Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Align Financial Forms Catalytic, Acquires Western RE Stock
Jan 9 2014 // San Diego, Calif.-based Align Financial Group LLC. has formed Catalytic Holdings LLC, a specialist property catastrophe underwriting manager, and Catalytic has acquired the property catastrophe business of Align General...
With Snow Comes Snowplow Damage, Some in Pennsylvania Find
Jan 3 2014 // Winter can be tough, especially on private property, and no one knows that better than Stroud Township, Pennsylvania, resident Pamela Wnuk. She says her property sustained damage after a municipal snowplow driver tore...
In Shickshinny, Penn., Flood-Buyout Program to Continue Through 2014
Jan 2 2014 // Donald Hargraves is flooded with nostalgia when he drives past the Shickshinny, Penn., home he owned for more than five decades but doesn’t regret recently selling the property in a flood-buyout program. “I...
Reinsurance Rates Down by 11% for January Renewals: Guy Carpenter Survey
Dec 30 2013 // Guy Carpenter & Co. has reported that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. The reinsurance broker’s global renewal report pointed to “strong...
P/C Insurers Boost Bottom Line on Big Gain in Underwriting Through 9 Months
Dec 23 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their...
United Property & Casualty Approved to Write in Georgia
Dec 20 2013 // The Georgia Department of Insurance has approved United Property & Casualty Insurance Co. (UPC) to write property/casualty insurance in the state as an admitted carrier. This brings the total number of states in the...
Best Affirms CNA Financial and Subs’ Ratings; Outlook Stable
Dec 20 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of CNA Financial Corporation (CNAF),...
Florida Lawmakers Unveil Plan to Encourage Private Market for Flood Insurance
Dec 19 2013 // With the chances of a federal solution to rising flood insurance rates waning by the day, Florida lawmakers are pressing forward with a bill to create a private market solution to the problem. Florida State Senator Jeff...
Surplus of Capital Continues to Temper Property Rates: Marsh
Dec 19 2013 // The surplus of capital among insurers and reinsurers continued to have an overall softening effect in the U.S. property insurance market through the third quarter of 2013, Marsh said in a report. For the first nine months...
Deadline to Claim 2009 Louisiana Citizens Insurance Rebates Near
Dec 12 2013 // Louisiana Insurance Commissioner Jim Donelon is reminding property insurance policyholders that the clock is ticking on the deadline to claim a rebate for the Citizens Property Insurance Corporation (Citizens)...
Florida Officials Select Meeks as Citizens Property Insurance’s Inspector General
Dec 11 2013 // Florida Gov. Rick Scott and members of the Florida Cabinet announced Bruce Meeks has been selected to fill the newly created post of inspector general for Citizens Property Insurance Corp., the state’s largest...
Some Flood Insurance Rates to Rise in Kansas’ Douglas County
Dec 6 2013 // Some property owners in Douglas County, Kansas, could soon pay more for federal insurance. The federal government’s decision to phase out subsidized insurance in special flood hazard areas will increase costs for 168...
With Focus on Property Crimes and Violence, Dallas Police Write Fewer Traffic Tickets
Dec 5 2013 // Police in Dallas have issued 37,000 fewer traffic tickets as the force puts more resources toward fighting property crimes and violent offenses. Officers wrote more than 211,800 tickets in the fiscal year ending Sept. 30,...
Marsh & McLennan Agency Acquires Michigan’s Cambridge Property & Casualty
Dec 3 2013 // Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., announced the acquisition of Cambridge Property & Casualty, based in based in Livonia, Mich., Founded in 1974, Cambridge provides...
Texas Regulators Post Summaries of Property/Casualty Insurance Bills for 2013
Dec 3 2013 // The Texas Department of Insurance has posted information and brief summaries of selected bills enacted during the 83rd Legislative regular session that relate to property/casualty insurance. The bills listed may require...
Abrahams joins ANV Syndicate 1861 to Head Property Underwriting Group
Dec 2 2013 // ANV Holdings BV, the Dutch headquartered specialty insurance business founded by R. Matthew Fairfield, announced that Mark Abrahams has joined the firm to lead its Property Underwriting team for ANV Syndicate 1861. He has...
2013 State Specialist P/C Insurers Revealed
Nov 18 2013 // State Specialists are often an independent agent’s most reliable and consistent market. These companies are focused on a specific geographic area, understand it and consistently strive to serve it. The Demotech...
Tupelo, Mississippi’s New Residents Could Face Double Charges for Fire Services
Nov 13 2013 // City residents annexed by Tupelo, Miss., in 2012 may see two charges for fire protection when they open their tax bills in less than a month. Property owners living in seven of the 17 volunteer fire departments in Lee...
R-T Specialty Appoints Senior VP for Property Division in New York
Nov 8 2013 // R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group based in Chicago, announced the appointment of Meredith Dyson as a senior vice president for its property division. She is based in R-T Specialty’s...
New Deputy Insurance Commissioners Appointed in Louisiana
Nov 8 2013 // Louisiana Commissioner of Insurance Jim Donelon announced that Executive Counsel Warren Byrd has been appointed to the position of deputy commissioner of the Office of Property and Casualty in the Louisiana Department of...
