Commercial property insurance News

North Carolina Appeals Court Won’t Budge on Intrepid Insurance Name Mix-up

What’s in a name? Enough confusion to sink a subrogation lawsuit and appeal brought by the insurer for a burned-up Hardee’s restaurant, the North Carolina Court of Appeals said Wednesday. “…The trial court properly determined that Intrepid Agency lacked standing …

California OKs Increase in FAIR Plan Commercial Property Coverage Limits

California Insurance Commissioner Ricardo Lara approved a filing from the California FAIR Plan Association to increase commercial property coverage limits. Related: New Fire Maps Put Nearly 4M Californians in Hazardous Zones The approval increases the FAIR Plan’s Division I Commercial …

Pawtucket Dismantled Iconic Apex Pyramid Building. Here’s Why.

Earlier this month wind damaged the iconic Apex pyramid building in Pawtucket Rhode Island prominently visible from Interstate 95. Now, the city of Pawtucket has removed the remaining exterior panels of the iconic structure, leaving only the skeletal frame. Removal …

Multiple Deaths, Damage in South, Midwest From Winds, Tornadoes

Violent tornadoes ripped through parts of the U.S., wiping out schools and toppling semitractor-trailers in several states, part of a monster storm Friday and Saturday that has killed at least 32 people. The number of fatalities increased after the Kansas …

Man Torches Tesla Chargers in South Carolina But Catches His Clothes on Fire

NORTH CHARLESTON, S.C. (AP) — A man burned three Tesla chargers in a South Carolina parking lot and also apparently inadvertently set his clothes on fire, police said. The man spray-painted “long live the Ukraine” and a crude reference to …

Woman Pleads Guilty to Federal Charge in Plot to Sell Elvis’ Graceland Home

A Missouri woman pleaded guilty Tuesday to a federal charge accusing her of concocting a brazen plot to defraud Elvis Presley’s family by trying to auction off his Graceland mansion and property before a judge halted the mysterious foreclosure sale. …

One Dead, Two Hurt After Tyson Foods Plant Fire in Georgia

ATLANTA (AP) — A woman died and two other people were hospitalized with injuries after a fire at a Tyson Foods plant in southwest Georgia, state officials said Friday. A wall fell on the cab of an 18-wheel truck parked …

Fire Engulfs Section of Popular Manhattan Outdoor Market

An outdoor holiday market in New York City’s Bryant Park briefly caught fire last Friday morning, sending flames and plumes of smoke above the popular midtown Manhattan tourist draw as firefighters rushed to put out the blaze. No one was …

JPMorgan Bolsters Florida Bet With 300 New Jobs in Orlando

JPMorgan Chase & Co. plans to hire 300 people in the Orlando area over the next two years, part of the largest US bank’s expansion in the South. The firm will renovate its 250,000-square-foot (23,226-square-meter) campus in central Florida, which …

Billionaire Tom Steyer’s Commercial Real Estate Lead Says ‘Watch Insurance Risk’

Joseph Sumberg, a former managing director at Goldman Sachs Group Inc. who now works for billionaire climate investor Tom Steyer, says commercial real estate deals will increasingly need to price in rising insurance costs, as hurricane seasons get more destructive …