Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Questions & Answers
Aug 14 2000 // Q. We have a business client whose home is located on 10 acres of land with a barn. On this land the insured, who is not a farmer, keeps a small tractor/mower and several horses, along with saddles and tack for personal...
Montana State Auditor Orders Insurers to Drop Wildfire-Related Moratoriums
Aug 4 2000 // State Auditor Mark O’Keefe told all property and casualty insurance companies doing business in Montana to lift all blanket wildfire-related moratoriums on new or increased levels of property insurance, or face...
Commentary: Examining Slave Insurance in a World 150 Years Removed
Jul 24 2000 // In March 2000, Aetna, the nation’s largest health insurer, was criticized for participating in slave insurance 150 years ago. Aetna apologized and expressed its “deep regret” over participating in this...
Conning Co.: Property/Casualty Industry Must
Jul 18 2000 // Insurers in the property/casualty sector will not be able to reduce expense levels significantly unless they address their commission and other acquisition expenses, according to a recent Conning & Company...
Property Insurers Posting Lower Q2 Net
Jul 18 2000 // U.S. property/casualty insurers are expected to post lower second-quarter profits this year as a result of low premium rates and high claims costs. “It’s a deadly combination,” Edward Liddy, chief...
Kemper Casualty Launches Excess Property Operation
Jul 18 2000 // Kemper Casualty Company has launched an excess property insurance facility providing up to $50 million in capacity to domestic and U.S.-based multi-national, energy, industrial and commercial large risk customers. The...
ISO Estimates U.S. Insurers Will Pay $1.4 Billion
Jul 10 2000 // U.S. property/casualty insurers will pay $1.4 billion to homeowners and businesses for insured property losses from 10 catastrophic events in the second quarter of this year, according to initial estimates from the...
Successor Liability for Renewal Commissions
Jul 10 2000 // Employees and operatives often have tensions and conflicts with their employers and principals. This general and highly abstract truth applies no less to insurance agents than to anyone else. Agents want a larger share of...
Penn-America Group Second Quarter Results Expected to Fall Short of Analysts’ Estimates
Jun 22 2000 // Penn-America Group, Inc. expects second quarter earnings estimates to be lower than the consensus estimate of $0.21 per share. This lower expectation reflects losses in the company’s commercial property portfolio....
CIBC To Sell Property/Casualty Units
Jun 22 2000 // CIBC has agreed to sell its property and casualty insurance companies, The Personal Insurance Company of Canada and CIBC General Insurance Company Limited, to Desjardins-Laurentian Financial Corporation (DLFC), subject to...
I.I.I. Economist Comments on First Quarter 2000 Results
Jun 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 7.0 percent (on an annualized basis) during the first quarter of 2000, down from 10.7 percent in same quarter of 1999 but up from 6.6 percent...
Whose Responsibility Is It’ Educating Agents and Insureds about Flood Insurance
Jun 12 2000 // The Federal Emergency Management Agency (FEMA) estimates that almost 11,000 households in the U.S. are at risk for flooding, which accounts for 90 percent of all disasters nationwide. Yet, the vast majority of American...
Arizona Court Looks to Answer the Question: Is a Computer Crash Property Damage’
Jun 7 2000 // An Arizona court ruling looks to redefine policy language dealing with the definition of “property damage” and how it relates to computer crashes. David Golden, director of commercial lines for the Insurance...
Questions & Answers
Jun 5 2000 // Q. Our insured is renting a facility for a wedding reception. Does homeowners liability provide coverage for our insured for the rental of this facility? A. The Homeowners exclusion 1.E.(2) excludes coverage to...
AIG Realigns Property/Casualty Operations
Jun 1 2000 // American International Group has realigned its property/casualty insurance operations in order to serve the needs of U.S.-based companies with international operations more effectively and efficiently. The North American...
Travelers Property Casualty Launches New Web-based Business System
May 19 2000 // Travelers Property Casualty has launched a new integrated business system for independent agents. The system exceeds the insurance industry’s standard platform by connecting all aspects of sales and service, allowing...
Slavery & InsuranceExamining slave insurance in a world 150 years removed
May 15 2000 // Recently, in March 2000, Aetna, the nation’s largest health insurer, was criticized for participating in slave insurance 150 years ago. Aetna apologized and expressed its “deep regret” over participating...
Insurers to Pay $1.71 Billion in First-Quarter Property Damage
Apr 13 2000 // U.S. property and casualty insurers will pay $1.71 billion to homeowners and businesses for insured property losses from seven catastrophic events in the first quarter of this year, according to initial estimates from...
WORKERS’ COMP MARKET OVERVIEW
Apr 3 2000 // CALIFORNIA STILL CRAZY AFTER ALL THESE YEARS By Sky Barnhart “After five years of product being given away, it’s a crazy, crazy market, and it’s put a lot of people on the producers’ side out of...
Privacy Legislation Could Have a Negative Impact on W/C Insurers
Apr 3 2000 // broad coalition of insurance and employer trade associations and companies recently filed comments with the U.S. Department of Health and Human Services on proposed medical records privacy regulations. Insurers argue the...
