Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida Judge Approves Sale of Property Where Collapsed Surfside Condo Stood
Jul 15 2021 // A Florida judge on Wednesday approved the sale of the oceanfront property where a collapsed Florida condominium building once stood, with proceeds intended to benefit victims of the deadly disaster. At a hearing,...
Minnesota Leaves Condo Inspections Up to Property Owners
Jul 15 2021 // Some local building inspectors in Minnesota are fielding questions from residents worried about the safety of their condo buildings following the collapse of a tower in Surfside, Florida, in June. In Minnesota, there is no...
Federal Judge Halts Part of Florida’s New Property Insurance Reform Law
Jul 12 2021 // A federal judge has halted enforcement of a section of Florida’s new property insurance reform (SB 76) law that restricts the advertisements and solicitations of roofing contractors. U.S. District Judge Mark Walker...
Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers
Jul 5 2021 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2020 data for property/casualty...
Newly-Enacted Florida Property Insurance Reform Bill Said to Be Already Working
Jul 5 2021 // Florida Gov. Ron DeSantis officially signed into law reform legislation on property insurance and roofing contractor practices, a measure some said was having a positive impact even before it went into effect. DeSantis...
Why Flood Should be a Covered Cause of Loss in Property Insurance
Jul 5 2021 // There’s something fun about contemplating flood insurance while the ground outside the office is so saturated that it’s like walking on sponges. No. We aren’t having a flood event and even if we were,...
Honeycomb, Digital MGA for Multi-Family Property Insurance, Launches with $3.3M
Jun 23 2021 // Honeycomb, a managing general agent (MGA) for commercial real estate insurance, announced its North American launch following a $3.3M million raise. Investors in Honeycomb (formerly Agilius) include from Phoenix Insurance,...
Extreme Weather, Repair Woes to Push Property Insurance Higher: Hippo CEO
Jun 23 2021 // Extreme weather events and shortage of labor and materials for repairs will push property insurance rates higher in the next several years, the chief executive of U.S. home insurer Hippo said on Tuesday. As homeowners...
Severe Thunderstorms, Tornado Slam Chicago; Injuries, Power Outage, Property Damage Reported
Jun 21 2021 // Severe thunderstorms tore through the Chicago area on Sunday night after the National Weather Service said a “confirmed large and extremely dangerous tornado” had touched down in a western suburb of the city,...
Newly-Enacted Florida Property Insurance Reform Bill Said to Be Already Working
Jun 11 2021 // Florida Gov. Ron DeSantis on Friday officially signed into law reform legislation on property insurance and roofing contractor practices, a measure some say is having a positive impact even before it goes into...
Florida Governor to Sign Property Insurance Measure But Says State Needs to Do More
Jun 10 2021 // Florida Gov. Ron DeSantis said that he will sign recently-passed legislation addressing property insurance costs and roofing contractor practices while adding that he believes that the state needs to do more to curb excess...
Bell and Clements Launches Intellectual Property Insurance for Law Firms
Jun 10 2021 // Bell and Clements Inc., part of Munich Re Specialty Insurance (MRSI), is launching an Intellectual Property Legal Professional Liability (IPLPL) product specifically designed for law firms of all sizes with 65% or more of...
Pennsylvania Property Owners Encouraged to Purchase Flood Insurance
Jun 2 2021 // Pennsylvania Insurance Commissioner Jessica Altman is urging property owners to consider purchasing flood insurance to protect their homes, businesses and possessions. For many Pennsylvanians, extreme weather, including...
Too Little, Too Late? Breaking Down Florida’s Latest Property Insurance Reforms
Jun 1 2021 // A bill passed by the Florida Legislature to address the state’s property insurance crisis has created optimism among some stakeholders, while others say it will not reduce rates over the next 18 to 24 months or stop...
AM Best Withdraws Credit Ratings of First American Property & Casualty and First American Specialty
May 28 2021 // AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb” (Good) of First American Property & Casualty Insurance Co. and First American Specialty...
AM Best: Florida’s Property Insurance Market Hit 5-Year Financial Low in 2020
May 27 2021 // AM Best’s composite of Florida property insurance companies hit five-year performance and surplus lows in 2020, and given persisting and significant market hurdles, companies will find sustaining current surplus...
Michigan Property Owners Win Key Court Ruling in Failed Dams Lawsuit
May 23 2021 // Property owners near dams that failed in the Midland area won a key decision in lawsuits against the state. Judge Cynthia Stephens said the lawsuits can go forward, rejecting a request to dismiss by the Department of...
Lumen Risk Services, Transverse to Offer Commercial Property Coverage
May 21 2021 // Program administrator Lumen Risk Services, in partnership with Transverse Insurance Group, has launched a new commercial property insurance program. The non-admitted program will initially offer monoline property coverage...
Insurer Aviva Will Close 3 UK Property Funds Hit by Pandemic Economic Turmoil
May 20 2021 // Insurer Aviva said it will close three UK property funds in July that have been suspended since March last year due to market uncertainty as the pandemic hit Britain’s economy. “During this period of economic...
Hasner, Knight, Telemaco Join Board of Citizens Property Insurance
May 19 2021 // Governor Ron DeSantis has appointed three new members to the board of governors of Citizens Property Insurance Corp., his office said in a statement. Jillian Hasner of Boca Raton currently serves as president and chief...
