Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida Panel Backs Rate Hikes, Stricter Rules for Citizens
Jan 25 2009 // A special task force is recommending that Florida’s state-backed property insurer, Citizens Property Insurance, be permitted to raise its rates beginning in 2010 and that restrictions on what homeowners it can insure...
Foreclosures, Vacant Properties Increase with Continuing Financial Crisis
Jan 25 2009 // Properties Vulnerable to Vandalism, Theft In communities across America, several factors have combined to create a “perfect storm” of property risk. Growing numbers of foreclosures are leaving scores of...
People
Jan 25 2009 // American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston joined AIG in 1990 serving in senior management positions within...
California Appeals Court Reverses Pollution Liability Decision
Jan 25 2009 // The 4th District of the California Court of Appeals has reversed a lower court decision in a pollution liability case, State of California v. Continental Insurance Co. et al. The decision is likely to influence courts...
Continuing Financial Crisis Leads to Vacant Properties, Vulnerable to Vandalism, Metal Theft
Jan 25 2009 // Brooklyn, N.Y. — Thieves who broke the locks on an unoccupied apartment building stripped the entire building of its copper piping, valued at more than $30,000. Las Vegas — The entire electrical system,...
FBI Reports Drop in Crime Including Property Crimes and Arson
Jan 25 2009 // The nation experienced a 3.5 percent decline in violent crime and a 2.5 percent decline in property crime for the first six months of 2008, according to the Federal Bureau of Investigation. Violent crime was down in all...
London’s Reach Bolsters U.S. Specialty Lines
Jan 25 2009 // Insurers Catlin, Beazley, Amlin, Hiscox and Newcomer Torus Find Their Niche in U.S. Market Find a need, then fill it,” is a hoary business principle, but making it work is often harder than it looks. However, a...
Xl Insurance Hires 8 Engineers for Global Property Loss Prevention
Jan 22 2009 // XL Insurance announced from its office in Hartford that the Company has hired eight new field engineers for its worldwide property loss prevention services business, XL Global Asset Protection Services (XL...
Liberty Mutual Drops Direct Sales to Middle Market Businesses; Puts Faith in Independent Agents
Jan 22 2009 // Liberty Mutual Group is throwing in the towel on direct distribution of insurance to middle market businesses. Since it couldn’t beat independent agents and brokers — who dominate sales in this segment —...
Risk Management Solutions Makes UK Flood Data Available to Public
Jan 20 2009 // Risk Management Solutions announced that its flood mapping data will be made publicly available for the first time. The decision gives “homebuyers far more accurate information about the likelihood of getting...
Lawyers Hope to Fix Catastrophe- Related Insurance Problems
Jan 14 2009 // The nation’s lawyers who deal with insurance issues are developing policy recommendations designed to improve access to insurance coverage, reduce litigation over coverage and mitigate future losses involving natural...
FBI Reports Drop in Crime Including Arson
Jan 12 2009 // The nation experienced a 3.5 percent decline in violent crime and a 2.5 percent decline in property crime for the first six months of 2008, according to the federal Bureau of Investigation (FBI). Violent crime was down in...
Actual Cash Value Versus Replacement Cost Value
Jan 11 2009 // Navigating the Valuation Quagmire As the saying goes, the devil is in the details. And insurance agents would be wise to explain the differences between actual cash value (ACV) and replacement cost value (RCV) to...
Private, Independent and Free
Jan 11 2009 // Ohio-based The Hylant Group Has 12 Locations But Only One Philosophy — Give Customers and Staff What They Need to Succeed Top 100 Agency Profile RANKING: No. 7 Agency Name: The Hylant Group Headquarters: Toledo,...
Florida Panel Backs Rate Hikes, Stricter Rules for Citizens
Jan 9 2009 // A special task force is recommending that Florida’s state-backed property insurer – Citizens Property Insurance — be permitted to raise its rates beginning in 2010 and that restrictions on what homeowners...
2008: Top Stories of the Year
Jan 5 2009 // 2008 can be described as a year like no other in the property/casualty insurance world. This year we saw the near death of the world’s largest and most successful insurance company, AIG. The soft market continued to...
Kentucky Police Use Computer Program to Track Stolen Property
Dec 30 2008 // A computer program is helping western Kentucky police track down stolen property that’s been sold to pawn shops. Paducah’s five pawn shops submit records of transactions, including serial numbers of items...
Insurers Adding Resources to Speed Recovery from Northeast Storms
Dec 23 2008 // A number of insurance companies in the Northeast are bringing in additional claims adjusters to respond to the needs of their hardest hit customers and help speed the recovery process from the recent string of storms that...
Validus Enters Technical Lines Property Coverage with New Underwriter
Dec 23 2008 // Bermuda-based Validus Holdings, Ltd. announced today that it is expanding its business into Technical Lines Property insurance through the creation of Validus Underwriting Risk Services Inc. (VURS), a managing general...
2008: A Year of Financial Storms
Dec 21 2008 // 2008 can be described as a year like no other in the property/casualty insurance world. This year, the industry witnessed the near death of the world’s largest and most successful insurance company, AIG. The soft...
