Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Lexington Expands Spoliation Insurance Product
Sep 1 2011 // Lexington Insurance Co., a Chartis company, has made its spoliation insurance endorsement available to an array of insureds, including lawyers, accountants, testing facilities, and document and property storage facilities....
Forecast: Few Insured for Irene’s Losses in Connecticut
Aug 31 2011 // Only about 30 percent of property losses inflicted by Tropical Storm Irene in Connecticut will be covered by insurance, according to an estimate by a consulting group that said less will be covered compared to previous...
Insurance Industry Mobilizes for Hurricane Irene Claims
Aug 26 2011 // In addition to advising their policyholders on what to do to protect against Hurricane Irene, property/casualty insurers and brokers are themselves taking precautions—and positioning their claims teams for the...
XL Names Beauregard to Lead E&S Property Unit
Aug 26 2011 // XL Insurance named Ronald E. Beauregard Jr. as senior vice president and chief underwriting officer for its excess and surplus (E&S) property business. Based in Boston, Beauregard reports to Roxanne Mitchell, president...
Irene Causes Extensive Property Damage on Smaller Islands in the Bahamas
Aug 26 2011 // Large and powerful Hurricane Irene roared across the Bahamas archipelago on Wednesday, knocking down trees and destroying homes on a path that officials said posed the greatest threat to the country’s smaller,...
North Carolina Property Insurance Surcharges Unlikely After Irene
Aug 25 2011 // Every property owner in North Carolina has a financial stake in the damage risk posed by Hurricane Irene, which could become the first to hit the state since a new method of paying for coastal storm damage allowed for...
Is It Time to Consider Earthquake Insurance?
Aug 25 2011 // Earthquakes and California go together. Or at least that’s what most of the country thought until Tuesday’s East Coast earthquake centered in Virginia. Reports of the earth moving were widespread, coming from...
Mercury Hires New Property Field Adjusters
Aug 23 2011 // Los Angeles-based Mercury Insurance is hiring 63 full-time property claims employees in its California, Texas, New Jersey and New York offices to support its growing customer base. Mercury’s homeowners business has...
No Punitive Damages After Wrongdoer’s Death, Iowa Supreme Court Affirms
Aug 22 2011 // Punitive damages may not be recovered from the estate of a “wrongdoer,” the Iowa Supreme Court has ruled. The Court’s decision in a case involving a damage dispute between rural land owners upholds a...
XL Names 6 to North America Construction Team
Aug 17 2011 // XL Insurance has made six key appointments to its North America Construction team that it established a year ago. The latest additions to XL Insurance’s North America Construction team include: Lawrence Lejfer...
New Rating and Policy Bureau Breaks Ground With Injudicious Exclusion
Aug 15 2011 // Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous....
Lloyd’s: Drought Caused Subsidence Costliest Natural Hazard in Parts of Europe
Aug 9 2011 // An article on the Lloyd’s web site notes that “news reports on climate change have focused on dire predictions of more hurricanes and increasing flooding due to rising sea levels. But subsidence caused by...
XL Insurance Appoints Western Property Executive
Aug 5 2011 // XL Insurance has appointed Wade Pitman as senior vice president and Western senior executive for property. Pitman will be based in Los Angeles and will be responsible for managing property underwriting activities in...
Swiss Re Posts $960 Million Q2 Net Income; Combined Ratio 78.4%
Aug 4 2011 // Swiss Re reported Group net income increased by 18 percent to $960 million in the second quarter of 2011, compared to $812 million in the same period of 2010. “All segments contributed to these positive results,...
People
Aug 1 2011 // Wholesaler Swett & Crawford has added Ricky Dawson to its casualty staff in New York. Dawson, who has a background in both insurance wholesale brokerage and underwriting, previously served as a wholesale broker with...
P/C Commercial Prices Showed Modest Increases in Q2: Brokers’ Survey
Jul 28 2011 // Pricing in the U.S. commercial property/casualty market showed modest increases in the second quarter of this year, compared with the first quarter. That’s according to The Council of Insurance Agents &...
Oklahoma Resident’s Protests Prompt Flood Map Change
Jul 25 2011 // Residents of Lake McAlester in Oklahoma are no longer in a Federal Emergency Management Area flood zone after an uncommon re-mapping of the area. “This is the only area in the state of Oklahoma that has been ever...
Volvo Technology Prevents 27% of Low-Speed Crashes: Insurance Study
Jul 20 2011 // Vehicles are doing a better job of protecting people in crashes, but a new crop of advanced technology aims to prevent many crashes from happening altogether. A new study by the insurance industry’s Highway Loss Data...
XL Insurance Strengthens International Property Business
Jul 19 2011 // XL Insurance, the global insurance operations of XL Group, announced changes in its International Property business, which it said are “in line with XL Insurance’s strategy of providing innovative solutions...
Hawaii Blowhole Death Raises Liability Questions
Jul 19 2011 // The fiancee of the Northern California man who was sucked into a blowhole to his apparent death said there should have been signs warning people of the dangers of the geyser-like creation along a rugged stretch of the Maui...
