Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
The Hartford Broadens Equipment Rental, Sales Businesses Coverage
Nov 11 2010 // Equipment suppliers often have protection needs that extend beyond the scope of a traditional property policy. Whether a business rents tents and tables for special events, sells industrial machinery or leases high value...
Fremont Recommends Use of Hunting Hold Harmless Agreements
Nov 11 2010 // Property owners who allow others to hunt deer on their property are advised to use a Hunting Hold Harmless Agreement to help mitigate damages that may result from a claim, according to Fremont Michigan InsuraCorp...
Illinois Disciplinary Actions Include License Denials, Suspensions, Fines
Nov 11 2010 // Illinois Department of Insurance Director of Insurance Michael T. McRaith has issued the following disciplinary orders for September and October 2010: Shango D. Johnson, Chicago – Insurance producer license suspended...
Miller to Head E&S Property Business for Torus
Nov 9 2010 // Specialty insurer Torus appointed Catherine Miller to head of E&S General Property. Based in Jersey City, Miller will manage general property business written through wholesale brokers throughout the United...
Abandoned Properties in Louisiana a Growing Problem
Nov 9 2010 // In Rapides Parish, Louisiana, officials know they have a problem with abandoned, rundown properties. That poses another problem: what to do with them. As economic conditions have stagnated, rising numbers of properties...
How Insurance Companies Can Live to Be 100 and Beyond
Nov 8 2010 // Companies that seek longevity in the insurance industry should not focus solely on increasing profits. That’s the assessment of Robert P. Hartwig, president and economist for the Insurance Information Institute. In...
Alterra Capital Posts $82.8 Mn. Q3 Net Income; $222.7 Mn 9 Months
Nov 3 2010 // Bermuda-based Alterra Capital Holdings Limited reported net income of $82.8 million, or $0.70 per diluted share, for the third quarter of 2010, compared to net income of $95.3 million, or $1.64 per diluted share, for the...
Gulf Region Property Markets Still Troubled 5 Years After Katrina
Nov 1 2010 // Five years after Hurricane Katrina devastated the Gulf Coast, neither the federal government nor the private sector is any closer to developing effective solutions to the problems facing flood and windstorm insurance,...
Gulf Region Property Markets Still Troubled 5 Years After Katrina
Nov 1 2010 // Five years after Hurricane Katrina devastated the Gulf Coast, neither the federal government nor the private sector is any closer to developing effective solutions to the problems facing flood and windstorm insurance,...
Risk Retention Groups Call for Changes to Federal Liability Act
Nov 1 2010 // RRGs Seek Dispute Mechanism, Ability to Write Commercial Property, Uniform Regulation The Liability Risk Retention Act of 1986 (LRRA) was enacted to help solve the crisis of the 1980s created by the unavailability of...
Cincinnati Financial Q3 2010 Income Drops Compared to 2009
Oct 29 2010 // Cincinnati Financial Corp. reported $156 million, or 95 cents per share, of net income for the third quarter of 2010 compared with a net income of $171 million, or $1.05 per share, in the third quarter of 2009. The...
Catlin Re Switzerland Expands Underwriting Staff
Oct 22 2010 // Catlin Re Switzerland, the European reinsurance company currently being formed by Catlin Group Limited, headquartered in Zurich, has announced two additions to its underwriting staff. Christophe Chandler, currently a Class...
Some Rezoned Flood Insurance Policyholders Get Price Break
Oct 18 2010 // The nation’s flood insurance program is extending the availability of lower cost policies for some property owners who have been recently remapped into higher-priced areas. Since 2008, many homes and businesses in...
Iowa Court: Property Transfer Doesn’t Negate Builder’s Risk Policy
Oct 18 2010 // The Iowa Court of Appeals upheld a decision by a lower court that a builder’s risk insurance policy remained in effect after the policyholder transferred the property, by warranty deed, to another party in exchange...
10 Things to Know About Commercial Property Insurance
Oct 18 2010 // 1. Flood Coverage Flood coverage is NOT included in the Commercial Property Package (CPP). 2. Vacant v. Unoccupied “Vacant” and “unoccupied” are not synonymous in the CPP. A building or unit can be...
E&O Insights: Co-Insurance Penalty
Oct 18 2010 // What It Means to Your Customer and Your Agency Co-insurance penalty. Trust me these are not the words you want to hear from your customer right after a claim. How confident are you that your customers know: 1) if they have...
AAIS Introduces New Policies for Builders’ Risk, Installation Floaters
Oct 12 2010 // A national property/casualty advisory organization has developed several new policy forms insurers can use for writing the builders’ risk and installation floater classes of inland marine insurance. The American...
Court: Property Transfer Doesn’t Negate Builder’s Risk Policy
Oct 8 2010 // The Iowa Court of Appeals upheld a ruling by a lower court that a builder’s risk insurance policy remained in effect after the policyholder transferred the property, by warranty deed, to another party in exchange for...
S&P Raises AFG’s Subsidiaries Ratings to ‘A+’; Outlook Stable
Oct 7 2010 // Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on American Financial Group’s (AFG) core insurance subsidiaries to ‘A+’ from...
Best Affirms FM Global Group’s ‘A+’ Ratings; Outlook Stable
Oct 5 2010 // A.M. Best Co. has affirmed the financial strength ratings of ‘A+’ (Superior) and issuer credit ratings of “aa” of FM Global Group and its lead company, Factory Mutual Insurance Company, and its...
