Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Validus Reports $173.4M Q1 Net Income, Up From $162.4M in Q1 2014
May 1 2015 // Bermuda-based Validus Holdings Ltd. reported net income available to Validus of $173.4 million, or $1.98 per diluted common share, for the three months ended March 31, 2015, compared to $162.4 million, or $1.66 per diluted...
Flood, Flood, or Flood: What is Really Meant When a ‘Flood’ Loss is Reported? – Part I
Apr 29 2015 // Part I “We’ve had a flood,” says the commercial insured. “Oh, no!” the agent says as he quickly reviews the file documentation to confirm whether flood coverage was even offered. Then the key...
‘Hungry’ Insurers Continued to Cut Commercial Prices in Q1: CIAB
Apr 23 2015 // Insurance brokers report that the commercial property/casualty market continued to soften in the first quarter of 2015, with large accounts seeing the biggest price declines. On average, small, medium and large accounts...
How to Manage Risk of Valuable Properties Concentrated in Coastal Areas
Apr 21 2015 // U.S insured property values as of 2014 exceed $90 trillion, but the bulk of that is increasingly concentrated in vulnerable coastal areas. With that in mind, new risk metrics could better help monitor exposures, Karen...
ACE Expands Liability Coverage for Assisted Living, Long Term Care Facilities
Apr 21 2015 // ACE Group has introduced four new medical liability coverage endorsements, designed to provide more comprehensive protection to the expanding long term care healthcare sector. The new endorsements include: media event...
Texas’ Residual Property Insurance Markets Hit with Severe Weather Claims
Apr 20 2015 // The Texas Windstorm Insurance Association (TWIA) and Texas FAIR Plan Association (TFPA) began responding to policyholders impacted by the severe weather that affected a number of Texas communities last week and over the...
TWIA to Begin Agency Documentation Verification Survey on May 1
Apr 20 2015 // The Texas Windstorm Insurance Association alerted agents that as of May 1, 2015, TWIA would begin implementing an agency compliance program in order to verify agent documentation of private insurer coverage declinations...
Aspen Insurance, Starr Companies to Form Joint Europe Property Venture
Apr 17 2015 // Bermuda-based Aspen Insurance, the insurance segment of Aspen Insurance Holdings Limited, and Starr Companies announced that they have “signed a memorandum of understanding under which both parties will enter into a...
Validus Holdings Promotes 3 Underwriting Execs in Bermuda
Apr 15 2015 // Validus Reinsurance, Ltd., a wholly owned subsidiary of Validus Holdings, Ltd. has announced a number of underwriting promotions in its Bermuda office, “strengthening the capabilities and breadth of its global...
Trunk Joins Lighthouse Property Insurance in the Carolinas
Apr 15 2015 // Lighthouse Property Insurance Corp. has hired George Trunk as senior marketing representative of both North and South Carolina. George Trunk Trunk comes to Lighthouse with more than 28 years of experience in the insurance...
Ironshore Global Property Raises Energy Sector Capacity Limits to $35 Million
Apr 14 2015 // Bermuda-based Ironshore Inc. announced that its Global Property Energy division will increase its capacity limits from $25 million to up to $35 million, effective April 2015. Ironshore said the increase would “be...
Pipeline Developer Sues More Than 100 West Virginia Property Owners
Apr 6 2015 // More than 100 property owners in West Virginia are being sued by the developer of a proposed natural gas pipeline. Mountain Valley Pipeline LLC’s lawsuit seeks access to the properties to conduct a survey for a...
Louisiana’s Eagan Insurance: Carrying on a Family Tradition
Apr 6 2015 // Marc Eagan says he’s fortunate that his four children grew up in and around the insurance business. For Eagan, president of Eagan Insurance Agency located in the New Orleans-area, it means his firm is well-situated...
Freedom Specialty, IPISC to Offer Intellectual Property Insurance Products
Apr 2 2015 // Freedom Specialty’s Programs underwriting has partnered with Intellectual Property Insurance Services Corp. (IPISC) to offer intellectual property insurance products. The policy offers broad coverage provisions for...
Nonemployee ‘Employees:’ The Borrowed Servant Doctrine – Part II
Apr 1 2015 // Part I of this “nonemployee, employee” mini-series introduced the three types of “employers” and began the discussion regarding what constitutes or creates control. Part II completes the...
PERILS Updates Insurance Industry Exposure Database & Adds Austria
Apr 1 2015 // Catastrophe insurance data provider PERILS AG announced the release of the 2015 update for its Industry Exposure Database (IED), “contains updated market-wide property sums insured for European windstorm for the...
ACE Creates International Excess Unit in Asia Pacific; Appoints Sexton
Mar 31 2015 // ACE Group has created a new business unit – ACE International Excess (AIE)– to provide commercial property insurance on an excess basis for large companies in the Asia Pacific region. The new business unit will be...
ACE Promotes Gandon, Etherington in Global Accounts for UK & Ireland
Mar 25 2015 // ACE Group has made two appointments within its Global Accounts segment: Ed Gandon, casualty manager, UK & Ireland, and Gary Etherington, property manager, UK & Ireland, as it continues to invest in servicing larger...
Crack on Texas Cliff Where House Fell Puts Homes, Boaters at Risk
Mar 23 2015 // Steve Mellgren’s worries began when a chunk of land near his house crumbled down a cliff, leaving his neighbor’s palatial home dangling above a lake before a demolition crew sent it tumbling into the water. One...
Wildfire in 2015: What to Expect?
Mar 23 2015 // The past two years did not result in the amount of wildfire activity that many wildfire scientists, foresters and fire responders had expected. Looking back, the 2013 season had the earmarks of a bad year, with the...
