Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Md. Gov. Requests SBA Disaster Declaration for Pair of Counties Hit by Floods
Jul 23 2004 // Maryland Gov. Robert Ehrlich has requested that the U.S. Small Business Administration (SBA) declare a Small Business Administration Disaster due to the physical damage incurred by Cecil and Harford Counties by floods on...
Ark. DOI Issues Fairness Directive to P/C Insurers
Jul 22 2004 // Acknowledging that Arkansas law imposes minimal restrictions on underwriting, the Arkansas Insurance Department nevertheless announced that it expects property and casualty insurers to give proper attention to the explicit...
Axis Introduces New Commercial Property Capabilities
Jul 21 2004 // Axis U.S. Insurance has announced that its excess and surplus (E&S) property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. Jeffrey Berkshire has joined Axis...
Safeco Posts Strong Profits in All Major P/C Segments
Jul 20 2004 // Seattle-based Safeco announced strong second-quarter results, reflecting the company’s solid underwriting and the competitive strength of its automated sales platform. In addition, weather-related catastrophe losses...
ISO: INSURERS TO PAY OUT $1.65 BILLION FOR Q2 CAT CLAIMS:
Jul 19 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.65 billion for insured property-loss claims from six catastrophes affecting 23 states in the second quarter, according to...
PCI Tells NCOIL That Restrictions on Loss History Are Unnecessary
Jul 18 2004 // The Property Casualty Insurers Association of America (PCI) told lawmakers during a panel discussion that efforts to limit insurers’ access to loss history information on properties are unnecessary and harmful to...
Weiss Report: P/C Insurers Earn $32.3 Billion in 2003, Industry Reports $48 Billion Investment Gain
Jul 14 2004 // Property/casualty insurers more than doubled their profits during 2003, earning $32.3 billion compared to the $13.5 billion reported in 2002, according to Weiss Ratings Inc., an independent provider of ratings and analyses...
A.M. Best: Study Sees Improvement in Canadian Commercial Property Industry
Jul 12 2004 // Commercial property writers in Canada saw better underwriting results for the second consecutive year in 2003, as the line’s net loss ratio decreased about 12.3 points to 49.5 from 61.8 in 2002, according to a study...
ISO: Insurers to Pay Policyholders $1.65 Billion for Q2 CAT Claims
Jul 8 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.65 billion for insured property-loss claims from six catastrophes affecting 23 states in the second quarter, according to...
Fla. Returns Record Amount of Unclaimed Property
Jul 7 2004 // The Department of Financial Services continues to return record amounts of unclaimed property to the rightful owners, according to Florida’s Chief Financial Officer Tom Gallagher. Gallagher announced that during the...
At NAMIC, The Door’s Wide Open to Companies of All Sizes
Jul 5 2004 // Chairman Tim Hegarty Explains How His Trade Group Serves Big and Small Alike What happens when you put giants like State Farm, AIG, Nationwide and Liberty Mutual in a room with tiny farm mutuals like Husbandsmans Mutual,...
Another Soft Market Creates a Hard Reality
Jul 5 2004 // Like a commercial airline scrambling to squeeze out a profit in the face of increased competition and skyrocketing fuel prices, many insurance agents find themselves caught in the downward spiral of another soft market...
Best’s P/C Center Adds Access to Financial Statements
Jul 2 2004 // A.M. Best has introduced its new Property/Casualty Center – Premium Data & Reports, an online product that provides access to select pages of companies’ annual statement data and more by bringing together...
P/C Industry’s Q1 Net Income Doubles
Jun 29 2004 // The U.S. property/casualty industry’s net income after taxes rose to $13.3 billion in first-quarter 2004 from $6.5 billion in first-quarter 2003 as insurers posted an underwriting profit for only the second time...
XL Launches Commercial Property Insurance Initiative
Jun 28 2004 // XL Capital Ltd. announced that its insurance operations will provide commercial property insurance capacity of up to $500 million, allowing it to underwrite entire global property programs on a selective basis. XL’s...
Zurich Global Energy Appoints Two Senior Executives
Jun 23 2004 // Zurich Financial Services announced the promotion of Martin Clark to head of its Global Energy Unit in London and Nick Hodges to the position of international energy property director in its Zurich Global Energy(R)...
Striving for Balance in Louisiana as Reform Efforts Continue
Jun 9 2004 // Insurance and tort reform measures passed by the Louisiana Legislature in 2003, along with efforts by the insurance department and two major insurance agents’ associations to get the word out about the state’s...
ISO’s Coyne: Survival May Be Greatest Challenge for Many P/C Insurers
Jun 8 2004 // With all signs pointing to increasing competition in U.S. property/casualty markets, the most important challenge many insurers face may be survival itself, an industry leader said Tuesday. In remarks at the 76th Annual...
Summer Means Wild Weather in Some Western States
Jun 7 2004 // Summer is here and with it comes unstable weather conditions that can cause problems for consumers and agents alike in some parts of the United States. As if ushering in the season, insurers and insurance organizations are...
Could the California Wildfires Have Been Predicted’
Jun 7 2004 // Lessons for Agents and Insurers In late October 2003, major wildfires broke out in five southern California counties, burning more than 750,000 acres, or an area the size of Rhode Island. These devastating fires burned for...
