Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Insurers Urge Calif. to Drop Proposed Rate of Return Regulations
Sep 13 2006 // Three property/casualty insurance trade associations urged the California Department of Insurance (CDI) to abandon proposed regulations that would radically change how the CDI reviews and approves insurance company rate...
Fla. Commercial JUA Hires Carrier, Moves Closer to Operation
Sep 7 2006 // Florida’s residual market for commercial insurance is closer to realizing its plan to provide coverage for businesses with property valued under $1 million that can’t obtain coverage in the private insurance...
Morrello Joins Beazley’s U.S. Mid-Market Commercial Property Team
Sep 7 2006 // Joseph Morrello has been hired as Beazley Group plc’s U.S. Eastern region underwriting manager, mid-market commercial property, covering the east coast from Maine to Florida. Beazley has been underwriting U.S....
Beazley Launches Lloyd’s Facility for U.S. Commercial Property Cat Risks
Sep 6 2006 // The London-based Beazley Group plc, a leading Lloyd’s insurer, has created a facility in the Lloyd’s market for catastrophe – exposed U.S. commercial property risks. Beazley said its “Quincat...
Fitch: P/C Insurers’ Performance Exceeding Estimates for ’06
Sep 6 2006 // The U.S. property/casualty insurance industry showed continued favorable and improved operating performance in the first half of 2006 and, based on first-half results and barring any unusual events going forward, the...
Texas Regulators Announce July 2006 Enforcement Actions
Sep 5 2006 // The Texas Department of Insurance recently announced enforcement actions taken by Commissioner Mike Geeslin that became final during July. The actions include 24 license revocations, one license denial and fines and...
What’s Next in Terrorism Insurance Market…and Politics?
Sep 5 2006 // Terrorism insurance has become increasingly common and affordable five years after Sept. 11. But that market has only emerged with the federal government’s pledge to serve as an insurer of last resort — assistance...
News Currents
Sep 4 2006 // Six in 10 businesses now buying terror coverage, Marsh reports Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003...
Six in 10 businesses now buying terror coverage, Marsh reports
Sep 4 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004. Meanwhile, the...
Establishing ethics for insurance professionals
Sep 4 2006 // The American Institute for Chartered Property and Casualty Underwriters (AICPCU), the American College and the Society of Financial Service Professionals founded Ethics Awareness Month in 1990. While it is impossible for...
News Currents
Sep 4 2006 // There are “35 million people living along the hurricane-prone coast that stretches from North Carolina to Texas. Half of these live in Florida, 10 million on the Atlantic coast and seven million on the Gulf coast....
Hurricanes Katrina and Rita spawn legislation, bulletins in Miss. and La.
Sep 4 2006 // Hurricanes Katrina and Rita exposed many misconceptions and misunderstandings that consumers had, or claimed to have had, with respect to their insurance coverage for hurricane related damage. The aftermath of these two...
Rates are softening
Sep 4 2006 // As the surplus lines world turns to another year of soft market conditions, specialists and innovators may be the ones to survive as increasing competition intensifies, according to excess and surplus lines brokers,...
Court: Pennsylvania agents have no duty to inspect flood risks
Sep 4 2006 // Insurance agents and insurers in Pennsylvania were breathing a sigh of relief following a court ruling that says agents do not have a duty to inspect all properties before binding or renewing flood insurance coverage. Had...
Northeast leads in businesses buying property terrorism coverage
Sep 4 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004. A report from...
Establishing ethics for insurance professionals
Sep 4 2006 // The American Institute for Chartered Property and Casualty Underwriters (AICPCU), the American College and the Society of Financial Service Professionals founded Ethics Awareness Month in 1990. While it is impossible for...
Mo. State Treasurer Matching Veterans with Missing Property
Sep 1 2006 // Missouri State Treasurer Sarah Steelman this week announced that she is working to connect military veterans with property the state may be holding for them. The treasurer’s office oversees about $400 million worth...
Holmes Joins Praetorian Property Unit
Sep 1 2006 // Praetorian Financial Group, a U.S. specialty insurer and subsidiary of Hannover Re, has appointed Jason G. Holmes as senior vice president and property practice leader. Before joining Praetorian, Holmes was aat GEP II, an...
Grant Joins SWBC as CEO of Property and Casualty Division
Aug 29 2006 // San Antonio, Texas-based Southwest Business Corporation (SWBC) announced that Nick Grant has joined SWBC as the chief executive officer of the Property and Casualty Division in their San Antonio office. As CEO of the...
FARA Launches Property Services Division for Non-Catastrophe Claims
Aug 27 2006 // Mandeville, La.-based FARA announced the creation of its latest division, FARA Property Services. The company’s newest operation will manage non-catastrophe claims in connection with FARA Catastrophe Services Inc....
