Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Citing ‘Broken Promises,’ Paint Firms Seek New Trial in R.I.
Apr 20 2006 // Claiming the verdict involved a series of “broken promises by the state which resulted in a flawed trial and an erroneous verdict,” three defendants in the Rhode Island lead pigment case have asked the court to...
RMS Estimates Repeat of 1906 San Francisco Quake Would Cause $50 Billion to $80 Billion in Insured Losses
Apr 19 2006 // Based on 2006 population and property exposures in the San Francisco Bay area, Risk Management Solutions, Newark, Calif., estimates there would be at least $260 billion in damages to residential and commercial exposures if...
RLI Corp. Posts Strong 1st Quarter Results; Hosts Conference Call Today
Apr 18 2006 // Peoria, Ill.-based RLI Corp. reported first quarter net earnings of $25.7 million compared to $29.3 million reported in the same quarter last year. Operating earnings were $22.8 million ($0.86 per share) for the first...
Sound Risk Management, Strong Investment Results Prove Positive for P/C Industry
Apr 18 2006 // U.S. property/casualty insurers managed to increase earnings and add to their capital base in 2005 despite record catastrophe losses, according to ISO and the Property Casualty Insurers Association of America (PCI). Sound...
People
Apr 17 2006 // Palisades Safety and Insurance Management Corporation, a New Jersey private passenger automobile insurer, announced that Ed Fernandez has assumed the role of president and CEO, effective immediately. Fernandez succeeds...
Editor’s Note: Close to home: 1906 revisited
Apr 17 2006 // April 18 marks the 100th anniversary of the great San Francisco earthquake of 1906, a catastrophe that affected thousands of lives, caused hundreds of millions of dollars in damage and generated aftershocks in insurance...
Editor’s Note: Close to home: 1906 revisited
Apr 17 2006 // If an earthquake similar to that of the 1906 San Francisco quake were to hit a metropolitan area, today, the losses would be staggering. April 18 marks the 100th anniversary of the Great San Francisco Earthquake of 1906, a...
People
Apr 17 2006 // Atlanta, Ga.-based BrightServ has appointed Michael Frank senior vice president, Insurance Services. His responsibilities include overseeing client requirements, managing client contractor programs and BrightServ processes...
Tim Summers
Apr 17 2006 // People Pacific Specialty Insurance Co., Menlo Park, Calif., promoted Tim Summers to chief operating officer. Summers will continue his duties as executive vice-president and corporate secretary, overseeing the product...
Editor’s Note: If 1906 repeated itself in a major metropolitan space … during working hours … there would
Apr 17 2006 // $7 billion in workers’ compensation losses. Close to home: 1906 revisited April 18 marks the 100th anniversary of the Great San Francisco Earthquake of 1906, a catastrophe that affected thousands of lives, caused...
Product Integrates Property Risk Mapping, Insurance-to-Value Tools
Apr 14 2006 // CDS Business Mapping LLC, a provider of online property risk mapping, and e2Value®, Inc., a provider of Insurance-to-Value Internet applications, have agreed to integrate e2Value’s replacement cost tools with...
Summation of Insurance-Related Bills Speeding Through Fla. Legislature
Apr 14 2006 // With Spring meetings of the Florida Legislature coming to an end in Tallahassee in May, the Florida Insurance Council has summarized insurance-related bills now being considered in the House and Senate. Sam Miller,...
Insurance Industry on Solid Financial Footing, But Overall Results Mask Problems in Certain Lines, Locations
Apr 10 2006 // The property/casualty insurance industry will report an increase in its capital base and an overall profitable performance in 2005, enabling it to meet the insurance needs of the growing U.S. economy, according to...
Fla. Senate Looks for Ways to Solve Property Insurance Problems
Apr 7 2006 // With thousands of Floridians reeling from huge property insurance premium spikes as yet another hurricane season approaches, a Senate panel began discussion Wednesday of ways to fix what many say is a broken hurricane...
Senators Introduce Optional Federal Charter Legislation
Apr 5 2006 // Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators today unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation...
Western insurance associations: How the West is run
Apr 3 2006 // Editor’s note:This is the first article in a series on Western insurance associations. Part II of this article will appear in a future issue. As people migrate to the West to enjoy the weather and opportunities for...
Measuring Risk: Insurers’ day of reckoning arrives
Apr 3 2006 // The threat of more natural disasters could make 2006 a watershed year in how the insurance industry measures risk. With American carriers revamping their reporting and management structures, insurers are expected to...
Fitch: Deterioration in profits for U.S. P/C sector
Apr 3 2006 // The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is...
Commissioner Long calls for strengthening N.C. building codes
Apr 3 2006 // North Carolina officials believe tougher and better building codes are essential to protect property along the coast and safeguard the state’s strong property insurance market. News Currents Tougher building code...
Louisiana, Texas look to bonds for cat funding
Apr 3 2006 // With record hurricane losses in back to back seasons, states along the U.S. Gulf Coast are aiming to boost reserves for their insurers of last resort through the issuance of catastrophe bonds. Louisiana is hard at work...
