Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Sompo Int’l Hires Generali’s Brown to Lead New London & International Property Team
Jan 15 2021 // Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced the appointment of Richard Brown to lead a new team focusing on property business through...
Willis Towers Watson Adds Shanghai to Global Markets Property/Casualty Hub
Jan 14 2021 // Willis Towers Watson, the global advisory, broking and solutions company, announced the addition of Shanghai to its global property and casualty hub, aimed at enhancing the company’s global placement model for...
W.R. Berkley Sells Manhattan Real Estate Investment Property
Jan 13 2021 // W.R. Berkley Corp. sold off one of its real estate investments – a New York City office complex – at the end of 2020. The sale generated a $105 million pre-tax net gain, according to the commercial lines specialty...
Study Shows Impact of Property Protections on Texas Windstorm Insurer Rates
Jan 7 2021 // A report prepared by Willis Towers Watson showing the potential impact of increased coastal building standards on premium rates for Texas’ property insurer of last resort for coastal counties is now available for...
Cincinnati’s Core Specialty Makes Key Appointments in Property Division
Jan 6 2021 // Cincinnati, Ohio-based Core Specialty Insurance Holdings Inc. has filled several key roles within its Property Division, led by Alison Oliphant. The company had previously announced its plans to launch this division ahead...
Miami Beach Considers Homeowner Grants to Prepare Property for Sea Rise
Dec 29 2020 // Miami Beach is exploring a way to help residents cover the cost of floodproofing their properties from heavy rains and high tides made even higher by sea level rise – at least a little. The city is considering...
Lloyd’s Syndicate Dale and DUAL Launch MGU with Focus on U.S. Property Insurance
Dec 21 2020 // Dale Underwriting Partners and DUAL announced a new joint venture, Dale DUAL MGU Ltd. (DDML), in collaboration with Aviva with immediate effect. This partnership has been brought together by Howden Reinsurance Broking led...
Outlooks Revised to Negative for Iowa’s United Fire Group, Property/Casualty Subs
Dec 21 2020 // AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of the property/casualty...
Credit Ratings of Chicago’s Echelon Property & Casualty Insurance Downgraded
Dec 10 2020 // AM Best has downgraded the Financial Strength Rating to C+ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b-” from “bb-” of Echelon Property & Casualty Insurance Co....
BHSI Hires Macfarlane to Lead Downstream Energy Property in Europe
Dec 1 2020 // Berkshire Hathaway Specialty Insurance (BHSI) announced it is expanding its capabilities in Europe to underwrite downstream energy property insurance and has named Tom Macfarlane to lead this business segment. “This...
HGTV’s ‘Property Brothers’ Sign With American Family Insurance as Spokesmen
Nov 30 2020 // American Family Insurance has chosen home renovation duo Drew and Jonathan Scott, the twin stars of HGTV’s “Property Brothers,” as the company’s newest brand ambassadors. The Scott brothers and...
Aon Targets M&A Market with Intellectual Property Assessment Offering
Nov 20 2020 // Insurance broker Aon has launched the Quality of Intellectual Property (QoIP) Solution that is designed to help companies receive higher transaction value by specifically articulating the quality of the seller’s IP...
Texas Issues Call to Insurance Companies for 2019 North Texas Storm Data
Nov 17 2020 // The Texas Department of Insurance has issued a call to insurers licensed to write property/casualty insurance in Texas, including surplus lines and farm mutual insurers for the collection of data about a 2019 storm in...
Prime Property & Casualty Insurance Inc. Successfully Resolved Trucking Case in Florida Jury Verdict of Just Under $412M
Nov 17 2020 // Chicago, IL, November 13, 2020 – Prime Property & Casualty Insurance Inc. (“PPCI”) successfully resolved a trucking case that went to jury trial in Florida resulting in a jury verdict of just under...
Kevelighan: Talks with Institutes on Creating 21st Century Triple III Began Years Ago
Nov 16 2020 // Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to...
3 Ps to Consider When Managing the Risks of Assisted Living Facilities
Nov 16 2020 // Assisted living facilities provide a necessary service to our aging population, but operating them comes with risks. When you consider that they are designed to provide care for our loved ones in ways that many of us are...
13 New U.S. Property/Casualty Insurer Impairments in 2019
Nov 16 2020 // The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment
Nov 12 2020 // While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may...
Hamilton Promotes 3 at Lloyd’s Unit as Managing Agency CEO, CUO Resign
Nov 10 2020 // Hamilton Insurance Group announced three promotions in the leadership team at its Lloyd’s operations following the resignations of Hamilton Managing Agency Limited CEO Tim Glover and Chief Underwriting Officer David...
Hit to Louisiana Citizens Property Insurance from 2020 Storms Limited to $35M
Nov 9 2020 // Louisiana Citizens Property Insurance Corp. (Citizens), the state’s insurer of last resort, will take only a $35 million financial hit from the 2020 hurricane season because of its reinsurance program, according to...
