Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
ACE USA Expands Coverage for Hospitals, Miscellaneous Healthcare Facilities
Jan 24 2013 // ACE USA’s Medical Risk & Life Sciences Division has introduced four new coverage endorsements: media event expense, disciplinary proceeding defense, emergency evacuation expense, and patient property damage. The...
Florida Looks to Restructure Its Hurricane Fund; Federal Option Proposed
Jan 18 2013 // Florida lawmakers are poised to consider restructuring the state-run property reinsurance facility by possibly lowering its mandatory annual capacity by billions due to concerns that one major storm could exhaust its...
Insurance Executives Say Ongoing Budget Battles Will Harm U.S. Economy
Jan 17 2013 // Leaders of the property/casualty insurance industry believe Washington’s ongoing budget fracas will have a negative impact on the U.S. economy, according to a survey conducted by the Insurance Information Institute...
N.J. Gov. Criticizes Some Oceanfront Property Owners Who Reject Sand Dunes
Jan 16 2013 // The New Jersey shore town of Bradley Beach came through Superstorm Sandy in better shape than many of its neighbors that sustained serious to catastrophic damage from the waves and storm surge.N.J. Gov. Chris Christie...
Latest Sandy Loss Estimates Reported by Companies
Jan 14 2013 // Since Superstorm Sandy slammed into the U.S. East Coast two and a half months ago, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are the latest...
List of Company-Specific Sandy-Related Loss Estimates
Jan 10 2013 // Since Superstorm Sandy slammed into the New Jersey coastline on Oct. 29, 2012, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are the latest...
After the Storm: Insurance Agents E&O Lessons Learned
Jan 8 2013 // More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. As parties find themselves without the coverage they expected after a catastrophe, it appears to be a...
XL Group Appoints Northeast Manager for North America Property Team
Jan 3 2013 // XL Group plc’s North America property business appointed Joseph Moylan as its Northeast regional manager. Based in New York, Moylan will serve property insurance clients throughout the Northeast. He reports to...
Even Without Big Storms, Florida Property Insurance Costs Rise
Jan 3 2013 // Marco Tarafa was stunned to find that his homeowners’ policy is increasing by nearly $1,000 a year —all because inspectors couldn’t get into his attic, where there was no crawl space and about 24 inches of...
10 Insurance Ins and Outs, Ups and Downs of Year of Dragon 2012
Jan 2 2013 // In Chinese astrology, the year 2012 was the Year of the Dragon, a symbol of unpredictability and uncertainty. The dragon represents mystery because its head and tail cannot be seen at the same time, according to Chinese...
Looking Back at Insurance News of 2012: The Year’s Biggest Stories
Dec 31 2012 // With less than a day left until the end of the year, here’s a look back at some of the biggest property/casualty insurance news stories in 2012 that impacted the Northeast region, in chronological order: Top Investor...
P/C Industry’s 9 Month Results Show Insurers Can Handle Sandy Losses: ISO, PCI
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011. Insurers’ overall profitability as...
Attorneys Discuss Liability Insurance Coverage for Sandy Litigation
Dec 21 2012 // Homeowners, businesses, and municipalities in the tri-state area continue to rebuild and rebound from Superstorm Sandy. Often, large-scale devastation and destruction are followed by lawsuits against individuals and...
Issuer Credit Ratings of Grinnell Mutual Reinsurance Co. Downgraded
Dec 20 2012 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of A (Excellent) of Grinnell Mutual Reinsurance Co. (Grinnell) and its...
People
Dec 17 2012 // Associated Agencies Inc., based in Rolling Meadows, Ill., has promoted Joshua Herz to president, making him the fourth person in the same family to hold the position. Herz succeeds his cousin, Max (Skip) R. Schrayer, who...
Best Affirms Russian Re’s ‘B+’ Ratings; Outlook Stable
Dec 14 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Russian Reinsurance Company JSC (Russian Re), both with...
Report Shows Increasing Concentrations of Insured Property Values in U.S.
Dec 13 2012 // Insured building values in the U.S. now exceed $40 trillion — including residential, commercial and industrial structures, according to a new report from catastrophe modeling firm Karen Clark & Co. When contents...
Deadline Nears to Claim 2008 Louisiana Citizens Assessment Rebate
Dec 10 2012 // Louisiana Insurance Commissioner Jim Donelon and Department of Revenue (LDR) Director of Customer Service Kent LaPlace are reminding property insurance policyholders that time is running out to claim a rebate for the...
$100K Deal Reached in Montana Over Lead-Contaminated Waste
Dec 10 2012 // The owner of a central Montana landfill has agreed to pay the U.S. government $100,000 to settle a civil action over 1,600 tons of earth containing unsafe levels of lead that sat untreated and unprotected for about four...
Aon Risk Solutions Hires 2 Execs for New England Property Practice
Dec 9 2012 // Aon Risk Solutions, the global risk management business of Aon plc, recently announced the additions of Christian Wise as senior vice president and Karen Cangemi as vice president of the company’s New England...
