Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Key Items Still Need to be Resolved in NCOIL Claims History Info Use Model
Mar 8 2005 // Model legislation that would restrict how insurers could use claims history information when underwriting property-casualty insurance coverage moved several steps closer to a vote when the National Conference of Insurance...
Property Program for Public Entities
Mar 7 2005 // Nuts & Bolts: Victor O. Schinnerer and Co. is offering an admitted property policy for all types of public entities. The policy features a specialized property enhancement for public entities, which provides higher...
14 South Floridians Indicted in Dade County for Filing False FEMA Claims
Mar 4 2005 // Fourteen South Floridaians were indicted this week for filing false claims to obtain Federal Emergency Management Authority grants and charged with federal wire and mail fraud. Federal legislators meeting in Washington...
FM Global Sees Strong Numbers for 3rd Straight Year
Mar 2 2005 // Commercial and industrial property insurer FM Global has reported a third consecutive year of strong operating performance, with 2004 marking a period in which the company increased its policyholder surplus significantly;...
Citizens Lost First Round; Stalling Payments Until After Another Court Decision
Feb 21 2005 // Citizens Property Insurance Co. is in the limelight again, this time because it is refusing to pay property losses, even after losing a South Florida appeals court decision. Hurricane Irene brought both wind and water when...
IAG Plans to Buy 25% of China Pacific Property
Feb 21 2005 // Insurance Australia Group (IAG), the country’s largest automobile and home insurer, is reportedly planning to buy a 25 stake in China Pacific Insurance Co.’s property unit. A report from Bloomberg.com said that...
Commercial Insurance Posts Full Year in Soft Market, RIMS Survey Reveals
Feb 21 2005 // The commercial insurance industry experienced a full year of a soft market conditions in 2004, as the last months of the year represented the fourth consecutive quarter of declining prices, according to the RIMS Benchmark...
E&S Markets Medium, Softening Across the Board
Feb 21 2005 // Rising property prices and a healthy economy after the election year have encouraged competition for casualty business. Although account size is sometimes a factor in the directions prices move, E&S specialists say...
Louisiana: We Are Building It, Will They Come’
Feb 21 2005 // Ihave the privilege of serving as vice president of the Louisiana Surplus Line Association (LSLA) and chairman of the Louisiana Surplus Line Task Force. Our goal has been to share our thoughts on regulatory reforms and...
PCI Urges Market-Oriented Solutions to Florida’s Hurricane Insurance Issues
Feb 18 2005 // The Florida Joint Select Committee on Hurricane Insurance, meeting in Tallahassee this week, approved a series of recommendations for the Legislature that broadly affect the state’s property insurance market and...
Schinnerer Offers New Property Program for Public Entities in Most States
Feb 17 2005 // Schinnerer is now offering an admitted property policy for all types of public entities through the Insurance Company of the West (ICW), an A.M. Best A- rated company. The policy features a specialized property enhancement...
PCI: New York’s Guaranty Funds Need Both Short and Long-Term Reform
Feb 16 2005 // Shifting funds from one New York guaranty fund to prop up the state’s floundering Workers’ Compensation Security Fund will reportedly only jeopardize the solvency of the Property/Casualty Security Fund and...
Markel Unveils New Program for B&B’s, Country Inns
Feb 9 2005 // Markel Insurance Company announced a new program specifically designed to meet the unique insurance needs of B&Bs and country inns. This specialty lodging niche is reportedly experiencing heavy growth, with about...
ISO: Insurers Pay a Record $27.3B in 2004 Cat Losses
Feb 9 2005 // U.S. property/casualty insurers paid a record $27.3 billion for insured property losses to homeowners and businesses from 22 catastrophic events last year—surpassing losses from 2001 that included the Sept. 11...
S&P: U.S. Property/Casualty Insurers Continue To Boost Loss Reserves For Old Business
Feb 8 2005 // For U.S. property/casualty insurers, periodic glimpses of rising profitability have been overshadowed by relentless price-cutting, natural and man-made catastrophes, and claims inflation. Following an unprecedented surge...
GL/Property – Restaurant and Hospitality
Feb 7 2005 // Nuts & Bolts: Wausau Insurance rolled out the latest in a series of Wausau Express package policies for property and general liability–with the newest versions designed for restaurant and hospitality businesses....
GL/Property – Restaurant and Hospitality
Feb 7 2005 // Nuts & Bolts: Wausau Insurance rolled out the latest in a series of Wausau Express package policies for property and general liability–with the newest versions designed for restaurant and hospitality businesses....
Pagoumian Named President of Napco
Feb 1 2005 // Napco LLC, a New Jersey-based wholesale property and casualty broker, announced the appointment of David Pagoumian as president and chief operating officer. Pagoumian will be responsible for the operation and direction of...
The Hartford Sees 37% Gain in Q4 Net Income to $620M
Jan 28 2005 // The Hartford Financial Services Group Inc. reported a 37-percent increase in fourth quarter 2004 net income to $620 million, or $2.08 per diluted share, hitting an all-time quarterly record. Net income in the current...
A.M. Best Affirms Ratings for Southern Farm Bureau Casualty Group; Outlook Stable
Jan 27 2005 // A.M. Best Co. has affirmed the financial strength ratings of A++ (Superior) of Southern Farm Bureau Casualty Group (SFB) (Ridgeland, Miss.). The rating outlook has been revised to stable from negative. Concurrently, A.M....
