Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Why the Differences Make a Difference in Coverage
Oct 21 2019 // We recently received a question from a reader who had a customer with several single-family dwellings as rentals, all written on carrier-specific DP 00 03 (DP-3) policies. The question: “What are the pros and cons...
How Risk Management is Transforming Risk in Commercial Property
Oct 21 2019 // Commercial property underwriters are adjusting to a market defined by rising catastrophe losses and dwindling profits. From increasing rates and higher deductibles to fewer classes of business and stricter underwriting,...
Rivard Appointed Chair of Board of Governors for Florida’s Citizens Property Insurance
Oct 11 2019 // Florida Chief Financial Officer (CFO) Jimmy Patronis has appointed Bo Rivard as the chair of the Citizens Board of Governors, effective immediately. Rivard has served on the Citizens Property Insurance Corporation Board of...
Tate Joins EPIC’s Property/Casualty Unit in Dallas
Oct 9 2019 // EPIC Insurance Brokers and Consultants has added Dave Tate to its property/casualty operations in Dallas, as a principal, reporting to EPIC Managing Principal and Director of the Southwest Region KJ Wagner. Tate will be...
Verisk to Acquire Property Data Provider, BuildFax, in Austin
Oct 3 2019 // Verisk, which provides data analytics services to the insurance, energy and specialized markets, and financial services industries, has signed a definitive agreement to acquire BuildFax, an Austin, Texas-based provider of...
Canada Insurer Intact Financial Corp. Completes Acquisition of On Side Restoration
Oct 2 2019 // Intact Financial Corp., the Toronto-based property and casualty insurer, announced it has completed the acquisition of On Side Developments Ltd., the parent company of On Side Restoration. With more than 1,200 employees...
Strong E&S Premium Growth in Response to Weak Results; Top 15 E&S Writers: Fitch
Sep 30 2019 // Direct written premiums in the U.S. excess and surplus (E&S) lines market during 2018 grew at its greatest rate since 2012, increasing 11% and representing the eighth consecutive year of premium growth, according to...
U.S. Private Flood Insurance: The Journey to Build a New Market
Sep 27 2019 // Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood...
Insurers Continue to Cover Beach Resorts Despite Spate of Caribbean Hurricanes
Sep 25 2019 // Frenchman’s Reef, the largest resort on St. Thomas, was smashed by Hurricane Irma, which breached roofs, caved in walls and felled trees across the oceanfront property. Two years later, the hotel remains closed as...
Rent Default Coverage Available to Real Estate Investors, Property Managers
Sep 25 2019 // Insurance broker Next Wave Insurance Services and industry veteran Aaron DiCaprio have collaborated to launch Rent Rescue, a rent default insurance product for real estate investors and property managers. Rent default...
Minneapolis Federal Reserve: With Flooding Comes a Torrent of Data
Sep 24 2019 // One of the biggest problems with the Federal Emergency Management Agency’s flood insurance program is that, nationwide, few property owners actually choose to buy into it. But that’s not the case in many...
Travelers Gives Agents Aerial Property Damage Viewer to Expedite Disaster Claims
Sep 24 2019 // Property/casualty insurer Travelers is now providing its insurance agents and brokers with before-and-after photos of areas affected by disasters. The Travelers Catastrophe Map Viewer provides access to searchable,...
Louisiana Commissioner Donelon: Tort Reform Needed to Fix Auto Insurance Crisis
Sep 20 2019 // When Louisiana voters go to the polls on Oct. 12, they will have a choice between two Republican opponents in the race for insurance commissioner: current commissioner, Jim Donelon, a former state legislator who has held...
VIBE Syndicate Mgmt Closes Accident & Health, Property Direct & Facultative Units
Sep 16 2019 // VIBE Syndicate Management (VIBE), announced the closure of its Accident & Health and Property Direct & Facultative (D&F) business units with immediate effect. “As we continue our strategic review of the...
Resolving Claim Disputes: Step 3 Research and Document the Interpretation – Part 1 of 3
Sep 16 2019 // This article introduces a three-part series covering over a dozen largely legal and contractual principles, many of which are used by attorneys to resolve contract disputes. Most of them can also be used by agents and...
Hardening Markets, Social Inflation, E&S Business: Berkley, AIG Execs Face Analysts
Sep 13 2019 // The commercial general liability line will be the next property/casualty line to harden, the chief executive of W.R. Berkley Corp. predicted at an industry conference. Speaking at the Keefe, Bruyette & Woods Insurance...
Loss Creep Spells End to Soft Reinsurance Market: Guy Carpenter
Sep 10 2019 // Extended development from North American hurricane losses and losses from non-peak perils like California wildfires have finally jolted reinsurers out of a soft reinsurance market, according to a report from reinsurance...
Oregon Pot Racketeering Lawsuit Allowed to Proceed
Sep 10 2019 // A judge has ruled that a racketeering lawsuit brought by a vineyard against a neighboring marijuana operation can go forward despite attempts to have it dismissed – a ruling that could increase the odds for vineyards and...
North Carolina Sets Up Online Forum to Report Storm Damage to Historic Property
Sep 9 2019 // North Carolina’s Historic Preservation Office has set up an online forum so local governments and residents can report damage to historic properties caused by Hurricane Dorian. The office wants information about wind...
Arthur J. Gallagher Acquires UK Property-Owner Insurance Broker, RGA Group
Sep 6 2019 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-headquartered broker, announced the acquisition of three UK insurance intermediaries – Rentguard Ltd., Home & Travel Ltd. and RGA Underwriting Ltd. –...
