Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Despite Heavy Catastrophe Losses, Top 25 P/C Insurers Report Premium Growth, Net Income Through Third-Quarter 2011
Jan 23 2012 // Amid the continued difficult economic conditions, a heightened frequency of catastrophic events in 2011 has resulted in nearly $40 billion of losses to insurers. The losses associated with these catastrophes have been...
Ohio Property Insurance Rates Expected to Rise After Storms
Jan 20 2012 // Ohio’s relatively low rates for property insurance are expected to rise in 2012 due to the damaging storms of recent years. An insurance agent in Middletown in southwest Ohio says Mother Nature has had her way with...
Oklahoma’s GHS Property and Casualty Insurance Co. Ratings Downgraded
Jan 19 2012 // A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to “bbb+” from “a-” of GHS Property and Casualty Insurance Co. (GHS), located in...
Schubmehl Joins Swett & Crawford Chicago as Property Broker
Jan 18 2012 // Farrah Schubmehl has joined the property practice group in Swett & Crawford’s Chicago office to broker a broad range of specialty exposures. Schubmehl has worked as an underwriter and broker in both the retail...
I.I.I. Survey: P/C Executives Expect Improved Profitability in 2012
Jan 11 2012 // Most property/casualty insurance executives believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, according to a survey from the Insurance Information...
Property Damage Prompts Search for Signs of Houston-Area Tornadoes
Jan 11 2012 // National Weather Service teams are surveying parts of the Houston area to determine if tornadoes are responsible for damage to homes and a suburban shopping mall. Some roads flooded and nearly 20,000 Houston-area residents...
XL Insurance Combines Property, Asset Protection; 6 Engineering Heads Named
Jan 11 2012 // XL Group plc’s Insurance segment has combined its Property Underwriting and XL Global Asset Protection Services (XL GAPS) engineers to form one unified team, which consists of “nearly 200 risk engineers...
Endurance Promotes Boland to Senior VP in New York Office
Jan 10 2012 // Endurance Specialty Holdings promoted Mark Boland to the position of senior vice president, primary casualty insurance. In his new role, Boland will lead Endurance’s U.S. wholesale primary casualty insurance...
Florida’s Citizens Property CEO Wallace to Exit
Jan 10 2012 // Citizens Property Insurance Corp. President Scott Wallace has announced that he will step down as president and CEO of the corporation effective April 6. Wallace, who has served more than six years as the CEO of the...
Federal Risk Retention Law Needs Clarification: Congressional Report
Jan 10 2012 // The federal law governing risk retention groups should be clarified to reduce the number of disagreements between RRG managers and state regulators and to clarify the coverage RRGs may offer, a Congressional report...
5 Strategies for P/C Insurers for 2012
Jan 10 2012 // The economic uncertainty that plagues buyers of insurance does not bode well for the property/casualty insurance industry, experts are warning. Ernst & Young, the global tax and business advisory firm, said it expects...
More Louisiana Property Owners Move to Private Insurers
Jan 9 2012 // Fresh data shows Louisiana’s insurer of last resort keeps churning away on getting private insurers to pick up policyholders, a problem largely stemming from the 2005 hurricanes. For policyholders of Louisiana...
Insurance Veterans’ Forecasts for 2012
Jan 5 2012 // Now that the year 2011 is behind us, let’s take a look at what might be ahead. Insurance Journal spoke with leading industry professionals and asked them what they are expecting this year. If their forecasts are any...
Fire Risk Lower in High-Rise Buildings: Report
Dec 29 2011 // Fires in high-rise buildings cause about $230 million in property damage and take more than 50 lives a year. But high-rise buildings tend to present a lower risk of fire and associated losses than lower-rise building,...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
What is it About the PRIS Designation
Dec 27 2011 // The Property Risk Insurance Specialist (PRIS) program is an intense, three-day study of all areas of property insurance developed by Insurance Partners Academy and contributed to by the Insurance Journal Academy of...
Vermont Mutual Appoints Property Risk Control Manager
Dec 22 2011 // Vermont Mutual Insurance Company, based in Montpelier, Vt., recently appointed industry veteran Donald Rung as property risk control manager. Rung has more than 33 years of loss control experience in the insurance industry...
Property Risk Insurance Specialist
Dec 21 2011 // The Property Risk Insurance Specialist (PRIS) program was developed by Insurance Partners Academy and is contributed to by the Insurance Journal Academy of Insurance. PRIS allows agents, brokers, underwriters, risk...
For Florida Gov. Scott, Insurance Fixes Are Legislative Priority
Dec 21 2011 // Gov. Rick Scott wants lawmakers to fix a pair of auto and property insurance issues that are costing Floridians hundreds of millions of dollars but have eluded resolution for more than a decade. The issue facing the...
