Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Global Property, Mortality Protection Gap Hits $500B: Swiss Re
Nov 26 2018 // Households and businesses face a $500 billion global property and mortality protection gap, according to Swiss Re’s latest sigma study. Swiss Re’s report said that the figure illustrates increasing risk...
A.M. Best: National Farmers Union Property and Casualty Ratings Under Review
Nov 26 2018 // A.M. Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of National Farmers Union Property and Casualty...
Keating Expands Property Coverage Options with Monoline, Package Product
Nov 20 2018 // Keating, Inc., a specialty property and casualty wholesale intermediary and program manager, has launched a new in-house monoline property package product. The new program features the monoline property coverage as well as...
Markets
Nov 19 2018 // Fire Protection Contractors Market Detail: McNeil & Co.’s FireWatch Program (www.mcneilandcompany.com) is a comprehensive insurance and risk management program. The program offers specialty insurance products to...
The Rise of Risktech: How Startups Are Saving Lives and Property in Construction
Nov 19 2018 // Construction has a major problem: every year, construction sites suffer $11 billion in losses due to damage from fire and water, worker accidents, and theft. In addition, a fifth of all worker deaths in the U.S. –...
People
Nov 19 2018 // Jackson Sumner & Associates (JSA) has hired Adam Winfree as the company’s Virginia marketing representative. Winfree joins the company as a 13-year veteran of the insurance industry, having worked previously as...
Ratings of Missouri’s Savers Property and Casualty Insurance Under Review
Nov 15 2018 // A.M. Best has placed under review with positive implications the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “bbb+” of Savers Property and Casualty...
Tower Hill Specialty Expands Property Insurance Offerings to Missouri
Nov 15 2018 // Ohio-based insurance provider Tower Hill Specialty LLC says its property insurance products available are now available in Missouri. A subsidiary of Tower Hill Insurance Group LLC headquartered in Gainesville, Florida,...
Swiss Re Taps XL’s LaRocca to Lead Property/Specialty Lines North America
Nov 7 2018 // Swiss Re Corporate Solutions appoints Michael LaRocca as head of Property & Specialty Lines North America, effective November 7, 2018. In this role, LaRocca will be responsible for managing the strategy, development...
5 Hints for Policy Comparisons
Nov 7 2018 // A few weeks ago, we got a question in through IJPro. The agent was asking about the wisdom of having a customer change from a dwelling fire type policy form to a commercial property type of policy. Of course, my first...
Gallagher Buys Majority Stake in UK Property-Owners’ Broker Vasek Insurance
Nov 7 2018 // Rolling Meadows, Ill.-based broker Gallagher announced it has acquired a controlling interest in Purple Bridge Group Ltd., the holding company of UK specialist property insurance provider Vasek Insurance Services Ltd. The...
Lego Wins New Intellectual Property Lawsuit in China
Nov 6 2018 // Lego A/S has won a new intellectual property lawsuit in China after a court agreed with the Danish toy manufacturer that local companies had copied its building blocks and miniature figures under the LEPIN brand. The...
Ohio Supreme Court: Subcontractor’s Faulty Work Not Covered by Contractor’s Policy
Nov 5 2018 // The Ohio Supreme Court in early October ruled that a general contractor’s commercial general liability policy does not cover the faulty work of a subcontractor. In its consideration of Ohio N. Univ. v. Charles...
TWIA’s Request to Hike Liability Limits Denied; Rate Increase Decision Suspended
Nov 5 2018 // Texas’ property insurer of last resort for wind and hail along the Texas coast suffered a couple of setbacks in mid-October when the state’s insurance commissioner denied its request to raise maximum limits of...
Florida Insured Losses from Hurricane Michael Top $2B, And Growing
Nov 1 2018 // Total estimated insured losses from Hurricane Michael have reached more than $2.1 billion, according to the most recent data from the Florida Office of Insurance Regulation. The current number of claims from Hurricane...
Holiday Policy Language: Halloween Edition
Oct 31 2018 // Can I be honest for a minute? I’m not a Halloween fan. It makes my list of favorite holidays right after Columbus Day and before Black Friday. No, I’m not planning on giving you my top ten holiday list...
RenaissanceRe to Acquire Tokio Millennium Re in $1.5 Billion Deal
Oct 30 2018 // Bermuda-based RenaissanceRe Holdings has agreed to pay about $1.5 billion to acquire Tokio Marine’s reinsurance platform (TMR), which includes Tokio Millennium Re AG and Tokio Millennium Re (UK). If closing tangible...
What’s Happening and What Lies Ahead for P/C Insurance Pricing: Moody’s
Oct 30 2018 // The current pricing environment for property/casualty insurers is “modestly positive,” with commercial and personal auto rates rising by mid-to-high single digits, homeowners and commercial property rates...
Ohio Supreme Court: Subcontractor’s Faulty Work Not Covered by Contractor’s Policy
Oct 29 2018 // The Ohio Supreme Court in early October ruled that a general contractor’s commercial general liability policy does not cover the faulty work of a subcontractor. In its consideration of Ohio N. Univ. v. Charles...
15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters
Oct 18 2018 // When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some...
