Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Insurers Expected to Pay $4.9B for Q2 CAT Losses
Aug 8 2003 // U.S. property/casualty insurers are expected to pay policyholders an estimated $4.9 billion for insured property-loss claims from four catastrophic events in the second quarter ― the second-highest second quarter in...
CNA Financial Reports Q2 Net Income of $70M; Reductions in Workforce to Occur
Aug 7 2003 // CNA Financial Corporation reported net income for the second quarter of 2003 of $70 million, or $0.25 per share, as compared with net income of $31 million, or $0.14 per share, for the same period in 2002. Net income for...
Vesta Reports Cat Losses for Second Quarter
Aug 6 2003 // Birmingham, Ala.-based Vesta Insurance Group Inc. reported a net operating loss from continuing operations of $5.4 million, or $(0.16) per share in the second quarter of 2003 compared to a net operating loss from...
Insure the Game You Love to Play
Aug 4 2003 // Like most other industries, clubs have been impacted a great deal by the hardening market. While recent pricing has improved slightly, clubs still face pricing, stability and consistency issues with respect to their...
ISO Reports Insurers Expected to Pay $4.9B for Q2 Catastrophe Losses
Jul 29 2003 // U.S. property/casualty insurers are expected to pay policyholders an estimated $4.9 billion for insured property-loss claims from four catastrophic events in the second quarter ― the second-highest second quarter in...
N.J. Man Sentenced for Receiving Stolen Property
Jul 23 2003 // New Jersey Attorney General Peter Harvey announced that a Passaic County man was sentenced by Union County Superior Court Judge Rudy Coleman on a charge of receiving stolen property for possessing a stolen...
ACE Limited Announces Executive Appointments
Jul 18 2003 // Bermuda-based ACE Limited announced that Jaime Paredes will join the ACE Group of Companies next month as chairman and CEO of ACE Latin America. Klaus Gebhardt, currently executive vice president, Global Property at ACE...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing one percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Q1 Numbers an Improvement, But Concerns Stand on the Horizon
Jun 23 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
Reed Construction Data Introduces Property Valuation Software
Jun 19 2003 // Norcross, Ga.-based Reed Construction Data (formerly CMD) announced the launch of its Means CostWorks Valuator software program. This new software program employs cost data from Reed Construction Data’s RSMeans...
Moody’s assigns ‘A3’ Rating to Montpelier Re
Jun 18 2003 // Moody’s Investors Service has assigned an A3 (“Good”) insurance financial strength rating to Montpelier Reinsurance Ltd., the Bermuda-based property catastrophe and specialty property reinsurance company,...
S&P Report Finds French Market is ‘Stable’
Jun 18 2003 // A report on the French insurance market released by Standard & Poor’s Ratings Services calls the outlook in both the life and P/C sectors “stable.” S&P had previously classed the P/C...
Insurers Ask NAIC to Nix Plans to Extend Pilot Project
Jun 17 2003 // The property/casualty industry voiced its “strongest objections” to any decision by the National Association of Insurance Commissioners (NAIC) to extend the annual statement data collection parameters of their...
Worst Ever Tornado Losses Won’t Affect Property Rates Yet
Jun 9 2003 // A series of severe thunderstorms and tornadoes that ravaged the country’s mid-section in early May is not likely to send property insurance rates soaring again, but the surprising weather pattern has caused insurers...
Emerging Exposures Lead To New Coverage Issues
Jun 9 2003 // Coverage for technology torts—”techno-torts” or “cybertorts”—is limited under the standard general liability policy. “Coverage A” of the standard CGL form requires bodily injury or...
CNA Takes $49 Million Charge On 1995 Property Loss
Jun 2 2003 // Chicago-based CNA Financial Corp. announced that its specialty lines segment expects to record an after-tax charge of approximately $49 million in the second quarter of 2003 in connection with a recent adverse arbitration...
Baldwinsville, N.Y. Man Arrested for Making Fraudulent Property Claims
Jun 2 2003 // It was a busy week for the New York Insurance Department’s Fraud Squad. In addition to arresting three men charged in a motorcycle scam ring in the Bronx (see previous article), Superintendent Gregory V. Serio also...
Best Upgrades Rating of Montpelier Re to ‘A’
May 29 2003 // A.M. Best Co. announced that it has upgraded the financial strength rating to A (Excellent) from A- (Excellent) of Bermuda-based Montpelier Reinsurance Ltd. with a stable outlook. White Mountains Insurance Group and...
AscendantOne Delivers ISO-Validated Rating for Four Major Commercial Lines of Business
May 23 2003 // Analytical pricing and underwriting information for four major commercial lines of insurance from ISO is now available through AscendantOne®, Inc.’s new policy-management and rating solution, according to company...
