Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida Approves Removal of Up to 280,857 Policies From Citizens
Aug 12 2015 // The Florida Office of Insurance Regulation announced today that it has approved the removal of up to 279,357 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance...
GUARD, Eyeing Expansion, Names Hitt as Executive VP for Property/Liability
Aug 12 2015 // Workers’ compensation insurer Berkshire Hathaway GUARD recently named Lyle Hitt as executive vice president of Property and Liability Insurance as the company plans to expand. In his new role, Hitt will oversee...
Coinsurance: The Property Insurance Version of a 4-Letter Word
Aug 11 2015 // Coinsurance provisions found in property policies exist primarily to assure that the insurance carrier receives adequate premium for the property insured. Without a coinsurance condition, and its applicable penalties,...
Berkshire Insurance Units Slump in Q2
Aug 10 2015 // Warren Buffett’s Berkshire Hathaway Inc. posted second-quarter profit that missed analysts’ estimates because of higher claims costs at insurance units including Geico. Net income dropped 37 percent to $4.01...
Attorney: Hail Claims ‘Cottage Industry’ Bad News for Texas
Aug 10 2015 // The rise of rampant claims litigation against property insurers following hailstorms in Texas has created a “cottage industry” that not only threatens the financial health of the state’s property...
R.I. Landlord Admits to Burning Down Rental Property for Insurance Money
Aug 6 2015 // Federal prosecutors say a Providence, Rhode Island, landlord admitted to setting fire to an occupied building he owned in a scheme to collect insurance payments. Rony Metellus pleaded guilty Monday to one count of...
10 Business Insurance Lessons and 1 Owner’s Advice from Katrina
Aug 5 2015 // Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses. Many of the lawsuits filed as a result of the fifth hurricane of...
Louisiana Citizens Insurance Rebate Being Lowered
Aug 4 2015 // Everyone in Louisiana who buys property insurance will lose 28 percent of a tax credit they can get for covering the debt of the state’s property insurer of last resort. In addition, the reduction is retroactive,...
AIG Insurance Results Down in Q2; CEO Sees Opportunity in ACE-Chubb
Aug 4 2015 // American International Group Inc. (AIG) today reported net income of $1.8 billion for the quarter ended June 30, 2015, compared to $3.1 billion, for the second quarter of 2014. Second quarter net income declined primarily...
Florida-Based Gulfstream P&C Names Block as CFO, Treasurer
Aug 4 2015 // David Block Gulfstream Property and Casualty Insurance Co., a regional property carrier providing homeowners, condominium, renters, dwelling fire and flood coverage with operations in five states, has announced the...
NFP Acquires BWD Group in New York
Aug 3 2015 // NFP, a New York City-based provider of employee benefits, property/casualty insurance, retirement and wealth management services, announced today its acquisition of BWD Group LLC in Plainview, New York. Terms of the...
10 Things to Know About Condominiums
Aug 3 2015 // The condominium association owns and insures the outside structure of the condominium building. The condominium master policy agreement (bylaws) stipulates what part of the structure is owned and insured by the association...
A.M. Best: Will 2015 Be the Year That Tests Florida Property Insurers?
Aug 3 2015 // The property insurance market in Florida has significantly shifted in market share as Citizens Property Insurance Corp. (Citizens)–the state-run property insurance company–continues to depopulate and move...
Intellectual Property: Conan O’Brien, Doobie Brothers, ‘Happy Birthday’, Michael Jordan
Jul 31 2015 // Conan O’Brien Sued Over Jokes Comedian Conan O’Brien was sued for copyright infringement for using several jokes on his late-night talk show that he’s accused of lifting from the Internet. In a complaint...
R.I. Consumer Alert Looks at Insurance Implications for Home-Sharing Rentals
Jul 29 2015 // Rhode Island’s Insurance Division is advising consumers to examine insurance implications when using home-sharing rental websites such as Airbnb. “Technology has changed the way people interact. There are now...
Universal Property & Casualty Approved as Licensed Insurance Entity in Va.
Jul 23 2015 // Universal Insurance Holdings Inc. in Fort Lauderdale, Florida, announced on July 21 that its wholly-owned subsidiary Universal Property & Casualty Insurance Company (UPCIC) received a certificate of authority from the...
A.M. Best Special Report: Florida Property Insurers Remain Untested
Jul 23 2015 // The property insurance market in Florida has significantly shifted in market share as Citizens Property Insurance Corp. (Citizens)—the state-run property insurance company—continues to depopulate and move policyholders...
Crawford Names Daniel VP of U.S. Property & Casualty Client Development
Jul 23 2015 // Dan Daniel Crawford & Company has named Dan Daniel as vice president, U.S. Property & Casualty client development. He formerly served as vice president of Catastrophe Services for U.S. Property & Casualty for...
How AIG Is Using Cyber Intelligence to Protect Property from Cyber Attacks
Jul 22 2015 // A three-hour shutdown of the New York Stock Exchange on the same day that a network failure halted all United Airlines flights in the U.S. had people across the country thinking one thing: cyber-attack. It wasn’t,...
N.J. Files Eminent Domain Actions Against Beachfront Property Owners
Jul 20 2015 // New Jersey Gov. Chris Christie’s administration has begun legal proceedings to obtain land from beachfront property owners so the state can build dunes to protect against storms. The New Jersey Department of...
