Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Claims for Broker Negligence Assignable
Mar 21 2016 // A California intermediate appellate court has reaffirmed that a professional negligence claim against a client’s property/casualty insurance broker is freely assignable. It also held that the assigned rights are...
Universal Property & Casualty Licensed in New Jersey
Mar 17 2016 // Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) was issued a certificate of...
Ironshore Names Alexander Head of Global Property Programs, Based in London
Mar 14 2016 // Ironshore Inc. has announced that Melanie Alexander will serve as head of Global Property Programs, overseeing the London-based property facility business. She will report to Tony Mammolite, president of Global...
CoreLogic Expands National Parcel Boundary Database
Mar 11 2016 // CoreLogic, a global property information, analytics and data-enabled services provider, has expanded its proprietary property parcel database to cover more than 144 million parcel boundaries and parcel point locations....
Miller Hires Jones to Lead North American Wholesale & Facultative Property Book
Mar 10 2016 // Honor Jones has joined London-based Miller Insurance Services to drive the growth of its wholesale and facultative property book in North America. Jones has over 20 years’ experience of placing risks on behalf of...
Alesco Appoints Bragg to Lead Latin American Property Facultative Team
Mar 10 2016 // Alesco Risk Management Services*, the specialist insurance and risk management broker, announced Adam Bragg will be joining as head of the organisation’s Latin America Property Facultative team. His primary focus...
Auto Insurer 2015 Underwriting Performance Loses Traction
Mar 7 2016 // Private passenger automobile insurance remains one of the most competitive segments in the U.S. property/casualty industry, with a number of large, well capitalized organizations battling for market share and searching for...
Property Claim Satisfaction Slips
Mar 7 2016 // Customer satisfaction among homeowners filing a property claim has slipped for the first time in five years, largely driven by declines in satisfaction with the total settlement and service interactions, according to the...
Texas Adopts Rules for Residential Property Dec Pages, TWIA Premium Surcharge
Mar 7 2016 // The Texas Department of Insurance reported it has adopted rules pertaining to property insurance changes resulting from legislation passed in 2013 and 2015. Residential Property Declaration Page The new rules include...
Europe’s Insurers Turn to Risky Property Investments, in Hunt for Better Returns
Mar 3 2016 // Traditionally conservative European insurers and pension funds are turning increasingly to risky property bets on everything from new homes in provincial Britain to car parks at Brussels airport, as they feel the pinch...
The MOST Basic CGL Coverage Concept
Feb 29 2016 // Begin at the beginning – with the insuring agreement! Coverage can never be any broader. This is the most basic CGL coverage concept. Before applying the policy’s exclusions, exceptions or conditions to a loss,...
Hamilton Re Hires Davis to Lead Entry into Property Direct & Facultative
Feb 29 2016 // Hamilton Re, the reinsurance operations of Hamilton Insurance Group, announced that Gavin Davis has joined the Bermuda-based company as senior vice president, head of Property Insurance, Bermuda. Davis will be instrumental...
Texas Adopts Rules for Residential Property Dec Pages, TWIA Premium Surcharge
Feb 26 2016 // The Texas Department of Insurance reported it has adopted rules pertaining to property insurance changes resulting from legislation passed in 2013 and 2015. Residential Property Declarations Page The new rules include...
5 North Carolinian’s Accused of Staged Accident Ring
Feb 25 2016 // North Carolina Insurance Commissioner Wayne Goodwin announced the arrests of five Wilmington women in connection with an alleged staged auto accident ring. Investigators allege that over the course of three separate...
President of USAA Property and Casualty Insurance Group to Retire
Feb 25 2016 // Alan Krapf, president of San Antonio-based USAA Property and Casualty Insurance Group, has announced his intention to retire. USAA has begun the process of identifying internal and external candidates for the role. Once a...
Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P
Feb 22 2016 // Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services,...
Demotech Affirms Ratings of Midwest Public Entity Pools
Feb 17 2016 // Ohio-based Demotech Inc. recently affirmed the financial stability ratings (FSRs) assigned to six self-funded public entity pools in the Midwest. Demotech reviews and rates more than 415 insurers, writing every line of...
AIG Reports $1.8 Billion Q4 Net Loss on Weak Underwriting, Investments
Feb 12 2016 // American International Group Inc. reported an operating loss of $1.3 billion for the fourth quarter of 2015, compared to after-tax operating income of $1.4 billion in the prior-year quarter. Disappointing underwriting and...
Florida Fights Back Against Assignment of Benefits Abuse
Feb 8 2016 // Florida insurers, consumer and insurance advocates, as well as regulators, are hoping 2016 may finally be the year that legislators address the misuse of assignment of benefits (AOB) for water loss claims that they say has...
Texas Supreme Court: Loss-of-Use Damages Allowed in Total Loss Cases
Feb 8 2016 // Are loss-of-use damages, such as lost profits, allowed in Texas when an insured has recovered fair market value on a commercial vehicle that is deemed a total loss after an accident? The Texas Supreme Court thinks so,...
