December 2020
Surplus Line Reporter Texas
We are insurance industry professionals working
and writing about this business for over 40 years.
Articles
Amicia Hine installed as 65th president of TSLA
Amicia Hine, the new president of the Texas Surplus Lines Association, said her earliest impression of the association was attending midyear meetings, which she thought of as a working family vacation. Hine had been working a mix of part-time and fulltime at...
TSLA joins trend of annual meetings conducted virtually
The Texas Surplus Lines Association joined the ranks of associations holding state meetings virtually, a method TSLA lobbyist and general counsel Keith Strama termed “responsible” to avoid virus spread. Garrett Sprowls, conference chairman, served as emcee for the...
Lobbyist preps TSLA members for 2021 legislative session
TSLA’s lobbyist and general counsel, Keith Strama, foresees a legislative session filled mostly with state budget and COVID-19 pandemic concerns, and less activity on insurance matters. One tort reform issue is rising to lawmakers’ awareness, however, said Strama, who...
Cybersecurity a must for agents and other businesses
What are your IT systems? How sensitive is the information stored? How are you protecting it? These questions are essential for determining the extent of security measures a business needs to take to minimize cybersecurity risks and to determine how much insurance...
TWIA board proposes five percent rate hike for both residential and commercial
The newest board member of the Texas Windstorm Insurance Association Ron Walenta not only voted with the majority in passing a recommendation for a five percent rate increase on residential and commercial properties, Walenta seconded the motion for the rate hike....
Stamping office board approves soaring costs of SMART
The SMART technology system for the Surplus Lines Stamping Office of Texas took on another $2.6 million commitment for 2021, bringing the total expected project costs over $10.1 million before the system is fully implemented and SLTX staff fully prepared to take over...
Election is last WSIA in-person meeting
When Bryan Sanders was elected to serve as WSIA President, during the annual business meeting March 2 at the WSIA Underwriting Summit in Palm Springs, California, he never imagined that it would be the last in-person meeting of 2020, and maybe for his term as...
Are you in the business of risk or the business of insurance — or BOTH?
By MICHAEL G. MANES Manes and Associates From the opening lecture of every semester of Finance 3440 (Risk and Insurance) at LSU in Baton Rouge (1988 – 1998) consider: Risk is uncertainty; uncertainty is the difference between good and bad results; good is your dreams,...
Lloyd’s may be in the midst of a brave new world of profit
By LEN WILKINS London Correspondent In the last few weeks excited young underwriters have been talking about the market turning, older ones talking about realistic commercial insurance rates for the first time in years and everyone hoping for real underwriting profit....
NRA agrees to pay $2.5 million penalty to New York DFS
The National Rifle Association has agreed to pay a $2.5 million penalty to the New York Department of Financial Services (DFS), and the NRA is banned from doing insurance business in New York for five years, according to a press release issued Nov. 18 by Linda A....
The News In Brief
News In Brief
PEOPLE Brent Tredway will assume a national leadership role with CRC Group, as he and Garrett Koehn are appointed co-presidents of the company’s Brokerage Division, effective Jan. 1. Houston-based Tredway will lead the company’s efforts around carrier engagement, new...