Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
North Carolina Insurance Investigators Thwart Alleged Auto Accident Ring
Oct 15 2008 // North Carolina Department of Insurance investigators arrested five Halifax County residents for their roles in what investigators are calling an auto insurance fraud ring that netted the accused more than $25,550 in...
AIG Commercial Insurance Unit Financially Fit and Fighting Back
Oct 14 2008 // The very strengths in its balance sheet, surplus, underwriting and personnel that have made the Commercial Insurance unit of American International Group (AIG) a market leader are keeping it competitive even while the...
Regulators: 40,000 Policies to be Removed From Louisiana Citizens
Oct 9 2008 // Six insurance companies, some participating in the Insure Louisiana Incentive Program, want to assume 46,898 policies from the Louisiana Citizens Property Insurance Corporation by Dec. 1, 2008. However, Citizens CEO John...
Combined Damages from Gustav and Ike in Louisiana Could Reach $20B
Oct 6 2008 // Preliminary estimates of the combined total physical damage in Louisiana from Hurricanes Gustav and Ike range from roughly $8 billion to $20 billion, not including “temporary economic activity losses or damage to...
In Texas, ‘Trigger’ May Be Trickier Than it Seems
Oct 6 2008 // Trigger — what determines which policy applies. Most liability policies require property damage caused by an occurrence and require that the property damage occur during the policy period. The question, in Texas and...
Lurking Cyber Risks
Oct 6 2008 // Agents Can Become a Trusted Expert for Unaware Businesses A family-run crafts store opens in a strip mall and, after much hard work and long hours, begins to flourish. The store takes credit cards, contracting with a...
AIG to Keep Its Commercial Property/Casualty Insurance, Sell Some Other Units
Oct 3 2008 // American International Group Inc. said it plans to keep its commercial property/ casualty and foreign general insurance businesses, while selling off some life insurance business and seeking alternatives for its securities...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
Build Smart With Passive Protection Systems, Safety Institute CEO Says
Sep 26 2008 // To hear Julie Rochman tell it, she’d like every community in the United States to be resilient in the face of natural disasters. Rochman, president and CEO of the Institute for Business & Home Safety (IBHS) and...
Lexington Arranges Reinsurance from Berkshire for Property Policies
Sep 26 2008 // Surplus lines insurer Lexington Insurance Co. reported that it has arranged a contingent property reinsurance cover from Berkshire Hathaway’s National Indemnity Co. for its real estate portfolio. The cover is also...
Defending Properties Against Natural Catastrophes
Sep 22 2008 // Build Smart With Passive Protection Systems, Safety Institute CEO Says To hear Julie Rochman tell it, she’d like every community in the United States to be resilient in the face of natural disasters. Rochman,...
People
Sep 22 2008 // Swiss Re appointed Walter A. Bell chairman of Swiss Re America Holding Corp. He will provide supervisory governance of the Americas businesses and also will oversee and direct regulatory and public affairs for all of Swiss...
Defending Properties Against Natural Catastrophes
Sep 22 2008 // Build Smart With Passive Protection Systems, Safety Institute CEO Says To hear Julie Rochman tell it, she’d like every community in the United States to be resilient in the face of natural disasters. Rochman,...
Defending Properties Against Natural Catastrophes
Sep 22 2008 // Build Smart With Passive Protection Systems, Safety Institute CEO Says To hear Julie Rochman tell it, she’d like every community in the United States to be resilient in the face of natural disasters. Rochman,...
Why Flood Policy Should Not Include Wind Coverage
Sep 19 2008 // Reuters reports that Representative Barney Frank (D – Mass.) has introduced a bill to extend the National Flood Insurance Program (NFIP) seven months beyond the scheduled September 30, 2008, expiration date to allow...
Property Insurer Affiliated FM Offers ‘Green’ Endorsement on All Risk Policy
Sep 18 2008 // Middle-market commercial property insurer Affiliated FM has introduced a new ‘green’ coverage endorsement to its proVision all-risk property policy. The green endorsement provides flexible coverage for the...
Bermuda Association Explains Reinsurance Risk Spreading Role
Sep 15 2008 // “The global reinsurance market plays an integral role in spreading US hurricane risk around the world,” said a bulletin from the Association of Bermuda Insurers and Reinsurers (ABIR). “Without it, the...
Marsh Sees Credit Crunch ‘Hardening’ Rates, ‘But Not Just Yet’
Sep 12 2008 // According to a recently released report from Marsh, “insurance rates across most lines of business in the Europe, Middle East and Africa (EMEA) region continued to soften in the first half of 2008.” However,...
Wholesaler NIF Adds New Market for Property Risks in 14 States
Sep 11 2008 // Manhasset, New York-based NIF Property Solutions, a division of NIF Group, Inc., said it will act as the exclusive underwriter of a new product for property risks in 14 East and Gulf Coast states. The product is being...
July Enforcement Actions in Texas Result in $500K in Fines
Sep 10 2008 // Enforcement actions taken by Texas Commissioner of Insurance Mike Geeslin in July 2008 include nine license revocations, four license denials and fines and restitution totaling $539,814. Copies of Geeslin’s orders...
