Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Korea Sees Risks to Financial Services Firms From Overseas Property Bets
Dec 11 2023 // Some South Korean financial institutions may be at risk if bets on overseas property sour, the regulator warned, emphasizing that the likelihood of systemic stress is low. “For companies with large overseas real...
Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots
Dec 7 2023 // Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots. Political violence cover, which...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Dec 6 2023 // Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for...
Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
Nov 22 2023 // After a costly 2023 severe convective storm season in the US, reinsurers underwriting in the regional property catastrophe market are skeptical about providing frequency cover, but their overall appetite remains healthy,...
People Moves: Hagerty to Head US Retail Property at Everest Insurance; AIG Hires Navagamuwa as Chief Information Officer
Nov 20 2023 // Roshan Navagamuwa joins American International Group, Inc. (AIG) in December as executive vice president and chief information officer, effective January 1, 2024. AIG is headquartered in New York, N.Y. Navagamuwa joins AIG...
Colorado Legislature Convening to Address Skyrocketing Property Costs
Nov 14 2023 // Colorado Gov. Jared Polis hoisted a red baseball bat and smashed emergency glass in a silly demonstration for a very real crisis, Colorado homeowners are looking down the barrel of a potential 40% jump in property tax...
NAMIC Webinar Recap: Solving for Producer Compliance in Property & Casualty Insurance
Nov 9 2023 // This post is part of a series sponsored by AgentSync. Insights from NAMIC’s compliance webinar presented by AgentSync Solutions Architect Sandy Allen Did you know there were more than 250 changes to insurance...
Honeycomb Insurance, Using Tech to Bypass Property Inspections, Expands to Virginia
Nov 7 2023 // Honeycomb Insurance, a which says its technology eliminates the need for physical property inspections, has won regulator approval to write policies in Virginia. The company, which began operating in 2021, writes in 15...
People Moves: Aspen Taps SiriusPoint’s Mardon as Global Head of Property Catastrophe; CNA Hardy Appoints Marsh’s Berman as Head of Specialty
Nov 3 2023 // This edition of International People Moves details appointments at Aspen Insurance Holdings and CNA Hardy. A summary of these new hires follows here. Aspen Taps SiriusPoint’s Mardon as Global Head of Property...
Ravaged Fort Myers Becomes Magnet for Risk-Taking Property Buyers
Nov 1 2023 // A year after Hurricane Ian ripped through southwest Florida, wealthy risk-takers are transforming one beach town. In Fort Myers Beach, many of the middle-class cottages that once dotted the Estero Island town were wiped...
UK Commercial Property Defaults Rise as Rate Hikes Hit Borrowers
Oct 17 2023 // The number of soured commercial real estate loans has begun to rise in the UK as the rapid increase in interest rates feeds through to property valuations. The overall default rate on UK commercial real estate debt reached...
Property Rates and Reality Checks
Oct 16 2023 // Property insurance carrier after property insurance carrier is exclaiming that they need 20% here and 15% there and 18% over there. Rates in many parts of the country are already bordering on unaffordable, however. Agents...
Tennessee Comptroller Wants More-Frequent Property Appraisals
Oct 5 2023 // Tennessee’s comptroller wants more-frequent property appraisals to keep up with rapidly escalating home prices, a move that could have an indirect impact on property insurance limits and premiums in the...
People Moves: Lockton Europe Taps WTW’s Rowley as Head of N. American Property; Sompo Int’l Names Faugas From AGCS as France Country Manager, Insurance
Oct 3 2023 // This edition of International People Moves details appointments at Lockton Europe and Sompo International A summary of these new hires follows here. Lockton Europe Taps WTW’s Rowley as Head of North American...
MGA iprism Purchases Property-Focused MGA, SK Underwriting
Sep 25 2023 // iprism, the London-based construction, property, commercial and high-net-worth MGA, announced the acquisition of property-focused MGA, SK Underwriting Ltd. for an undisclosed amount. Kent, England-based SK Underwriting was...
Next Florida House Speaker Wants More Property Insurance Legislation, Deliberations
Sep 21 2023 // The next speaker of the Florida House of Representatives, set to take charge in 2025, said he hopes to see more legislation that could further address spiraling property insurance costs. “Do I believe we are done...
Chinese Police Detain Staff of Evergrande Unit as Property Crisis Enters New Phase
Sep 18 2023 // Authorities detained some staff of the money management business of China Evergrande Group, a sign that the saga around the defaulted developer at the heart of the nation’s property crisis has entered a new phase...
New Florida Immigration Law Could Worsen Property Insurance Costs
Sep 14 2023 // If Florida insureds and insurers haven’t been pummeled enough by rising costs in recent years, they could soon see another factor that could hit them in the pocketbook. Florida’s tough new immigration law that...
Property Owners Win Key Ruling Against State of Michigan Over 2020 Dam Failure
Sep 12 2023 // DETROIT (AP) – Property owners seeking to hold the state of Michigan responsible for the disastrous failure of a dam in 2020 have won a critical ruling from an appeals court. The court said claims of “inverse...
People Moves: Encova Names Mabe to Board of Directors; JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager
Sep 7 2023 // JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager JM Wilson has promoted Kristin Bolhuis to assistant property & casualty manager in their Portage, Michigan office. Bolhuis’ responsibilities...
