Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
States Aim to Prevent Residential Fires by Requiring ‘Fire Safe’ Cigarettes
Jan 31 2008 // Movies – think Lauren Bacall and Humphrey Bogart in “The Big Sleep” – often make cigarette smoking look glamorous. Of course, in reality, the practice is anything but. In addition to being a leading...
Allstate 4Q Profit Falls 37% as Calif. Wildfire Losses Top $300M
Jan 31 2008 // Hit by an increase in catastrophe losses, Northbrook, Ill.-based insurer Allstate Corp. saw its profit drop by more than 37 percent in the fourth quarter of 2007 compared to the same period in 2006. The fourth quarter net...
CO Credit Ban Defeated on House Floor
Jan 30 2008 // The Colorado House rejected legislation Tuesday that would have prohibited insurers from using credit information as a factor for the acceptance, denial, renewal or rating of a potential insured for insurance underwriting...
9th Windstorm Insurance Forum to Focus on Fla. Property Concerns
Jan 30 2008 // The concerns of property insurance in Florida and the perils facing the property insurance industry are some of the key issues to be addressed at the Ninth Annual Windstorm Insurance Conference, set for Feb. 4 – 7 in...
La.’s Valued Policy Law: New Teeth for Hurricane Claims?
Jan 27 2008 // Property damage from hurricanes primarily comes from two sources: wind and water. Insurance coverage for property damaged by wind, and by rain water which enters the property as a result of wind damage, is generally...
5 Carriers Receive $29 Million in La. Incentive Grants
Jan 27 2008 // Department to accept next round of applications Feb. 4 through Mar. 3 At a Jan. 11 press conference, Louisiana Commissioner of Insurance Jim Donelon and then-Gov. Kathleen Babineaux Blanco handed out $29 million in grants...
FBI Study: Violent, Property Crime Rates Decline
Jan 27 2008 // Crime rates dropped for the first time in two years, according to a newly released report of the most recent data collected by the Federal Bureau of Investigation. Nationwide, violent crime fell 1.8 percent and property...
Executives See Only Moderate Growth for P/C Industry in 2008
Jan 27 2008 // Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower — although that could quickly worsen if a natural...
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 27 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the...
S.C. Company Wants Neighbors to Help Pay for Pollution Cleanup
Jan 21 2008 // A South Carolina company being sued by neighbors for polluting groundwater around its plant in Myrtle Beach is asking a court to force those neighbors to help pay for testing and cleanup of contamination. AVX Corp. says in...
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 14 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same...
Fla. Gov. Crist Weighs Suing Property Insurers Over Rates
Jan 13 2008 // Gov. Charlie Crist has asked three trial lawyers to review documents for a possible class-action lawsuit against property insurers, alleging that the industry hasn’t passed on savings to consumers as required by...
People
Jan 13 2008 // Giant insurance broker Marsh announced changes to its global organizational structure as well as several senior management appointments. Marsh said its global insurance broking business will be consolidated into two...
People
Jan 13 2008 // Dallas-based regional insurer, The Republic Group, appointed Jim Drawert to the new position of vice president – Industry Relations. Additionally, Cathy Link has joined Republic as chief underwriting officer. Drawert...
Subprime Contagion: Where Will the Litigation Wave Spread Next?
Jan 13 2008 // The subprime mortgage meltdown has been a leading story on the front pages of newspapers around the country for the past few months. The uproar also has led to a flood of new lawsuits and to concerns about how much further...
FBI Study: Violent, Property Crime Rates Decline
Jan 13 2008 // Crime rates dropped for the first time in two years, according to a newly released report of the most recent data collected by the Federal Bureau of Investigation. Nationwide, violent crime fell 1.8 percent and property...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped in 3rd Quarter
Jan 13 2008 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
Assessing Catastrophe Risk While Underwriting Doesn’t Require Big Changes
Jan 13 2008 // A little data can go a long way to improve risk selection in catastrophe prone areas For companies writing homeowners insurance in catastrophe prone states, the future of catastrophe risk assessment is now. Today, insurers...
Fla. Appoints Select Committee on Property Insurance Accountability
Jan 10 2008 // Senate President Ken Pruitt, R-Port St. Lucie, today appointed the Senate Select Committee on Property Insurance Accountability. The Committee will be co-chaired by Sen. Jeff Atwater, R- North Palm Beach, and Senate...
California Governor To Propose Homeowners, Business Property Insurance Policy Tax
Jan 10 2008 // California Gov. Arnold Schwarzenegger is expected to propose a 1.25 percent tax on homeowners and business property insurance policies when he unveils his state budget today. “The expected proposal will unfairly...
