Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
How to Fix Nation’s Flood Insurance Program
Dec 30 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...
Insurers’ Recent Success a Milestone in a Year of Chinese Drywall Litigation
Dec 23 2010 // A federal judge in Louisiana recently 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 those...
Southeast’s Top Stories: Disasters That Happened and 1 That Didn’t
Dec 23 2010 // The top insurance stories in the Southeast in 2010 included several disasters that caused considerable death and destruction in the region and one that didn’t do as much harm as feared. The April 20 blowout of...
Willis’ FINEX National Strengthens VEAGIS for UK Property Experts
Dec 23 2010 // FINEX National, which handles financial, professional and management liability insurance for clients of Willis Group Holdings, announced that it has launched a new offering under its VEAGIS brand, a professional indemnity...
Torus Strengthens European Service Delivery with Senior Appointments
Dec 21 2010 // Global specialty insurer Torus announced the appointment of Jason Mortimer as European Client Relationship and Business Development Director. He formerly headed European Property operations. Mortimer will now direct client...
Insurance Vital to Alabama Coast Long-Term Plan, Says Commission
Dec 21 2010 // Coastal Alabama should seize the BP Gulf oil disaster as an opportunity for “resiliency planning” that will not only help the region recover from the oil damage but also put it in a position to better recover...
Property, Violent Crimes Decline in U.S. in First Half 2010: FBI
Dec 20 2010 // The nation experienced a 6.2 percent decrease in the number of violent crimes and a 2.8 percent decline in the number of property crimes from January to June 2010. Arson, motor vehicle theft, larceny-theft fell and...
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 20 2010 // Have you ever wondered what big events helped shape regulation of the current U.S. insurance industry? Or if drivers of certain cars have more risk? What about the most attractive insurance job in the industry? These are...
Heffernan Insurance Adds Hight to Commercial Property/Casualty Team
Dec 10 2010 // Heffernan Insurance Brokers has added Melodie Hight in its Portland, Ore., office as a producer in Commercial Property and Casualty Insurance. Hight has more than 20 years in commercial property and casualty insurance. She...
Liberty International Underwriters Launches E&S Property Product
Dec 9 2010 // Liberty International Underwriters U.S. (LIU) has launched an Excess and Surplus Lines (E&S) Property product. This product provides wholesale brokers with a new market for their clients’ commercial property...
Thomas, Wilson Named Senior VPs at Great American Insurance
Dec 9 2010 // Cincinnati, Ohio-based Great American Insurance Group’s Property and Inland Marine Division has promoted two insurance executives: Grace Thomas and Cecil Wilson. Thomas was promoted to divisional senior vice...
People
Dec 5 2010 // Aon Corp. reported that Andrew Appel, the firm’s chief operating officer, will be leaving the company at the end of the year. The company said there are no plans to fill the position upon Appel’s...
Could Sinkhole Claims Sink Florida Insurers?
Dec 5 2010 // A new state report confirms sinkhole insurance claims are rising in Florida, costing insurers millions of dollars in payouts and expenses, cropping up in counties where they have not been a problem in the past, and showing...
People
Dec 5 2010 // Frost Insurance in Austin, Texas promoted Sheri Smyth to vice president of personal lines. Smyth, a 23-year insurance industry veteran, manages the personal lines department’s growth and retention efforts, and...
Louisiana Citizens Sheds Homeowners Policies
Dec 5 2010 // Louisiana Citizens Property Insurance Corp. (Citizens) has held a fourth depopulation offering in which 13,500 policies have been assumed by the private insurance market, according to state Insurance Commissioner Jim...
