Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Drones: An Emerging Market Quickly Taking Flight
May 23 2016 // So what is all the buzz about? Lately it is about unmanned aerial vehicles (UAV) or drones, which are emerging as a valuable component in a vast array of American businesses and markets. While UAVs are generally associated...
Insured Losses Mount in Ohio from April Storms
May 23 2016 // The Ohio Insurance Institute reports that preliminary estimates of an April storm outbreak caused insured property losses of up to $57.8 million in Ohio alone. Several other states, including Illinois and Indiana, were...
RMS Says $77B in San Francisco Property at Risk from Sea Level Rise by 2100
May 18 2016 // An analysis by catastrophe risk management firm RMS of economic risk to San Francisco’s property from future sea level rise found billions of dollars worth of property at risk. The analysis was used to inform the...
Ohio Insurer Group: April Storm Losses Estimated at $52.6-57.8M
May 12 2016 // The Ohio Insurance Institute reports that an early April storm that caused significant property losses in Ohio and several other states, caused as much as $57.8 million in insured losses in Ohio alone. According to the OII...
Gallagher Partners with Cardinus to Help UK Clients Cut Risk of Underinsurance
May 11 2016 // Arthur J. Gallagher* has partnered with independent specialist Cardinus Risk Management to offer its commercial property and property investor clients a cost-effective nationwide service that will help eradicate the risk...
Watercolor Management Adds Property Coverage for Water Treatment Companies
May 11 2016 // Watercolor Management, an Alabama-based managing general underwriter, will open new property underwriting facilities for water treatment businesses through an agreement with a new surplus lines carrier. The agreement...
Ratings of Financial American Property and Casualty Insurance Downgraded
May 3 2016 // A.M. Besthas downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of Financial American Property and Casualty...
Special Report: Execs Warn of Impending Florida Market Crisis Over Water Loss Claims
May 3 2016 // Abuse of assignment of benefits (AOB) from water loss claims has become a full-blown Florida insurance crisis that will mean higher insurance rates next year and for the foreseeable future for every Florida policyholder,...
Who Moved Your Cheese? The End (for Now) of Market Cycles
May 2 2016 // The good news is that for the foreseeable future, with certain exceptions, you will not have to tell your clients their premiums are increasing 10 percent or more. Property/casualty carriers collectively, not necessarily...
Kinsale Insurance Hires Manahan to Lead E&S Property in Virginia
Apr 29 2016 // Stephen Manahan Kinsale Insurance Company, a domestic excess and surplus lines insurance company based in Richmond, Virginia, has hired Stephen Manahan as senior vice president of Excess & Surplus Lines Property. In...
Large Insurers Eager But Cautious About Drone Insurance Market
Apr 29 2016 // A growing number of insurance companies envision a large, robust insurance market for liability and property coverage associated with drone use. However, many insurers currently are proceeding with caution in light of...
2 Ohio Property/Casualty Insurers Approved to Operate in Arkansas
Apr 27 2016 // Arkansas Insurance Commissioner Allen Kerr has approved Ohio-based All America Insurance Co. (AAIC) and Central Mutual Insurance Co. (CMIC) to do business in the state. The companies now have the authority to offer...
Location Data: The New Fabric of Our Lives
Apr 25 2016 // This post is part of a series sponsored by CoreLogic. The Importance of Accuracy and Granularity when Navigating the World of Big Data When we think about data, all we have to do is look around to see its power at work....
Economic Property Damages of Japan Earthquakes to Cost $2.5B-$3.5B: RMS
Apr 25 2016 // RMS, the Newark, Calif.-based catastrophe risk management firm, estimated that economic property damage for both the April 15 moment magnitude (Mw) 7.0 earthquake and April 14 Mw6.4 earthquake in Japan’s Kumamoto...
Key Florida Players to Highlight Importance of Catastrophe Reinsurance
Apr 25 2016 // Although the role of catastrophe reinsurance in a wind exposed region is intuitively obvious to an insurance professional and most insurer rating agencies, the need for transparency, education and open dialogue on this...
Verisk Opens Commercial Property Data to MGAs, Program Managers
Apr 15 2016 // Verisk Insurance Solutions said it is making its data for loss estimating of commercial properties available to managing general agents (MGA), managing general underwriters (MGU), and program administrators and others in...
How Italy’s Generali Is Connecting U.S. With Its Global Network
Apr 14 2016 // The U.S. branch of Generali’s Global Corporate & Commercial business unit has launched a property insurance product for U.S.-based multinational corporations. GC&C is a relative new kid on the block in...
Louisiana Insurance Chief: Claim Citizens Rebates During Tax Season
Apr 13 2016 // Louisiana’s top insurance regulator says Louisiana citizens who pay property insurance in the state may be entitled to more than $200 in insurance rebates dating back to 2012. All property insurance policyholders in...
Hamilton Underwriting Names Osorio as Head of Property Direct & Facultative
Apr 11 2016 // Hamilton Underwriting Ltd., the managing agency of Lloyd’s Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, announced today that Miles Osorio has been hired as head of Property Direct...
Commercial Insurers Moderated Rate Cuts Slightly in March: MarketScout
Apr 5 2016 // Commercial insurers eased up slightly on rate cutting in March, according to the MarketScout barometer for the month. After three straight months of price cuts averaging 4 percent, U.S. commercial property, inland marine,...
