property insurance News

Pakistan Plan for $46B Economic Corridor with China Set to Boost Insurers

Pakistan Prime Minister Nawaz Sharif’s $46 billion plan for an economic corridor with neighboring China as part of his revival push is promising to boost the prospects of the nation’s insurers. Adamjee Insurance Co. and Jubilee General Insurance Co., which control about 35 percent …

Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P

Insurers are unlikely to be impaired by the loss claims from the explosions in the Chinese Port of Tianjin last week, according to a report from Standard & Poor’s. “Based on our initial investigation, we expect most of the affected …

ISO Upgrades Sioux Falls, South Dakota Fire Protection Rating

Homeowners in South Dakota’s largest city might soon get a break on their insurance bills. The Insurance Services Office that scores about 48,000 fire departments nationwide is upgrading Sioux Falls’ public protection grade to the second-best mark that a fire …

Arson Suspected in Car Dealership Fire in Northern California

Arson investigators say they suspect car fires were intentionally set at a dealership north of San Francisco. KNTV-TV reported Sgt. Sasha D’Amico says officers found several vehicles on fire when they responded to a call Wednesday night about a brush …

Louisiana’s Eagan Insurance: Carrying on a Family Tradition

Marc Eagan says he’s fortunate that his four children grew up in and around the insurance business. For Eagan, president of Eagan Insurance Agency located in the New Orleans-area, it means his firm is well-situated to carry on the family …

Lake Charles, Louisiana to Keep Class 2 Fire Protection Rating

The Property Insurance Association of Louisiana says Lake Charles will maintain its Class 2 fire protection rating for the next few years. By keeping the Class 2 rating, which the city has maintained since the 1980s, residents won’t see a …

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 …