Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Insured Property Losses from Australia’s Townsville Floods in 2019 Hit A$1.24B: PERILS
Feb 11 2020 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has disclosed its fourth and final property loss estimate for the flood event which hit northern Queensland,...
Sompo Global Risk Solutions Launches Product for Life Sciences Industry
Feb 11 2020 // Sompo Global Risk Solutions has introduced Sompo Life Science Plus, a products-completed operations and errors and omission liability protection product built for the life sciences industry. The new product offers coverage...
AM Best: Florida Insurers Brace for Challenging June Reinsurance Renewals
Feb 11 2020 // Although the 2019 hurricane season did not have a significant impact on Florida, loss creep from prior storms continues to weigh on reinsurers, leading to a likely rise in rates for the upcoming June renewal period. As...
Allstate’s Growth Plan Includes Shift in Agent Commissions, Hike in Advertising
Feb 10 2020 // Allstate first disclosed its Transformative Growth Plan in December, an effort to overhaul how it does business, boost efficiency and reduce expenses. During the Illinois-based property/casualty insurer’s Q4 2019...
Take a ‘Deep Dive’ Into the Nonprofit Sector: Nonprofits Treading Water as Market Hardens
Feb 10 2020 // The task of insuring nonprofit organizations is a complex one and agents, brokers, underwriters and carrier representatives say that in order to fully serve those entities that serve our communities in myriad ways,...
Insurance CEO Takes Fight for Nonprofit Coverage to Congress
Feb 10 2020 // Pamela Davis, president, founder and CEO for the Nonprofits Insurance Alliance (NIA), is on a mission to help nonprofits be successful at their mission by ensuring insurance is affordable and available. She started the...
20 Things to Know About Surplus Lines Insurance in 2020
Feb 10 2020 // As we embark upon a new decade, the surplus lines insurance market has never been stronger. Growth in specialty products and demand for insurance protection in an increasingly dynamic, technological climate necessitates a...
Sipe Promoted to Property/Casualty Sr. VP at Ohio’s Great American Insurance
Feb 3 2020 // Cincinnati, Ohio-based Great American Insurance Group has promoted Carol Sipe to senior vice president within its Property/Casualty Group. Since 2009, Sipe has served as president of Summit, a provider of workers’...
Swiss Re Corporate Taps Ex-Allianz Exec Willauer as Head Property & Specialty, EMEA
Jan 28 2020 // Swiss Re Corporate Solutions has appointed Bianca Willauer as head Property & Specialty Lines, Europe, Middle East and Africa (EMEA), effective Feb. 1, 2020. In this role, Willauer will be responsible for the...
Logic & Language, Forms & Facts: The Unimpeachable Case of the Word ‘Are’
Jan 27 2020 // Last year, I wrote a 12-part series of Insurance Journal columns based on my book “When Words Collide: Resolving Insurance Coverage and Claims Disputes” where I shared the principles and practices I’ve...
Policy Changes Now in Effect at Texas Windstorm Insurer
Jan 27 2020 // The new year brought some changes to residential and commercial policies provided by Texas’ insurer of last resort for wind and hail along the coast. New coverages, terms and conditions now apply to Texas Windstorm...
Industry Calls On Florida Lawmakers to Reform Lawsuit Abuse
Jan 27 2020 // Florida lawmakers are considering a number of insurance-focused issues over the course of the 60-day 2020 Legislative Session that started Jan. 14. At the top of the list for industry and consumer advocates are reforms to...
California Man Arrested for Insurance Fraud on Top of an Apparently Legit $1M Claim
Jan 22 2020 // A California man is being charged with attempting to defraud his insurer of $43,000 while his $1 million property claim from one of the massive wildfires that struck the state in 2018 appears to be legitimate. Stephen...
Liberty Mutual’s Irish Insurer Exits Several Lines Including Commercial Liability, Property
Jan 17 2020 // Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, is exiting its commercial liability, commercial property and development bonds lines of business. Liberty will continue to provide services and...
Florida Legislative Session 2020: Insurance Bills to Watch
Jan 16 2020 // The Florida insurance industry will be focused on several key issues this session, including reform for auto glass (windshield) assignment of benefits (AOB) abuse, reforms to the state’s legal system, as well as...
Florida Legislative Preview 2020: Industry Calls On Lawmakers to Reform Lawsuit Abuse
Jan 16 2020 // The Florida Legislature started its 2020 legislative session this week and lawmakers are set to consider a number of insurance-focused issues over the course of the 60-day period. At the top of the list for industry and...
HCI to Acquire Policies of Florida’s Anchor P&C; Weston to Acquire Anchor Specialty
Jan 15 2020 // Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has...
Valuation of Manufactured Homes
Jan 15 2020 // Building valuation can be confusing at best. If you go to a real estate website like Zillow, it’ll give you an estimated market value for a building. It’s doubtful that anyone really knows how they come up with...
Perez Joins Atlanta-Based SIU’s Commercial P&C Team
Jan 14 2020 // Southern Insurance Underwriters, Inc. (SIU) has added Jose Perez to the Commercial Property and Casualty underwriting team. Perez comes to SIU with more than 20 years of experience in the insurance industry and a penchant...
Carpenter’s Global Property Catastrophe Index Rises by 5% in January Renewals
Jan 10 2020 // Pricing corrections in the property catastrophe reinsurance market over the last few years have been localized and mitigated to some extent by sufficient levels of capacity, according to Guy Carpenter in its January...
