property insurance News

Sompo Int’l Hires Generali’s Brown to Lead New London & International Property Team

Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced the appointment of Richard Brown to lead a new team focusing on property business through retail distribution channels in the UK, Europe and selected …

First Cap Writing Calif Admitted Dwelling Fire Program as Alternative to FAIR Plan.

San Diego, CA First Cap Property Insurance Solutions has announced a new admitted Dwelling Fire program for California residential risks. The program is designed to be an alternative to the California FAIR Plan. The new program is a resource for …

How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment

While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may be auspicious. Had the outbreak struck …

St. Paul Businesses Burned in Floyd Upheaval Weigh Next Steps

Charred piles of rubble remain in the Midway neighborhood in St. Paul, Minn., where rioters torched businesses following the death of George Floyd in Minneapolis. Buildings that were set on fire have been razed by the city using emergency funds. …

Losses From Civil Protests May Cause Insurers to Rethink Property Coverage

The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy renewals and could even persuade some insurers …

California Bill Aimed at Property Insurance in Communities Investing in Wildfire Prevention

Assemblyman Marc Levine, D-Marin County, has introduced Assembly Bill 3258, which would require property insurance providers to take into consideration local government investments in wildfire prevention when determining insurance rates. California Insurance Commissioner Ricardo Lara and a group of Legislators …

California Worries About Drought and Wildfires Amid Dry Winter

California officials are bracing for the potential of another drought and an early and more intense wildfire season amid a record-breaking warm and dry February. February is shaping up to be driest on record for much of the state, with …

Oregon Wrestles With Building Facilities in Tsunami Zones

Experts say the big one is coming to the Pacific Northwest: a massive earthquake that will cause buildings and bridges to collapse and unleash a tsunami that will devastate the coast. But, doubling down on its decision last year to …

Fire Destroys 4 Businesses in Busy South Dakota Town

Four downtown businesses in a small southwestern South Dakota community have been lost in a fire, according to the city’s mayor. The Vault restaurant, China Buffet, the Quilt Shop and an ice cream shop were burned in the massive fire …

Storm, Floods Cause Damage at Washington’s Mount Rainier National Park

Mount Rainier National Park was hit by flooding and landslides that closed all roads to the park and damaged roads, trails and buildings. The damage throughout the park is expected to be revealed as extensive as floodwaters recede and snow …