Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Trial to Determine Army Corps’ Liability for Harvey Flooding
May 8 2019 // Residents seeking compensation after their Houston-area homes and businesses were flooded by two federally owned reservoirs during Hurricane Harvey say authorities knew for decades that such an inundation was inevitable...
International General Insurance (IGI) Launches Intellectual Property Insurance
May 7 2019 // International General Insurance Holdings Ltd. (IGI), the specialist commercial insurer and reinsurer, has expanded its growing portfolio of insurance business with the launch of intellectual property (IP) insurance. The...
AmWINS, The Flood Insurance Agency Launch Commercial Property Flood Product
May 6 2019 // AmWINS Group, Inc., in conjunction with its recent acquisition of The Flood Insurance Agency (TFIA), has launched FloodFLEX, a new commercial property flood product designed to eliminate out-of-pocket expenses not covered...
Lighthouse Property Insurance Acquires Louisiana’s Excalibur National Insurance
May 6 2019 // Lighthouse Property Insurance Corp. has acquired Excalibur National Insurance Co., based in Louisiana. Lighthouse CEO and President Patrick White said in a press release that the acquisition “reaffirms...
People
May 6 2019 // National Robert Bauer has joined insurance broker Marsh to lead its U.S. Sharing Economy & Mobility Practice. Bauer will focus on developing and delivering products and services to companies operating in the new...
Prime Property & Casualty Insurance Now Writing Commercial Auto in North Carolina
May 2 2019 // Prime Property & Casualty Insurance Inc. has entered the North Carolina commercial auto markets as an admitted carrier specializing in insurance for distressed and substandard risks. PPCI offers the capacity to insure...
Prime Property & Casualty Insurance Enters New Mexico Commercial Auto Market
May 2 2019 // Prime Property & Casualty Insurance Inc. has entered the New Mexico commercial auto market as an admitted carrier specializing in insurance for distressed and substandard risks. PPCI offers the capacity to insure any...
Gen Re Appoints D’Arcy as Head of International Property & Casualty
Apr 30 2019 // General Re Corp., the reinsurance subsidiary of Berkshire Hathaway, announced that Andrew D’Arcy will become head of Gen Re International Property & Casualty. D’Arcy will relinquish the role of CEO of...
Florida Governor to Sign AOB Reform Bill; Citizens Plans Rate Review
Apr 25 2019 // Florida Governor Ron DeSantis has signaled his support of a property insurance reform bill passed by the Florida Senate Wednesday, saying in a statement Wednesday he will sign the legislation that the insurance industry...
Wading Through Coverage Differences in Expanding Private Flood Insurance
Apr 24 2019 // It has been a long-held insurance axiom that flood is not considered an insurable peril due to its potentially catastrophic nature. Here is what the report, “Affordability of National Flood Insurance Program...
Services, Intellectual Property on U.S.-China Trade Talk Agenda for Next Week
Apr 24 2019 // U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for trade talks beginning on April 30, the White House said in a statement on Tuesday. It said Chinese Vice Premier...
Washington Official Wants to Raise Insurance Tax to Help Fight Wildfires
Apr 15 2019 // With an increasing number of forest fires scorching portions of Washington each year, the Legislature is considering a proposal to create a fund dedicated to preventing and battling wildfires. In March, Commissioner of...
Assignment of Benefits Reform Moves Forward as Florida House Passes Measure
Apr 12 2019 // Assignment of benefits reform legislation progressed in the Florida legislature yesterday. Lawmakers passed House Bill 7065, one of two key pieces of insurance industry-supported legislation – the other being its...
Insurers Oppose Premium Tax to Fund Washington’s Wildfire Prevention
Apr 9 2019 // Lobbyists for the property/casualty insurance industry are trying to prevent a $125 million jump in the state of Washington’s insurance premium tax that would fund wildfire prevention and suppression. The tax would...
Axa XL Expands Inland Marine Coverage with Contractor’s Equipment Offering
Apr 9 2019 // Axa XL’s North America marine insurance business is expanding its inland marine business with a new contractor’s equipment product with a number of new coverages. “Contractor’s need a wider variety...
North Carolina Insurance Fraud Round-Up: March
Apr 9 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of March 2019. Insurance fraud costs American consumers approximately $80 billion dollars a year. According to North...
UK-Based MGA EPUL Launches Coverage Solution for Unorthodox Property Risks in UK
Apr 4 2019 // European Property Underwriting Ltd. (EPUL), a commercial property managing general agent (MGA), has launched “Solutions,” a package of covers specifically designed to address the challenges that brokers face in...
Burst Sewer Pipes, Condos, and Coverage
Apr 3 2019 // We had an interesting question come in this week so I thought I would address it publicly. I’ve edited the question for space and to avoid disclosing any identifiable details. “I live in a condo building. A...
How Disasters, Tax Reform Affected P/C Insurers’ Performance in 2018
Apr 1 2019 // Mainly due to above-average catastrophe losses, the aggregate financial performance of U.S. publicly traded property/casualty insurers deteriorated slightly in 2018, according to a new A.M. Best special report. The...
Today’s Hot Markets
Apr 1 2019 // Telemedicine, Breweries, Intellectual property, Nurseries and Cottage foods Insurance Journal examined industries experiencing changes, challenges, expansions and growth in the past year. Here are five industry sectors and...
