Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida Senate Democrats to Oppose Property Insurance Rate Hikes
Jan 31 2013 // With Florida lawmakers expected to consider formal changes to the state’s property insurance market next week, state Democrats are signaling that they will likely oppose any measure that results in higher...
Florida Senate to Unveil Property Insurance Reforms
Jan 31 2013 // Florida lawmakers are planning next week to release a draft version of a property insurance reform bill. The Senate Banking and Insurance Committee has taken the lead on property insurance reform this year and so far has...
U.S. Commercial Insurance Prices to Firm in 2013: Marsh
Jan 30 2013 // Rates for commercial lines insurance will continue to rise in 2013 thanks to above average losses, low investment returns and receding reserve releases. However, according to a new report published by Marsh, traditional...
Burand’s Agency E&O Blog: Tip #21
Jan 30 2013 // Do you always verify exposure changes at renewal? The genesis of a common E&O claim is when a commercial client changes their operations and the agency does not catch this at renewal. These claims can be property or...
Demand Surge Not An Issue For Sandy; Property Losses Near $19B
Jan 28 2013 // Although demand surge was an issue for the property/casualty industry following a trio of hurricanes in 2005, for Superstorm Sandy the demand-surge impact is minimal so far, an expert said recently. There has only been a...
Best Affirms AIG, U.S. Property/Casualty Subs Ratings; Outlook Stable
Jan 28 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of New York-based American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and...
After the Storm: Agents’ E&O Lessons Learned
Jan 28 2013 // More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. For the most part, the types of allegations and claims that surface after a catastrophe are the same as...
Business Moves – Midwest
Jan 28 2013 // Willis North America Willis North America, a unit of global insurance broker Willis Group Holdings, has relocated its Cleveland, Ohio office to 1001 Lakeside Ave., Suite 1600. Willis established a presence in Ohio more...
Florida Regulator McCarty Offers Reform Map to Smaller Citizens Property Insurance
Jan 25 2013 // Florida’s insurance commissioner has proposed a set of reforms designed to return the state-back property insurer to being a residual market, while at the same time offering the private insurance market incentives to...
ACE USA Expands Coverage for Hospitals, Miscellaneous Healthcare Facilities
Jan 24 2013 // ACE USA’s Medical Risk & Life Sciences Division has introduced four new coverage endorsements: media event expense, disciplinary proceeding defense, emergency evacuation expense, and patient property damage. The...
Florida Looks to Restructure Its Hurricane Fund; Federal Option Proposed
Jan 18 2013 // Florida lawmakers are poised to consider restructuring the state-run property reinsurance facility by possibly lowering its mandatory annual capacity by billions due to concerns that one major storm could exhaust its...
Insurance Executives Say Ongoing Budget Battles Will Harm U.S. Economy
Jan 17 2013 // Leaders of the property/casualty insurance industry believe Washington’s ongoing budget fracas will have a negative impact on the U.S. economy, according to a survey conducted by the Insurance Information Institute...
N.J. Gov. Criticizes Some Oceanfront Property Owners Who Reject Sand Dunes
Jan 16 2013 // The New Jersey shore town of Bradley Beach came through Superstorm Sandy in better shape than many of its neighbors that sustained serious to catastrophic damage from the waves and storm surge.N.J. Gov. Chris Christie...
Latest Sandy Loss Estimates Reported by Companies
Jan 14 2013 // Since Superstorm Sandy slammed into the U.S. East Coast two and a half months ago, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are the latest...
List of Company-Specific Sandy-Related Loss Estimates
Jan 10 2013 // Since Superstorm Sandy slammed into the New Jersey coastline on Oct. 29, 2012, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are the latest...
After the Storm: Insurance Agents E&O Lessons Learned
Jan 8 2013 // More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. As parties find themselves without the coverage they expected after a catastrophe, it appears to be a...
XL Group Appoints Northeast Manager for North America Property Team
Jan 3 2013 // XL Group plc’s North America property business appointed Joseph Moylan as its Northeast regional manager. Based in New York, Moylan will serve property insurance clients throughout the Northeast. He reports to...
Even Without Big Storms, Florida Property Insurance Costs Rise
Jan 3 2013 // Marco Tarafa was stunned to find that his homeowners’ policy is increasing by nearly $1,000 a year —all because inspectors couldn’t get into his attic, where there was no crawl space and about 24 inches of...
10 Insurance Ins and Outs, Ups and Downs of Year of Dragon 2012
Jan 2 2013 // In Chinese astrology, the year 2012 was the Year of the Dragon, a symbol of unpredictability and uncertainty. The dragon represents mystery because its head and tail cannot be seen at the same time, according to Chinese...
Looking Back at Insurance News of 2012: The Year’s Biggest Stories
Dec 31 2012 // With less than a day left until the end of the year, here’s a look back at some of the biggest property/casualty insurance news stories in 2012 that impacted the Northeast region, in chronological order: Top Investor...
