Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 14 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same...
Fla. Gov. Crist Weighs Suing Property Insurers Over Rates
Jan 13 2008 // Gov. Charlie Crist has asked three trial lawyers to review documents for a possible class-action lawsuit against property insurers, alleging that the industry hasn’t passed on savings to consumers as required by...
People
Jan 13 2008 // Giant insurance broker Marsh announced changes to its global organizational structure as well as several senior management appointments. Marsh said its global insurance broking business will be consolidated into two...
People
Jan 13 2008 // Dallas-based regional insurer, The Republic Group, appointed Jim Drawert to the new position of vice president – Industry Relations. Additionally, Cathy Link has joined Republic as chief underwriting officer. Drawert...
Subprime Contagion: Where Will the Litigation Wave Spread Next?
Jan 13 2008 // The subprime mortgage meltdown has been a leading story on the front pages of newspapers around the country for the past few months. The uproar also has led to a flood of new lawsuits and to concerns about how much further...
FBI Study: Violent, Property Crime Rates Decline
Jan 13 2008 // Crime rates dropped for the first time in two years, according to a newly released report of the most recent data collected by the Federal Bureau of Investigation. Nationwide, violent crime fell 1.8 percent and property...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped in 3rd Quarter
Jan 13 2008 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Assessing Catastrophe Risk While Underwriting Doesn’t Require Big Changes
Jan 13 2008 // A little data can go a long way to improve risk selection in catastrophe prone areas For companies writing homeowners insurance in catastrophe prone states, the future of catastrophe risk assessment is now. Today, insurers...
Fla. Appoints Select Committee on Property Insurance Accountability
Jan 10 2008 // Senate President Ken Pruitt, R-Port St. Lucie, today appointed the Senate Select Committee on Property Insurance Accountability. The Committee will be co-chaired by Sen. Jeff Atwater, R- North Palm Beach, and Senate...
California Governor To Propose Homeowners, Business Property Insurance Policy Tax
Jan 10 2008 // California Gov. Arnold Schwarzenegger is expected to propose a 1.25 percent tax on homeowners and business property insurance policies when he unveils his state budget today. “The expected proposal will unfairly...
Guaranty Fund System Continues to Deliver
Jan 4 2008 // At the heart of every property and casualty insurance contract lies a promise to soften the blow of misfortune. But what happens when an insurance company becomes financially troubled, fails and is no longer able to uphold...
Top Insurance Stories in 2007 in Southeast
Dec 31 2007 // High heat, changing winds put reputations on the line. 1. Florida’s gamble “It’s all about rates,” maintained Sam Miller, of the industry’s Florida Insurance Council. Florida lawmakers in...
Top Insurance Stories in 2007 in East
Dec 31 2007 // New leaders tackled old issues and the region battled fire and rain. 1. No day at the beach Insurance markets for coastal properties continued to challenge insurers, agents, policymakers and property owners, despite an...
Conn. Private Coastal Insurance Market Works, Say Commissioner and Insurers
Dec 27 2007 // Acknowledging the ongoing concern over coastal property insurance in his state, Connecticut Insurance Commissioner Thomas Sullivan maintained that the state’s coastal property insurance market is in pretty good shape...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped
Dec 27 2007 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Make the Most of the Mexico-bound
Dec 23 2007 // Auto coverage essential; homeowners a growing market Recent snow and rain at many people’s doorsteps signal that it’s the high season for snowbirds to flock south for the winter. And those driving beyond the...
Subprime Contagion: Where Will the Litigation Wave Spread Next?
Dec 23 2007 // The subprime mortgage meltdown has been a leading story on the front pages of newspapers around the country for the past few months. The uproar also has led to a flood of new lawsuits and to concerns about how much further...
Subprime Contagion: Where Will the Litigation Wave Spread Next?
Dec 23 2007 // The subprime mortgage meltdown has been a leading story on the front pages of newspapers around the country for the past few months. The uproar also has led to a flood of new lawsuits and to concerns about how much further...
Allianz Sells Property Portfolio to Whitehall Funds for $2.45 Billion
Dec 21 2007 // Allianz Immobilien GmbH, a real property investment subsidiary of German insurer Allianz SE, has sold a portfolio of commercial property worth some €1.7 billion ($2.45 billion) to subsidiaries of the Whitehall Funds,...
Fla. Gov. Asks Lawyers to Review Suing Property Insurers over Rates
Dec 21 2007 // Gov. Charlie Crist said Wednesday he wants three trial lawyers to review documents for a possible class-action lawsuit against property insurers, alleging that the industry hasn’t passed on savings to consumers as...
