Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida Urged to Hike All Citizens Property Insurance Rates By 10%
Oct 22 2009 // Florida insurance regulators are failing in their duties if they don’t make the state-backed Citizens Property Insurance Corp. raise property insurance rates by 10 percent across the board, a business group lobbyist...
Coleman, Todd to Lead New Ironshore Property Businesses
Oct 21 2009 // Ironshore Inc. has named Rod Todd as head of its newly established Lloyd’s Property Operation, and promoted Peter Coleman to head of Ironshore’s Bermuda property operations. Todd has extensive experience in the...
Florida to Hear Citizens Property Insurance Rate Hikes of 5% to 10%
Oct 20 2009 // Florida regulatory officials will hold a public hearing Nov. 10 on proposed hikes of between 5 and 10 percent in the premiums charged by Citizens Property Insurance Corp., the state-backed property insurer. If approved,...
Q&A with Ironshore’s Kelley: Why He Left AIG and His Plans for Ironshore
Oct 19 2009 // In December, 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30 years during which he helped the company become one of parent American International...
ACE Names Talbott Executive Vice President – International Property
Oct 14 2009 // The ACE Group of insurance and reinsurance companies has announced the appointment of Derek Talbott as Executive Vice President, International Property. He will be responsible for the management and performance of...
Florida Insurance Chief Grilled by Lawmakers
Oct 8 2009 // Some insurance companies could go out of business if a major hurricane hits Florida, the state’s insurance commissioner told a Senate panel this week. But after more than an hour grilling by lawmakers, Commissioner...
Louisiana-based Eagan Insurance Announces Staff Additions
Oct 8 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...
Montana Ponzi Scheme Investigation Continues
Oct 6 2009 // The state and a court-appointed receiver continue to inventory the assets of two Polson men and their companies as they seek to recover money for those who invested in what the state calls a $14 million Ponzi scheme. Keith...
What to Expect If Hurricane Hugo Hit South Carolina Today
Oct 5 2009 // Hurricane Hugo was the most costly hurricane ever to hit the United States when it made landfall in South Carolina in 1989, causing $4.2 billion in insured damage. Since then, the total insured property along South...
Gulf Coast Construction Deemed ‘Woefully Inadequate’ for Storm Surge
Oct 5 2009 // Government minimum flood elevation requirements for properties vulnerable to storm surge throughout the Gulf Coast region are “woefully inadequate,” according to a new study of property damage caused by...
Ironman Kevin Kelley: Strength Through Multiple Platforms
Oct 5 2009 // Ironshore’s CEO on Why He Left AIG and How He’s Building His Young Company In December 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30...
Ironshore Expands U.S. Distribution Network
Sep 30 2009 // Ironshore Inc. will be expanding its distribution network by establishing regional offices throughout the United States. Steven England has been appointed executive vice president of Ironshore Insurance Services,...
At Home and Abroad, Vacated Properties Pose Greater Risk
Sep 29 2009 // A global recession, which has led to layoffs and a sharp drop in consumer spending, has also created a glut of commercial real estate space around the world. Vacated properties are a significant concern because they are...
P/C Industry Net Income Falls Nearly 60% in First-Half 2009
Sep 28 2009 // Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their...
Program Offers Coverage to Managers for Property of the Stars
Sep 24 2009 // A Los Angeles broker has designed an insurance program specifically marketed to those who manage and attend to the glitterati. Richard Rutkin, president of L.A.Xcess Insurance Brokers, Inc. recently announced a new,...
Newest Florida Carrier, Prepared Insurance, Targets ‘Older’ Homes
Sep 23 2009 // Florida has given the go-ahead to a new homeowners insurance company that plans to focus on what it says is the underserved market of homes built before 2002. Prepared Insurance Co., headquartered in Tampa, intends to use...
Hurricane Hugo Today Would Cause $20 Billion in Damage in South Carolina
Sep 22 2009 // Hurricane Hugo was the most costly hurricane ever to hit the United States when it made landfall in South Carolina in 1989, causing $4.2 billion in insured damage. Since then, the total insured property along South...
The Coverage Conundrum in Chinese Drywall Claims
Sep 21 2009 // The Latest Mass Tort Unless you live in Florida or Louisiana, or regularly read the Insurance Journal, you may only now be hearing about the latest mass tort craze: Chinese-Manufactured Drywall (often simply referred to as...
North Carolina Coastal Broker Ready to Ride Beach Plan Reform Wave
Sep 21 2009 // Hanover Excess Sees State Pool Changes A Boost For Business Still Recovering From Recession, Soft Market The Web site for Hanover Excess (www.hanoverxs.com) proclaims that the people at this North Carolina excess and...
California Lawmaker Wants More Green Insurance Products
Sep 21 2009 // Bill Would Require Green Products, Offer Tax Credits Even As Industry Steps Up Its Own Development A bill recently introduced in California could encourage more ecologically friendly insurance policy products, putting the...
