Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as...
Attorneys Discuss Liability Insurance Coverage for Sandy Litigation
Dec 21 2012 // Homeowners, businesses, and municipalities in the tri-state area continue to rebuild and rebound from Superstorm Sandy. Often, large-scale devastation and destruction are followed by lawsuits against individuals and...
Issuer Credit Ratings of Grinnell Mutual Reinsurance Co. Downgraded
Dec 20 2012 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of A (Excellent) of Grinnell Mutual Reinsurance Co. (Grinnell) and its...
People
Dec 17 2012 // Associated Agencies Inc., based in Rolling Meadows, Ill., has promoted Joshua Herz to president, making him the fourth person in the same family to hold the position. Herz succeeds his cousin, Max (Skip) R. Schrayer, who...
Best Affirms Russian Re’s ‘B+’ Ratings; Outlook Stable
Dec 14 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Russian Reinsurance Company JSC (Russian Re), both with...
Report Shows Increasing Concentrations of Insured Property Values in U.S.
Dec 13 2012 // Insured building values in the U.S. now exceed $40 trillion — including residential, commercial and industrial structures, according to a new report from catastrophe modeling firm Karen Clark & Co. When contents...
Deadline Nears to Claim 2008 Louisiana Citizens Assessment Rebate
Dec 10 2012 // Louisiana Insurance Commissioner Jim Donelon and Department of Revenue (LDR) Director of Customer Service Kent LaPlace are reminding property insurance policyholders that time is running out to claim a rebate for the...
$100K Deal Reached in Montana Over Lead-Contaminated Waste
Dec 10 2012 // The owner of a central Montana landfill has agreed to pay the U.S. government $100,000 to settle a civil action over 1,600 tons of earth containing unsafe levels of lead that sat untreated and unprotected for about four...
Aon Risk Solutions Hires 2 Execs for New England Property Practice
Dec 9 2012 // Aon Risk Solutions, the global risk management business of Aon plc, recently announced the additions of Christian Wise as senior vice president and Karen Cangemi as vice president of the company’s New England...
ACE USA Restructures Global Property Division
Dec 6 2012 // ACE USA, the U.S.-based retail operating division of The ACE Group, has reorganized its Global Property division to now include three property insurance units designed to serve the needs of domestic and multinational...
Florida Lawmakers Ponder More Pricing Freedom for Property Insurer Citizens
Dec 6 2012 // Some Florida legislators said this week they would consider giving the state’s largest property insurer more control over its rates, including allowing the company to raise rates to bolster its ability to pay...
Golden Bear Names Brown Property Manager, Takamoto Chief Risk Officer in California
Dec 4 2012 // Stockton, Calif.-based Golden Bear Insurance Co. has promoted Michael Brown to the position of property manager. Brown has been with Golden Bear since 2002 as an executive underwriter. Brown’s promotion follows the...
W.R. Berkley Names President of FinSecure Unit in Baltimore
Dec 4 2012 // Greenwich, Conn.-headquartered W.R. Berkley Corp. announced Michael P. Dandini has been named president of the company’s FinSecure LLC unit. Dandini has nearly 20 years of experience in the property/casualty...
Theft and Vandalism Claims Have Carriers on Edge in Vacant Property Segment
Dec 3 2012 // Insurers are restricting the availability of theft and vandalism coverage in the vacant property insurance market, where there is still plenty of available business. Vacant property provided a boost for some insurers...
