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In 1999, the company acquired Texas-domiciled National Specialty Insurance Company (NSIC), an insurance company then licensed to write business in 21 states, and later expanded its licensing to 50 states and D.C. In 2006, the company formed Delaware-domiciled United Specialty Insurance Company (USIC) to write coverage on an excess and surplus ...
In 2008, Cincinnati began writing excess and surplus lines insurance under a new subsidiary called the Cincinnati Specialty Underwriters Insurance Company. [citation needed] MSP Underwriting, a global specialty underwriter, was acquired in February 2019, and was rebranded Cincinnati Global Underwriting Ltd. on May 1, 2019.
Although surplus line insurers are still regulated by the states (or countries) in which they are actually admitted, the disadvantages of obtaining insurance from a surplus line insurer are that the policy will usually be written on a nonstandard form (that is, not from the Insurance Services Office), and if the insurer collapses, its insureds ...
The company was founded in 2006, with more than $1 billion in equity, by Robert Clements and his son John Clements, two long-time insurance investors. [ 7 ] [ 8 ] [ 9 ] Ironshore named Kevin Kelley as CEO in December 2008.
In 1980, the company became an insurance carrier when Essex Insurance Company was incorporated and licensed to write excess and surplus lines business. [5] In 1986, the Markel Corporation was listed on the NASDAQ exchange, with an IPO offered at $8.33 per share. The company's trading was moved to the NYSE in 1997. [6]
Those approaching retirement can now buy a type of “insurance” to guard against reduced Social Security benefits. Social Security 'insurance:' Company offers product to protect against surplus ...
Starr is an insurance and investment organization with a presence on six continents; through its operating insurance companies, Starr provides property, casualty, and accident and health insurance products, as well as a range of specialty coverages, including aviation, marine, energy and excess casualty insurance. [1]
Sentry provides specialized insurance programs to customers in specific industries as well as very large companies with complex risk. [5] [6] [7] Sentry is one of the nation’s largest mutual insurance companies. As of December 31, 2021, the company has assets of more than $23.9 billion and a policyholder surplus of over $8 billion.