Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
People
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28, 2011. David H. Long replaced Kelly as president and CEO. Kelly will continue to serve as chairman of the board of...
Demotech Inc. Identifies 2011 Near National Property/Casualty Insurers
Jul 4 2011 // The original criteria and objective definition for Near National insurance carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one...
Mississippi Property Insurance Rates Leveling Off: Chaney
Jun 24 2011 // State Insurance Commissioner Mike Chaney says property insurance rates in Mississippi have leveled off for the time being. Chaney told a meeting of the Gulf Coast Business Club that more carriers have entered the insurance...
Florida Agents’ Leader Grady Cites Progress, Disappointments on Reform
Jun 23 2011 // For those in the industry, Florida’s recent legislative session was a long march as they tried to navigate through a process that initially promised much in the form of a new governor and strong pro-business...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Tennessee Officials Worried Over Increasing Number of Abandoned Homes
Jun 22 2011 // Officials in Washington County, Tennessee are trying to decide the best way to deal with the growing number of abandoned homes. Of particular concern to officials is that property owners could stop caring for the upkeep of...
People
Jun 20 2011 // Iowa-based United Fire & Casualty Co. announced new executive appointments and the election of four new directors for full terms on its 12-member board. Denver Regional Office Underwriting Manager Jolene Grow was...
Actuaries Learn About Florida Property Insurance Challenges
Jun 20 2011 // Exposed to devastating hurricanes and a surprising influx of sinkholes, Florida may have the most challenging market for homeowners insurance in the nation, panelists told members of the Casualty Actuarial Society Spring...
Insurers Must Cover Flood Re-Located Property in South Dakota
Jun 20 2011 // Insurers must provide full coverage for personal property that’s been moved because of the threat of flooding on the Missouri River, South Dakota insurance regulators have determined. Insurance Director Merle...
Brokers See No Change in Sight for Apartment Market
Jun 20 2011 // Rates Remain Competitive Despite Fewer Carriers, More Catastrophe Losses For apartment owners, the insurance market remains as competitive as it gets. Despite the sometimes heavy exposures that encompass the habitational...
P/C Insurance Industry Wins, Loses in Scott’s First Session
Jun 10 2011 // It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play for the last 72 hours. No matter how many committee meetings, no matter how many press conferences, no matter...
Will New Legislation Help Florida’s Property Insurance Market?
Jun 7 2011 // Florida hasn’t been hit by a hurricane since the disastrous years of 2004 and 2005, but the state’s property insurance companies say they are still losing money despite collecting billions in premiums. That has...
People
Jun 6 2011 // The IMA Financial Group Inc. promoted three in the company’s employee benefits division to vice presidents. Gregg Kamas was promoted to vice president of IMA Financial Group and national practice leader of health...
What’s In Florida’s Property Insurance Cost Control Bill?
Jun 6 2011 // Florida Gov. Rick Scott signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. Scott said the bill (SB 408) “strengthens...
How Florida’s Agents Fared in Tallahassee
Jun 6 2011 // FAIA President Jeff Grady on Property Insurance Reform, Effects of RMS Model, Citizens For those in the industry, Florida’s recent legislative session was a long march as they tried to navigate through a process that...
What Killed PIP and Citizens Reform?
Jun 6 2011 // P/C Industry Wins Some, Loses Some in Scott’s First Session It is axiomatic in Florida that when it comes to the legislature and insurance issues, the power brokers play to the last 72 hours. No matter how many...
Intellectual Property Insurance: Coverage that Fits the Risk
Jun 6 2011 // Many companies are unaware that the insurance they purchase may not protect their most valuable assets, intellectual property (IP). That’s because most insurance policies exclude intellectual property, especially...
Florida Braces as RMS Model Makes Landfall
Jun 6 2011 // Storm Model Hits Inland Territories; Could Alter Property Insurance Political Landscape Florida’s history with hurricanes has created a series of assumptions long treated as facts, none of which is more quoted than...
A.M. Best Downgrades Ratings of State Auto Insurance Companies
Jun 2 2011 // A.M. Best Co. has downgraded the financial strength rating (FSR) to A (Excellent) from A+ (Superior) and issuer credit ratings (ICR) to “a+” from “aa-” of Columbus, Ohio-based State Auto Insurance...
Best Affirms Travelers and Subsidiaries Ratings
May 27 2011 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of Travelers Group and its property/casualty members, and affiliates,...
