Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Remember the Lessons of Hurricane Andrew
Oct 11 2004 // Due to efforts to rebuild the Florida property insurance market after Hurricane Andrew, most policyholders in the wake of 2004s more costly hurricane season should not face the same post-Andrew price increases or limited...
MarketScout: Property Market Halts Rate Reductions
Oct 1 2004 // MarketScout recently released its market barometer update for the month of September. According to Richard Kerr, chairman and CEO of MarketScout: “Estimated total insured losses for the 2004 hurricane season will...
Aspen Announces Plans to Expand and Diversify; Best Comments
Oct 1 2004 // Aspen Insurance Holdings Limited announced from its Bermuda headquarters the next stages in the development of its corporate strategy as it expands its business in Bermuda and further diversifies its operations. “In...
The Hartford Reports Q3 Earnings
Sep 30 2004 // The Hartford Financial Services Group Inc. today estimated its 2004 third quarter earnings per fully diluted share at between $0.85 and $0.95. This estimated range assumes no net realized capital gains or losses or unusual...
LDI Estimates Nearly $7.2M in Damages from Ivan
Sep 30 2004 // Louisiana Commissioner of Insurance Robert Wooley reported that the Louisiana Department of Insurance’s first estimate of Hurricane Ivan damage in Louisiana is $7,170,000.00, based on a survey of the major insurance...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
$4.4 Billion Claims Expected for Hurricane Frances
Sep 27 2004 // Homeowners and businesses are expected to file claims totaling an estimated $4.4 billion for insured property losses from Hurricane Frances, according to a preliminary estimate by ISO’s Property Claim Services (PCS)...
Chubb Develops Next Generation Coverage for Life Sciences Companies
Sep 27 2004 // The Chubb Group of Insurance Companies announced that it has launched a portfolio of policies to help protect life sciences companies from property and casualty exposures faced by the industry. “Chubb’s...
Insurers to Pay an Estimated $4.4 Billion for Claims From Hurricane Frances
Sep 23 2004 // Homeowners and businesses are expected to file claims totaling an estimated $4.4 billion for insured property losses from Hurricane Frances, according to a preliminary estimate by ISO’s (www.iso.com) Property Claim...
Endurance Names Patschak New Head of Property Catastrophe Reinsurance Business
Sep 22 2004 // Bermuda-based Endurance Specialty Holdings Ltd. announced that Susan J. Patschak has joined Endurance Specialty Insurance, Ltd. as the head of its Property Catastrophe Reinsurance business unit. She joins Endurance with...
Safeway Property Downgraded
Sep 20 2004 // A.M. Best Co. downgraded the financial strength rating to “B” (fair) from “B++” (very good) of Safeway Property Ins. Co., based in Gainesville, Fla. The outlook is negative. The downgrade recognizes...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Heath Names Kaspar as Property Broker
Sep 20 2004 // Specialty-lines brokerage Heath Insurance Brokers announced that Chris Kaspar has joined its Chicago office as an assistant vice president and property broker. He comes to Heath after spending eight years working in the...
Commercial Property
Sep 20 2004 // Nuts & Bolts: AXIS U.S. Insurance’s excess and surplus property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. The underwriting of this specialized...
Best Downgrades AXA Re Property/Casualty
Sep 17 2004 // A.M. Best Co. has downgraded the financial strength rating to “B++” (Very Good) from “A-” (Excellent) of AXA Re Property and Casualty Insurance Company (New York, N.Y.). The rating outlook remains...
Max Re Establishes Property Underwriting Capability
Sep 16 2004 // Bermuda-based Max Re Capital Ltd. announced that its subsidiary, Max Re Ltd., has increased its product offerings by the formation of a dedicated property division. The department will provide insurance and reinsurance...
S&P: Challenges to Property Catastrophe Reinsurers
Sep 16 2004 // Standard & Poor’s Ratings Services has published a review of the property catastrophe reinsurance industry, titled “Is Property Catastrophe Reinsurance a Commodity,” examining its commodity-like...
Disaster Assistance Option for Insured Property Owners Following Hurricanes
Sep 13 2004 // People who have applied for assistance for hurricanes Charley or Frances may still be able to get help even if they got a letter from the Federal Emergency Management Agency (FEMA) telling them they are not eligible at...
N.C. Receives Federal Aid Programs
Sep 11 2004 // North Carolina is receiving federal aid programs to help in the aftermath of Tropical Storm Frances. The following is a summary of key federal disaster aid programs that can be made available as needed and warranted under...
A.M. Best Moves Rating for Safeway Property Insurance Co. Under Review
Sep 8 2004 // A.M. Best Co. has placed the financial strength rating of B (Fair) of Florida-based Safeway Property Insurance Company under review with negative implications. This rating action is being taken as a result of the decline...
