Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Marsh Agrees: Soft Pricing Persisted Despite Catastrophe Losses in Q1
Apr 27 2011 // Catastrophe losses approached record levels in the first quarter but despite this commercial property/casualty insurance rate increases were confined to loss-affected exposures. In regions and for classes of business not...
Crump Hires Landry in Cincinnati, Expands National Property Practice
Apr 26 2011 // John Landry has joined Crump Insurance Services Inc.’s (Crump P&C) national property practice as senior vice president in Cincinnati, Ohio. This hire is part of Crump’s strategic plan to increase the depth...
Beazley Remains Confident, Despite Q1 Catastrophes
Apr 25 2011 // The first quarter of 2011 reminded the insurance industry of just how unpredictable natural catastrophes can be. Beazley plc, which is headquartered in Dublin, but whose main activities, are in the Lloyd’s market,...
The Hartford Introduces Marine Policy For Modern Warehouse Logistics Operations
Apr 22 2011 // The Hartford Financial Services Group, Inc. has introduced a marine policy designed specifically for modern warehouse logistics operations involved in the transport and storage of their customers’ property. The...
Ohio Non-Insured Property Exclusion Case Sent Back to Lower Court
Apr 20 2011 // The Supreme Court of Ohio has ruled that a trial court must reconsider arguments in a lawsuit over an exclusion in a homeowners’ insurance policy that bars coverage for claims “arising out of” premises...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
Florida Journalist Wins Pulitzer for Property Insurance Report
Apr 20 2011 // In the thick of her two-year investigation into Florida’s insurance industry, Sarasota Herald-Tribune reporter Paige St. John would wake up in the middle of the night, shaking and sweating, fearful that she’d...
Golden Eagle Expands Small Business BOP Product
Apr 18 2011 // Golden Eagle Insurance, a Liberty Mutual Agency Corp. regional company, has expanded its small commercial appetite with the addition of more than 60 business classes to its Commercial Protector BOP product. The majority of...
How Health Reform Will Affect Workers’ Comp, Liability Insurance
Apr 12 2011 // The federal health reform enacted last year will bring short- and long-term challenges to employers and the property/casualty insurance industry. According to Harry Shuford, chief economist for the insurance...
A.M. Best Revises Outlook for The Hartford
Apr 12 2011 // A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of “bbb+” of The Hartford Financial Services Group, Inc. A.M. Best also has affirmed the financial...
Tennessee’s Opry Mills to Reopen; Suit Against Flood Insurers Goes On
Apr 12 2011 // Nearly one year after a historic flood ravaged Nashville and submerged the popular Opry Mill shopping mall, the mall said it will reopen in 2012. This will happen despite the fact the property owner, Simon Property, is...
Commercial Insurance Pricing Cuts Slowed in March
Apr 6 2011 // Commercial insurers moderated their rate reductions in March, and coastal property accounts actually saw increases, the latest insurance pricing survey shows. According to the report from online exchange MarketScout, the...
People
Apr 4 2011 // Ohio-based Westfield Insurance promoted Joseph C. Kohmann to group finance leader (CFO) and treasurer. He replaces Robert Krisowaty, who retires with more than 10 years of service. In July 2010 Kohmann assumed the position...
Business Income: It’s Really Easy
Apr 4 2011 // Few insurance coverages illicit such fear or visceral reaction as does business income coverage (aka time element). Without being too glib, business income concepts are actually simple to understand and explain to your...
Florida Lawmakers Advance Plan to Shrink State Insurer Citizens
Apr 1 2011 // Florida lawmakers have approved a plan designed to move more property owners into the private insurance market by restricting what properties the state-backed insurer can cover and allowing it to raise its rates. By a vote...
Shake-Up at AIG’s Chartis; Moor Out, Hancock In as CEO
Mar 31 2011 // American International Group, Inc. (AIG) today announced a reorganization of Chartis, its global property/casualty business, and named a new management team, including a new chief executive officer, Peter D. Hancock,...
Louisiana Citizens Property Insurance Corp. Rates to Rise July 1
Mar 21 2011 // The governing board of Louisiana’s insurer of last resort has approved an average 6.5 percent annual rate increase for its 119,000 homeowners’ policies. Higher rates for those homeowners covered by Louisiana...
High-Risk Properties Require Higher Level of Care
Mar 21 2011 // High-risk property is a location that is inherently dangerous due to the nature of its operations or that is exposed to powerful forces of nature such as hurricanes, earthquakes, and floods. Insuring against these...
Alterra at Lloyd’s Appoints Abrahams Sr. Property Underwriter
Mar 21 2011 // Bermuda-based Alterra Capital Holdings Limited has announced the appointment of Mark Abrahams as Property Insurance Underwriting Manager for Syndicate 1400 at Alterra at Lloyd’s Limited. He has more than 15 years of...
People
Mar 21 2011 // Baldwin & Lyons Inc., headquartered in Indianapolis, promoted Mark Bonini to executive vice president of sales, marketing and underwriting; Jim Isham to senior vice president of administration; and Craig Morfas to...
