property insurance News

Heritage Insurance Launches Commercial Residential Program

Heritage Insurance Holdings, Inc. has launched a new insurance program for commercial residential properties in Florida. The new line will be written by Heritage’s wholly-owned subsidiary, Heritage Property & Casualty Insurance Co. Randy Jones, commercial president, says the commercial residential …

American Integrity Insurance Launches High Value Home Insurance

American Integrity Insurance Group, a Florida residential, new business property insurance company, will now offer a policy designed for Floridians with owner occupied, primary residences valued from $750,000 to $1.5 million. In addition to the coverage provided for the dwelling …

Everest Re’s Special Purpose Reinsurer Reaches $370 Million of Capacity

Everest Re Group, Ltd.’s special purpose reinsurer, Mt. Logan Re, Ltd., has secured additional funding, which brings current committed capacity to $370 million, above its initial target funding of $250 million. Mt. Logan Re, which was formed in early 2013, …

Marsh Launches Habitational Real Estate Property Insurance Facility

In response to the increasingly constricted habitational insurance market, Marsh has created a new property insurance facility designed specifically for those who own or are investors in multifamily properties. Marsh’s PRIME Habitational Property Insurance Facility was developed in collaboration with …

New York’s Top Court Clarifies Vandalism Insurance

The top New York court says property insurance against vandalism includes coverage for malicious damage that isn’t specifically aimed at the insured property. The ruling comes from a claim by Georgitsi Realty, owner of a four-story apartment building in Brooklyn, …

Univ. of Louisiana-Lafayette Gets Grant for Disaster Database

A research center at the University of Louisiana-Lafayette has received a $1.3 million grant to build a tool to educate property owners about the potential for flooding or other risks in their area. The Advocate reported the university’s National Incident …

Louisiana Researchers Studying Coastal Land Values

It’s no surprise that some coastal wetlands are more valuable than others, but the question several researchers at LSU are trying to answer is how much more valuable. Walter Keithly, associate professor and Richard Kazmierczak, professor with the Center for …

Fireman’s Fund Launches New Commercial Property Form for Highly Protected Risks

Fireman’s Fund Insurance Co. has launched Property-Gard Pinnacle, a new commercial property form that integrates new coverages and policy format with existing protection for highly protected risk (HPR) properties. The policy structure offers the following features: Flexible limits and terms …

Cochrane & Company Combines Property, GL Coverage for Shooting Sports Program

Cochrane & Company has combined general liability and property insurance for its ARMS program for the shooting sports industry, which includes ammunition, firearms manufacturing, and all supporting specialties. The coverage is backed by a carrier rated A by A.M. Best …

Louisiana Citizens Property Insurance to Boost its Line of Credit to $125M

Louisiana’s property insurer of last resort received approval from state officials to bump up its bank line of credit, giving the company more resources to cover claim costs if the state is hit with a significant storm. The State Bond …