Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Procedures for Depopulating La. Citizens Property Ins. Corp. Unveiled
Apr 1 2008 // The Louisiana Department of Insurance has issued procedures for the first round of depopulation of Louisiana Citizens Property Insurance Corporation (LCPIC). The procedures were established at a meeting on March 14, 2008....
Union General Offers Property Market
Mar 31 2008 // Union General of Concord, Calif., has an “A+” rated carrier offering property coverage for all types of small- and medium-sized commercial risks. Coverage is also available for vacant dwellings and...
Florida Senate Passes Bill to Reduce Insurers’ Catastrophe Coverage Limits
Mar 27 2008 // Legislation passed by the Florida Senate this week would reduce the amount of state-funded reinsurance that insurers can purchase under the temporary increase in coverage limit (TICL) program. The Senate bill would reduce...
Vermont Police: Property Management Co. Victimized Dozens
Mar 26 2008 // Police in Montpelier, Vermont have identified 61 victims in the case of a property management company that suddenly went out of business, but no charges have been brought. Tenants, landlords, contractors and others who are...
Market Share Report: Top 25 Property/Casualty Insurers
Mar 24 2008 // The National Association of Insurance Commissioners released an updated version of the 2007 market share premium data for the top 25 insurers of select property/casualty lines of business. The report includes countrywide...
People
Mar 24 2008 // The Hartford’s Chief Financial Officer David M. Johnson plans to step down later this year. He has served as the company’s top financial officer since 2001, and will remain in the position until a successor is...
Head-in-the-Sand Response Won’t Work for Florida Property Insurance
Mar 24 2008 // As the 2008 legislative session begins and hurricane season approaches, Florida’s businesses and homeowners continue to struggle with the increasing cost of property insurance. The quest for answers to the...
People
Mar 24 2008 // McQueary Henry Bowles Troy hired Jimmy Balagia as senior vice president in the firm’s property and casualty group in Austin. Balagia has 30 years of experience as a property and casualty broker/consultant and...
Average Homeowners Policy Rate Comparison is Meaningless
Mar 17 2008 // Despite the insurance industry’s traditional reliance on averages, averages don’t always make sense when comparing premiums. In Texas, as elsewhere, individual premiums are subject to so many variables — from...
Fla. Senate Makes Recommendations on Property Insurance Accountability
Mar 14 2008 // The Florida Senate Select Committee on Property Insurance Accountability wants to restrict reinsurance costs in rates and strengthen the excess profits law among other things. Co-chaired by Sen. Jeff Atwater, R- North Palm...
Lexington Insurance Hikes Capacity for Commercial Property to $1.5 Billion
Mar 14 2008 // Lexington Insurance Co., an AIG company, has increased its capacity for commercial domestic property insurance by an additional $1 billion, raising the total non-catastrophe property capacity to $1.5...
Windstorm Liability Limits Increased for Certain Property in Texas
Mar 11 2008 // Texas Insurance Commissioner Mike Geeslin recently signed an order increasing the maximum limits of liability from $3,390,000 to $4 million for a commercial or government building insured for wind and hail by the Texas...
N.Y. Court Widens Opening for Contract Damages Against Insurers
Mar 10 2008 // The New York Court of Appeals has opened the door for breach of contract suits against commercial property insurers — a move two dissenting judges warned could raise the price of insurance for everyone in the state. In...
For Florida Politicians, Property Insurance Just Won’t Go Away
Mar 10 2008 // Property insurance wasn’t supposed to be the big issue in the 2008 Florida Legislature. To the chagrin of many lawmakers, it just won’t go away. Legislators thought they’d largely taken care of the issue...
Florida Insurance Market Showing Signs of Improvement
Mar 10 2008 // The insurance market in Florida is adjusting to changing conditions — some man-made, others resulting from forces of nature — all of which make property insurance for Florida homeowners more available and more...
Hedging Against Losses
Mar 10 2008 // How to navigate risk and find coverage solutions for hedge funds and their managers Hedge funds manage financial risk every day. Managers constantly seek out new strategies and investments, and then weigh the potential...
Average Homeowners Policy Rate Comparison is Meaningless
Mar 10 2008 // Despite the insurance industry’s traditional reliance on averages, averages don’t always make sense when comparing premiums. In Texas, as elsewhere, individual premiums are subject to so many variables — from...
Policyholders Need to be Educated on Importance of Flood Insurance
Mar 10 2008 // Eroding levees, flood map changes, lack of buyers highlight need for public outreach Levees can also erode and decay over time and require regular maintenance and upkeep to continue to offer the level of protection they...
How to Appraise and Insure Historic Homes
Mar 10 2008 // New technology, historical home insurance help to protect treasured properties Many urban and suburban areas are made more distinctive thanks to the historic homes nestled in their neighborhoods. Keeping history alive...
Insurers to Fla. Lawmakers: Make Corrections on Property Insurance
Mar 4 2008 // The convening of the Florida Legislature this week will present an opportunity for legislators to reconsider some of the problematic measures passed in 2007, according to the American Insurance Association. “From a...
