Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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...
Citizens COO Quits; Investigations Ongoing After Kickback Accusations
Oct 3 2005 // Citizens Property Insurance Corp. Chief Operating Officer R. Paul Hulsebusch is facing accusations by Universal Risk Insur-ance Services in Houston, Texas, that after last year’s hurricanes he sought kickbacks from...
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...
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...
Fitch: Katrina Causes Unprecedented Challenges, Risks for P/C Insurers
Oct 3 2005 // The circumstances surrounding Hurricane Katrina are unprecedented in many ways, reports Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance...
Fitch: Hurricane Rita Won’t Cause Widespread U.S. Insurance Company Rating Changes
Sep 26 2005 // Fitch Ratings said Monday it expects Hurricane Rita will represent a material loss to the insurance industry and will create further strain on insurers’ claims-adjusting resources. However, Fitch does not expect any...
Threats From Irate Property Owners Worry Adjusters in Mississippi
Sep 23 2005 // Insurance adjusters working to settle claims in Mississippi sometimes fear for their lives when working with irate property owners, according to Mississippi Insurance Commissioner George Dale. Dale told the Jackson...
Fitch: Katrina Causes Unprecedented Challenges/Risks for P/C Insurers
Sep 19 2005 // Circumstances surrounding Hurricane Katrina are unprecedented in many ways, said Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance...
Midwest FEATURE: Market Spotlight on Illinois and Ohio
Sep 19 2005 // Although the insurance industry — and the rest of us — are waiting for the other shoe to drop in the wake of Hurricane Katrina’s estimated $20 billion to $35 billion in insured losses, business in the...
