Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
How Policy Silence on Pandemics May Bedevil Insurers on Coronavirus Claims
Mar 26 2020 // Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an insurtech that specializes in analyzing insurance policy language suggested recently, explaining that without specific...
Coronavirus and the CGL
Mar 25 2020 // Although the Virtual University has not received questions regarding how the commercial general liability (CGL) policy will respond to the coronavirus (COVID-19), the CGL’s response must still be understood. Various...
How East Insurance Regulators Are Responding to the Coronavirus Pandemic
Mar 25 2020 // As insurers continue to monitor the spread and impact of COVID-19, insurance regulators across the East region of the U.S. are issuing guidance on how the industry can respond. “There is almost no aspect of the...
Coronavirus (COVID-19): Does Business Income Respond?
Mar 24 2020 // Over the past two weeks, the VU has received countless questions concerning COVID-19 (the coronavirus) and the business income policy. As authorities require businesses to limit activities or shut down completely, the fear...
Commentary: Does Business Income Insurance Cover Coronavirus Shutdowns?
Mar 24 2020 // On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or...
Howard to Serve as President of Southeastern Carrier Lighthouse
Mar 23 2020 // Lighthouse Property Insurance Corp. has hired David Howard as president, pending regulatory approvals. Howard will serve as president for Lighthouse and Lighthouse Excalibur Insurance Co., a wholly owned subsidiary. The...
Manufacturers: Mostly On Their Own to Face Coronavirus Insurance
Mar 23 2020 // Remote Work Not Much Help for Assembly Lines Property/casualty insurance professionals are trying to provide advice and empathy to their manufacturing clients coping with the effects of the spread of the coronavirus. But...
FTP of California Continues Growth Trend with Expanded Limit Exclusive Property Program
Mar 20 2020 // San Diego, CA, March 19, 2020 – FTP of California, LLC, announced today a new property program with high limits and extreme flexibility in risk coverage. The exclusive program is backed by A.M. Best ‘A’ rated...
Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns
Mar 19 2020 // A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close...
Prepared Insurance of Florida to be Acquired by Lighthouse Property Insurance Corp.
Mar 16 2020 // Lighthouse Property Insurance Corp. plans to acquire its sister carrier, Prepared Insurance Company (Prepared), from Prepared Holdings Group. Lighthouse is a Louisiana-domiciled property and casualty insurance carrier...
London’s EC3 Brokers Starts U.S. Property Wholesale Unit; 3 Jeffery Brothers to Head
Mar 12 2020 // London-based EC3 Brokers has launched a U.S. property wholesale division based in London, with the appointments of Matthew Jeffery as managing director and David and Daniel Jeffery as divisional directors. The brothers,...
Ratings of Illinois’ Echelon Property & Casualty and Parent, Guardian, Downgraded
Mar 10 2020 // AM Best has downgraded the Financial Strength Rating (FSR) to B- (Fair) from B (Fair) and the Long-Term ICR to “bb-” from “bb” of Echelon Property & Casualty Insurance Co., based in Chicago. AM...
Homeowners’ Satisfaction
Mar 9 2020 // U.S. homeowner insurers are doing a better job than ever making their customers happy when responding to claims, according to J.D. Power. Results of the firm’s Property Claims Satisfaction Study show that overall...
Homeowners Fail to Protect Against Water Damage, Most Common Property Claim: Chubb
Mar 9 2020 // There continues to be a disconnect between homeowner beliefs and behaviors, especially when it comes to protecting against the most common source of property-related damage: water. That’s according to the annual...
Sompo GRS Launches Replacement Value Protection Coverage for Real Estate Firms
Mar 6 2020 // Sompo Global Risk Solutions (GRS), a subsidiary of Sompo International Holdings Ltd., has entered into a partnership with independent risk management and insurance consulting firm Fisher Harris Shapiro, Inc. (FHS) to offer...
Insured Property Losses for Australia’s January Hailstorms Hit A$670M: PERILS
Mar 4 2020 // The initial insured property losses for January’s hailstorms in Australia are estimated at A$670 million (US$746.7 million), according to PERILS, the independent Zurich-based organization that provides industry-wide...
California Bill Aimed at Property Insurance in Communities Investing in Wildfire Prevention
Feb 28 2020 // Assemblyman Marc Levine, D-Marin County, has introduced Assembly Bill 3258, which would require property insurance providers to take into consideration local government investments in wildfire prevention when determining...
Nationwide, Generali Form Joint Venture N2G to Sell Multinational Commercial Lines
Feb 27 2020 // Trieste, Italy meet Columbus, Ohio. Ciao! Hello! Two large insurers — Ohio’s Nationwide and Italy’s Generali — are teaming up to serve commercial insurance customers with global needs. The insurers...
Cannabis Power Brokers Tackle Five Pressing Insurance Questions
Feb 27 2020 // The cannabis business is a frontier industry that continues to offer no shortage of unique challenges to regulators, as well as boundless questions for industry watchers and ancillary businesses like insurance. Key...
Berkshire Hathaway P/C Insurance Profit Down in 2019
Feb 24 2020 // Full-year insurance results at Berkshire Hathaway disappointed in 2019, with after-tax earnings from underwriting falling to $325 million in 2019 compared to $1.6 billion in 2018. Earnings from primary insurance operations...
