Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
Insurance Programs of America Adds Lynn Vogel to Hotel Underwriting Division
Jan 14 2014 // Orlando, Fla. (Jan. 14, 2014) – Insurance Programs of America, a nationwide MGA and wholesale brokerage firm, announced a new addition to their hotel underwriting division. Lynn Vogel will be joining IPOA as an...
TWIA Expert Panel Working on Methods to Assess Wind/Water Property Loss
Jan 10 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 next month. The mission of...
Align Financial Forms Catalytic, Acquires Western RE Stock
Jan 9 2014 // San Diego, Calif.-based Align Financial Group LLC. has formed Catalytic Holdings LLC, a specialist property catastrophe underwriting manager, and Catalytic has acquired the property catastrophe business of Align General...
With Snow Comes Snowplow Damage, Some in Pennsylvania Find
Jan 3 2014 // Winter can be tough, especially on private property, and no one knows that better than Stroud Township, Pennsylvania, resident Pamela Wnuk. She says her property sustained damage after a municipal snowplow driver tore...
In Shickshinny, Penn., Flood-Buyout Program to Continue Through 2014
Jan 2 2014 // Donald Hargraves is flooded with nostalgia when he drives past the Shickshinny, Penn., home he owned for more than five decades but doesn’t regret recently selling the property in a flood-buyout program. “I...
Reinsurance Rates Down by 11% for January Renewals: Guy Carpenter Survey
Dec 30 2013 // Guy Carpenter & Co. has reported that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. The reinsurance broker’s global renewal report pointed to “strong...
P/C Insurers Boost Bottom Line on Big Gain in Underwriting Through 9 Months
Dec 23 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their...
