Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Flood Risks Rampant across Asia’s Factory Zones; Insurers Concerned
Jul 23 2012 // Global insurance companies are struggling to get a grip on their flood exposure in Asia nearly a year after one of the world’s costliest disasters hit Thailand, with executives fearing an even worse event may strike...
UIB Restructures Property Team to Promote Growth
Jul 23 2012 // London-based international reinsurance broker UIB has overhauled its property team with a view to doubling the division’s revenues. UIB appointed Mark Ritson, formerly a UIB Energy director, to head the property...
Policy Counts for Property Insurers of Last Resort Up 17%
Jul 23 2012 // A record-high 3.31 million residential and commercial policies were offered through state-run property insurers of last resort in the United States in 2011, a 17 percent rise over the previous record of 2.84 million in...
Allstate Dropping 10,000 South Carolina Homeowners Policies
Jul 12 2012 // Allstate is dropping about 10,000 South Carolina home insurance customers. The company is dropping customers who don’t also carry Allstate auto coverage, have older homes and have homes insured for less than...
Florida Property Owner to Pay $1 Million Wrongful Death Claim
Jul 11 2012 // The family of a woman killed in a drug-related shooting will receive $1 million from the property owner for a wrongful death claim. The Florida Times Union reported that 19-year-old Danielle Melton’s twin toddlers...
Policy Counts for States’ Property Insurers of Last Resort Grew 17% in 2011: III
Jul 10 2012 // A record-high 3.31 million residential and commercial policies were offered through state-run property insurers of last resort in the United States in 2011, a 17 percent increase over the previous record of 2.84 million in...
Guy Carp’s July 1 Renewals Report: ‘Plentiful Capacity;” Low Insured Losses
Jul 10 2012 // According to a report from Guy Carpenter the July first reinsurance renewals “took place against a backdrop of plentiful capacity,” as capital “has continued to strengthen through the second quarter of...
Endurance Promotes Bigley to Senior VP, Head of U.S. Property Cat Reinsurance
Jul 10 2012 // Bermuda-based Endurance Specialty Holdings Ltd has promoted David Bigley to senior vice president and head of U.S. Property Catastrophe Reinsurance. Endurance also announced that Rene Lamer and Stefan Beine, both senior...
Property/Casualty Insurance Professionals Nationwide Get New Revenue Stream and Client Retention Tool with ValueAppeal PRO® Property Tax Service
Jul 10 2012 // Seattle, WA, 07/10/12 – ValueAppeal, a pioneering online do-it-yourself property tax appeal service developed to help homeowners ensure that they are not overpaying their property taxes, today announced the launch of...
CEA Unveils Homeowners Choice Earthquake Coverage Product Line
Jul 3 2012 // As of July 1, 2012, the California Earthquake Authority (CEA) is offering its new Homeowners Choice product line. The new product will give residents greater control over their earthquake insurance premium and the ability...
Business Moves – Southeast
Jul 2 2012 // Gallagher, Whitehaven Illinois-based global insurance broker Arthur J. Gallagher & Co. has acquired Whitehaven Insurance Group, Inc. in Gulf Shores, Alabama. Terms of the transaction were not disclosed. Founded in...
Devall to Lead London Business for Crawford’s U.S. Property/Casualty Unit
Jun 29 2012 // Longtime London market executive James B. Devall has joined Crawford & Co. in its Dallas office to lead the company’s London-fronted business in the U.S. As vice president and managing director of London program...
State Farm Seeks 14.9% Jump in Florida Property Insurance Rates
Jun 28 2012 // Florida’s third largest property insurer is seeking a statewide average 14.9 percent increase in property rates as part of a plan to shore-up its fiscal condition while revamping the deductibles and discounts it...
P/C Insurers Profits Rose to $10.1B in Q1
Jun 27 2012 // Private U.S. property/casualty insurers’ net income after taxes rose to $10.1 billion in first-quarter 2012 from $7.8 billion in first-quarter 2011, with insurers’ overall profitability as measured by their...
Chartis Increases Commercial Property Per-Risk Capacity
Jun 18 2012 // Chartis has increased its commercial property per-risk capacity to $1.5 billion on a worldwide basis. This level of capacity had previously been available to Chartis’ North American domiciled clients, underwritten by...
Best Affirms Kemper Corp., Subs and Affiliates Ratings
Jun 18 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the property/casualty subsidiary and affiliated insurance companies...
Commercial Insurance Prices Continue to Rise: Towers Watson
Jun 18 2012 // Commercial insurance prices in aggregate increased by nearly 5 percent during the first quarter of 2012, the fifth consecutive quarter that prices rose. In addition, commercial insurers’ loss ratios stabilized for...
The Next New Thing
Jun 18 2012 // Coverage Issues from Fracking Claims Every few years there are predictions of a new type of claim that threatens to engulf carriers. In the 1980s and 1990s it was environmental clean up claims and SuperFund, followed...
Business Moves – Midwest
Jun 18 2012 // Atlas Atlas Financial Holdings Inc. has started selling its core commercial automobile insurance products in Utah, becoming the 31st state where Atlas is actively underwriting. Atlas’ insurance subsidiaries, American...
What Do Millennials Want?
Jun 18 2012 // Flexibility, Balance, Respect and Accessibility Are Important, Studies Find There’s a lot of talk in property/casualty insurance circles these days about how the industry is going to replace the huge wave of baby...
