Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
The Inflation Specter Looms for Property/Casualty Insurers
Mar 22 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
Insurance Agents on the Front Line of Florida’s Mounting Property Market Problems
Mar 22 2021 // While carriers face growing financial losses in Florida’s distressed property insurance market, insurance agents are on the front lines trying to help their clients who are being hit with double-digit rate increases,...
Citizens’ CEO: Florida Property Insurance Market is Shutting Down
Mar 19 2021 // Florida’s insurer of last resort, Citizens Property Insurance Corp., has become the insurer of first resort as thousands of new policies flood into it each week and the private homeowners insurance market continues...
2.3% Rate Hike for Louisiana Citizens Property Insurance Approved
Mar 18 2021 // Louisiana’s property insurer of last resort will raise personal property insurance rates by 2.3% this year, the state insurance department said. The increase is in line with current inflation rates and evidences...
Insurance Agents on the Front Line of Florida’s Mounting Property Market Problems
Mar 11 2021 // While carriers face growing financial losses in Florida’s distressed property insurance market, insurance agents are on the front lines trying to help their clients who are being hit with double-digit rate increases,...
Aspen’s Bonds Joins CRC as Chief Officer for Property Programs
Feb 23 2021 // National wholesale broker CRC Group announced that Alex Bonds has joined the company as chief officer for Property Programs to lead CRC’s exclusive Insurisk brand’s property facility development. Bonds joins...
QBE Custom Property Coverage Form Targets Mid-Size Company Risks
Feb 17 2021 // QBE North America has launched a new modular property form designed to give underwriters and brokers the ability to tailor a program for each individual customer. The QBE Custom Property product contains 33 additional...
Applied Underwriters Acquires Oklahoma Property and Casualty Insurance
Feb 16 2021 // Applied Underwriters’ affiliate, North American Casualty Co., has completed its acquisition of Oklahoma City-based Oklahoma Property and Casualty Insurance Co. (OP&C). Applied Underwriters plans to make various...
Florida Consumers ‘Flabbergasted’ by Property Insurance Rate Hikes
Feb 12 2021 // Florida property insurers are jacking up rates by double-digit percentages, blaming the hikes on lingering damage from past hurricanes, a wave of litigation, and a law that encourages lawyers to sue by allowing courts to...
Minneapolis Diner Owners Seek $4.5M Suit over Property Damaged in Protests
Feb 10 2021 // The owners of a Minneapolis restaurant have filed the first lawsuit against the city over property damage caused by the civil unrest following the police killing of George Floyd. A federal lawsuit filed by owners of the...
Berkshire Hathaway Specialty Insurance Promotes Blas to Head of Property, Spain
Feb 8 2021 // Berkshire Hathaway Specialty Insurance (BHSI) announced that Tomas Blas has been promoted to head of Property, Spain. Blas, who has 17 years of industry experience, joined BHSI in 2019 as head of Technical Lines in Spain....
Property Catastrophe Bond Placement Reaches Record in 2020 and Q4: Aon
Feb 4 2021 // Approximately $11 billion of property catastrophe bond limit was placed in 2020, the highest on record, according to a new Aon report that projects the growth momentum will continue in 2021. While the year was a record for...
Judge to Rule on Maine Property Boundary Dispute
Jan 29 2021 // A Maine judge will hear arguments in a property boundary dispute that resulted in a Dover-Foxcroft garage being cut in half last year. Gabriel Brawn removed half of the building that he believed was on his land using a...
Louisiana Citizens Property Insurance Policy Count Down, Financial Position Up
Jan 20 2021 // Louisiana Citizens Property Insurance Corp., the state-sponsored insurer of last resort, now in its 14th round of depopulation, continues to shed policies, according to the Louisiana Department of Insurance. The drop in...
Florida’s Property Insurance Market Is ‘Spiraling Towards Collapse’ Due to Litigation: Report
Jan 20 2021 // Florida’s property insurance market is “spiraling towards collapse” and requires immediate attention if there is any chance of protecting the market, consumers, and ultimately, the state’s economy,...
Sompo Int’l Hires Generali’s Brown to Lead New London & International Property Team
Jan 15 2021 // Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced the appointment of Richard Brown to lead a new team focusing on property business through...
Willis Towers Watson Adds Shanghai to Global Markets Property/Casualty Hub
Jan 14 2021 // Willis Towers Watson, the global advisory, broking and solutions company, announced the addition of Shanghai to its global property and casualty hub, aimed at enhancing the company’s global placement model for...
W.R. Berkley Sells Manhattan Real Estate Investment Property
Jan 13 2021 // W.R. Berkley Corp. sold off one of its real estate investments – a New York City office complex – at the end of 2020. The sale generated a $105 million pre-tax net gain, according to the commercial lines specialty...
Study Shows Impact of Property Protections on Texas Windstorm Insurer Rates
Jan 7 2021 // A report prepared by Willis Towers Watson showing the potential impact of increased coastal building standards on premium rates for Texas’ property insurer of last resort for coastal counties is now available for...
Cincinnati’s Core Specialty Makes Key Appointments in Property Division
Jan 6 2021 // Cincinnati, Ohio-based Core Specialty Insurance Holdings Inc. has filled several key roles within its Property Division, led by Alison Oliphant. The company had previously announced its plans to launch this division ahead...
