Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Property Insurance Veteran Stephen Manahan Joins Blue River Underwriters
Aug 7 2019 // Atlanta, GA, August 7, 2019 — Stephen Manahan has joined the Specialty Property Program team of Blue River Underwriters, part of Breckenridge Insurance Group, as vice president, underwriting. Manahan brings more than 25...
Chubb appoints Kwan as Division Head of Property & Casualty for Singapore
Aug 6 2019 // Chubb announced the appointment of Eric Kwan as division head of Property & Casualty for Singapore, effective Aug.5, 2019. He reports to Scott Simpson, Chubb’s country president for Singapore. In Kwan’s new...
Resolving Claim Disputes: Step 2…Other Policy Interpretation Doctrines
Aug 5 2019 // Step 2 of the claim resolution process involves interpreting policy provisions that are cited as the basis for a claim denial. This step (and Step 3) employs up to 12 interpretive doctrines and 17 largely legal and...
Burst Sewer Pipes, Condos, and Coverage
Aug 5 2019 // An interesting question came in to the Academy of Insurance recently, edited below for space and to avoid disclosing any identifiable details. “I live in a condo building. A sewage pipe burst, causing damage to my...
California Settles 19-Year Old Public Nuisance Claim Against Lead Paint Makers
Jul 18 2019 // When Californian counties and cities first sued paint makers in 2000, they wanted the companies to pay billions to remove dangerous old lead paint from hundreds of thousands of homes. After a 19-year legal struggle, they...
By Taming Big Data with AI, Cytora Aims to Transform Commercial Underwriting
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
3 Problems with the Coverage Territory
Jul 10 2019 // When a customer buys an insurance policy, one of the often unanswered (and unasked) questions is “where does this policy apply?” You may not think it’s a big deal. But what if you just wrote a CGL policy...
FTP Inc. Names Glaser to Launch FTP of California LLC
Jul 9 2019 // FTP Inc. has named Lee Glaser to establish FTP of California LLC, based in San Diego. Glaser will focus on developing the producer base and adding additional underwriters and programs for FTP of California. He has a...
30% of Disaster Claims Settled After Desk Audit Using Munich Re Remote Tool, Images
Jul 1 2019 // Munich Re had teamed up with a unit of the National Insurance Crime Bureau to offer insurance carriers an analytics tool that can quickly assess property damage after natural catastrophes and speed up claims...
InsuraGuest, Venture Insurance to Offer Accident, Property Coverage to Hotel Guests
Jul 1 2019 // InsuraGuest, Inc. has partnered with Venture Insurance Programs to provide U.S. hotels with specialized insurance coverage for guests who are staying in the hotel utilizing InsuraGuest’s insurtech...
AXA XL Enhances Environmental Insurance Coverage
Jul 1 2019 // AXA XL’s Environmental business in North America has added supplemental coverage to its Pollution and Remediation Legal Liability policy. The policy is designed to provide protection to owners, operators and...
People
Jul 1 2019 // National American International Group said Kathleen Zortman will join the company as president and CEO of Private Client Group, General Insurance. In this new role, Zortman will lead AIG’s global high net worth...
2019 Super Regional P/C Insurers
Jul 1 2019 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2018 data for property/casualty...
JBA Risk Management and FloodFlash Launch Parametric Flood Policy in UK
Jun 28 2019 // JBA Risk Management and FloodFlash have formed a partnership to provide event-based flood insurance, which uses parametric triggers for property exposures. The product is an industry first and will provide bespoke...
Universal Property & Casualty Expanding Into Wisconsin
Jun 24 2019 // Universal Insurance Holdings Inc. subsidiary, Universal Property & Casualty Insurance Co. (Universal Property), has received a Certificate of Authority in to operate as a licensed insurance entity in...
Maine Eyes Compensation Fund for Property Crime Victims
Jun 21 2019 // A Maine proposal to more swiftly compensate victims of property crimes has passed a key test in the Senate. The Senate signed off Tuesday on a proposal to create a compensation fund for victims of the crimes. The sponsor,...
North Carolina Insurance Fraud Round-Up: May
Jun 21 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of May 2019. Insurance fraud costs American consumers approximately $80 billion a year. According to North Carolina...
Texas Calls for 2018 Catastrophe Data on Commercial Property, Business Insurance
Jun 20 2019 // The Texas Department of Insurance (TDI) has issued special data call to companies that wrote direct commercial property or businessowners insurance in Texas and to certain farm mutual insurance companies that wrote...
Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS
Jun 20 2019 // Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the...
Data Deficit Remains Key Challenge for Cyber Insurance Underwriters
Jun 18 2019 // While there are “huge opportunities” on the horizon for the cyber insurance industry, cyber insurance underwriters still face the challenge of not having enough historical data to work with. “It’s...
