With 2020 premium and stamping fee collections up by 14.0 percent at the end of last year, the Surplus Lines Stamping Office of Texas held a net cash position of $35.27 million at year-end, according to the annual audit completed by the CPA firm Calhoun, Thomson and...
With $334.88 million more in surplus lines premium reported for the first quarter of 2021 compared with the same period of 2020, the surplus lines market grew by 20.10 percent, exceeding last year’s overall growth by year-end of 13.98 percent. Last year’s first...
Ron Walenta, newest member of the Texas Windstorm Insurance Association board of directors, an inland representative on the board, observed, “If we buy too much (reinsurance) and we don’t use it, we’ll get criticized. If we don’t buy enough and we needed more, we’ll...
London ViewsBy LEN WILKINSLondon Correspondent Lloyd’s annual report for 2020 shows a $1.2 billion loss as net COVID-19 claims reached $4.42 billion which caused the market to hit a combined operating ratio of 110.3 percent against 102.1 percent for 2019. The $1.2...
On April 2, Florida Commissioner of Insurance David Altmaier, advised the state’s chief financial officer in a letter that American Capital Assurance Company is insolvent and that its board of directors consented to an Order of Receivership. Under the order, American...
Pennsylvania Insurance Commissioner Jessica Altman announced March 19 that the Commonwealth Court approved a petition to liquidate Bedivere Insurance Company, formerly OneBeacon Insurance Company on March 11. Through the liquidation process, policyholder claims will...
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