Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
FORE! Golf club risk moves off course
Aug 20 2007 // In June 2007, a California woman was awarded $4.3 million for injuries she received in a golf car crash that left her too disabled to continue her successful photography and jewelry design careers. A wheel of the car she...
21% Property Rate Hike Approved in La. May Affect 8,500
Aug 17 2007 // Louisiana regulators approved a property insurance rate change on Aug. 15, a statewide average rate increase of over 21 percent that will affect roughly 8,500 policyholders. The Louisiana Insurance Rating Commission...
Interim Report: No Proof Insurers Labeled Katrina Wind Claims as Flood
Aug 16 2007 // A preliminary report from the federal government has found no evidence to support allegations that private insurers improperly shifted wind damage claims from Hurricane Katrina onto the federal government’s flood...
Allianz Sells Property Portfolio to IVG
Aug 14 2007 // Germany’s Allianz announced that it has “sold a portfolio of German property to IVG Immobilien AG for around €1.3 billion [$1.765 billion]. The portfolio comprises several buildings currently occupied by...
La. Commissioner Plans to Abolish ‘Secretive’ Bureaucratic Layers
Aug 13 2007 // Calling them “confusing and secretive layers of bureaucracy,” Louisiana Insurance Commissioner Jim Donelon announced plans to abolish the Property Insurance Association of Louisiana (PIAL) and the Louisiana...
La. Independent Agents Group CEO Lauds Flood Limitation Rulings
Aug 8 2007 // The CEO of a major insurance agent trade group in Louisiana says two recent federal appeals court decisions affirming flood limitations in property policies will enhance the state’s recovery from Hurricane...
Blanco, Donelon and business coalition deliver market reform laws
Aug 6 2007 // The 2007 legislative session in Louisiana resulted in three major pieces of legislation recently signed into law which will improve the ability of insurers to rate and underwrite homeowners insurance on a more competitive...
The Hartford settlement ends agents’ contingent commissions
Aug 6 2007 // The Hartford Financial Services Group Inc. announced it has reached a settlement with the New York, Connecticut and Illinois attorneys general resolving matters relating to their investigations of the compensation...
Commercial lines insights of top agencies
Aug 6 2007 // While much of the talk about the current commercial and professional lines market turns to insurers lowering their prices, the soft market is requiring agents to raise their agencies’ level of attention paid to...
People
Aug 6 2007 // The Main Street America Group named Gregg Effner assistant vice president of distribution management. Effner, who has 30 years of property/casualty industry experience, will be based at the company’s corporate...
The Hartford settlement with attorneys general ends agents’ contingent
Aug 6 2007 // The Hartford Financial Services Group Inc. announced it has reached a settlement with the New York, Connecticut and Illinois attorneys general resolving matters relating to their investigations of the compensation...
Commercial lines insights of top agencies
Aug 6 2007 // While much of the talk about the current commercial and professional lines market turns to insurers lowering their prices, the soft market is requiring agents to raise their agencies’ level of attention paid to...
NAS Enhances Tenant Discrimination Liability Insurance
Aug 3 2007 // Encino, Calif.-based NAS Insurance Services has enhanced its tenant discrimination liability insurance coverage with policy changes. New wording defines covered property as an entity owned or managed by the named...
Fla. Gov.Suggests Property Insurers not Following Rate Savings Law
Aug 2 2007 // Gov. Charlie Crist suggested Tuesday that some property insurers may be deliberately flouting a new state law that requires them to buy cheaper reinsurance and pass the savings on to consumers. Crist said he was concerned...
Senate Banking Panel to Hear Natural Disaster Commission Bill Today
Aug 1 2007 // A Senate Banking committee is scheduled to mark-up a bill today to establish a natural catastrophe commission to examine how best to mitigate disaster risks and deal with the after-effects of these events. The Senate...
Fireman’s Fund Targets Senior Living Facilities with Property-Gard
Jul 31 2007 // To meet the needs of small, large or multi-unit senior living facilities, Fireman’s Fund Insurance Co. is now offering Property-Gard, a coverage specifically created to protect residents, guests, property and income...
Texas’ June Enforcement Actions Result in $190K in Fines, Restitution
Jul 31 2007 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during June resulted in nearly $191,000 in fines and restitution, the Texas Department of Insurance announced. The actions include...
S.C. Approves 35% Wind Pool Hike
Jul 30 2007 // Scott H. Richardson, director of the South Carolina Department of Insurance has approved changes, effective July 19, 2007, to the rating plan and plan of operation for the South Carolina Wind and Hail Underwriting...
Still time to register for Private Sector Summit on Florida property insurance market
Jul 26 2007 // Property insurers in Florida are facing a crisis as they try to deal with the impact of drastic changes imposed on them with the recent enactment of the property insurance law (HB 1A) that contains new mandates. How to...
Fireman’s Fund Launches Property Protector Program for College Students
Jul 25 2007 // Fireman’s Fund Insurance Co. based in Novato, Calif., has teamed with College Student Insurance (CSI) to offer a property insurance plan especially for college students living away from home. Parents are sending more...
