Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Property Rates Expected to Rise From Catastrophes, Revised Cat Model
May 2 2011 // Property insurance rates could be on the rise thanks to first quarter catastrophe losses, including the earthquake and tsunami in Japan, and a revised catastrophe model. During the second quarter, rates for North American...
Business Losses Due to ‘Action’ by Civil Authorities: When Is There Coverage?
May 2 2011 // Virtually all insurance policies contain provisions and exclusions dealing with events that most insureds consider so remote and unlikely that they rarely give any thought to their possible occurrence, much less what...
Florida Senate Passes Property Insurance Overhaul
Apr 29 2011 // The Florida Senate has passed a property insurance overhaul aimed at creating more competition in the private marketplace and also cut down on fraudulent sinkhole claims. The measure (SB 408) passed on a 25-12 vote after...
Officials, Insurers Begin Tallying Damages from Deadly Storm
Apr 29 2011 // Officials in Southeast states hammered by a storm that killed at least 300 people have begun the task of evaluating the damage. Alabama appears to have suffered the brunt of the storm, where Tornadoes struck particularly...
Towers Watson Names Osean as VP, Property Insurance
Apr 28 2011 // Towers Watson named Brendan Osean as vice president, property insurance, in its insurance brokerage business. In his role, Osean will be responsible for overseeing the design and placement of commercial property insurance...
Calif. Bill Proposes Consolidating Insurance Disclosure Notices
Apr 28 2011 // California legislators are considering whether to allow certain insurance policies and disclosures to be consolidated into one document, printed in smaller type. Currently, the law requires an insurer, upon receiving...
Major Florida PIP Reform Effort Dies in Committee
Apr 27 2011 // The industry’s push for comprehensive reforms to Florida’s no-fault personal injury protection (PIP) insurance law came to an abrupt end in Florida after a House committee by a single vote margin rejected a...
Peerless Insurance Adds 40-Plus Business Classes to Small Commercial Program
Apr 27 2011 // Peerless Insurance, a Liberty Mutual Agency Corp. regional company, has expanded its small commercial appetite with the addition of more than 40 business classes to its Commercial Protector BOP product. The majority of the...
Marsh Agrees: Soft Pricing Persisted Despite Catastrophe Losses in Q1
Apr 27 2011 // Catastrophe losses approached record levels in the first quarter but despite this commercial property/casualty insurance rate increases were confined to loss-affected exposures. In regions and for classes of business not...
Crump Hires Landry in Cincinnati, Expands National Property Practice
Apr 26 2011 // John Landry has joined Crump Insurance Services Inc.’s (Crump P&C) national property practice as senior vice president in Cincinnati, Ohio. This hire is part of Crump’s strategic plan to increase the depth...
Beazley Remains Confident, Despite Q1 Catastrophes
Apr 25 2011 // The first quarter of 2011 reminded the insurance industry of just how unpredictable natural catastrophes can be. Beazley plc, which is headquartered in Dublin, but whose main activities, are in the Lloyd’s market,...
The Hartford Introduces Marine Policy For Modern Warehouse Logistics Operations
Apr 22 2011 // The Hartford Financial Services Group, Inc. has introduced a marine policy designed specifically for modern warehouse logistics operations involved in the transport and storage of their customers’ property. The...
Ohio Non-Insured Property Exclusion Case Sent Back to Lower Court
Apr 20 2011 // The Supreme Court of Ohio has ruled that a trial court must reconsider arguments in a lawsuit over an exclusion in a homeowners’ insurance policy that bars coverage for claims “arising out of” premises...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
Florida Journalist Wins Pulitzer for Property Insurance Report
Apr 20 2011 // In the thick of her two-year investigation into Florida’s insurance industry, Sarasota Herald-Tribune reporter Paige St. John would wake up in the middle of the night, shaking and sweating, fearful that she’d...
Golden Eagle Expands Small Business BOP Product
Apr 18 2011 // Golden Eagle Insurance, a Liberty Mutual Agency Corp. regional company, has expanded its small commercial appetite with the addition of more than 60 business classes to its Commercial Protector BOP product. The majority of...
How Health Reform Will Affect Workers’ Comp, Liability Insurance
Apr 12 2011 // The federal health reform enacted last year will bring short- and long-term challenges to employers and the property/casualty insurance industry. According to Harry Shuford, chief economist for the insurance...
A.M. Best Revises Outlook for The Hartford
Apr 12 2011 // A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of “bbb+” of The Hartford Financial Services Group, Inc. A.M. Best also has affirmed the financial...
Tennessee’s Opry Mills to Reopen; Suit Against Flood Insurers Goes On
Apr 12 2011 // Nearly one year after a historic flood ravaged Nashville and submerged the popular Opry Mill shopping mall, the mall said it will reopen in 2012. This will happen despite the fact the property owner, Simon Property, is...
Commercial Insurance Pricing Cuts Slowed in March
Apr 6 2011 // Commercial insurers moderated their rate reductions in March, and coastal property accounts actually saw increases, the latest insurance pricing survey shows. According to the report from online exchange MarketScout, the...
