property insurance News

Thieves Steal Valuable Items from Kansas Ag Museum

Police are seeking help to identify whoever stole items from the National Agricultural Center and Hall of Fame’s collection in Bonner Springs, Kan. Bonner Springs police tell The Kansas City Star thieves broke into the center on Sept. 10 and …

LSU Flagship Campus Authorized to Buy Its Own Insurance

Lawmakers have given Louisiana State University (LSU) the authority to leave the state-run insurance program and buy its own coverage in a first-of-its-kind arrangement for a Louisiana public college. University System President F. King Alexander said the move could save …

Allied World to Build Out Canadian Energy Market Property Coverage, Hires Two Vets to Lead

Allied World Assurance Company Holdings, AG has launched its property line for energy risks in the Canadian market with a new team of underwriters. The company launched its initial property & excess casualty offerings for Canada in May. The new …

Minneapolis to Require Residential Sprinklers Beginning in January

A new state requirement for the home building industry was published this week in Minnesota. It means a sprinkler system is required for new houses larger than 4,500 square feet beginning in January. Eden Prairie Fire Chief George Esbensen says …

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 …