Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Property Casualty Market’s Love Affair With Main Street Business
Feb 7 2010 // Why Small Business Means Big Business for Insurers and Brokers Alike Main Street business often means different things to different people, but it generally refers to small commercial establishments that would be found in...
Audit Questions Security of Louisiana Citizens’ Computer Systems
Jan 27 2010 // Louisiana’s property insurer of last resort allowed too much access to computer systems, opening the door for potential fraud, and failed to take enough steps to make sure that policy applicants were eligible for...
Florida’s Citizens to Re-Bid Part of Contract for Property Reinspections
Jan 26 2010 // Florida’s state-backed property insurer will seek competitive bids on part of a contract to reinspect as many as 400,000 properties that have been awarded $700 million in mitigation discounts off their insurance...
People
Jan 24 2010 // Todd Richardson has been promoted to regional vice president – State Auto Middle Markets Insurance (SAMMI) for the company’s Western region, which includes Utah, Colorado, Arizona, Oklahoma and Texas....
Pacific Wholesale Insurance Brokers Names Janes VP
Jan 22 2010 // Pacific Wholesale Insurance Brokers LLC, an ISG Co., announced that Brian Janes has joined as vice president/property broker in the Burbank, Calif., office. His responsibilities include developing his book of property...
West Virginia Eyes Lien on Fire Insurance to Fight Abandoned Buildings
Jan 21 2010 // West Virginia may be on the path to helping municipalities pay for debris removal of abandoned buildings with insurance payments in a way that insurers can live with. The issue of how to pay for the cleanup has irked...
Torus Adds Personnel for New UK-based Property Team
Jan 20 2010 // Torus announced that it is in the process of establishing a London-based property tem to serve the UK. David Ring joins the Company to lead the new operations as UK Head of General Property. He is responsible for managing...
Union General Insurance Offers Property Market in California
Jan 19 2010 // Union General Insurance Services of Concord, Calif., has a property market available to California agents. Property coverage is provided by an “A+” rated carrier for all types of small- and medium-sized...
Ladner Named Vice Chair of Texas Property/Casualty Guaranty Assoc.
Jan 13 2010 // The Texas Property and Casualty Insurance Guaranty Association has appointed Gerald Ladner to vice chair of its Board of Directors. His term runs through Dec. 31, 2011. Ladner, a resident of Austin, is the regional...
Florida Agents, Consumer Group Sound Alarm Over ‘Perilous’ Property Market
Jan 13 2010 // Insurance agents, a former insurance commissioner and a consumer advocate have sounded an alarm about the property insurance marketplace in Florida, a market that has seen four insurers get into financial trouble in the...
People
Jan 10 2010 // New York-based insurance wholesaler Russell Bond & Co. has promoted Margaret J. Arnold to assistant vice president-controller. She is a 20-year veteran of the firm. In addition, the company has also promoted Derek...
Most Property Reinsurance Rates Down at January Renewal As Capital Rebounds
Jan 10 2010 // Reinsurance rates across most lines of property catastrophe business declined at the Jan. 1, 2010 renewal, according to a briefing by Guy Carpenter & Co. LLC. Guy Carpenter’s World Catastrophe Rate on Line (ROL)...
Lockton Re Adds Executives in Kansas City and New York
Jan 8 2010 // Privately owned, independent reinsurance brokerage Lockton Re has expanded its presence in the United States with the appointments of three new executives – Larry Hunter-Blank, Joe Zuk and Scott D. Polkinghorne at...
Denton to Lead Argo Group’s U.S. Specialty Property Initiative
Jan 8 2010 // Argo Group International Holdings Ltd. announced that its San Antonio-based Excess and Surplus Lines (E&S) business segment has appointed Michael Denton as senior vice president of its specialty property...
Liberty Mutual Receives China Approval to Open Zhejiang Branch
Jan 7 2010 // Liberty Mutual Group, through its wholly owned subsidiary Liberty Insurance Company Limited (LICL), has been granted approval to establish a branch in Zhejiang by the China Insurance Regulatory Commission (CIRC). Liberty...
Zurich Global Corporate in North America Appoints Bergen in Southwest
Jan 6 2010 // Zurich, a property and casualty insurance provider globally and in North America, announced that Doug Bergen has been appointed southwest regional property manager for its Global Corporate in North America (GCiNA) business...
Most Property Reinsurance Rates Down at January Renewal As Capital Rebounds
Jan 5 2010 // Reinsurance rates across most lines of property catastrophe business declined at the Jan. 1, 2010 renewal, according to a briefing by Guy Carpenter & Co., LLC. Guy Carpenter’s World Catastrophe Rate on Line...
Michigan’s H.E.A.T. Recovers $51M in Stolen Property in 25 Years
Jan 5 2010 // Since its inception in 1985, tips to Michigan’s Help Eliminate Auto Thefts (H.E.A.T.) program have led to recovery of more than $51 million in stolen property and arrests of more than 3,300 suspects involved in auto...
Texas Imperial Sugar Settles Property Claim for 2008 Georgia Explosion
Dec 29 2009 // Sugarland, Texas-based Imperial Sugar Co. has settled the property insurance claim for the February 2008 industrial explosion at its Port Wentworth, Georgia refinery for an aggregate of $345 million. A final $45 million...
P/C Industry’s Net Income Up; Combined Ratio at 100.7 for Q3
Dec 22 2009 // Private U.S. property/casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 percent decline to $4.4 billion through nine-months 2008 from $49.6...
