Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Declarations
Dec 5 2011 // A Rebounding Market “This reduction in market share of Citizens is a great indicator that the homeowners insurance market as well as the commercial property insurance market in Louisiana is rebounding from the severe...
Property Insurance Rates on the Rise: Marsh
Dec 2 2011 // Nearly half of the U.S. property insurance policies renewed in the current quarter have been at higher prices, brokerage Marsh said on Friday, adding fuel to an industry turnaround after years of declining rates. Marsh...
Aon Introduces Tenant Rent Default Coverage
Dec 1 2011 // Aon has partnered with QBE Insurance Group to offer a product that will reimburse U.S. landlords for lost incomes when tenants default on rent payments. “Rent default coverage has been sold overseas for years, but...
Insurers Boost California’s Economy by $34.7 Billion
Nov 29 2011 // California’s a $1.9 trillion economy gets a multi-billion dollar boost from the property/casualty insurance industry, according to a report from the Insurance Information Institute issued Tuesday. In 2009, insurers...
Catastrophe Property Market Under Pressure: NAPCO
Nov 21 2011 // The catastrophe property market seems to be moving away from soft market pricing conditions, but weak insurance demand and too much capacity is limiting insurers’ pricing power, a new report says. “The industry...
Florida’s Scott Wants Ideas from Citizens by Dec. 6
Nov 21 2011 // Gov. Rick Scott wants the state-backed Citizens Property Insurance Corp. to recommend ways to shore up the troubled insurer. Scott, who prefers the insurer be sold to a private company, wants answers from the...
Wisconsin Trespasser Liability Bill
Nov 21 2011 // The Republican-controlled Wisconsin Legislature has passed a bill that would reduce property owners’ liability for a trespasser’s injuries or death. The Assembly passed the measure 80-15 on Nov. 3. The state...
Property Catastrophe Market to See Price Hikes: Lockton
Nov 17 2011 // Large catastrophe losses and the prospect of poor investment returns are paving the way for much tougher market conditions for commercial property insurance buyers, according to a new report The new report — the Lockton...
Torus Strengthens European P&C Platforms with New Appointments
Nov 17 2011 // Torus Insurance announced that it has “enhanced its offering in Europe with the appointment of Brian Byrnes as Senior Underwriter for General Property and Marco Sonntag as Senior Underwriter for Casualty.” They...
American Claims Management Appointed Westra as Vice President of Property Claims
Nov 15 2011 // San Diego, CA, 11/15/11 – American Claims Management, Inc. (ACM), has appointed Pier Westra as vice president of its Property Claims Division. Effective November 14, 2011, Westra will oversee all of ACM’s East...
Liberty International Underwriters Expands E&S Property Operations to West Coast
Nov 9 2011 // Liberty International Underwriters (LIU), the global specialty lines division of Liberty Mutual Group, has opened an excess and surplus (E&S) property operation in Los Angeles to better serve the West Coast wholesale...
Alleghany Posts $19.2M Q3 Profit, Down 48% From Last Year
Nov 8 2011 // Alleghany Corp. reported $19.2 million in third-quarter net earnings, down 48 percent from one year ago when the company had $36.6 million in earnings. The company’s result reflects the decrease in pre-tax net...
Wisconsin Trespasser Liability Goes to Governor
Nov 7 2011 // The Republican-controlled Wisconsin Legislature has passed a bill that would reduce property owners’ liability for a trespasser’s injuries or death. The Assembly passed the measure 80-15 on Nov. 3. The state...
Rental Properties Offer a Lucrative Niche for Insurance
Nov 7 2011 // Dark clouds continue to hang over the U.S. housing market with prices still well below their peak and foreclosures high in many parts of the country. But there is a silver lining — great bargains on rental properties....
The Demotech Company Classification System Reveals State Specialist Property/Casualty Insurers
Nov 7 2011 // Company Name State of Speciality 2010 TOTAL DPW Texas Mutual Insurance Co. TX 596,191 Old American County Mutual Fire Insurance Co. TX 575,100 SAIF Corporation OR 327,373 St. Johns Insurance Co. Inc. FL 257,106 Brickstreet...
A Protection Incentive
Nov 7 2011 // In a year in which natural disasters have dominated the news and have strongly — and negatively — influenced insurance companies’ bottom lines, insurers, industries and governments may want to take notice of an...
Disaster Innovation
Nov 7 2011 // This issue has reports on innovation in insurance and where entrepreneurs find their inspiration. The presenters at this year’s Entrepreneurial Insurance Symposium said they are inspired by their own experiences,...
People
Nov 7 2011 // Jim Donelon has been re-elected commissioner at the Louisiana Department of Insurance. Donelon, a Republican from Metairie, on Oct. 22 defeated Democrat Donald Hodge. Donelon has been insurance commissioner since...
P/C Market to See Only Moderate Changes in Rates in 2012: Willis
Nov 4 2011 // Property/casualty insurance rates will continue to be flat to with some slight increases or decreases in most major and specialty lines of insurance. Some exceptions to that trend include catastrophe-exposed property...
Lockton Adds Technology Property Risk Control Consultant in San Jose
Nov 3 2011 // Duane Caldwell was added to Lockton’s technology-focused team in San Jose, Calif. as a property risk control consultant. Caldwell will take a lead in expanding Kansas City, Mo.based-Lockton’s presence in the...
