Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
‘Adequate rate for the risk’ a big concern for industry executives
Jul 24 2006 // The question of how to structure property insurance rates adequately in coastal zones while still making it affordable for people to live and work there is becoming an increasingly important one to insurers and consumers...
Optional federal charter is needed
Jul 24 2006 // Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing...
Ill. RLI Opens New Property Underwriting Office in Northwest
Jul 24 2006 // Peoria, Ill.-based RLI has opened a new property underwriting office in the Seattle area, according to RLI Vice President, West Coast Property, Kevin McDonough. Based in Lynnwood, Wash., the business provides excess and...
Optional federal charter is needed
Jul 24 2006 // Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing...
U.S. property/casualty industry posts record 1Q profits
Jul 24 2006 // News Currents The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined...
Optional federal charter is needed
Jul 24 2006 // Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing...
‘Adequate rate for the risk’ a big concern for industry executives
Jul 24 2006 // The question of how to structure property insurance rates adequately in coastal zones while still making it affordable for people to live and work there is becoming an increasingly important one to insurers and consumers...
Optional federal charter is needed
Jul 24 2006 // Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing...
State Farm to Boost Property Insurance Rates More Than 50 Percent
Jul 20 2006 // State Farm, one of Florida’s largest insurers, will raise property insurance rates by an average of 52.7 percent this year under a plan approved Tuesday by state regulators. The Bloomington, Ill.-based company said...
Ohio Governor Signs Farm Mutual Modernization Law
Jul 20 2006 // Ohio Gov. Bob Taft recently signed legislation which includes provisions benefiting farm mutual insurance companies and their policyholders, according to the National Association of Mutual Insurance Companies’...
Florida Announces Initial Hurricane Damage Mitigation Program Details
Jul 18 2006 // Roof deck attachment, secondary water barriers, roof coverings, brace gable ends, reinforced roof-to-wall connections, opening protection and exterior doors, including garage doors, are included in a two-step process to be...
Blazina Joins Integro’s Property Practice in San Francisco
Jul 12 2006 // Integro announced that Chuck Blazina has joined the company’s San Francisco office as a principal in the Property Practice. Blazina has 17 years of experience in property risk and loss control consulting, most...
Sen. Smith Unveils ‘Comprehensive Plan’ to Fix Florida’s Insurance Woes
Jul 11 2006 // Without a real, comprehensive and workable plan, accumulating financial stress could destroy the viability of the Florida’s insurance market and leave millions of Floridians without affordable and reliable insurance...
Insurer Group Supports State Regulation at Senate Hearing
Jul 11 2006 // The National Association of Mutual Insurance Companies (NAMIC) is convinced that insurance regulatory reform at the state level is the best and safest course for consumers and insurers alike, said a Namic witness in...
La. Commissioner Orders Insurers to Extend Hurricane Prescription Period
Jul 11 2006 // Just over a month after he asked insurance companies in his state to voluntarily do so, Louisiana Commissioner of Insurance Jim Donleon issued Directive 199 mandating that all companies insuring property in Louisiana...
Reinsurance Poses Dilemma for Mass. Fair Plan and Regulator
Jul 9 2006 // Last summer when the Massachusetts Fair Plan, the state’s involuntary homeowners insurance market, looked into purchasing reinsurance, the premium was about $17.5 million. The plan did not purchase the reinsurance...
N.Y. Agents Decry Failure to Make Back-Up Property Insurer Permanent
Jul 7 2006 // The New York State Legislature once again missed an opportunity to help calm a growing homeowners insurance crisis in the downstate region, according to the state’s insurance agents. With insurance companies such as...
OneBeacon Flexes for Commercial Property, Inland Marine Risks
Jul 6 2006 // Commercial and industrial operations, ownership interests, and companies with multi-state locations have a new option from OneBeacon Insurance for safeguarding themselves against loss. With Flex, its new property product,...
N.Y. Title Insurance Rates Slashed
Jun 30 2006 // New York Superintendent of Insurance Howard Mills and Attorney General Eliot Spitzer announced that the insurance department has approved 15 percent rate reductions for title insurance companies that cumulatively have 93...
Texas Enforcement Actions in May Result in More than $224K in Fines
Jun 30 2006 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during May. The actions include eight license revocations and fines and restitution totaling...
