Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
AUTO INSURANCE, WORKERS’ COMP EMERGE
Mar 24 2003 // New state laws concerning workers’ compensation and automobile insurance make up the majority of the property/casualty-related insurance laws enacted by state legislatures last year, according to an analysis of...
CaliforniaSelect Releases Homeowners Program to Ind. Agents
Mar 18 2003 // CaliforniaSelect Insurance Agency, Inc., an affiliate of the Vesta Insurance Group (NYSE: VTA) announced the launch of a residential property program in California. CaliforniaSelect, part of Vesta’s Select Group of...
NAII Notes Positive Modifications in VA 2003 Insurance Legislation
Mar 17 2003 // “Virginia’s 2003 legislative session ended with the softening of many bills that could have made it much more difficult for insurance companies to conduct business in the state,” said an announcement from...
P/C INSURERS EXPECTED TO PAY $5.8B FOR INSURED PROPERTY-LOSS CATASTROPHE LOSSES
Mar 10 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
Vesta Reports Gains in 4th Qtr. 2002
Mar 3 2003 // Vesta Insurance Group Inc. of Birmingham, Ala., reported net operating earnings of $4.5 million, or $0.13 per share in the fourth quarter 2002 compared to a loss of $2.3 million, or $(0.07) per share for the corresponding...
Montemayor Issues Order on Filing of Residential Rates
Feb 28 2003 // Texas Insurance Commissioner Jose Montemayor issued an order on Feb. 26, 2003 requiring residential property insurers to file with the Texas Department of Insurance rates and supporting information as required in Senate...
Intellectual Property for Manufacturers
Feb 25 2003 // Nuts & Bolts: Venture Programs Inc. introduced VIP Defender, designed to protect product manufacturers from claims brought against them for alleged infringement upon third-party patents, trademarks, copyrights and...
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
Time to Jump on the Employee Benefits Bandwagon’
Feb 24 2003 // In some respects, the world of employee benefits seems to be on a roll. The Indepen-dent Insurance Agents & Brokers Association (IIABA) reports that about 26 percent of the U.S. agencies examined in its “2002...
A.M. Best Affirms Rating for Sun Hung Kai Properties Ltd.
Feb 21 2003 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Sun Hung Kai Properties Insurance Limited (SHKPI), Hong Kong. The outlook is stable. The rating reflects SHKPI’s prudent capitalization,...
P/C Insurers Expected to Pay $5.8B for Insured Property-Loss Catastrophe Losses
Feb 14 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
Horace Mann Improves, But Ends Down for the Year
Feb 10 2003 // Horace Mann Educators Corp., based in Springfield, Ill., today reported net income of $13.5 million, or 33 cents per share, for the fourth quarter, up from $4.8 million, or 12 cents per share, for the year-earlier quarter....
P/C Pricing Growth Fastest Since 1986, New York Analysts Told
Feb 10 2003 // The property and casualty industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, a trend that will certainly continue throughout 2003 and...
Fla. Sen. Bill Nelson Named Porker of the Month
Feb 7 2003 // Citizens Against Government Waste announced it named Sen. Bill Nelson (D-Fla.) its February 2003 Porker of the Month for putting taxpayers on the hook for millions of dollars in potential liability cost in Florida. A...
FM Global Unveils 2003 Property Loss Prevention Resource Catalog
Jan 29 2003 // Commercial and industrial property insurer FM Global recently released its free 2003 Property Loss Prevention Resource Catalog that contains a number of loss prevention products to aid risk managers, facility and plant...
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...
