Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Wildfire in 2015: What to Expect?
Mar 21 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...
China’s Fosun and Ping An Insurance Vying to Buy $1.6 Billion Berlin Complex
Mar 19 2015 // Fosun International Ltd., backed by Chinese billionaire Guo Guangchang, is vying with Ping An Insurance (Group) Co. to acquire 18 buildings on Berlin’s Potsdamer Platz square, people with knowledge of the matter...
Bishop Joins Southwest Risk in Dallas as VP, Property Broker
Mar 19 2015 // Jim Bishop has joined Southwest Risk LP as a vice president and property broker. Bishop has more than 30 years of experience in the insurance industry with extensive knowledge of the marketplace in the central United...
CoreLogic Releases Property Risk Assessment Platform
Mar 18 2015 // CoreLogic, a global property information, analytics and data-enabled services provider, has released RCT Express 4.2, an expanded property risk assessment platform offering the insurance industry a fully-integrated and...
Boston Bombing Lesson: Risk Managers Urge Better ‘Terror Act’ Certification
Mar 18 2015 // Citing uncertainty following the Boston Marathon bombing almost two years ago, risk managers are urging the federal government to set a deadline for certifying if an event is an act of terrorism and also use...
ACE Promotes Sedov as Head of Property Risk Engineering for Eurasia & Africa
Mar 17 2015 // ACE has promoted Andrey Sedov to the newly created position of head of property risk engineering for Eurasia and Africa, as the company continues to build its risk management capability for clients across its newest...
Louisiana Citizens Property Insurance CEO Resigns Unexpectedly
Mar 16 2015 // The chief executive officer of state-backed Louisiana Citizens Property Insurance Corp. abruptly resigned following a closed session of the insurer’s board of directors to discuss personnel matters. The Advocate...
Sedgwick to Oversee Louisiana Property/Casualty Self-Insurance Program
Mar 16 2015 // A new private contractor is being hired to oversee claims processing and loss prevention services for Louisiana’s self-insurance program. The Office of Risk Management announced that Sedgwick Claims Management...
Florida Ends Citizens Assessment Two Years Ahead of Schedule
Mar 10 2015 // Florida’s insurance regulators are two years ahead of schedule in ending an assessment used to retire a bond issued by the state-backed property insurer Citizens following the eight-storm 2004-2005 hurricane...
Jury Verdict Favors Texas Insurer in Hidalgo County Hail Claim Case
Mar 9 2015 // A Texas-based insurance company has prevailed in the first lawsuit to go to trial over claims from two massive hailstorms in Hidalgo County, Texas, in 2012. The 12-member jury in Amaro v. National Lloyds found that...
Specialized Property Broker Tracy Anderson Joins Breckenridge Insurance Services
Mar 5 2015 // KENNESAW, GA, March 5, 2015 — Breckenridge Insurance Services, a leading specialty wholesale commercial brokerage firm, has hired Tracy Anderson as a property broker to its Atlanta-based team. Anderson brings nearly a...
Oklahoma Commissioner Warns Insurers on Denial of Earthquake Claims
Mar 4 2015 // With the dramatic increase in the number of earthquakes in Oklahoma — which some say are at least partly attributed to waste water injection wells related to the practice of hydraulic fracturing in oil and gas drilling...
MacNeill Group Selected to Grow Commercial Property and Casualty Business
Feb 27 2015 // Sunrise, FL, February 27, 2015 – MacNeill Group, a wholly-owned subsidiary of Team Focus Insurance Group (Team Focus), and a licensed managing general agent (MGA) specializing in commercial, personal, transportation and...
AIG Q4 Profit Drops on Debt Repayments, Reserve Charges
Feb 13 2015 // American International Group Inc., the largest commercial insurer in the U.S. and Canada, said profit declined 67 percent on costs to pay down debt and add to reserves. Net income fell to $655 million, or 46 cents a share...
Berkshire Hathaway Names Sorsak to Lead Canada Property, Energy Claims
Feb 12 2015 // Berkshire Hathaway Specialty Insurance (BHSI) announced that it has appointed Amanda Sorsak to lead its Property & Energy Claims operation in Canada. She was previously Executive General Adjuster at Allianz Global...
New York MTA’s Captive Insurer to Provide Coverage in Fatal Train-SUV Crash
Feb 11 2015 // New York Metropolitan Transportation Authority’s (MTA) captive insurer and wholly owned insurance subsidiary First Mutual Transportation Assurance Company (FMTAC) will lead coverage for liability for third party...
Bills Aimed at Property Claims Litigation Expected in Texas Legislative Session
Feb 11 2015 // Texas lawmakers are expected to file legislation this year aimed at stemming the tide of property claims litigation in the wake of catastrophic weather events, such as hailstorms. Proponents of such legislation would like...
Starwood Capital to Sell NYC’s Baccarat Hotel to Chinese Insurer for $230M
Feb 9 2015 // Barry Sternlicht’s Starwood Capital Group agreed to sell New York’s luxury Baccarat Hotel to an affiliate of China’s Sunshine Insurance Group. The 114-room property on Manhattan’s West 53rd Street...
Legislation Addressing Property Claims Litigation Likely to Crop Up in Texas
Feb 9 2015 // By the end of 2008, the Texas residual market for insuring seacoast properties for wind and hail figured it had enough resources available to pay claims for both Hurricane Ike and Hurricane Dolly that hit the Texas coast...
How Large Firm Risk Managers Rate Commercial Lines Carriers, Brokers
Feb 6 2015 // While commercial insurers have traditionally relied upon insurance brokers to manage customer relationships, large company risk managers are looking for both parties to work together to meet their needs, according to a new...
