Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
RLI Creates New Reinsurance Property Treaty Group
Feb 9 2011 // RLI Corp. has created a new Property Treaty Group within its RLI Re Division to expand its capabilities in the reinsurance marketplace. The new group will offer customized assumed property reinsurance solutions to a select...
SPECIAL REPORT: Extreme Weather Batters Insurance Industry
Feb 9 2011 // In Chester County, South Carolina, off a dirt road in the middle of a field, insurance companies are literally unleashing a storm. To simulate hurricane-like conditions, an industry group has built a wind tunnel big enough...
Florida Senate Committee Postpones Vote on Property Legislation
Feb 8 2011 // For the second straight week, the Florida Banking and Insurance Committee failed to reach a final vote on its comprehensive property insurance bill. The delay comes as committee members remain bogged down over how to...
People
Feb 7 2011 // Great American Insurance Group, headquartered in Cincinnati, Ohio, announced that Michael G. “Mike” Liguzinski will succeed John W. Sullivan as divisional president, Specialty Human Services Division, upon...
New Snow Liability for Massachusetts Property Owners
Feb 7 2011 // “Is it true that if I don’t shovel the snow then I can’t be sued?” As inevitably as the seasons change, this is a question that comes up every fall. For many years, my answer was both lengthy and...
Chinese Drywall: Cracks in Coverage Claims?
Feb 7 2011 // Although not in the national news as much lately, Chinese drywall continues to disrupt the lives and finances of thousands of homeowners and other users of the product. In the courts, homeowners are fighting to obtain...
Travelers Sees Insurance Business Improving
Jan 25 2011 // Travelers Companies Inc. posted a higher-than-expected quarterly profit and the largest publicly traded U.S. property insurer said there were early signs businesses were finally willing to spend more on insurance. Despite...
People
Jan 24 2011 // Marsh appointed Jill Sulkes as head of its U.S. Financial Institutions Practice. Sulkes has more than 15 years of experience in risk management for financial institutions, most recently as a managing director in...
Florida Looking for Ways to Curb Sinkhole Losses
Jan 24 2011 // Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought...
Main Street America Introduces Personal Auto, Property Product to Grain Dealers Agents in Indiana
Jan 20 2011 // The Main Street America Group has introduced its Personal Auto MVP property and liability product via its network of nearly 100 Grain Dealers Mutual Insurance Company independent insurance agents throughout Indiana. Super...
J.M. Wilson Hires Lombardo as Property/Casualty Underwriter
Jan 20 2011 // Managing general agency J.M. Wilson has added Katie Lombardo as a property/casualty underwriter in its Arlington Heights, Ill., office. Lombardo will review, quote, bind and service commercial P/C accounts for the...
What to Know About Snow
Jan 17 2011 // Snow can be more than an irritant and disruption for small businesses. It can also be a legal liability. This is the season for insurance agents and brokers to remind their clients of their potential liability: Let’s...
Florida Lawmakers Seek Ways to Curb Sinkhole Losses
Jan 14 2011 // Florida lawmakers are trying to address the cost of sinkhole claims, which state officials and insurers say are driving up property insurance rates and could threaten the solvency of some domestic insurers if not brought...
Pennsylvania Insurance Program for Homes Above Mines Active
Jan 13 2011 // As many as 1 million Pennsylvania homes sit above abandoned coal mines, yet a state-subsidized insurance program for mine subsidence has issued only 58,000 policies. Abandoned mines are in 43 of Pennsylvania’s 67...
Federal Judge Dismisses Suits Against Insurers Over Chinese Drywall Coverage
Jan 10 2011 // A federal judge in Louisiana in mid-December let 10 insurance companies being sued by Louisiana homeowners over property damage resulting from the installation of defective drywall from China off the hook for coverage from...
Jan. Reinsurance Renewals Saw ‘Orderly Rate Softening,’ Says Towers Watson
Jan 10 2011 // Record reinsurer capital levels, strong reinsurer capacity, an absence of major catastrophe losses in the U.S. and competitive pressures helped push down January 1 renewal rates for U.S. property/ casualty reinsurance...
PuroClean to Open New Property Restoration Training Facility
Jan 5 2011 // Florida-based PuroClean, which specializes in property emergency restoration services, announced plans to open a new Applied Structural Drying (ASD) Demonstration Facility. The company said the facility is only the 17th...
Year-End Storms Cloud P/C Insurers’ Profit Picture
Jan 5 2011 // U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away...
Oahu Property Owners Urged to Buy Flood Insurance
Dec 31 2010 // Emergency management officials are urging Oahu property owners to buy flood insurance at current rates before new flood maps — and resulting higher prices — kick in next month. The Federal Emergency Management...
How to Fix Nation’s Flood Insurance Program
Dec 31 2010 // The Federal Emergency Management Agency (FEMA) is seeking a top-to-bottom review of the efforts to reform the nation’s flood insurance program. The National Association of Mutual Insurance Companies (NAMIC) has...
