Latest Property Headlines

Find a Silver Lining in the Soft Market

Jul 7 2008 // Strategies From ‘Best Practices’ Agencies Searching for ways to survive and thrive in the soft market cycle? Cultivate untapped customer markets; proactively service renewals; use technology for efficiency and...

People

Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...

Find a Silver Lining in the Soft Market

Jul 7 2008 // Strategies From ‘Best Practices’ Agencies Searching for ways to survive and thrive in the soft market cycle? Cultivate untapped customer markets; proactively service renewals; use technology for efficient...

Florida Rejects Farm Bureau 30% Property Insurance Rate Hike Again

Jul 2 2008 // Florida Insurance Commissioner Kevin McCarty has officially adopted the ruling of an administrative law judge who rejected a 30.3 percent property insurance rate increase sought by Florida Farm Bureau. “Rulings like...

Condo Insurance Requirements Not Cookie-Cutter

Jun 30 2008 // “Given the great interdependence of the unit owners in the stacked unit condominium situation, mandating property insurance for the entire building is the preferable approach.” This one explanatory sentence...

Fire Hydrant Vandals in Mississippi Pose Threat to Property, Lives

Jun 27 2008 // Officials with the Laurel, Mississippi Fire Department are concerned that some recent vandalism to the city’s fire hydrants could pose problems when its time to save property or someone’s life. Fire Chief David...

P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter

Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...

Maryland Court Wrong in Condo Ruling

Jun 20 2008 // A firestorm of confusion and comment was created by a June 3, 2008, InsuranceJournal.com exclusive report detailing a recent Maryland Court of Appeals ruling regarding a condominium associations’ requirement to pay...

ACE USA Launches Supplemental Property Coverage

Jun 20 2008 // Philadelphia-based ACE USA has introduced a new specialty insurance product that provides additional coverage for expenses and losses that stem from an insured’s property loss. Called ACE Supplemental Property, the...

XL Insurance Adds New Green Building Product

Jun 19 2008 // XL Insurance (“XLI”), the global insurance operations of XL Capital Ltd (NYSE:XL) , launched a new green building product to encourage customers who experience a property loss to rebuild using resource...

Insured Property Value in Hurricane-Prone States to Double in 10 Years

Jun 17 2008 // In the past three years, the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just over 7 percent, according to a new report released by AIR Worldwide...

Jun 16 2008 // People Dallas-based Colemont Insurance Brokers promoted Su Young to vice president in Colemont’s Texas office. Young joined Colemont in 2001 as part of the Texas financial services team and is located in Houston. She...

People

Jun 16 2008 // Golden Eagle Insurance, a Liberty Mutual Agency Markets regional company, appointed Pete McPartland president and CEO. McPartland comes from General Casualty in Sun Prairie, Wis., where he led insurance operations for QBE...

Super Regional P/C Insurers™

Jun 16 2008 // Multi-State, Players Multi-Line Revealed While many property/casualty insurers referred to themselves as super regionals, the definition of a super regional insurer remained unclear until the Feb. 12, 2007, issue of...

Good Time to Lock in Property Insurance Pricing, Advise Brokers

Jun 16 2008 // Science and technology are converging with risk management to help insurers negotiate the current hurricane season such that it’s now possible to use short-term hurricane forecasts — as few as 10 days out...

Court: Insurer Has Right to Reimbursement for Settlement Monies

Jun 12 2008 // A federal district court in Nevada has ruled that an insurer has a right to reimbursement for settlement monies paid for non-covered damages. In Great American Insurance Company of New York v. Vegas Construction Company,...

Mold: Underwriters Endorsing CGL to Remove Coverage

Jun 11 2008 // Contractors are the target of nearly 2,000 mold-related lawsuits annually according to a 2003 report from toxlaw.com. When accused or sued for injuries and damages resulting from mold, contractors look to their commercial...

HSB InSight Addresses Inadequate Business Property Valuations

Jun 11 2008 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB) is now offering HSB InSight, a new insurance-to-value (ITV) service designed to help insurers address inadequate valuations for business personal property and...

Texas’ April Enforcement Actions Result in $771K in Fines, Restitution

Jun 10 2008 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during April 2008 include nine license revocations, two license denials and fines and restitution totaling $771,165. The today...

California Lawmakers Address Disaster Response, Automative Repair, and More

Jun 6 2008 // California lawmakers recently approved several insurance-related bills, addressing such topics as disaster response and automative repair following a crash. Following is a summary of recent legislation, as provided by the...