Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Louisiana Citizens Property Insurance to Boost its Line of Credit to $125M
Aug 19 2013 // Louisiana’s property insurer of last resort received approval from state officials to bump up its bank line of credit, giving the company more resources to cover claim costs if the state is hit with a significant...
Insurance Without TRIA
Aug 19 2013 // If Congress fails to renew or makes significant changes to the federal terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce terrorism exposures. Also...
Report: More Reforms Needed for Flood, Wind Insurance Programs
Aug 15 2013 // A new report this week from the Union of Concerned Scientists, a watchdog group, warns that sea level rise and worsening storm surge are increasing both the risks of flooding in coastal communities and the potential for...
Incopero Joins The Plexus Groupe’s Property/Casualty Practice
Aug 15 2013 // The Plexus Groupe LLC, based in Deer Park, Ill., has added Debbi Incopero to its property/casualty insurance practice. As an account executive, Incopero will be responsible for maintaining and enhancing relationships with...
Insurers, Government Grapple with Costs of Growth in Wildland-Urban Interface
Aug 15 2013 // The summer of 2013 has been another severe fire season for the United States, a trend that has insurance companies bracing for a new normal: higher rates of property damage as Americans move to wildfire-prone areas in ever...
Property Losses Rose for U.S. Captives in 2012: A.M. Best
Aug 12 2013 // Captive insurance companies tightened margins and used capital more efficiently in 2012, according to research by ratings firm A.M. Best Co. Among A.M. Best’s captive composite, the loss and loss adjustment expense...
Cat Bonds, Sidecars Keeping Reinsurance Rates Low Says Guy Carpenter
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
Florida CFO: Why Aren’t Florida Property Rates Falling Along with Reinsurance?
Aug 9 2013 // Florida’s top financial officer is questioning regulators on why reports of significantly lower reinsurance costs worldwide are not translating into reduced premiums for homeowners around the state. Chief Financial...
Greenberg’s C.V. Starr in Group Buying Tokyo Building for $1B
Aug 7 2013 // A group including former U.S. insurance magnate Maurice “Hank” Greenberg and an Abu Dhabi sovereign fund have agreed to buy a prominent Tokyo office building for $1 billion, the biggest property deal in Japan...
Wells Fargo Insurance Launches Intellectual Property Financial Protection Products
Aug 5 2013 // Wells Fargo Insurance, part of Wells Fargo & Co. has launched two new insurance products from its Professional Risk Group, Intellectual Property Risk Mitigation Practice (IPRMP): revENSUREand ANDAfend. “Both...
CNA Introduces New Package Policy For Mid-Sized Businesses
Aug 5 2013 // CNA has launched CNA Paramount, a new package policy for mid-sized businesses that combines property and general liability coverage. CNA Paramount brings all the basic and critical property and crime coverage needs into...
Mississippi High Court Upholds Fire Protection Fee
Aug 5 2013 // The Mississippi Supreme Court has upheld a ruling that the Diamondhead Fire Protection District can charge a fee for its services to local property owners. Hancock County Circuit Judge Roger Clark ruled last year that the...
Insurance Journal’s New and Improved Top 100 Independent Property/Casualty Agencies Report
Aug 5 2013 // Welcome to Insurance Journal‘s new and improved Top 100 Independent Property/Casualty Agencies report. This year’s Top 100 features a number of agencies that are new to the list thanks to a change that ranks...
AIG Reports 17% Increase in Profit; Issues First Dividend Since 2008
Aug 2 2013 // American International Group Inc. announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 percent after the bell. The insurer, which was almost wiped out by...
P/C Industry Faces Challenges If Terrorism Coverage Not Renewed: Fitch
Aug 1 2013 // If Congress fails to renew or makes significant changes to the federal government’s terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
Hartford’s Q2 Loss Widens to $190M; P/C Earnings Show Improvement
Jul 30 2013 // The Hartford Financial Services Group reported a net loss of $190 million for the 2013 second quarter. The quarterly loss widened compared to the same time a year ago, when the insurer reported a net loss of $101...
Mississippi School Districts Shocked By Property Insurance Hikes; Cat Losses Cited
Jul 30 2013 // Property insurance premiums have skyrocketed for Pine Belt school districts. Some have had problems just finding a company to insure them. Lamar County School District Superintendent Ben Burnett told the Hattiesburg...
New Jersey Flood Victims Face Difficult Buyout Decision
Jul 29 2013 // Bob and Pat Smith have seen many floods in their 47 years on Water Street, but none as severe as in Superstorm Sandy. Last year’s storm waters rose halfway up their front door and left a debris field of mud and mold...
Louisiana Parish not Responsible for Property Lost in Hurricane Fire
Jul 26 2013 // Jefferson Parish in Louisiana cannot be made to pay for belongings lost in a rented house that burned down at the height of Hurricane Gustav while the sheriff tried to put out the fire with a garden hose, a judge has...
