Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Finnis Named Executive VP, National Property Leader at Willis HRH
Feb 27 2009 // Willis HRH, the North American business of Willis Group Holdings, reported that David Finnis has been named executive vice president and national property practice leader, effective immediately. Finnis, who joins Willis...
Returning Florida Lawmakers’ Agenda Includes Property Insurance Woes
Feb 23 2009 // Florida Gov. Charlie Crist’s political mantra has been to hold down property insurance rates, taxes and almost anything else costly for people he wants voting for him next year. Whether Crist seeks re-election or Mel...
People
Feb 22 2009 // Andrew Fotopulos has joined Starkweather & Shepley Insurance Brokerage Inc. in Providence, Rhode Island as senior vice president. Fotopulos will lead the brokerage’s financial institutional practice. He will...
People
Feb 22 2009 // Juan Andrade and Jonathan Bennett have been named as interim co-leads of the Property and Casualty Operations of The Hartford. Their appointment to those interim positions follows the departure of Neil Wolin, president and...
People
Feb 22 2009 // American International Group (AIG) named Peter Eastwood president and CEO of Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management responsibility for Lexington from Kevin H. Kelley, who...
France’s Winter Storm Klaus Property Losses Pegged at $1 Billion Euros
Feb 20 2009 // Catastrophe risk modeling firm AIR Worldwide has updated its insured loss estimates of property losses in France from winter storm Klaus to between 500 million and 1 billion Euros. These losses represent damage to...
American Summit Offers Residential Property Insurance in Arizona
Feb 12 2009 // American Summit Insurance Co. of Waco, Texas, has introduced its residential property insurance program, Home Choice, in Arizona. The program features four packages of coverage: basic, value, ultra and special, plus...
People
Feb 8 2009 // Linda Timmons has been promoted to director of communications for the Independent Insurance Agents of Texas (IIAT). In this position, Timmons will manage the organization’s internal and external communications,...
Liberty Mutual Drops Direct Sales to Middle Market Businesses
Feb 8 2009 // Puts Faith in Independent Agents Liberty Mutual Group is throwing in the towel on direct distribution of insurance to middle market businesses. Because it couldn’t beat independent agents and brokers — who...
5 Business Owner Policy Gaps and Pitfalls Agents Should Watch Out For
Feb 8 2009 // Business owner policies, traditionally referred to simply as BOPs, were introduced in 1976 and significantly revised in 1987. The BOP evolved gradually since the 1987 revisions to include risk classification and sizes not...
The Hanover Group Sees Profits Shrink
Feb 6 2009 // Fourth quarter profits at The Hanover Insurance Group fell 55 percent from $75.8 million a year ago to $34.1 million. Full-year net income dropped nearly 92 percent to $20.6 million, from the $253.1 million the Worcester,...
State Farm Rejects Call to Let Florida Agents Represent Other Insurers
Feb 4 2009 // Florida Chief Financial Officer Alex Sink is urging State Farm Florida to “immediately” let its agents do business with other insurance companies for their more than one million policyholders now that State...
Illinois Court Denies Insurer Claim That Boys’ Deaths Were Single Event
Feb 4 2009 // The accidental deaths of two teenage boys at an excavation site in 1997 were separate occurrences under the liability insurance policy of the property owner, the Illinois Supreme Court has ruled in reinstating a $2 million...
Report Finds Cat Bond Market Resilient in Financial, Property Catastrophes
Feb 4 2009 // Catastrophe bonds withstood the impact of onerous market forces in 2008, brought on by turmoil in the global capital markets, according to a new briefing on catastrophe bond market activity. The cat bond market update,...
Texas Announces December Insurance Industry Enforcement Actions
Feb 3 2009 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during December. The actions include five license revocations, three license denials and fines and...
Texas Lawmaker Proposes Tax Caps for Commercial Property
Feb 3 2009 // Texas State Representative Bill Callegari (Katy) has filed two measures to cap increases in property tax appraisals for commercial property. The bills, HB 979 and HJR 49, limit annual appraisal increases for commercial...
Glencairn Names Andrews for Property Binding Business
Jan 28 2009 // Glencairn, a division of Faber & Dumas, the global third-party wholesale insurance broker established in London by Willis, announced that John Andrews has joined the company as Account Executive. He will help...
Obama Taps The Hartford’s Wolin for Key Economic Policy Post
Jan 28 2009 // The Hartford Financial Services Group, Inc. today announced that Neal Wolin, president and chief operating officer of the company’s Property and Casualty Operations, has accepted a position in the White House as...
State Farm Pulling Out of Florida Property Insurance Market
Jan 27 2009 // Florida is losing its largest property insurance company. State Farm Florida Insurance announced today it is beginning the process that will allow it to non-renew policies and halt all sales of homeowners or other...
American E&S Offers Vacant Property Insurance Program
Jan 27 2009 // San Francisco-based American E&S Insurance Brokers is offering property and general liability coverage for vacant commercial and residential buildings. Available nationwide (except Kentucky), the program is available...
