Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Flood, Flood or Flood! Who Responds: AAIS, ISO or NFIP? – Part III
May 13 2015 // Part III AAIS’s Flood Coverage Endorsement “Flood” becomes a covered cause of loss by attachment of AAIS’s Flood Endorsement CO 1223 (The Flood Endorsement specifically designed for the COP XL is...
WKFC Launches Property Program for $500 Million TIV Risks
May 11 2015 // WKFC Underwriting Managers, a part of RSG Underwriting Managers, has launched a new property program for risks up to $500 million in total insured value (TIV).The program is written on A-XI rated paper and is available in...
Hawaii Residents Awarded More Than $500K in Dust Lawsuit By Jury
May 11 2015 // A federal court jury has awarded more than $500,000 to 15 Kauai residents who say they can’t enjoy their homes because of red dust from test fields operated by DuPont Pioneer. The seven-member jury on Friday awarded...
MSIG at Lloyd’s Appoints Wells, Radbourne in Property and Power Teams
May 8 2015 // MSIG at Lloyd’s has appointed Laura Wells as underwriter, property, and Matthew Radbourne as underwriter, power & utilities with immediate effect. Wells brings over 20 years’ industry experience to MSIG,...
Hannover Re’s Q1 Net Income Increases 20.1% to $311.8 Million
May 6 2015 // During the first quarter, Hannover Re generated net income of 279.7 million euros ($311.8 million), a 20.1 percent increase over the 233.0 million euros ($260 million) reported for the same period last year. “The...
Industry Representatives Examine Potential Claims Issues Following Riots
May 6 2015 // Some 140 vehicle fires, more than a dozen structural fires and nearly 200 arrests were reported in wake of the Baltimore riots that shook the city last week. And more than 200 businesses were damaged during the riots,...
Flood, Flood or Flood? – Part II
May 6 2015 // In case you missed it (and don’t want to begin in the middle of the conversation), here is the link to Part I. Part II AAIS’s COP and COP XL Coverage Forms AAIS’s COP and COP XL are designed and intended...
Verisk Expands Wildfire Risk Service to 3 More States
May 5 2015 // Verisk Insurance Solutions has added Montana, Oklahoma and Wyoming to its FireLine wildfire risk management service. FireLine provides information to insurers to analyze wildfire risk at the individual address...
Ironshore to Raise Capacity Limits to $50M for Builder’s Risk Property Products
May 5 2015 // Bermuda-based Ironshore Inc. announced its global property division will raise capacity limits for builder’s risk products to $50 million, an increase from the current $35 million limit, effective...
Louisiana’s Eagan Insurance: Carrying on a Family Tradition
May 5 2015 // Marc Eagan says he’s fortunate that his four children grew up in and around the insurance business. For Eagan, president of Eagan Insurance Agency located in the New Orleans-area, it means his firm is well-situated...
IFG Cos. Names Denton Executive Managing Director in California
May 4 2015 // IFG Cos. has named Michael R. Denton executive managing director in property. He is based in IFG’s Irvine, Calif. office. Denton assumes responsibility for leading and managing the brokerage property division,...
‘Hungry’ Insurers Continued to Cut Commercial Prices in Q1: CIAB
May 4 2015 // Insurance brokers report that the commercial property/casualty market continued to soften in the first quarter of 2015, with large accounts seeing the biggest price declines. On average, small, medium and large accounts...
Property Claim Litigation Bill Passed by the Texas Senate
May 1 2015 // The Texas Senate on April 30 passed a bill aimed at stemming the onslaught of property claim litigation that has been occurring with increasing frequency in the state following natural catastrophes. Advocates of Senate...
AIG’s Commercial Lines Improves in Q1
May 1 2015 // American International Group Inc.’s reported good news in its commercial lines business during the first quarter that was partially offset by low interest rates and weak investment returns. AIG on Thursday reported...
Validus Reports $173.4M Q1 Net Income, Up From $162.4M in Q1 2014
May 1 2015 // Bermuda-based Validus Holdings Ltd. reported net income available to Validus of $173.4 million, or $1.98 per diluted common share, for the three months ended March 31, 2015, compared to $162.4 million, or $1.66 per diluted...
Flood, Flood, or Flood: What is Really Meant When a ‘Flood’ Loss is Reported? – Part I
Apr 29 2015 // Part I “We’ve had a flood,” says the commercial insured. “Oh, no!” the agent says as he quickly reviews the file documentation to confirm whether flood coverage was even offered. Then the key...
‘Hungry’ Insurers Continued to Cut Commercial Prices in Q1: CIAB
Apr 23 2015 // Insurance brokers report that the commercial property/casualty market continued to soften in the first quarter of 2015, with large accounts seeing the biggest price declines. On average, small, medium and large accounts...
How to Manage Risk of Valuable Properties Concentrated in Coastal Areas
Apr 21 2015 // U.S insured property values as of 2014 exceed $90 trillion, but the bulk of that is increasingly concentrated in vulnerable coastal areas. With that in mind, new risk metrics could better help monitor exposures, Karen...
ACE Expands Liability Coverage for Assisted Living, Long Term Care Facilities
Apr 21 2015 // ACE Group has introduced four new medical liability coverage endorsements, designed to provide more comprehensive protection to the expanding long term care healthcare sector. The new endorsements include: media event...
Texas’ Residual Property Insurance Markets Hit with Severe Weather Claims
Apr 20 2015 // The Texas Windstorm Insurance Association (TWIA) and Texas FAIR Plan Association (TFPA) began responding to policyholders impacted by the severe weather that affected a number of Texas communities last week and over the...
