Latest Property Headlines

Insurance Information Network Of California Offers Fire Victims Recovery, Claims Info

Nov 18 2008 // With displaced residents of the Southern California fires now returning to their neighborhoods, several home and business owners are now finding themselves facing dozens of questions before they rebuild. To help navigate...

Report: Shifting Insurance Market Means New Challenges for Buyers

Nov 17 2008 // Pressures that could harden the property and casualty insurance market loom over insurance carriers entering into the final weeks of 2008, says a new industry report by the global insurance broker Lockton. In its Fall 2008...

Mississippi Rebuilds Its Insurance Markets

Nov 16 2008 // Wind Pool Modernization, Better Building Code Enforcement and Carrier Recruitment Efforts Begin to Pay Off Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his...

Florida’s Citizens Offers New Commercial Nonresidential Policy

Nov 16 2008 // Florida’s state-backed Citizens Property Insurance Corp. has begun offering a commercial nonresidential multi-peril policy for business. This new policy is available to eligible nonresidential risks located...

Successive Hurricanes: Potential Windfall for Insureds?

Nov 16 2008 // The 2008 hurricane season came very close to presenting, on a large scale, the potential quandary caused by successive losses. On Sept.1, 2008, Hurricane Gustav came ashore and caused substantial damage from the Louisiana...

Attract and Win Social Services Business with Risk Management Strategies

Nov 16 2008 // How Insurance Professionals Can Be Valuable Advisors to Non-Profit Organizations Operating a non-profit social service business has always been a challenging balance between meeting constituent needs, funding the...

Florida Approves 110,000 More Withdrawals from Citizens Property

Nov 14 2008 // Florida officials have approved up to 110,000 more policy removals by private insurers from the state-backed insurer Citizens Property Insurance Corp. Florida Insurance Commissioner Kevin McCarty said six insurance...

Missouri Residents Question Accuracy of New Flood Maps

Nov 11 2008 // Plans to change the flood zone maps in Springfield, Mo. have several residents upset that they will have to buy flood insurance for property that they say has never flooded. More than 100 homeowners attended a meeting on...

Marsh’s Bowring Supports Clients with Innovative Risk Transfer Products

Nov 11 2008 // Bowring, Marsh’s International Specialist Broker, announced new efforts to make its placement leadership meet the requirements of its clients by creating “five bespoke risk transfer products covering property,...

Florida’s Citizens Property Insurer Offers Commercial Multi-Peril Policy

Nov 4 2008 // Florida’s state-backed Citizens Property Insurance Corp. will begin offering a commercial nonresidential multi-peril policy on Nov.17. This new policy will be available to eligible nonresidential risks located...

Insurers’ Study Warns on North Carolina Beach Plan Deficit

Nov 2 2008 // The insurance industry has unveiled results of a report finding that the North Carolina Insurance Underwriting Association, a.k.a. the Beach Plan, is not financially prepared to weather a major storm. According to the...

Alabama Revenue Chief Calls for Captive Insurers for Coastal Property Risks

Nov 2 2008 // Alabama’s coastal property insurance crisis could be resolved by the state and cities working together to form special types of insurance companies to offer coverage, the state revenue commissioner said. Tim Russell,...

Bright Spots and Challenges Go Hand in Hand in Louisiana

Nov 2 2008 // Despite the challenges faced by the state of Louisiana since Hurricanes Katrina and Rita wrought their havoc in 2005, there are bright spots in the state’s property casualty insurance industry, says Louisiana...

Three’s a Crowd

Nov 2 2008 // Recent Insurance Decisions of the Texas Supreme Court On Aug. 29, 2008, the Texas Supreme Court continued its recent foray into insurance law by issuing three important insurance coverage decisions. Each of these decisions...

Nov 2 2008 // Pete Garvey, current president of Integro Ltd., assumed the additional responsibility of CEO for the insurance broker, succeeding Roger Egan, who has left the company. Garvey has served as president of Integro since 2005....

Risk Managers Report Price Softening; Insurers Battle Surplus Decline

Nov 2 2008 // Property Premiums Fall Sharply; P/C Insurers Post Q3 Losses; Some Sell Stock to Raise Cash for Surplus Woes Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a...

Commercial P/C Insurers’ Stocks Down 14%; M&A Activity at Historic Highs

Nov 2 2008 // Stock Prices: The turbulent stock market is not sparing commercial property/casualty insurers. Through the first nine months of the year stocks are down 14 percent in the sector. M&A Activity: Despite the current...

Property/Casualty Insurers on Government Rescue Funds: No Thanks

Nov 2 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/ casualty insurers are...

The Hartford’s Q3 Loss Reported at $2.6 Billion

Oct 30 2008 // Hartford Financial Services Group Inc. joined other insurers in reporting a loss in the third quarter due to large investment losses and catastrophe claims. The Hartford reported a third quarter 2008 net loss of $2.6...

Ironshore’s President, Chief Underwriter Resigns

Oct 30 2008 // Les Rock, president and chief underwriting officer of Ironshore Insurance Ltd., has resigned effective Oct. 31, 2008 for personal reasons. Howard Barnes, Peter Coleman and Rod Todd will continue to underwrite property...