Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Court: Vermont Can’t Collect on Pollution Cleanup
Aug 11 2010 // The state of Vermont can’t collect from a succession of owners of a property in downtown Barre that was polluted by a former dry cleaning shop, the Vermont Supreme Court has ruled. The justices on Friday upheld a...
Chartis Increases Offshore Energy Property Capacity to $200 Million
Aug 10 2010 // Chartis has increased its underwriting capacity from the Oil Rig unit of its Global Marine and Energy Division from $150 million to $200 million. This substantial increase highlights the Chartis insurers’ commitment...
Berkshire Hathaway Profit Down on Derivatives But Insurance Way Up
Aug 9 2010 // Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent,...
State Insurance Commissioners Warn on Keeping Vacant Homes Insured
Aug 9 2010 // As the U.S. housing market struggles to rebound, many homeowners are stuck with hard-to-sell properties longer than expected. Some frustrated home sellers who must relocate for a new job opportunity, want to downsize or...
Willis Launches PatentWize to Help Manage Intellectual Property Risk
Aug 9 2010 // Willis Group Holdings is partnering with Innography to launch Willis PatentWize, an enterprise-wide business intelligence solution that is part of Willis’ overall plan to help companies better manage their...
Cincinnati Financial Q2 2010 Income Up from Previous Year
Aug 5 2010 // Cincinnati Financial Corp. saw net income for the second quarter of 2010 rise to $27 million compared with a net loss of $19 million for the same period in 2009. Operating income for the quarter was $42 million compared...
Texas Commissioner Orders $551K in Fines and Restitution in June
Aug 5 2010 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during June 2010 included four license revocations, three license denials, and fines and restitution totaling $551,012. Copies of...
How Claims Service Cultivates Insurance for Trees, Landscapes
Aug 4 2010 // A seed that was planted when one of the owners discovered that a medium-sized tree on his property would cost as much as $10,000 to replace, and that there was not sufficient insurance for it, has blossomed into a national...
New York Raises Property Damage Threshold for Insurance Surcharges
Aug 3 2010 // Good news for New York drivers: They can now damage their cars a little bit more before an insurer can surcharge their policies, thanks to a law change signed this weekend by Governor David Paterson. The law raises to...
Upside of the Downside: P/C Brokers Serve Distressed Property Market
Aug 2 2010 // The vacant and distressed property segment has been a beacon of light for insurers and brokers as the economy has forced the closure of businesses and halted construction projects, resulting in a number of vacant buildings...
People
Aug 2 2010 // MarketScout Wholesale (MSW) has expanded operations opening a new location in Tampa, Florida. Greg Lyons joined MSW to lead Florida operations as a senior broker. Prior to joining MSW, Lyons was a property broker with...
People
Aug 2 2010 // Stephen M. Franz was named senior vice president of Dallas-based managing general agency and wholesale broker Capstone Underwriters LLC. Franz has been with Capstone since 2004. Prior to Capstone, he held positions at all...
Distressed and Vacant Properties Fill a Void for Insurers
Aug 2 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed in the past couple years as the economy has forced the closure of many...
The Economy and the Homeowners Market
Aug 2 2010 // How the Economy Turned Optional Coverages into Mandatory Enhancements Offering comprehensive homeowners coverage in today’s insurance market is not only good business, but a necessity. Insuring the property for full...
North Dakota Property Crime Rate Down, but Violent Crimes on Rise
Jul 29 2010 // Attorney General Wayne Stenehjem says North Dakota’s crime rate dropped slightly last year, but the number of violent crimes rose. A new report provides North Dakota statistics for a number of crimes, including...
Massachusetts Court Changes Slip-and-Fall Liability
Jul 28 2010 // In a decision that changes nearly a century’s worth of case law, Massachusetts highest court has ruled that property owners can be held liable for snow-related injuries — regardless of whether plows cleared the...
Texas Court Gives New Life to Contractual Liability Exclusion
Jul 27 2010 // Where contractors are involved, one of the most intractable problems for a carrier in negotiating and settling claims are the contract liability issues. How does a carrier identify if a contractual claim is covered? A...
Best Assigns ‘A’ Ratings to China Re Group; Outlook Stable
Jul 27 2010 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a” to China Reinsurance (Group) Corporation (China Re or the Group) and its subsidiaries,...
Robertson Picked to Head Louisiana Citizens Property Insurance Corp.
Jul 26 2010 // Louisiana Insurance Commissioner Jim Donelon announced July 23 that he has appointed Richard Robertson, of Northville, Mich., as the new president of Louisiana Citizens Property Insurance Corp. Robertson has a broad-based...
Distressed and Vacant Properties Fill a Void for Insurers
Jul 22 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed over the last couple years as the economy has forced the closure of many...
