Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Aspen Ceases Underwriting Property Insurance from Bermuda Platform
Feb 16 2018 // Aspen Insurance Holdings confirmed on Friday, Feb. 16 that it has ceased underwriting property insurance on its Bermuda platform, effective immediately, as a result of the company’s 2017 catastrophe losses. The move...
Zurich’s Safi Joins Everest Insurance in Chicago as VP in U.S. Property Unit
Feb 15 2018 // Everest Re Group Ltd. announced Shaun Safi has joined the Everest Insurance U.S. Property team as vice president based in Chicago. Safi will oversee the retail property portfolio in the central region as well as the...
AFL Insurance Brokers Taps JLT’s Rowland, Alston Gayler’s Cavani for Property Team
Feb 15 2018 // Independent Lloyd’s broker AFL Insurance Brokers Ltd. hired re/insurance professionals Barry Rowland and Chris Cavani to augment its wholesale property team. Formerly a facilities and binder partner at JLT Re,...
Widespread Market Firming Unlikely Even as Property Rates Rise: WTW
Feb 15 2018 // Commercial property insurers are seeking double-digit rate hikes on catastrophe-exposed insurance programs following 2017’s record catastrophes; however, abundant capacity in the form of traditional and alternative...
Property Manager in Iowa City Ordered to Pay $5.6M in Worker’s Death
Feb 14 2018 // A prominent Iowa City landlord was ordered to pay $5.6 million in damages after jurors held him responsible for the 2014 death of a maintenance worker. A jury ruled that Jeffrey Clark, manager of Apartments Downtown Inc.,...
Nearly 670K Property Insurance Claims in Texas from Hurricane Harvey: TDI
Feb 13 2018 // Hurricane Harvey resulted in nearly 670,000 in combined personal and commercial property insurance claims to private insurers, the Texas Windstorm Insurance Association (TWIA) and the Texas Fair Access to Insurance...
CNA Reports Solid Q4 and Year 2017 Despite Catastrophes
Feb 13 2018 // Insurer CNA saw its fourth quarter 2017 combined ratio improve and its quarterly net income dip only slightly despite catastrophe losses. For the full year 2017, it achieved net income of nearly $900 million, which was...
Why Tax Cuts May Curb Insurers’ Municipal Bonds Appetite
Feb 12 2018 // Put on the Taylor Swift and pull out the Ben & Jerry’s ice cream: The municipal-bond market’s long relationship with property and casualty insurance companies may be breaking up. That’s because last...
Maryland Property Insurer Left Client Data Temporarily Exposed Online
Feb 9 2018 // The Maryland Joint Insurance Association left data about some of its customers exposed online, but there’s no evidence it was accessed improperly. The Baltimore Sun reported Wednesday that a California-based...
A.M. Best Calculates P/C Insurers’ Underwriting Loss for 2017
Feb 7 2018 // Rating agency A.M. Best expects the U.S. property/casualty insurance industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. The expected net underwriting loss for 2017 of...
Jeff Davis, ICA, to Speak on Climate Change and Property Losses at Atlanta RIMS
Feb 7 2018 // Charlotte, NC, February 7, 2018 – Insurance Claims Adjusters, LP (ICA) is pleased to announce that Jeff Davis, vice president of claims and director of business development, will be a panelist at the 2018 Atlanta...
Worley Claims Services Acquires Audit Services Incorporated of Georgia
Feb 6 2018 // Worley Claims Services, LLC, a provider of claims services in North America, has acquired Audit Services Incorporated (ASI), a claim estimate writing and review supplier for the property and auto insurance markets based in...
Marsh & McLennan West Names New Principals in California and Alaska
Feb 5 2018 // Marsh & McLennan Insurance Agency has promoted eight executives to principals of the firm. In San Diego, the new Principals are Donna DeBolt, Wayne Pages, Greg Pendergast, Erin Quigley, Jeff Simpson, Ryan Stover, and...
People
Feb 5 2018 // Boca Raton, Fla.-based Universal Insurance Services, LLC, a subsidiary of Vanbridge, LLC, has added Jamie Lorentz to the firm as an analyst for Corporate and Institutional Insurance. Lorentz joins Universal from...
CoreLogic: Harvey an Exception to a Relatively ‘Normal’ Hazard Activity Year
Feb 5 2018 // While natural weather hazard activity could be largely categorized as “normal” last year, regional exceptions occurred, notably: wildfires in California and hurricane activity in Texas and the...
People
Feb 5 2018 // Texas Security General Insurance Agency LLC (TSGA) in San Antonio, Texas, added David A. Winkley as vice president of Commercial Lines. A former business owner, Winkley has industry experience in retail production,...
People
Feb 5 2018 // CAL Insurance & Associates Inc. has added Elian Boukhalil as an account manager. Boukhalil will work within CAL’s affluent families division. She was previously an intern with Publiscreen Online. Before that she...
Altman Advises Southwestern Pennsylvania Property Owners on Filing Flood Claims
Feb 5 2018 // Acting Pennsylvania Insurance Commissioner Jessica Altman has advised property owners in southwestern Pennsylvania experiencing flooding from heavy rains on important actions to take when preparing and filing flood...
Keeping Flood Insurance Above Water: Commentary
Jan 25 2018 // With the National Flood Insurance Program (NFIP) currently set to expire on February 8, and many communities still recovering from this summer’s hurricanes, it’s no surprise that the 21st Century Flood Reform...
Regions Insurance Taps Breedlove to Lead Property & Casualty Operations from Georgia
Jan 23 2018 // Regions Insurance, an affiliate of Regions Bank, has named Mike Breedlove executive vice president of Property & Casualty Operations. Breedlove will be responsible for leading the company’s property &...
