Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
N.Y. Agents Decry Failure to Make Back-Up Property Insurer Permanent
Jul 7 2006 // The New York State Legislature once again missed an opportunity to help calm a growing homeowners insurance crisis in the downstate region, according to the state’s insurance agents. With insurance companies such as...
OneBeacon Flexes for Commercial Property, Inland Marine Risks
Jul 6 2006 // Commercial and industrial operations, ownership interests, and companies with multi-state locations have a new option from OneBeacon Insurance for safeguarding themselves against loss. With Flex, its new property product,...
N.Y. Title Insurance Rates Slashed
Jun 30 2006 // New York Superintendent of Insurance Howard Mills and Attorney General Eliot Spitzer announced that the insurance department has approved 15 percent rate reductions for title insurance companies that cumulatively have 93...
Texas Enforcement Actions in May Result in More than $224K in Fines
Jun 30 2006 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during May. The actions include eight license revocations and fines and restitution totaling...
House Advances Federal Flood Bill
Jun 29 2006 // The federal flood insurance program, still reeling from historic losses from Hurricane Katrina, may get a helping hand from Congress. The House voted 416-4 Tuesday to phase out subsidies on some vacation homes and...
Fidelity National P/C Acquires Southern Family Flood Fla. Policies
Jun 28 2006 // Fidelity National Property and Casualty Insurance Co. has received approval from the Circuit Court of Florida to purchase all of the existing flood insurance policies of Southern Family Insurance Co. through the Florida...
U.S. P/C Industry Posts Record 1Q Profits; Net Gain on Underwriting Rises Nearly 21%
Jun 28 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio — a key...
Citizens Property Completes $3.05B Bond Sale
Jun 27 2006 // Citizens Property Insurance Inc. successfully completed a $3.05 billion bond sale Tuesday, boosting company reserves for damage claim payment if a storm strikes, a company official said. “We had a very successful...
Florida Approves Surcharge for Property Insurance Policies
Jun 26 2006 // Florida has approved a 2 percent surcharge on all property insurance policies to help cover outstanding claims for one of Florida’s largest property insurers, whose insolvent subsidiaries are being liquidated under...
Insurer Group Sets Policy on Natural Disaster Issues
Jun 26 2006 // The National Association of Mutual Insurance Companies (NAMIC) has adopted a statement on natural disasters that asserts a flexible regulatory environment in which insurers are free to price coverage based on risk will...
Citizens’ Reps Appeal to Florida Agents for Help, Cooperation
Jun 20 2006 // Citizens Property Insurance Co. officials recently told agents meeting in Orlando that Florida’s insurer of last resort is “as ready as they are going to be,” to face the 2006 hurricane season. Paul...
Editor’s Note: Commercial property appeal
Jun 19 2006 // According to Fitch, increases are running between 25 percent and 400 percent for windstorm and flood insurance premiums since the June 1 start of this year’s hurricane season. Six hurricanes in 2005 caused $57.3...
New Property and Casualty Insurer Opens in Irving, Texas!
Jun 16 2006 // Irving, Texas – A new Property and Casualty insurer, Homeowners of America Insurance Company, has opened in Irving, Texas. Homeowners is a Texas company specializing in protecting residential property for Texans. In...
Davis Makes Proposals to Fix Florida’s Property Insurance Problems
Jun 12 2006 // Windstorm insurance companies would have to cover water damage caused by hurricanes under a proposal Democratic gubernatorial candidate Jim Davis released June 9, part of a multi-pronged proposal to solve the problems...
Aspen Names Boornazian to New Post – Head of Reinsurance
Jun 8 2006 // Bermuda-based Aspen Insurance Holdings Limited has named Brian Boornazian to the newly created position of Head of Reinsurance of Aspen. He will retain his current position as President of Aspen Re America as well as its...
Fla. Rep. Waters: Hurricane Party Mentality Has Been Replaced by Hurricane-Stress
Jun 6 2006 // The hurricane party mentality is gone, replaced by hurricane stress, Rep. Leslie Waters, R-Pinellas, told the Florida Suncoast Chapter of the Chartered Property and Casualty Underwriters at the group’s June 5 meeting...
Mercator Risk Adds Broker Duo to Lead Midwest Property Practice
Jun 5 2006 // New York-based Mercator Risk Services, an independent wholesale insurance broker, has added two key members to its growing Midwest Property Practice. Jason Tegan and Libby Wakolbinger have joined Mercator’s Chicago...
Only 12 of 18 perils happen in Florida, ‘So what’s your problem?’ quips moderator
Jun 5 2006 // The country has experienced 18 different types of natural disasters, while Florida deals with “only” 12 of these perils. Yet insurers and consumers have big problems in Florida. “When you go through the...
Hartwig predicts profitable 2006, sees premium growth grinding to a halt
Jun 5 2006 // The last 24 months have been traumatic for the insurance industry, but the profit picture for 2006 is quite good in the industry overall, Robert P. Hartwig, Insurance Information Institute senior vice president and chief...
Millions of renters lack insurance, says Trusted Choice survey
Jun 5 2006 // Almost 25 million U.S. families renting their homes are going bare on insurance coverage, leaving themselves vulnerable to serious property and liability losses. Many renters without coverage own valuable, high-tech...
