Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Texas Adopts Rules for Residential Property Dec Pages, TWIA Premium Surcharge
Feb 26 2016 // The Texas Department of Insurance reported it has adopted rules pertaining to property insurance changes resulting from legislation passed in 2013 and 2015. Residential Property Declarations Page The new rules include...
5 North Carolinian’s Accused of Staged Accident Ring
Feb 25 2016 // North Carolina Insurance Commissioner Wayne Goodwin announced the arrests of five Wilmington women in connection with an alleged staged auto accident ring. Investigators allege that over the course of three separate...
President of USAA Property and Casualty Insurance Group to Retire
Feb 25 2016 // Alan Krapf, president of San Antonio-based USAA Property and Casualty Insurance Group, has announced his intention to retire. USAA has begun the process of identifying internal and external candidates for the role. Once a...
Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P
Feb 22 2016 // Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services,...
Demotech Affirms Ratings of Midwest Public Entity Pools
Feb 17 2016 // Ohio-based Demotech Inc. recently affirmed the financial stability ratings (FSRs) assigned to six self-funded public entity pools in the Midwest. Demotech reviews and rates more than 415 insurers, writing every line of...
AIG Reports $1.8 Billion Q4 Net Loss on Weak Underwriting, Investments
Feb 12 2016 // American International Group Inc. reported an operating loss of $1.3 billion for the fourth quarter of 2015, compared to after-tax operating income of $1.4 billion in the prior-year quarter. Disappointing underwriting and...
Florida Fights Back Against Assignment of Benefits Abuse
Feb 8 2016 // Florida insurers, consumer and insurance advocates, as well as regulators, are hoping 2016 may finally be the year that legislators address the misuse of assignment of benefits (AOB) for water loss claims that they say has...
Texas Supreme Court: Loss-of-Use Damages Allowed in Total Loss Cases
Feb 8 2016 // Are loss-of-use damages, such as lost profits, allowed in Texas when an insured has recovered fair market value on a commercial vehicle that is deemed a total loss after an accident? The Texas Supreme Court thinks so,...
Record Western Wildfires a Contrast in Otherwise Quiet Year for U.S. Natural Disasters
Feb 8 2016 // It was a relatively quiet year for natural disasters – except for those living in the Western United States, according to property data provider CoreLogic, in its annual Natural Hazard Risk Summary and Analysis, released...
Ghost of 2008 Crash Still Haunts Real Estate E&O
Feb 8 2016 // The ghost of the 2008 financial collapse still haunts the liability insurance market for real estate professionals and some are worried the business may be headed for a replay of that crisis. While it is still recovering...
P/C Commercial Rates Fell 4% in January
Feb 5 2016 // Rates for commercial property/casualty insurance fell four percent in the first month of the new year, continuing a downward trend that is unlikely to halt anytime soon, according to Richard Kerr, CEO of...
Insured Property Loss from UK Storms Eva & Frank Estimated at $767.7M: PERILS
Feb 5 2016 // The initial estimate of the insured property market loss for UK flood damage during the period from Dec. 25, 2015 to Jan. 14, is £526 million ($767.7 million), according to PERILS, the independent Zurich-based...
The Right Property Data Helps Better Serve Consumers
Feb 3 2016 // This post is part of a series sponsored by CoreLogic. Why doesn’t the carrier already have property data on this home? Is this quote accurate or will I have to go back to the homeowner with a revision? Every agent...
Oklahoma Lawmaker: Small Businesses Back Asset Forfeiture Reform
Feb 3 2016 // An Oklahoma state lawmaker has filed a bill that would reform Oklahoma’s civil asset forfeiture law, an effort he says is supported by small businesses in the state. In May 2015, Sen. Kyle D. Loveless (R-Oklahoma...
Multi-Year Trend of Reduced Natural Hazard Activity Continues in 2015
Feb 1 2016 // This post is part of a series sponsored by CoreLogic. Low-Level Hazard Activity Results in Decreased Damage and Loss Totals Looking at the big picture, 2015 was a quiet year in terms of natural hazard activity. Overall,...
California Regulator Looks to Open the FAIR Plan’s Floodgates
Jan 28 2016 // In those periods of respite when the State of California is not rocking and rolling atop its various fault lines, it’s often quite literally on fire. In fact, of the top 10 costliest wildfires in U.S. history,...
Record Western Wildfires a Contrast in Otherwise Quiet Year for U.S. Natural Disasters
Jan 28 2016 // It was a relatively quiet year for natural disasters – except for those living in the Western U.S. Property data provider CoreLogic today released its annual Natural Hazard Risk Summary and Analysis. The report shows...
AIG CEO Says Future Split Possible, But Downplays SIFI Risk; Will ‘Narrow’ P/C Focus
Jan 26 2016 // American International Group (AIG) CEO Peter Hancock, who announced the sale of the company’s AIG Advisor Group and a partial (19 percent) spin-off of mortgage insurer United Guaranty Corp., said AIG is open to...
New Jersey’s Residual Property Insurance Plan Raises Rates
Jan 25 2016 // The New Jersey Insurance Underwriting Association (NJIUA), the state’s residual property insurance plan, has received approval from the Department of Banking and Insurance (DOBI) to implement an overall rate increase...
Property Crimes Down, Violent Crime Up: FBI
Jan 22 2016 // The overall number of property crimes declined in the U.S. while the number of violent crimes rose for the first six months of 2015 compared to 2014. The FBI report — Preliminary Semiannual Uniform Crime Report— is...
