Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Max Re Establishes Property Underwriting Capability
Sep 16 2004 // Bermuda-based Max Re Capital Ltd. announced that its subsidiary, Max Re Ltd., has increased its product offerings by the formation of a dedicated property division. The department will provide insurance and reinsurance...
S&P: Challenges to Property Catastrophe Reinsurers
Sep 16 2004 // Standard & Poor’s Ratings Services has published a review of the property catastrophe reinsurance industry, titled “Is Property Catastrophe Reinsurance a Commodity,” examining its commodity-like...
Disaster Assistance Option for Insured Property Owners Following Hurricanes
Sep 13 2004 // People who have applied for assistance for hurricanes Charley or Frances may still be able to get help even if they got a letter from the Federal Emergency Management Agency (FEMA) telling them they are not eligible at...
N.C. Receives Federal Aid Programs
Sep 11 2004 // North Carolina is receiving federal aid programs to help in the aftermath of Tropical Storm Frances. The following is a summary of key federal disaster aid programs that can be made available as needed and warranted under...
A.M. Best Moves Rating for Safeway Property Insurance Co. Under Review
Sep 8 2004 // A.M. Best Co. has placed the financial strength rating of B (Fair) of Florida-based Safeway Property Insurance Company under review with negative implications. This rating action is being taken as a result of the decline...
Three Years Later: Industry Rebuilds from 9/11, But Doesn’t Forget
Sep 6 2004 // Robert Hartwig, senior vice president and chief economist for the Insurance Information Institute (I.I.I.), knows that while Tuesday, Sept. 11, 2001, will never be forgotten both inside and outside the insurance industry,...
Commercial Property
Sep 6 2004 // Nuts & Bolts: AXIS U.S. Insurance’s excess and surplus property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. The underwriting of this specialized...
Charley Causes a Path of Destruction in Florida, Carolinas
Sep 6 2004 // Lessons from Andrew Taught Industry to “Be Prepared” Lessons learned from the most costly natural disaster in U.S. history more than prepared the insurance industry for the destruction left by Hurricane...
Commercial Property
Sep 6 2004 // Nuts & Bolts: AXIS U.S. Insurance’s excess and surplus property unit is now offering property insurance coverage for U.S.-based lumber, wood products and furniture risks. Covered risks include logging...
Protecting People First Foundation to Study Impact Resistant Glass in Florida
Sep 1 2004 // The Protecting People First Foundation announced it is returning to Southwest Florida to continue an on-site study to document the contribution of impact resistant glass, safety film, hurricane shutters and other...
PCI: Fla. Businesses Hit Hard by Charley
Aug 26 2004 // Florida businesses appear to have suffered a significant portion of the overall damage from Hurricane Charley, according to the Property Casualty Insurers Association of America (PCI). Wednesday’s estimate by the...
ISO: Insurers to Pay Estimated $6.8 Billion on Charley
Aug 25 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $6.8 billion for insured property losses from Hurricane Charley, according to preliminary estimates by ISO’s Property Claim...
Right This Way! Hotels Make Room for Risk Management
Aug 23 2004 // In the months after the Sept. 11 terrorist attacks, the U.S. hospitality industry took a one-two punch. Travel and tourism plummeted as worried Americans canceled vacation plans and cautious businesses cut back on trips....
Property/Casualty Brokers Let Feedom Ring
Aug 23 2004 // Regulators are putting unwanted attention on commercial insurance broker compensation, but it’s unlikely that compensation plans will move away from the fee-based model the industry has been slowly migrating to the...
The Denial is in the Details: Description of the Premises Defines Coverage
Aug 23 2004 // Commercial property issues lead to surprisingly few reported opinions. While they may not result in opinions, many disputes arise over policy interpretation, stemming from the description of the insured premises. Under the...
Mono-line Property
Aug 23 2004 // Nuts & Bolts: Safety Net Insurance Marketing Corporation is offering a new mono-line property facility that is underwritten by an “A” rated California authorized non-admitted market. Coverage is available...
Suit Filed in Pa. over Interest on Unclaimed Property
Aug 20 2004 // When lawyer Ronald J. Smolow recovered stock proceeds from the state’s unclaimed-property fund, his request for $30 in interest was turned down. Now, he is pursuing a lawsuit that could eventually cost the state...
A.M. Best Downgrades Safeway Property Rating
Aug 18 2004 // A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B++ (Very Good) of Safeway Property Insurance Company (Gainesville, Fla.). The outlook is negative. The rating downgrade recognizes the...
Summer in the City: Unconventional Insurance and Olympian Security in Age of Terrorism Risk
Aug 10 2004 // A little more than a year ago, Britain’s Prince William celebrated his 21st birthday with a costume party at Windsor Castle. While William was addressing the partying crowd, a stranger wearing a black beard, white...
‘Round and ‘Round the Cycle Goes, Where it Stops Nobody Knows
Aug 9 2004 // Like the wheels of Lance Armstrong’s bike—a blur of perpetual motion as he powered up mountain after mountain in the Tour de France—the non-stop cycle of the property/casualty insurance market continues on its...
