Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Willis Launches UK’s 1st Shariah Compliant Commercial Property Insurance
Jun 10 2014 // Willis Group Holdings announced that in “response to growing demand from property investors for insurance cover that is compliant with Islamic law it has launched the UK’s first Shariah compliant commercial...
Supreme Court Won’t Hear Mississippi Fire Services Fee Appeal
Jun 3 2014 // The U.S. Supreme Court will not hear an appeal over whether a Mississippi fire protection district can charge a fee for its services to local property owners. The Supreme Court made no comment in denying the petition May...
Swett & Crawford Adds Broker to Property Practice Group in New Jersey
Jun 2 2014 // Swett & Crawford, part of Cooper Gay Swett & Crawford (CGSC), a global wholesale and reinsurance broking group, appointed Todd Morin as vice president and broker for the property practice group. He is based in...
The Importance of Having an Integrated Services Solution
Jun 2 2014 // U.S. multinational businesses are increasingly seeking opportunities in new regions of the world, expanding outside of the United States and continental Europe into sub-Saharan Africa, Asia and Latin America. As their...
Florida Benefits As Yield-Thirsty Investors Line Up for Hurricane Bonds
May 30 2014 // In 2008, Florida’s government-run property insurer paid Warren Buffett $224 million to agree to buy its debt if a major storm struck. Six hurricane-free years later, the state is turning investors away. With...
Various Factors Contributing to Stability in Property/Casualty Insurance Market
May 29 2014 // The federal terrorism risk insurance backstop, in place in one form or another since 2002, will likely be reauthorized by Congress, and in the absence of a major catastrophe — man-made or otherwise — the current...
Penn. Insurance Department Taking Steps to Assist Consumers After Hail Storm
May 27 2014 // Pennsylvania’s insurance department said last Friday it has taken steps to help consumers after a hail storm caused widespread damage in communities in eastern Pennsylvania. The department said it will allow...
Best Upgrades Travelers and Most Subs Ratings; Outlooks Stable
May 27 2014 // A.M. Best has upgraded the financial strength rating (FSR) to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “aa+” from “aa” of the...
Sansone Named President of XL Group’s North America Property Business
May 15 2014 // XL Group has named Michele Sansone as president of its North America property insurance business and head of its global risk engineering division, XL GAPS. Reporting to Joseph Tocco, chief executive of XL Insurance’s...
China Insurance Regulator Warns Insurers on Investments in Debt
May 14 2014 // Chinese insurers face increasing risks from their investments in property and local government debt as the nation’s economic growth slows, according to a senior regulatory official. The China Insurance Regulatory...
There’s Devils in Big Data, but Help is Available from Inhance
May 12 2014 // Computer technology has revolutionized the collection and use of massive amounts of data, and yet, somewhat ironically, it’s frequently harder to find what one actually needs. Aphorisms abound – “big...
Florida Court: ‘Exploding Corpse’ Not Covered Under Property Policy
May 8 2014 // A Florida circuit court has found that a condominium owner’s property policy did not include coverage for the “explosion” of an advanced decompose body since it did not fall under a name peril listed in...
Louisiana Citizens Insurance Initiates Home Depot Claims Program
May 7 2014 // Louisiana Citizens Property Insurance Corp. will connect its policyholders with experienced, licensed and insured local contractors in a program with Home Depot. The state’s property insurer of last resort says the...
‘Inhance’ Launched to Plug Re/Insurers’ Cat Loss Information Gaps
May 7 2014 // Lloyd’s Old Library was the setting yesterday for the launch of inhance, a new product designed to close gaps in existing models that continue to expose re/insurers – and companies – to unexpected catastrophe...
Missouri Law Bars Contractors from Paying Deductibles on Commercial Property
May 2 2014 // Missouri lawmakers have given final approval to legislation that supporters say is aimed at protecting commercial property. A 2011 Missouri law bars residential contractors who fix roofs or complete other exterior repairs...
Best Affirms State Automobile Mutual and Operating Subs Ratings
May 1 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of State Automobile Mutual Insurance Company and its operating...
U.S. Supreme Court to Decide Fate of Mississippi Fire Protection Fee
Apr 25 2014 // The U.S. Supreme Court will consider May 15 whether to hear an appeal over whether a Mississippi fire protection district can charge a fee for its services to local property owners. Court officials say a decision could be...
XL Group Opens Reinsurance Operations in Middle East; Adds Staff
Apr 25 2014 // XL Group’s reinsurance segment announced the establishment of new operations in Dubai, UAE, to serve the MENA market and act as a regional hub for the business. XL named Mohamad Alali as Senior Executive Officer and...
AIG Expands Cyber Coverage to Include Physical Risks from Cyber Events
Apr 23 2014 // AIG has expanded its cyber insurance offering to include property damage and bodily injury exposures. This new cyber offering provides commercial customers a way to manage physical risks to their operations from cyber...
Mass. Regulator on Boston Bombing Claims, TRIA Reauthorization Effort
Apr 23 2014 // Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved. The data also revealed that among the 160...
