesday, August 2, 2006 beginning at 10:30 am (Eastern Daylight Savings Time) to discuss quarterly results. Investors, analysts and the general public may also listen to the …
The House Financial Services Committee has approved legislation that would apply single-state regulation and uniform standards to the nonadmitted insurance and reinsurance marketplace. Chairman Michael G. Oxley (Ohio) convened a full committee markup yesterday at which H.R. 5637, the Nonadmitted …
American Safety Insurance Services, Inc. says it will enter the general liability market for non-construction risks and expand its capability to offer excess and umbrella liability coverage. The target market for the non-construction coverage will be primary general liability for …
Federal legislation to reform the way surplus lines insurance is regulated has been approved by a House subcommittee. The Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, chaired by Rep. Richard H. Baker (La.), approved H.R. 5637 by voice …
A Northeast hurricane hitting New York state could result in insured losses of $65 billion, Lloyd’s America President Wendy Baker warned today. “The stakes are huge,” Baker said in a speech to the Northeast Hurricane Conference in Manhattan. “Considering Manhattan …
