Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
7 Reasons to NEVER Extend Business Auto Coverage to an Employee-Owned Auto
Jul 7 2015 // First, the Reasons to NEVER Extend BAC Protection to an Individually-Owned Auto The employee’s Personal Auto Policy (PAP) extends coverage for most business uses of a covered auto. Using a BAC rather than a PAP may...
Flooding Could Cost More Than Louisiana Property Owners Think
Jul 6 2015 // The flood plain manager for the Rapides Area Planning Commission in Louisiana said people whose homes flooded may find that repairs bring them under newer and stricter building standards. Melissa Becker told The Town Talk...
How Hurricane Katrina Changed Business Preparation Planning for Disasters
Jul 6 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...
Vermont Issues Bulletin on Price Optimization in Personal Lines Ratemaking
Jul 2 2015 // Vermont regulators issued a bulletin last week addressing the issue of “price optimization” in personal lines ratemaking. The Vermont Department of Financial Regulation (DFR) noted in the bulletin that some...
New Empire Group Expands Program for Property Managers
Jul 1 2015 // New Empire Group has expanded its property managers’ portfolio to include coverage for real estate agents & brokers, real estate consulting, construction management, asset management, property preservation,...
BOPs Are Like Hospital Gowns – They Don’t Cover You Fully
Jun 30 2015 // Businessowners Policies, traditionally referred to simply as “BOPs,” were introduced in 1976 and significantly revised in 1987. The BOP evolved gradually from the 1987 revisions to include risk classification...
Berkshire Hathaway Specialty Expands in Australia, New Zealand
Jun 30 2015 // Berkshire Hathaway Specialty Insurance Co. (BHSI) said it is entering the healthcare underwriting market in Australia, and has appointed Tony Bainbridge, previously with American International Group (AIG), to lead the...
NFP Property & Casualty Acquires Texas’ AutoGroup Services
Jun 25 2015 // Insurance broker and consultant, NFP, has acquired specialty agency AutoGroup Services (AGS), based in Fort Worth, Texas. Founded in 2000, AGS consults with auto dealerships to help maximize the profitability of their...
Mississippi Mayor Wants Residents to Clean Up Left Over Katrina Debris
Jun 25 2015 // Gulfport Mayor Billy Hewes wants slabs and pilings left behind when Hurricane Katrina tore the businesses and homes removed. Hewes said the debris is “unsightly” and a “blight.” The Sun Herald...
Feds Want Proceeds from Convicted North Dakota Farmers’ Property Sale
Jun 22 2015 // Prosecutors are asking a judge to allow the government to seize money from an auction sale by two North Dakota brothers who were ordered to pay back more than $900,000 for intentionally destroying potatoes to collect...
Wharton Study Finds Disaster Aid Displaces Property Insurance
Jun 22 2015 // Federal disaster aid granted to communities hit by natural catastrophes causes demand for property insurance to fall by six times as much, according to a new issue briefing from the University of Pennsylvania’s...
Ramsey Joins Catalytic, Builds Wind Underwriting Team, Capacity
Jun 15 2015 // Specialist property catastrophe underwriting manager, Catalytic Holdings has hired industry veteran Sam Ramsey to lead its newly-formed wind underwriting business. Ramsey joins Catalytic from All-Risks Ltd. where he headed...
UK’s Allianz Commercial Promotes Higham to Property Account Manager
Jun 15 2015 // Allianz Commercial has announced the promotion of Paul Higham to the position of property account manager. Higham’s appointment is the third appointment made in the newly aligned property and casualty team, said the...
Additional Insured Endorsements in Construction
Jun 15 2015 // To get on a job, contractors often have to show proof of insurance and name the individuals hiring them as additional insureds on the contractors’ commercial general liability (CGL) policies. By doing this, the...
Universal Property & Casualty Insurance OK’d to Write in Michigan
Jun 9 2015 // Florida-based Universal Insurance Holdings Inc. announced that the Michigan Department of Insurance issued a Certificate of Authority to Universal Property & Casualty Insurance Co. (UPCIC), establishing UPCIC as a...
Top 5 Issues in Often-Misunderstood Business Interruption Insurance
Jun 3 2015 // The high costs related to business interruption should provide an impetus for companies to prep for them in advance, according to industry experts. During a recent webinar hosted by global broker Marsh, insurance experts...
Universal Property & Casualty Writes 1st Homeowners Policy in Pennsylvania
Jun 3 2015 // Universal Insurance Holdings Inc. announced that the Pennsylvania Insurance Department has approved the homeowners insurance rates and forms of its wholly-owned subsidiary, Universal Property & Casualty Insurance...
Ironshore Names Owen as Senior Vice President of Global Property Energy
Jun 3 2015 // Bermuda-based Ironshore has named Daniel Owen as senior vice president of the Global Property Energy division, effective immediately. Owen, who joined Ironshore in 2011, is currently senior vice president of Global...
10 Things to Know About Financial Institutions
Jun 1 2015 // 1.Financial institutions are increasingly being scrutinized by regulators, both federal and state, about their safeguards to protect sensitive customer information. These regulatory inquiries are not only focused on the...
Louisiana Citizens Property Insurance Mulling Coastal Rate Hike
Jun 1 2015 // More than 65,000 homeowners in coastal parishes covered by the Louisiana’s property insurer of last resort could see their rates jump 10 percent in mid-August. Under state law, Louisiana Citizens Property Insurance...
