Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
RIMS Benchmark Survey Reports Major Downturn in Commercial Rates
Oct 20 2005 // Commercial insurance premiums took a sharp downward turn in the third quarter, according to the RIMS Benchmark Survey, an industry survey of current policy renewal prices as reported by corporate risk managers. But some...
Fla. Insurance Industry Preps for Wilma
Oct 19 2005 // Hurricane Wilma, with a barometric pressure of 882 mb, is now the most intense hurricane on record in the Atlantic Basin. After rapid intensification Tuesday night, Wilma is now a potentially catastrophic Category 5...
Safeco Unveils Q3 Report; Hurricanes Play Major Role
Oct 18 2005 // Seattle-based Safeco reported solid third-quarter results, with net income of $101.1 million, or $0.80 per diluted share. This figure includes estimated after-tax net catastrophe losses of $115.8 million, or $0.91 per...
A.M. Best: P/C Insurers Report Strong Gains for First Half of 2005
Oct 17 2005 // The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, according to...
Growing a Niche in the Bed and Breakfast Industry
Oct 17 2005 // As leaves begin to fall in the Midwest, city dwellers are making an exodus to quaint towns like Galena, Ill. and Dubuque, Iowa to soak up the autumn colors and ambiance. For many, their stays center around a country inn or...
Growing a Niche in the Bed and Breakfast Industry
Oct 17 2005 // As leaves begin to fall in the Midwest, city dwellers are making an exodus to quaint towns like Galena, Ill. and Dubuque, Iowa to soak up the autumn colors and ambiance. For many, their stays center around a country inn or...
News Briefs
Oct 17 2005 // ALABAMA AIIA Conference, Educational Sessions The Alabama Independent Insurance Agents has scheduled five upcoming seminars in Mobile, Birming-ham and Huntsville. Oct. 19, Small and Rural Agents Conference, two topics,...
Surplus Lines Industry Discusses Life After the Storm
Oct 17 2005 // NAPSLO 2005 ANNUAL CONVENTION: With more than 3,200 people in attendance, the National Association of Professional Surplus Lines Offices’ annual convention convened in San Francisco, Calif., last month to address the...
News Briefs
Oct 17 2005 // Katrina Churns in $34.4B in Losses: Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to...
Cincinnati Financial Lost $3 Mil on Rita
Oct 14 2005 // Cincinnati Financial Corporation today announced an estimate of $3 million for pretax catastrophe losses resulting from Hurricane Rita and updated its estimates of previously announced catastrophe losses. Total...
CNA Takes $280M Hit from Hurricanes
Oct 12 2005 // CNA Financial Corporation announced that its preliminary estimate of losses relating to Hurricane Katrina is approximately $280 million, after-tax. This estimate includes pretax gross commercial losses and loss expenses of...
PIIAWV Conference: Agents Learn In’s and Out’s of Policy ‘Glitches,’ Coverage ‘Fixes’
Oct 11 2005 // “Glitches” in policies agents select for insureds and possible coverage “fixes” to close these gaps or lapses in coverage were discussed by Fred Macy, president of Gray Wolf Insurance Seminars...
ACE USA Forms Energy Risk Unit
Oct 10 2005 // ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announced the formation of ACE Energy, a new retail business unit which will focus on serving the complex insurance needs of the U.S. energy...
Record First-Half, Surplus Boost P/C Insurers’ Ability to Pay Hurricane Losses
Oct 5 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 29.1 percent to a record $30.9 billion in first-half 2005 from $23.9 billion in first-half 2004. Reflecting the industry’s income, its...
Hurricane Katrina Will Not Disrupt Market, Insurers Say
Oct 5 2005 // While property/casualty industry expects insured losses from Hurricane Katrina to reach a record high of $34.4 billion, the Property Casualty Insurers Association of America says insurers will weather the storm of more...
ISO: Preliminary Insured Losses from Katrina at $34.4 Billion
Oct 4 2005 // Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to preliminary estimates by ISO’s...
Large Manufacturing Commercial Property
Oct 3 2005 // Nuts & Bolts: General Casualty Ins. Cos. enhanced their commercial coverages and capacity becoming a market for additional manufacturing lines of business. The Sun Prairie, Wis.-based property and casualty insurer is...
Valuations: Educating Your Client on True Replacement Cost
Oct 3 2005 // There are two calls that an agent or broker might receive that should raise concerns; the first is a call from the IRS audit department and the other is from an insured who says, “I just had a fire.” The reason...
A ‘Safe’ Way to Add Value for Your Customers
Oct 3 2005 // Insurance agents need to stand out from the crowd if they are to successfully compete for good clients. One easy way to do this also happens to be a great way to provide a useful service: Promoting safety and ways to...
People
Oct 3 2005 // Westfield Insurance has named Robert Testa executive, personal lines sales. In this capacity, he oversees employees in five states responsible for new personal lines business. Testa began his career at Westfield in 1991...
