Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Fort Worth Bank Forms Agencies
Jan 24 2003 // Fort Worth, Texas-based Summit Bank formed two insurance agencies to provide property, casualty, life and employee benefits insurance services. According to the company, Summit Property & Casualty will operate in...
CIAB Market Survey Reports Premiums Still Gaining
Jan 23 2003 // According to a survey by The Council of Insurance Agents & Brokers (CIAB), more than two-thirds of the small and medium-sized commercial property/casualty accounts and 59 percent of the large accounts experienced...
$3 Million Frankel Property to be Auctioned Off
Jan 20 2003 // Martin Frankel, who’s currently awaiting sentencing on 24 charges of insurance fraud, stemming from his widespread scam that bilked companies in several states out of an estimated $200 million, will soon be losing...
Willis Re Makes Hirings in Chicago Office
Jan 17 2003 // Willis Re announced the recent hiring of facultative brokers in the Chicago office. Noreen Metcalfe has joined the office as vice president and property manager. She brings 17 years of property reinsurance underwriting...
A.M. Best Affirms FSR of Travelers
Jan 15 2003 // A.M. Best Co. has affirmed the financial strength rating of A++ (Superior) of Travelers Property Casualty Pool (Hartford, Conn.). The rating applies to the 20-member pool, led by Travelers Indemnity Company, and two...
Montemayor Sends Biennial Report, Recommendations to Lawmakers
Jan 13 2003 // Texas Insurance Commissioner Jose Montemayor recently submitted the Biennial Report, required under Section 32.022 of the Insurance Code, to Texas legislators suggesting needed changes in laws relating to insurance...
Weak Investment Results Throw Curve at P/C Insurers’ Recovery at Nine-Month Mark
Dec 18 2002 // Thanks to strong premium growth and lower catastrophe losses, the U.S. property/casualty industry earned $9.3 billion in net income after taxes through nine-months 2002, in sharp contrast to the $2.6 billion net loss...
8 is Enough – Programs That Caught Our Eye
Dec 16 2002 // For this end-of-the year edition of Insurance Journal, we looked at some unique or interesting programs and found eight that grabbed our attention. Obviously they do not represent a comprehensive list, which is admittedly...
8 is Enough – Programs That Caught Our Eye
Dec 16 2002 // For this end-of-the year edition of Insurance Journal, we looked at some unique or interesting programs and found eight that grabbed our attention. Obviously they do not represent a comprehensive list, which is admittedly...
A.M. Best Affirms Ratings of SAFECO Subsidiaries
Dec 5 2002 // A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of SAFECO Corporation’s (Seattle) property/casualty and life/health insurance subsidiaries. A.M. Best has also affirmed the...
ISO Says Insurers’ Losses from Seven-State Tornado Damage Stand at $460M
Dec 4 2002 // Insurers are expected to pay homeowners and businesses $460 million for insured-property losses from the rash of tornadoes, strong thunderstorm winds and hail that struck seven states on Nov. 9-10, according to preliminary...
ISO, ALR Announce New System to Report Theft of High-Value Stolen Property by Insurers
Nov 19 2002 // The Art Loss Register (ALR) and Insurance Services Office, Inc. (ISO) announced an enhanced property-loss reporting system that will increase the efficiency of reporting the theft of high-value stolen property by...
Aon Unveils Two New Workers Comp Models for Earthquakes and Terrorism + James Bond
Nov 18 2002 // Aon Corp.’s subsidiary, Aon Re Inc., has unveiled two timely new models for workers’ compensation catastrophes. One covers all significant U.S. earthquake regions, and the second analyzes terrorism exposures...
NYC Comptroller, AAI Square off over High Rates
Nov 15 2002 // New York City Comptroller William Thompson Jr. announced the release of a survey showing drastic increases in commercial insurance premiums since Sept. 11, 2001, “One Year Later: The Effects of 9/11 on Commercial...
MS/B and Alacrity Services LLC Form Alliance
Nov 14 2002 // Atlanta-based provider of structural loss estimates and direct repair programs for property insurers, Alacrity Services LLC—owner of ptc-NET(TM)—and Marshall & Swift / Boeckh (MS/B), a provider of building cost...
Ohio Insurance Department Provides Claim Tips for Storm Victims
Nov 13 2002 // Ohio Department of Insurance Director Lee Covington has issued a series of “tips” to help property owners filing claims resulting from the devastating tornadoes that struck the state over the...
Allmerica Downgraded
Nov 11 2002 // A.M. Best Co. downgraded Worcester, Mass.-based Allmerica Financial Corporation’s (AFC) property/casualty operations from “A-” to “B++.” The company’s life and annuity operations were...
NAII Opposes Water Damage Claim Restrictions in Texas
Oct 25 2002 // A representative from the National Association of Independent Insurers (NAII) spoke in opposition to proposed regulation prohibiting the use of prior water damage claims in the underwriting or rating of residential...
AAIS Files Updated COP Countrywide
Oct 22 2002 // The American Association of Insurance Services (AAIS) has filed a newly revised Commercial Output Program (COP, 3.0 version). First introduced by AAIS in 1993, the COP is a property program that provides broad coverage for...
Conference Focuses on Issues Facing Executives, Lawyers
Oct 21 2002 // The Property Insurance Section of The Federation of Defense & Corporate Counsel (FDCC) and the Property Loss Research Bureau (PLRB) will jointly sponsor a conference for senior insurance executives and lawyers on...
