Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Court: Insurer Has Right to Reimbursement for Settlement Monies
Jun 12 2008 // A federal district court in Nevada has ruled that an insurer has a right to reimbursement for settlement monies paid for non-covered damages. In Great American Insurance Company of New York v. Vegas Construction Company,...
Mold: Underwriters Endorsing CGL to Remove Coverage
Jun 11 2008 // Contractors are the target of nearly 2,000 mold-related lawsuits annually according to a 2003 report from toxlaw.com. When accused or sued for injuries and damages resulting from mold, contractors look to their commercial...
HSB InSight Addresses Inadequate Business Property Valuations
Jun 11 2008 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB) is now offering HSB InSight, a new insurance-to-value (ITV) service designed to help insurers address inadequate valuations for business personal property and...
Texas’ April Enforcement Actions Result in $771K in Fines, Restitution
Jun 10 2008 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during April 2008 include nine license revocations, two license denials and fines and restitution totaling $771,165. The today...
California Lawmakers Address Disaster Response, Automative Repair, and More
Jun 6 2008 // California lawmakers recently approved several insurance-related bills, addressing such topics as disaster response and automative repair following a crash. Following is a summary of recent legislation, as provided by the...
U.S. Risk Names Siceloff a Senior Broker
Jun 6 2008 // U.S. Risk Insurance Group Inc. named Mark J. Siceloff as a senior broker with U.S Risk Brokers, the company’s wholesale excess and surplus lines insurance brokerage operations. He will be based in U.S. Risk’s...
Property Casualty Insurers Association Hires Sr. VP of Public Affairs
Jun 4 2008 // The Property Casualty Insurers Association of America (PCI) has hired Marguerite Murer as senior vice president of public affairs. Murer has extensive public affairs experience in both the public and private sectors. She...
Poizner Deploys Fraud Investigators to ‘Summit Fire’ Zones
Jun 2 2008 // Insurance Commissioner Steve Poizner dispatched California Department of Insurance fraud investigators and staff to the Summit Fire zones near Santa Cruz, Calif. to provide assistance to survivors as they face the daunting...
Storm Ready
Jun 2 2008 // Forecasters predict that the 2008 Atlantic hurricane season will be an active one for hurricane and tropical storm formation. The National Oceanic and Atmospheric Administration’s most recent forecast calls for 12 to...
People
Jun 2 2008 // Markel Corp.’s Board of Directors elected Anthony F. (Tony) Markel vice chairman and Paul W. Springman president and chief operating officer. Markel served Markel Corp. for more than 40 years, most recently as...
Insurance Companies Face Global Warming Claims
Jun 2 2008 // Corporations exposed to liability for greenhouse gas emissions The industry is about to enter an era of global warming insurance claims. Scientists have been warning about the impact global warming could have if greenhouse...
Storm Ready
Jun 2 2008 // Forecasters predict that the 2008 Atlantic hurricane season will be an active one for hurricane and tropical storm formation. The National Oceanic and Atmospheric Administration’s most recent forecast sees 12 to 16...
Good Time to Lock in Property Insurance Pricing, Advise Brokers
May 30 2008 // Science and technology are converging with risk management to help insurers negotiate the current hurricane season such that it’s now possible to use short-term hurricane forecasts — as few as 10 days out...
Fireman’s Fund Names Head of Inland Marine and Related Property
May 29 2008 // Novato, Calif.-based Fireman’s Fund Insurance Co.’Specialty Business named Michael Berg vice president/product executive for Inland Marine and Related Property. In this position, Berg will lead product strategy...
CGL Extends Coverage for Injury Arising from Defective Construction
May 28 2008 // Property damage resulting from defective construction is unquestionably excluded in the commercial general liability policy; but what about bodily injury? And is injury or damage caused by the growth and proliferation of...
Kuwait Offer $792 Million for Willis New Building; Sets Property Marker
May 27 2008 // Kuwait’s landmark offer for London’s Willis Building this week has given the prime City office market a lift, but is not the beginning of the end for Britain’s property downturn. By agreeing to buy the...
Colorado Casualty Offers Commercial Lines Products
May 21 2008 // Englewood, Colo.-based Colorado Casualty, a Liberty Mutual Agency Markets regional company, is introducing its new commercial lines product portfolio and Web-based underwriting application to agents in Colorado, Nevada,...
$3M Ohio Mold Decision Kindles Coverage Questions
May 19 2008 // Insurance professionals took note recently when a Franklin County, Ohio judge awarded $3 million plus legal costs to a family whose central-Ohio home became overrun with toxic mold, presumably caused by the...
Nine Catastrophes to Cost P/C Insurers $3 Billion in First Quarter
May 19 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35 billion for first-quarter property losses resulting from nine catastrophes. The nine events identified as catastrophes by the...
Kansas City Chartered Property Casualty Underwriters Elect Officers
May 15 2008 // In preparation for another successful chapter year, the Kansas City Chapter of the CPCU Society (Chartered Property Casualty Underwriters) recently elected its 2008-2009 officers. Beginning May 12, 2008, Bill West, CPCU,...
