Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
People
Dec 6 2009 // Monte Stringer, executive vice president with U.S. Risk Inc. in Dallas, has been elected president of the Texas Surplus Lines Association Inc. for the coming year. Stringer and other new officers and directors of the...
Florida Approves Rate Hikes for ‘High Risk’ Coastal Properties
Nov 22 2009 // Florida Insurance Commissioner Kevin McCarty has approved rates hikes for about 330,000 of Citizens Property Insurance Corp.’s so-called high-risk coastal property accounts. The statewide average increases include a...
Best Affirms Ratings of Assurant and Its Subsidiaries; Several Upgraded
Nov 20 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the P/C and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of “bbb” and debt...
Insurance Associations Concerned on Financial Stability Improvement Act
Nov 18 2009 // In an open letter addressed to Barney Frank, the Chairman of the House of Representatives Committee on Financial Services, the largest U.S. insurance trade associations expressed their concerns over the recently passed...
People
Nov 15 2009 // Alan Ring has joined National Contractors Insurance Co., Inc. (NCIC), a risk retention group, headquartered in Big Fork, Montana, as director of sales and marketing. Ring will be based in NCIC’s Anaheim Hills,...
Florida Property Rate Changes Approved
Nov 15 2009 // The average rate increases approved for Florida’s Citizens: Personal Lines Homeowners: 5.4 percent Dwelling Fire: 8.8 percent Mobile Homeowners: 1.7 percent Mobile Home Physical Damage: 2.1 percent Commercial...
The Mississippi Supreme Court’s Anti-Concurrent Clause Decision
Nov 15 2009 // How Far Will It Go? On Oct. 8, 2009, the Mississippi Supreme Court handed down its opinion in Corban v. USAA, in which it addressed the enforceability and application of “Anti- Concurrent Cause” clauses (ACCs)...
People
Nov 15 2009 // Alan Ring joined National Contractors Insurance Co. Inc. (NCIC), a risk retention group, headquartered in Big Fork, Mont., as director of sales and marketing. Prior to joining NCIC, Ring was a regional manager for...
Declarations
Nov 15 2009 // Healthy Action “The Affordable Health Care for America Act is a piece of legislation that will provide stability and security for Americans who have insurance; quality, affordable options for those who don’t;...
Wisconsin Local Governments to Share $12M in Property Insurance Credits
Nov 12 2009 // Wisconsin insurance officials plan to hand $12 million in property insurance credits back to local governments next year. Wisconsin municipalities can pay into a state account in exchange for insurance on public property....
AAIS Introduces ‘Green’ Coverage Option For Commercial Output Program
Nov 12 2009 // The advisory aand policy form organzation American Association of Insurance Services (AAIS) is introducing an optional Green Coverage Endorsement and accompanying schedules under its Commercial Output Program (COP). AAIS...
Insurance Trades Cast Wary Eyes at Senate Financial Services Bill
Nov 11 2009 // Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to...
Q3 Profit Rises at CNA; CEO Motamed Sees ‘Encouraging’ Rate Trends
Nov 2 2009 // CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating...
Decades in the Making, NAIC Outlines Natural Catastrophe Plan
Nov 1 2009 // White Paper Approved at Fall Meeting with Near-Unanimous Vote Though it may seem like the debate over the creation of a national catastrophe insurance plan is a relatively recent phenomenon, the National Association of...
People
Nov 1 2009 // Eagan Insurance Agency, based in Metairie, La., has added six insurance professionals to its staff. Joining the family business are Andrew Eagan and David Strassel, both members of the fifth generation of the Eagan family...
How to COPE with Apartment Risks
Nov 1 2009 // COPE is generally associated with property underwriting rather than as a risk class-based underwriting acronym. However, the traditional use and definition of COPE can be broadened to highlight the top concerns of...
Florida Approves 5.4% Citizens Homeowners Rate Hike
Oct 30 2009 // Florida’s state-backed and largest property insurer will be allowed to raise its rates for homeowners an average 5.4 percent in 2010. The increase is the first one allowed since lawmakers froze the rates of Citizens...
Attack on Health Firms Is Assault on All Private Insurance, Warns P/C Chief
Oct 26 2009 // Attacks by President Obama and Congressional Democrats against private health insurers will have a “spillover effect” on other segments of the private insurance marketplace, a property/casualty insurance trade...
Socius Hires in California and Illinois
Oct 23 2009 // Socius Insurance Services, Inc., a San Francisco-based management liability and property & casualty insurance wholesaler, today announced the appointment of Devin Wright as assistant vice president in its San...
Ironshore Expands Property Division at Lloyd’s, Bermuda
Oct 22 2009 // Bermuda-based Ironshore Inc. announced today that it has gained approval to write direct and facultative property business on behalf of its Pembroke Lloyd’s Syndicate effective October 1, 2009. The Pembroke team will...
