Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
Wind Deductibles and Sandy: What It Means for Total Insured Losses
Nov 28 2012 // On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the...
After Sandy, Uncertainty About Real Estate Market, Mortgages, Insurance
Nov 21 2012 // “Reduced for Quick Sale!” reads Mike Montalbano’s Craigslist ad for the three-bedroom home he needs to sell before he can relocate for a new job. The drywall is new, as are the appliances. The only...
Attorneys Discuss Possible Triggers for Business Interruption Coverage
Nov 20 2012 // Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass...
Mass. Independent Agents Have Over $1B Impact on State Economy: Report
Nov 19 2012 // Five years ago, Massachusetts introduced its “managed competition” program — and since then, there has been an influx of direct writing and direct response companies coming into Massachusetts and...
Louisiana Citizens Property Insurance Corp. $56M in the Red
Nov 19 2012 // Louisiana’s state-run property insurer of last resort is $56 million in the red, after it covers claims for Hurricane Isaac and settles class-action lawsuits for improper handling of past storm claims. Steve...
Q&A With Attorneys on Emerging Business Insurance Topics
Nov 13 2012 // As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance...
ISO Adds Alternative Energy Classifications to Commercial Property Program
Nov 13 2012 // ISO has added new classifications to its commercial property program to account for the emergence of alternative energy sources. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics. In response to...
Texas Commissioner: Windstorm Will Be an Issue for Texas Lawmakers
Nov 13 2012 // Among the hundreds of bills filed by Texas lawmakers on the first day of filing for the 2013 legislative session are a handful of proposals related to property/casualty insurance. There are bound to be more, but one...
Louisiana’s State-Run Property Insurer $56M in the Red
Nov 12 2012 // Louisiana’s state-run property insurer of last resort is $56 million in the red, after it covers claims for Hurricane Isaac and settles class-action lawsuits for improper handling of past storm claims. Steve...
Louisiana Citizens Considering Commercial Property Rate Increase
Nov 7 2012 // Louisiana Citizens Property Insurance Corp.’s board is expected to approve increasing its commercial coverage rates by an average of 45.1 percent statewide this week. Almost all of Citizens’ roughly 5,700...
P/C Insurance Editor Sclafane Joins Wells Media Group
Nov 6 2012 // Susanne Sclafane has joined property/casualty insurance media company, Wells Media Group, as Senior Editor. In her new position, Sclafane will be in charge of improving the company’s content and services to meet the...
E&O Risks When Insuring Commerical Property
Nov 5 2012 // It seems that every year commercial property is one of the top three lines of business generating errors and omissions (E&O) claims against agents. Because most agents insure a fair number of commercial buildings, this...
Florida Approves More Takeouts at Citizens; OKs Commercial Hikes
Nov 5 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
Property Crimes Rose 11 Percent in 2011
Nov 5 2012 // The government says the number of violent crimes rose by 18 percent in the United States while the rate of total property crime increased 11 percent, from 125.4 to 138.7 victimizations per 1,000 households between 2010 and...
Louisiana Supreme Court Reduces Insurer Citizens’ Late Payment Penalty
Nov 5 2012 // The Louisiana Supreme Court has relieved the state’s property insurer of last resort of the burden of paying a $125,000 penalty for late payment of a claim settlement stemming from Hurricane Gustav in 2008. Instead,...
