Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
When Comparing Apples-To-Apples Whom Should You Trust’
May 17 2004 // Hard markets have a way of making insurance company financial strength ratings a hot topic of discussion, and not just among insurance agents and brokers. Professional risk managers and other insurance buyers, consumer...
S&P Report: Property Catastrophe Reinsurance Shows Good Year, Despite Higher Losses
May 13 2004 // Despite higher insured catastrophe losses in the U.S. in 2003, companies writing property catastrophe reinsurance realized very strong operating performance, according to a report published by Standard & Poor’s...
S&P Affirms Montpelier Re Ratings; Outlook Stable
May 12 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “A-” counterparty credit and financial strength ratings on Montpelier Reinsurance Ltd. and its ‘BBB’ counterparty...
RMS, Marshall & Swift/Boeckh Form Partnership to Enhance Property Valuation for Risk Analysis
May 6 2004 // Newark Calif.-based Risk Management Solutions (RMS), a leading provider of products and services for the management of catastrophe risk, and Marshall & Swift/Boeckh (MS/B), leaders in building cost solutions to the...
OneBeacon Joins E&S Property Market
May 6 2004 // OneBeacon Insurance Group LLC, a wholly owned subsidiary of White Mountains Insurance Group Ltd. announced its entry into the excess and surplus lines property business through its new OneBeacon Specialty Property...
IIABA Study Warns on “Electrical Hazards”
May 5 2004 // A survey commissioned by the Independent Insurance Agents & Brokers of America found that out of more than 75 million American homeowners, one out of four never checks for electrical hazards and thus is vulnerable to...
Chubb Introduces an Intellectual Property, Privacy and Communications Liability Risk Management Handbook
May 5 2004 // Chubb has published a new Intellectual Property, Privacy and Communications Risk Management Handbook, “designed to assist companies of any size in evaluating and managing their risk, focusing on copyrighted content,...
N.Y. Again Faces Renewal of FAIR Plan
May 5 2004 // The Professional Insurance Agents of New York State Inc. is asking lawmakers in Albany to reauthorize the New York Property Insurance Underwriting Association, which offers tens of thousands of New Yorkers access to home...
NAMIC: Fla. Legislature Adjourns, Session Productive for Property/Casualty Legislation
May 4 2004 // Florida’s just-ended legislative session “proved to be very productive,” an official with the National Association of Mutual Insurance Companies (NAMIC) said. Florida lawmakers enacted several key...
Property Package for Mercantile/Offices
May 3 2004 // Nuts & Bolts: Cascade/Amstar is offering a new property market for mercantile/offices in buildings up to 60 years old and older buildings 45 to 60 years old. Dollars: Policy limits: Total insured value $250,000;...
Allmerica Reports Improved P&C Earnings for Q1
Apr 28 2004 // Allmerica Financial Corporation (NYSE: AFC) in Worcester, Mass. reported net income for the first quarter of $12.1 million, or $0.23 per share, compared to net income of $37.1 million, or $0.70 per share in the first...
Canadian Firm to Acquire Marshall & Swift/Boeckh
Apr 27 2004 // MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) in British Columbia announced a major expansion of its information products business in the U.S. The company has entered into an agreement to acquire privately held...
Gov. Bush Inks Premium Tax Database Legislation
Apr 27 2004 // Florida Gov. Jeb Bush on Tuesday signed into law a bill creating an electronic database for insurers to use in allocating insurance property and casualty premium taxes. “H.B. 251 is a major step forward in...
NAMIC Cheers Property Lien Bill’s Passage
Apr 23 2004 // On behalf of its 98 member companies domiciled in Ohio, the National Association of Mutual Insurance Cos. (NAMIC) commends Ohio Gov. Bob Taft for signing HB 301 into law. The bill addresses concerns regarding the ability...
Study Shows Commercial Property, GL Rates Falling
Apr 21 2004 // The costs for two major commercial lines insurance fell in the first quarter of 2004, according to a RIMS Benchmark Survey. In the first quarter of 2004, premium prices for property insurance fell by about 1.5 percent....
AIR Launches Catastrophe Risk Engineering Services
Apr 20 2004 // AIR Worldwide Corporation announced the launch of Catastrophe Risk Engineering, described as “a new consultative service that analyzes high value or strategically significant properties to estimate potential human,...
Aon Reports US Commercial Property Rates Drop 10%
Apr 20 2004 // A study by Aon, released to coincide with the RIMS conference in San Diego, has determined that an average reduction of around 10 percent has occurred in U.S. Commercial property rates. Willis and the CIAB also issued...
Springtime Means Rain, Hail and Tornadoes in South Central States
Apr 19 2004 // Spring is here and with it comes unstable weather conditions that can cause problems for consumers and agents alike in the South Central region of the United States. As if ushering in the season, insurers and insurance...
Calif. AGO’s Report Shows Jump in Auto Theft
Apr 16 2004 // While violent crimes showed a decrease, California Attorney General Bill Lockyer announced that preliminary statistics show property crimes rose 2.8 percent in the state’s most populous cities and counties in...
P/C Net Income Propels Surplus
Apr 14 2004 // The property/casualty insurance industry’s net income after taxes rose to $29.9 billion in 2003 — nearly 10 times the industry’s $3 billion in net income in 2002. Benefiting from both the $29.9 billion in net...
