property insurance News

Brit Names Walker from Marsh as Head of UK Property

Brit Ltd. announced it has appointed Neil Walker as head of UK Property. In this role, Walker reports to Tom Hillier, divisional director, Specialist Liability. Walker brings over 20 years’ of experience in the broking industry with a focus on …

Fire Damages, Destroys 5 Texas School Buses, Foul Play Not Suspected

Investigators are trying to determine what sparked a fire that damaged or destroyed five Texas school buses parked in a transportation lot during spring break. A statement from the Coldspring-Oakhurst Independent School District says authorities do not suspect foul play …

Markel International Ceases Writing London Open Market Property Business

Markel International, the London-based specialist insurance subsidiary of Markel Corp., will cease to write London open market property business with immediate effect. The development has no impact or implications for Markel Corp.’s U.S. and Bermuda property businesses which, for reasons …

Commercial Insurance Prices Rise in Q4 2017, Reversing 4½ Years of Rate Cuts: Marsh

Average global insurance pricing in the fourth quarter of 2017 increased for the first time since Q1 2013, driven largely by global property insurance pricing following the third quarter’s large catastrophe losses, according to Marsh’s latest Market Index report. The …

Chubb Appoints Church as Head of International Property

Chubb announced the appointment of Brian Church as executive vice president and head of International Property for Chubb’s Overseas General business, effective Jan. 1, 2018. In this role, Church will have responsibility for all of Chubb’s retail commercial property insurance …

Lockton Taps Davies from JLT as SVP, Property, in Bermuda

Lockton, the world’s largest privately held insurance broker, has appointed Gareth Davies as senior vice president, Property, in Bermuda. He will focus on growing the business, particularly in the property area, in a market that could be difficult over the …

Lloyd’s Broker AFL Creates Property Practice, Led by Crouch from Lockton

Lloyd’s broker AFL Insurance Brokers Ltd (AFL) announced the appointment of Neil Crouch to lead its new wholesale property practice. Previously head of broking at Lockton, Crouch will pioneer the company’s expansion in the property market, initially focusing on North …

Texas Peach Crops Affected by Mild Winter

Experts say the mild Texas winter hampered this year’s peach crop in parts of the state. The North Texas harvest appears to be bountiful, but growers in some other areas of the state faced challenges, the Fort Worth Star-Telegram reported. …

XL Catlin Raises Global Property Capacity by 25% to $500 Million

XL Catlin has raised its global property insurance capacity by 25 percent to US$500 million, which is available on a quota share or layered basis,. With this capacity increase, the company said it will better address clients’ global and domestic …

Insurance to Pay for up to $57M in Damage to Washington Waste Treatment Plant

An analysis says equipment failures caused between $49 million and $57 million of damage at the Washington’s largest sewage treatment plant. KING-TV reported the analysis was released related to damage at the West Point Wastewater Treatment Plant in Seattle. The …