Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
State Farm Says It’s Paying Too Much in Property Tax to Bloomington
Dec 16 2009 // State Farm Insurance thinks it’s paying too much in property taxes in its hometown of Bloomington, Ill. If the company is right it could cost local schools and government millions of dollars. The Bloomington-based...
Best Affirms Lloyd’s Syndicate 570 & 609 ‘A’ Ratings
Dec 16 2009 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Lloyd’s Syndicates 570 and 609, which are both managed by Atrium...
Aon: P/C Market and D&O Market to Further Stabilize in 2010
Dec 10 2009 // Property, casualty and directors’ and officers’ (D&O) liability insurance rates will continue to stabilize in 2010, according to Aon Corp.’s U.S. Q3 ’09 Quarterly Market Overview. Highlights of...
Mississippi Attorney General to Target Intellectual Property Theft
Dec 10 2009 // Those behind the sophisticated computer software in Mississippi and elsewhere that tracks down child predators on the Internet are now targeting people who illegally download music and movies. “The good guys are...
Ironshore Names Mammolite New York Region Executive
Dec 9 2009 // Commercial property insurer Ironshore Inc. announced that Anthony Mammolite, currently executive vice president of its U.S. Property unit, has been named to the additional post of regional executive for the entire New York...
Mass. Weighs FAIR Plan Property Insurance Rates
Dec 7 2009 // Massachusetts will begin public hearings next week on a request by the state’s property insurer of last resort to raise rates from 1.9 percent to 7 percent. The hearings are set to begin Dec. 15 on the request by the...
Rate Hikes for Florida Citizens’ ‘High Risk’ Properties Approved
Dec 6 2009 // Florida Insurance Commissioner Kevin McCarty has approved rates hikes for about 330,000 of Citizens Property Insurance Corp.’s so-called high-risk coastal property accounts. The statewide average increases include a...
People
Dec 6 2009 // Monte Stringer, executive vice president with U.S. Risk Inc. in Dallas, has been elected president of the Texas Surplus Lines Association Inc. for the coming year. Stringer and other new officers and directors of the...
Florida Approves Rate Hikes for ‘High Risk’ Coastal Properties
Nov 22 2009 // Florida Insurance Commissioner Kevin McCarty has approved rates hikes for about 330,000 of Citizens Property Insurance Corp.’s so-called high-risk coastal property accounts. The statewide average increases include a...
Best Affirms Ratings of Assurant and Its Subsidiaries; Several Upgraded
Nov 20 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the P/C and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of “bbb” and debt...
Insurance Associations Concerned on Financial Stability Improvement Act
Nov 18 2009 // In an open letter addressed to Barney Frank, the Chairman of the House of Representatives Committee on Financial Services, the largest U.S. insurance trade associations expressed their concerns over the recently passed...
People
Nov 15 2009 // Alan Ring has joined National Contractors Insurance Co., Inc. (NCIC), a risk retention group, headquartered in Big Fork, Montana, as director of sales and marketing. Ring will be based in NCIC’s Anaheim Hills,...
Florida Property Rate Changes Approved
Nov 15 2009 // The average rate increases approved for Florida’s Citizens: Personal Lines Homeowners: 5.4 percent Dwelling Fire: 8.8 percent Mobile Homeowners: 1.7 percent Mobile Home Physical Damage: 2.1 percent Commercial...
The Mississippi Supreme Court’s Anti-Concurrent Clause Decision
Nov 15 2009 // How Far Will It Go? On Oct. 8, 2009, the Mississippi Supreme Court handed down its opinion in Corban v. USAA, in which it addressed the enforceability and application of “Anti- Concurrent Cause” clauses (ACCs)...
People
Nov 15 2009 // Alan Ring joined National Contractors Insurance Co. Inc. (NCIC), a risk retention group, headquartered in Big Fork, Mont., as director of sales and marketing. Prior to joining NCIC, Ring was a regional manager for...
Declarations
Nov 15 2009 // Healthy Action “The Affordable Health Care for America Act is a piece of legislation that will provide stability and security for Americans who have insurance; quality, affordable options for those who don’t;...
Wisconsin Local Governments to Share $12M in Property Insurance Credits
Nov 12 2009 // Wisconsin insurance officials plan to hand $12 million in property insurance credits back to local governments next year. Wisconsin municipalities can pay into a state account in exchange for insurance on public property....
AAIS Introduces ‘Green’ Coverage Option For Commercial Output Program
Nov 12 2009 // The advisory aand policy form organzation American Association of Insurance Services (AAIS) is introducing an optional Green Coverage Endorsement and accompanying schedules under its Commercial Output Program (COP). AAIS...
Insurance Trades Cast Wary Eyes at Senate Financial Services Bill
Nov 11 2009 // Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to...
Q3 Profit Rises at CNA; CEO Motamed Sees ‘Encouraging’ Rate Trends
Nov 2 2009 // CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating...
