Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
ISO Estimates Insurers Will Pay $335M from Hurricane Lili’s Damage to Insured Property
Oct 17 2002 // Insurers are expected to pay $335 million to homeowners and businesses for insured-property losses from Hurricane Lili that struck Louisiana and Mississippi on Oct. 3, according to estimates by the Insurance Services...
Foremost Mobilehome Insurance Rates to Increase
Oct 10 2002 // Nevada Insurance Commissioner Alice A. Molasky-Arman has approved a mobile homeowners insurance rate change for the Foremost Insurance Company Grand Rapids, Michigan (“Foremost Insurance”), American Federation...
An Exact Science: Insuring Biotech Takes Know-How
Sep 30 2002 // As far as commercial property and casualty coverages are concerned, it goes without saying that individual companies require specific types of policies to most effectively address risks inherent to their industries. The...
Task Force Releases Scoring Report, Unveils Water Intrusion Prevention Pilot
Sep 27 2002 // The NeighborWorks® National Insurance Task Force (NITF) has announced several activities to support its efforts to make insurance more available and affordable in lower-income communities. The activities include a report...
Travelers Property Casualty Authorizes $500M Share Repurchase
Sep 26 2002 // Travelers Property Casualty Corp. announced that its Board of Directors authorized the company to spend up to $500 million for the repurchase of its Class A and Class B common stock. The repurchases may be made from time...
