Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
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,...
Violent Weather Pummels Texas in March; Regulators Call for Data on Claims, Lawsuits
Apr 4 2016 // Hail-packing thunderstorms pummeled North Texas twice in March causing hundreds of thousands of dollars in damage to automobiles and property. Meanwhile, the Texas Department of Insurance is intent on gathering data on...
6 North Carolina Residents Accused of Staging Car Accident
Apr 1 2016 // Four North Carolina individuals have been arrested in connection with an alleged staged auto accident, according to North Carolina Insurance Commissioner Wayne Goodwin. Investigators are still seeking two other suspects in...
Chubb Appoints P&C Risk Engineering Leadership Team in Asia Pacific
Mar 28 2016 // Chubb has appointed Darren Cantas its head of Risk Engineering for Property and Casualty in Asia Pacific. He will continue to lead the region’s P&C Risk Engineering Services team, comprising 32 risk engineers...
PERILS Raises Insured Property Loss Estimate for UK Storms Eva & Frank to £578M
Mar 24 2016 // Property insurance market losses from flooding brought by UK storms Eva and Frank have risen to £578 million ($818.9 million), compared to an initial loss estimate of £526 million ($745.2 million), according to PERILS,...
Universal Property & Casualty’s Expansion Continues With License in N.Y.
Mar 24 2016 // Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) has been approved by the New...
Texas Seeks Data on Weather-Related Property Claims, Lawsuits
Mar 23 2016 // The Senate Business and Commerce and the House Insurance Committees of the Texas Legislature have requested data from the Texas Department of Insurance related to weather-related property claims, the incidence of lawsuits...
