Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida Senate Property Insurance Bill Pleases Regulators, Angers Insurers
Apr 16 2008 // As insurers and other interested parties criticized a Florida property insurance bill that passed through the state Senate this week on a 32-7 vote, Florida’s insurance commissioner lauded the action. Sponsored by...
Union General Offers Vacant Property Market
Apr 14 2008 // Union General Insurance Services Inc. of Concord, Calif., has an “A+” rated carrier offering package coverage, general liability and property for vacant properties. Coverage is available for all types of...
High Net Worth Property Underwriter Moves into Florida Panhandle
Apr 8 2008 // Florida-based Privilege Underwriters Reciprocal Exchange (PURE) plans to expand into the Florida Panhandle, according to Ross Buchmueller, president and chief executive officer, PURE Risk Management LLC . PURE will offer...
AIG Rebrands Domestic Insurance as P/C Group; Shuffles Executives
Apr 7 2008 // Insurance giant American International Group, Inc. has renamed its Domestic General Insurance operations the AIG Property Casualty Group, a move the company says reflects the increasing power of AIG’s corporate brand...
Climate Change Heats Up Insurance Industry
Apr 7 2008 // Greenhouse gases (GHGs) have gotten a bad rap, according to Mark C. Bove, senior research meteorologist, catastrophic risk management for Munich Reinsurance America. Speaking on a panel about climate change at the...
Ohio Casualty Offers New Custom Protector Products
Apr 3 2008 // Ohio Casualty, a Liberty Mutual Agency Markets regional company, today announced the introduction of Custom Protector, a commercial lines product that offers more built-in coverages with significantly expanded...
Atlantic American Sells its Regional Property and Casualty Operations
Apr 1 2008 // Atlanta-based Atlantic American Corp. sold its regional property and casualty operations to Columbia Mutual Insurance Co. of Columbia, Mo. Included in the sale are Association Casualty Insurance Co,, Association Risk...
Some U.S. Homes Now Worth Less Than Their Copper Pipes
Apr 1 2008 // Shards of broken glass outside the basement window of 31 Vine Street (Brockton, Mass.) hint at the destruction inside the three-story home. Thieves smashed the window to break in and then gutted the property for its copper...
Procedures for Depopulating La. Citizens Property Ins. Corp. Unveiled
Apr 1 2008 // The Louisiana Department of Insurance has issued procedures for the first round of depopulation of Louisiana Citizens Property Insurance Corporation (LCPIC). The procedures were established at a meeting on March 14, 2008....
Union General Offers Property Market
Mar 31 2008 // Union General of Concord, Calif., has an “A+” rated carrier offering property coverage for all types of small- and medium-sized commercial risks. Coverage is also available for vacant dwellings and...
Florida Senate Passes Bill to Reduce Insurers’ Catastrophe Coverage Limits
Mar 27 2008 // Legislation passed by the Florida Senate this week would reduce the amount of state-funded reinsurance that insurers can purchase under the temporary increase in coverage limit (TICL) program. The Senate bill would reduce...
Vermont Police: Property Management Co. Victimized Dozens
Mar 26 2008 // Police in Montpelier, Vermont have identified 61 victims in the case of a property management company that suddenly went out of business, but no charges have been brought. Tenants, landlords, contractors and others who are...
Market Share Report: Top 25 Property/Casualty Insurers
Mar 24 2008 // The National Association of Insurance Commissioners released an updated version of the 2007 market share premium data for the top 25 insurers of select property/casualty lines of business. The report includes countrywide...
People
Mar 24 2008 // The Hartford’s Chief Financial Officer David M. Johnson plans to step down later this year. He has served as the company’s top financial officer since 2001, and will remain in the position until a successor is...
Head-in-the-Sand Response Won’t Work for Florida Property Insurance
Mar 24 2008 // As the 2008 legislative session begins and hurricane season approaches, Florida’s businesses and homeowners continue to struggle with the increasing cost of property insurance. The quest for answers to the...
People
Mar 24 2008 // McQueary Henry Bowles Troy hired Jimmy Balagia as senior vice president in the firm’s property and casualty group in Austin. Balagia has 30 years of experience as a property and casualty broker/consultant and...
Average Homeowners Policy Rate Comparison is Meaningless
Mar 17 2008 // Despite the insurance industry’s traditional reliance on averages, averages don’t always make sense when comparing premiums. In Texas, as elsewhere, individual premiums are subject to so many variables — from...
Fla. Senate Makes Recommendations on Property Insurance Accountability
Mar 14 2008 // The Florida Senate Select Committee on Property Insurance Accountability wants to restrict reinsurance costs in rates and strengthen the excess profits law among other things. Co-chaired by Sen. Jeff Atwater, R- North Palm...
Lexington Insurance Hikes Capacity for Commercial Property to $1.5 Billion
Mar 14 2008 // Lexington Insurance Co., an AIG company, has increased its capacity for commercial domestic property insurance by an additional $1 billion, raising the total non-catastrophe property capacity to $1.5...
Windstorm Liability Limits Increased for Certain Property in Texas
Mar 11 2008 // Texas Insurance Commissioner Mike Geeslin recently signed an order increasing the maximum limits of liability from $3,390,000 to $4 million for a commercial or government building insured for wind and hail by the Texas...
