Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Some Rezoned Flood Insurance Policyholders Get Price Break
Oct 18 2010 // The nation’s flood insurance program is extending the availability of lower cost policies for some property owners who have been recently remapped into higher-priced areas. Since 2008, many homes and businesses in...
Iowa Court: Property Transfer Doesn’t Negate Builder’s Risk Policy
Oct 18 2010 // The Iowa Court of Appeals upheld a decision by a lower court that a builder’s risk insurance policy remained in effect after the policyholder transferred the property, by warranty deed, to another party in exchange...
10 Things to Know About Commercial Property Insurance
Oct 18 2010 // 1. Flood Coverage Flood coverage is NOT included in the Commercial Property Package (CPP). 2. Vacant v. Unoccupied “Vacant” and “unoccupied” are not synonymous in the CPP. A building or unit can be...
E&O Insights: Co-Insurance Penalty
Oct 18 2010 // What It Means to Your Customer and Your Agency Co-insurance penalty. Trust me these are not the words you want to hear from your customer right after a claim. How confident are you that your customers know: 1) if they have...
AAIS Introduces New Policies for Builders’ Risk, Installation Floaters
Oct 12 2010 // A national property/casualty advisory organization has developed several new policy forms insurers can use for writing the builders’ risk and installation floater classes of inland marine insurance. The American...
Court: Property Transfer Doesn’t Negate Builder’s Risk Policy
Oct 8 2010 // The Iowa Court of Appeals upheld a ruling by a lower court that a builder’s risk insurance policy remained in effect after the policyholder transferred the property, by warranty deed, to another party in exchange for...
S&P Raises AFG’s Subsidiaries Ratings to ‘A+’; Outlook Stable
Oct 7 2010 // Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on American Financial Group’s (AFG) core insurance subsidiaries to ‘A+’ from...
Best Affirms FM Global Group’s ‘A+’ Ratings; Outlook Stable
Oct 5 2010 // A.M. Best Co. has affirmed the financial strength ratings of ‘A+’ (Superior) and issuer credit ratings of “aa” of FM Global Group and its lead company, Factory Mutual Insurance Company, and its...
A Wealth of Risks: Serving High Income Clientele
Oct 5 2010 // For insurance agents, there is a lesson to be learned from Hulk Hogan — particularly about the pitfalls of selling coverage to wealthy clients. The well-known, ex-professional wrestler turned reality TV star is suing...
Rep. Taylor Frustrated Over Failure of Windstorm Coverage Add-On
Oct 4 2010 // In Pascagoula, Miss., on the Gulf Coast, agent Laverne Nelson has to get windstorm coverage for her personal property from the state wind pool. That is because in April her property insurer, MetLife Property &...
Some Rezoned Flood Insurance Policyholders Get Price Break
Oct 4 2010 // The nation’s flood insurance program is extending the availability of lower cost policies for some property owners who have been recently remapped into higher-priced areas. Since 2008, many homes and businesses in...
Eligibility for Preferred Risk Flood Insurance Pricing to Be Extended
Oct 4 2010 // Since 2008, many homes and businesses in the United States have been re-zoned on Federal Emergency Management Administration flood hazard maps from low-to-moderate flood risk areas into higher risk areas, and vice versa....
Eligibility for Preferred Risk Flood Insurance Pricing to Be Extended
Oct 4 2010 // Since 2008, many homes and businesses in the United States have been re-zoned on Federal Emergency Management Administration flood hazard maps from low to moderate flood risk areas into higher risk areas, and vice versa....
Schwarzenegger Signs Homeowners Insurance Disclosure Law
Oct 1 2010 // California Gov. Arnold Schwarzenegger has signed into law new rules designed to make it easier for understand their choices when purchasing homeowners insurance. AB2022 will, on July 1, 2011, revise the mandatory language...
Florida Approves 10.3% Rate Hike for Citizens Property
Sep 23 2010 // Florida Insurance Commissioner Kevin McCarty has approved a statewide average homeowners insurance rate increase of 10.3 percent for policies written by the state-backed Citizens Property Insurance Corp. Citizens had filed...
Eligibility for Preferred Risk Flood Insurance Pricing to Be Extended
Sep 23 2010 // Since 2008, many homes and businesses in the United States have been rezoned on Federal Emergency Management Administration flood hazard maps from low-to-moderate flood risk areas into higher risk areas, and vice versa....
Washington Supreme Court: Actual Cash Value Includes Sales Tax
Sep 22 2010 // The Washington Supreme Court has ruled that an insurer is required to pay sales tax when reimbursing a client for the actual cash value (ACV) of damaged property. According to court documents in Laura Holden v. Farmers...
High Value Homeowners Market Healthy Despite Tough Economy
Sep 21 2010 // One of the most important features of writing high net worth business is high value homeowner’s coverage — but these policies can be complicated for agents to understand because they have many more components...
E&O Coverage for Real Estate Agents – Don’t Sell a Home Without It
Sep 20 2010 // Liability Woes Include Misrepresentation, Structural Defects, Legal Errors and More Real estate errors and omissions (E&O) liability coverage is big business. Although the recent property debacle has focused attention...
Adams, James Join RT Specialty Property Team
Sep 16 2010 // Charlie Adams and Angela James have joined the RT Specialty property team in Orange County, Calif. Each brings more than 20 years of experience in the excess and surplus property marketplace. Their expertise in course of...
