Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Flooded U.K. Homeowners Face Declining Values: No Mortgages or Insurance
Feb 19 2014 // Homeowners in some of Britain’s wealthiest districts face a drop in property values and the prospect their homes may be uninsurable as record floods blight towns along the River Thames. About 5,800 homes have been...
AIG Cutting Jobs, Moving Others to Lower Cost Cities
Feb 14 2014 // American International Group Inc. Chief Executive Officer Robert Benmosche is increasing returns for shareholders as he targets job cuts to simplify the firm. AIG boosted its quarterly dividend by 25 percent to 12.5 cents...
Kemper Corp. Realigns P&C Group
Feb 12 2014 // Kemper Corp. is realigning its property & casualty business. This realignment will result in one property & casualty segment for financial reporting purposes, beginning with the first quarter 2014. The new Kemper...
Insured Property Losses for Central Texas Halloween Floods Top $30M
Feb 11 2014 // Final figures released by the Federal Emergency Management Agency (FEMA) show that insured losses to residential and commercial property from flood waters which swamped Central Texas on Halloween night 2013 totaled...
How to Encourage Private Sector Flood Insurance
Feb 10 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
South Carolina Livability Courts Settle Neighborhood Complaints
Feb 7 2014 // Sitting in Judge Alesia Rico Flores or Judge Michael Molony’s courtroom in Charleston or Judge Debra Jackson’s in Florence, defendants and onlookers realize that while these municipal courts uphold the rule of...
Cowles & Connell of N.J. Adds Dooskin as Property/Casualty Broker
Feb 6 2014 // Cowles & Connell of N.J. announced the addition of Darren Dooskin to the position of associate vice president and property/casualty broker. Dooskin will be responsible for the marketing and production of...
Mississippi Court Hears If Exxon Liable for Land Depreciation Caused By Alligators
Feb 6 2014 // The Mississippi Supreme Court is refereeing a dispute between a Wilkinson County couple and ExxonMobil Corp. over an alleged alligator infestation. Justices heard oral arguments Tuesday. The dispute involves more than 80...
In Florida, Neighbor’s Backyard Could Be a Shooting Range
Feb 4 2014 // Near the National Key Deer Refuge in Florida’s Lower Keys, on a sleepy street called Mango Lane, retired sheriff’s deputy Huey Gordon checked the waterway behind neighbor Doug Varrieur’s home for boat...
Commentary: Swatch Fire Losses and Contingent Business Interruption Coverage
Jan 31 2014 // An oft-overlooked insurance coverage found in many commercial property policies called “contingent business interruption” coverage may provide insurance proceeds to companies throughout the watch industry to...
N.J. Commissioner Offers Insurance Purchasing Tips for Small Businesses
Jan 30 2014 // Making the right insurance choices can have significant impact on the small business owner’s operation costs. With that in mind, New Jersey Department of Banking and Insurance Commissioner Ken Kobylowski offered some...
North Carolina Arrests 5 in Alleged Staged Accidents; 2 Suspects Sought
Jan 28 2014 // North Carolina Insurance Commissioner Wayne Goodwin this week announced the arrests of five people in an alleged insurance fraud scheme involving several staged auto accidents in Buncombe County. Department of Insurance...
Part II – Reinsurance: Emerging Markets and Risks – the Road Ahead
Jan 27 2014 // As detailed in Part I, the reinsurance industry faces the task of partially reinventing itself to expand in those sectors where it can achieve growth. Property catastrophe coverage isn’t off the table, but it’s...
Lines Sometimes Blurred in E&S Market, Experts Say
Jan 27 2014 // In the days of ole, insurance professionals knew at a glance the type of business that best fit into the excess and surplus lines market. Today, the definition of a traditional E&S account has become somewhat blurred,...
TWIA Panel Studying Methods to Assess Wind/Water Property Loss
Jan 27 2014 // A panel studying methods to assess property loss incurred as a result of wind versus water forces along the Texas coast expects to have the first of four study components ready for consideration in February. The mission of...
How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer
Jan 24 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
Reinsurance at Crossroads As New Factors Sweep Away Old Habits
Jan 23 2014 // Part I – The Market in the Developed Economies A significant number of reinsurance treaties were renewed this month, heavily concentrated in property catastrophe coverage. It’s become apparent, however, that this...
Berkshire Hathaway Specialty Expands into Builder’s Risk Segment
Jan 22 2014 // Berkshire Hathaway Specialty Insurance (BHSI) is expanding its property capabilities to include builder’s risk insurance. The company also named Robert Tricamo to head the new specialty property area as vice...
Everest Re’s Special Purpose Reinsurer Reaches $370 Million of Capacity
Jan 14 2014 // Everest Re Group, Ltd.’s special purpose reinsurer, Mt. Logan Re, Ltd., has secured additional funding, which brings current committed capacity to $370 million, above its initial target funding of $250 million. Mt....
Marsh Launches Habitational Real Estate Property Insurance Facility
Jan 14 2014 // In response to the increasingly constricted habitational insurance market, Marsh has created a new property insurance facility designed specifically for those who own or are investors in multifamily...
