Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Correction: Crump Group No. 1 Overall Wholesaler
Apr 16 2010 // The original story on the acquisition of Colemont Brokers by AmWINS Group identified the post-merger AmWINS as the largest wholesale broker. But this is only true when considering property/casualty premiums...
P/C Industry’s Net Income Up $25B in 2009; Combined Ratio Improves
Apr 15 2010 // The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C...
Italy’s Mt. Vesuvius Ranked as Europe’s Most Dangerous Volcano
Apr 15 2010 // A major eruption of Italy’s Mount Vesuvius could result in 8,000 fatalities, 13,000 serious injuries and total economic losses of more than $24 billion, says a new study. According to the Willis Research Network...
AmWINS CEO DeCarlo on Colemont Merger, Texas and Going Global
Apr 14 2010 // The acquisition of wholesale insurance broker Colemont Insurance Brokers by its competitor AmWINS Group gives AmWINS entry into international markets for the first time and a bigger presence in Texas, where Colemont is...
A.M. Best Affirms Ratings of Lyndon Property Insurance Co.
Apr 8 2010 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of St. Louis, Mo.-based Lyndon Property Insurance Company (Lyndon Property). The outlook for both...
Traditional Property Policies Can Leave Green Buildings Exposed
Apr 8 2010 // With the U.S. Green Building Council forecasting growth in the green building market to double between now and 2013, agents and brokers can expect to see increasing client demand for green insurance coverage. Because...
Federal Judge in New Orleans Awards $2.6M in Chinese Drywall Case
Apr 8 2010 // A federal judge in New Orleans has awarded seven plaintiffs from Virginia more than $2.6 million in a consolidated case involving damage to the plaintiff’s homes as a result of the installation of substandard drywall...
Property Firm Purchases Infamous AIG Party Hotel
Apr 7 2010 // Washington Holdings, a private real estate company, said Tuesday it bought the St. Regis Monarch Beach Resort, which became infamous after American International Group Inc executives spent lavishly there weeks after a...
Louisiana Bills Would Ban Insurance Cancellations from Drywall
Apr 5 2010 // Two bills that would prohibit property insurance companies from canceling policies or raising rates on homeowners who make damage claims stemming from corrosive Chinese drywall were proposed in Louisiana in advance of the...
When a House Is a Home… and a Museum
Apr 5 2010 // How One Insurance Agency Is Helping to Preserve Historic Homes and Businesses While other insurance agents are visiting manufacturing plants, shopping malls and office parks, Brian Phoebus hangs out in historic homes,...
People
Apr 5 2010 // Novato, Calif.-based Fireman’s Fund Insurance Co. named David Zona senior vice president of product management in commercial insurance. He will be responsible for setting direction and priorities for various...
When a House Is a Home… and a Museum
Apr 5 2010 // How One Insurance Agency Is Helping Preserve Historic Homes and Businesses While other insurance agents are visiting manufacturing plants, shopping malls and office parks, Brian Phoebus is hanging out in historic homes,...
IMA of Texas Hires Bailey as VP – Benefits, Property and Casualty
Apr 2 2010 // IMA of Texas Inc., a retail insurance broker and risk management firm, announced that Kyle A. Bailey joined the company as a vice president for employee benefits and property and casualty insurance. Bailey has more than 12...
Acadia Launches Coverage for Cleaning Services
Apr 1 2010 // Acadia Insurance has designed a new set of customized coverage forms for the growing building cleaning services industry throughout New England and New York. The Acadia Clean program targets the specific needs of...
Florida’s Crist Opposes, Bush Backs Bill Deregulating Insurance Prices
Mar 31 2010 // Tallahassee politicians must ensure a robust private property insurance market to avoid a financial disaster if a major hurricane or several smaller storms strike the state this summer, former Gov. Jeb Bush said this...
Haucke Joins Swett & Crawford’s Property Practice Group in Dallas
Mar 30 2010 // Hayden Haucke has joined Swett & Crawford’s Dallas operation as a broker in its property practice group. Haucke was most recently with CRC in Dallas handling both inland marine and casualty lines of business. He...
Best Affirms Hartford’s ICR – Outlook Negative; Other Ratings Affirmed
Mar 29 2010 // A.M. Best Co. affirmed the issuer credit rating (ICR) of “bbb+” of The Hartford Financial Services Group, Inc. with a negative outlook. The rating agency also affirmed the FSRs of ‘A’ (Excellent)...
Louisiana Bills Would Ban Insurance Cancellations from Drywall Claims
Mar 26 2010 // Property insurance companies would not be allowed to cancel policies or raise rates on homeowners who make damage claims stemming from corrosive Chinese drywall, under two proposed state laws in Louisiana. Bills by state...
UK’s Miller Enhances North American Property Capability
Mar 25 2010 // London-based insurance and reinsurance broker Miller announced that it has strengthened its North American property broking team with the appointment of Robert Pound. He has more than 10 years’ experience in the...
Some Red Flags in Residential Arsons Fly Before the Fire
Mar 22 2010 // Financial stress is the No. 1 reason residential dwellings are intentionally torched, but proving arson is not that easy. Only around 6 percent of arson offenses in 2007 resulted in convictions, according to the Federal...
