Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
SageSure, SURE to Add Coverage Options for Coastal Property in Texas
May 12 2021 // SageSure, a managing general underwriter and insurtech specializing in catastrophe-prone property markets, and SureChoice Underwriters Reciprocal Exchange (SURE), have partnered to expand insurance capacity for homeowners...
Florida Legislature Passes Major Changes to Auto, Property Insurance Markets
Apr 30 2021 // Florida lawmakers passed two bills on the last day of their 2021 legislative session that make major changes to the state’s auto and property insurance markets. The actions follow weeks of back-and-forth debate on...
California MGU Foresight Expands Commercial Property Offerings
Apr 30 2021 // San Francisco-based Foresight Risk & Insurance Services is offering new commercial property insurance lines coverages including inland marine, contractors equipment and builders’ risk, which will be offered as a...
Biden Administration Considering Intellectual Property Rights Waiver for COVID Vaccines
Apr 28 2021 // The White House is considering options for maximizing global production and supply of COVID-19 vaccines at the lowest cost, including backing a proposed waiver of intellectual property rights, but no decision has been...
Integrated Specialty Coverages Launches Vacant Property Program
Apr 27 2021 // Integrated Specialty Coverages (ISC), a multi-line program administrator that builds end-to-end insurance products with artificial intelligence (AI) engineering and data analytics, has launched its Vacant Property Program...
Insurers Have Paid Nearly $1.7B Property, Auto Claims from Texas Winter Storm
Apr 19 2021 // As of late March, Texas policyholders had filed 386,108 property and auto insurance claims related to the winter storm that blanketed the state in mid-February. That number reflects preliminary results from a data call...
Auto Insurers Lead 2020 U.S. Property/Casualty Impairments: AM Best
Apr 16 2021 // Seven insurance company impairments were identified in the U.S. property/casualty industry in 2020, with five of the seven involving auto insurers, according to an AM Best special report. Last year’s number was an...
People Moves: RHSB Promotes Croy to VP, Property/Casualty
Apr 14 2021 // Roach Howard Smith & Barton Dallas-based independent insurance broker Roach Howard Smith & Barton (RHSB) has promoted Shellie Croy to vice president of Property and Casualty Operations. She has been with RHSB since...
NAIC Data: Florida Property Lawsuits Total 76% of Insurer Litigation in U.S.
Apr 14 2021 // New information from Florida’s insurance regulator paints a stark picture of the extent of litigation facing the state’s domestic insurers. The information comes as numerous stakeholders push for legislative...
Florida Senate Passes Property Insurance Reform Bill
Apr 9 2021 // A bill backed by the Florida insurance industry and other stakeholders aimed at addressing the state’s insurance market woes was passed in the Senate chamber this week but faces an uncertain future as the companion...
Property Damage, Arrests Lead to Crack Down On Spring Break Partying in Miami Beach
Mar 23 2021 // A party-ending curfew imposed after fights, gunfire, property destruction and dangerous stampedes broke out among huge crowds of people in Miami Beach could extend through the end of spring break. Miami Beach commissioners...
The Inflation Specter Looms for Property/Casualty Insurers
Mar 23 2021 // Inflation, defined as the rate at which prices for goods and services are increasing, tends to occur when prices rise due to increases in production costs or when the demand for a product exceeds its supply (i.e., too much...
