Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Key Issues Remain Unsolved As Fla. Passes HB 1937
Apr 29 2005 // House Bill 1937 passed with a vote of 96-20 on Thursday, despite opposition about exemptions on paying policy limits. One of the key issues still under consideration is a legislative remedy for a 2004 Florida court...
ISO: Insurers to Pay Policyholders $2.1 Billion for Q1 Catastrophe Losses
Apr 29 2005 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $2.1 billion for insured property-loss claims from eight catastrophes in the first quarter, according to preliminary estimates by...
The Hartford Notes 17% Gain in Q1 Net Income
Apr 28 2005 // The Hartford Financial Services Group Inc. set a new quarterly record with net income of $666 million, or $2.21 per diluted share, in the first quarter of 2005, a 17-percent increase over the prior-year period. Net income...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage, Marsh Study Finds
Apr 28 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Meanwhile, the cost of property terrorism...
Lexington Launches Outsourcing Coverage
Apr 26 2005 // Lexington Insurance Company, a member company of American International Group, announced the launch of “Outsourcing Protector”(SM), a new property insurance offering designed to help companies address the risks...
Experts Report Commercial Property Terrorism Modeling Getting Better
Apr 18 2005 // Insurance companies are getting a better handle on how to estimate commercial property terrorism exposures and price the coverage thanks to advances in computer modeling. Despite the strides made in modeling to estimate...
First Underwriting Profit Since 1978, Investment Gains Send Industry’s Net Income and Surplus to Record Highs
Apr 12 2005 // Benefiting from a rare profit on underwriting and investment gains, the U.S. property/casualty insurance industry’s net income after taxes rose 29 percent to a record $38.7 billion in 2004 from $30 billion in...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Hartford Announces ‘Ocean Companion’ Cargo Rider
Apr 8 2005 // The Hartford Financial Services Group, Inc. announced the launch of its new “Ocean Companion” endorsement, which attaches to the company’s Property Choice policy for medium-sized businesses. It”...
Insurers Offer Advice to Storm Victims in Okla.
Apr 7 2005 // An insurance trade association with responsibility for Oklahoma and Texas reported that the violent storm that struck Tulsa recently will cost tens of millions of dollars in insured losses. “The full extent of the...
Regulators Look for a Clue
Apr 4 2005 // Was it Colonel ChoicePoint in the Conservatory With a Knife? When ChoicePoint Asset Co. finally disclosed Feb. 15 that criminals had gained access to the personal information of as many as 145,000 people in all 50 states,...
What Should be Industry Response to Ethical Lapses?
Apr 4 2005 // CPCU Society Looking at IMSA The property casualty industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid rigging and...
Homeowners Moving to the West Coast
Apr 4 2005 // Whether your client owns a multi-million dollar home overlooking the Pacific Ocean or a small bungalow tucked away a mile from the beach, it is your responsibility to find the right homeowners insurance coverage that will...
Record Rainfall Will Lead to a Flood of Litigation
Apr 4 2005 // As Los Angeles inches toward its highest annual rainfall total on record, the property damage left in the wake of the storms is devastating. All across the Southland, homes have toppled down hillsides as if they were toys....
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
AIG Launches Real Estate Solutions Unit
Mar 28 2005 // The Domestic Brokerage Group of the AIG Companies announced the formation of AIG Real Estate Solutions, a consolidated unit dedicated to serving the insurance and risk management needs of the real estate sector, including...
Fla. Legislators Hammering Out Property Insurance Regulations, Changes
Mar 25 2005 // Major changes in Florida’s property insurance system are being mulled over by Florida lawmakers after the House and Senate have both been wrestling with the topic and have now hammered out changes to tighten up the...
PCI: Fla. Hurricane Cat Fund Changes are Key to Property Market Stability
Mar 22 2005 // The Property Casualty Insurers Association of America (PCI) is urging the Florida Legislature to establish an annual hurricane deductible for insurers and lower the threshold of losses that an insurer must sustain before...
CPCU Society Looking into IMSA Standards Model for P/C Industry
Mar 21 2005 // Should P/C Industry Response to Ethical Lapses Include a Self-Regulatory Body? The property casualty industry’s leading educational society is weighing what role to play in helping the industry restore its image...
