Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Multi-Year Trend of Reduced Natural Hazard Activity Continues in 2015
Feb 1 2016 // This post is part of a series sponsored by CoreLogic. Low-Level Hazard Activity Results in Decreased Damage and Loss Totals Looking at the big picture, 2015 was a quiet year in terms of natural hazard activity. Overall,...
California Regulator Looks to Open the FAIR Plan’s Floodgates
Jan 28 2016 // In those periods of respite when the State of California is not rocking and rolling atop its various fault lines, it’s often quite literally on fire. In fact, of the top 10 costliest wildfires in U.S. history,...
Record Western Wildfires a Contrast in Otherwise Quiet Year for U.S. Natural Disasters
Jan 28 2016 // It was a relatively quiet year for natural disasters – except for those living in the Western U.S. Property data provider CoreLogic today released its annual Natural Hazard Risk Summary and Analysis. The report shows...
AIG CEO Says Future Split Possible, But Downplays SIFI Risk; Will ‘Narrow’ P/C Focus
Jan 26 2016 // American International Group (AIG) CEO Peter Hancock, who announced the sale of the company’s AIG Advisor Group and a partial (19 percent) spin-off of mortgage insurer United Guaranty Corp., said AIG is open to...
New Jersey’s Residual Property Insurance Plan Raises Rates
Jan 25 2016 // The New Jersey Insurance Underwriting Association (NJIUA), the state’s residual property insurance plan, has received approval from the Department of Banking and Insurance (DOBI) to implement an overall rate increase...
Property Crimes Down, Violent Crime Up: FBI
Jan 22 2016 // The overall number of property crimes declined in the U.S. while the number of violent crimes rose for the first six months of 2015 compared to 2014. The FBI report — Preliminary Semiannual Uniform Crime Report— is...
Hiscox Adds Property Damage Protection to Terrorism Insurance Product
Jan 22 2016 // Hiscox has enhanced its stand-alone terrorism portfolio by adding new products covering property damage from malicious attacks utilizing nuclear, chemical, biological and radiological (NCBR) devices. Hiscox NCBR policies...
Texas Supreme Court: Loss-of-Use Damages Allowed in Total Loss Cases
Jan 21 2016 // Are loss-of-use damages, such as lost profits, allowed in Texas when an insured has recovered fair market value on a commercial vehicle that is deemed a total loss after an accident? The Texas Supreme Court thinks so,...
Florida’s Citizens Policy Count Reaches Lowest Level on Record
Jan 21 2016 // Florida’s Citizens Property Insurance Corporation announced Jan. 20 that it has reduced its policy count to under 500,000. The company said in a statement that its policy count on Jan. 19 was 484,788, the lowest...
AIG Increases Global Commercial Property Limits to $2.5B
Jan 19 2016 // American International Group, Inc. (AIG) has significantly raised available global commercial property limits to $2.5 billion per occurrence. According to the company, the move responds to the growing demand for capacity...
Louisiana Citizens Property Insurer Plans Rate Changes
Jan 19 2016 // Almost all of the Orleans Parish homeowners who buy coverage from the state insurer of last resort could see their rates drop 6.3 percent if the Louisiana Insurance Department approves proposed rate reductions. The...
Kentucky Drone Suit Challenges Airspace Rules, Privacy Expectations
Jan 19 2016 // A lawsuit filed against a man who shot down a drone over his Hillview, Ky., home last summer seeks to resolve what expectations homeowners have to privacy as their property is seen from the air. The Courier-Journal reports...
Validus Appoints Halsey Vice President, Atlanta Property Manager
Jan 15 2016 // Validus Holdings, Ltd., has appointed Rob Halsey as vice president, Atlanta Property manager. In this new position, Halsey will be responsible for building and maintaining the Validus Underwriters Excess & Surplus...
2016 Insurance Industry Meetings & Conventions Directory
Jan 11 2016 // Welcome to Insurance Journal‘s 2016 Insurance Industry Meetings and Conventions Directory. The information in this directory is taken from a larger database containing additional information on these and other...
Zurich Global Corporate North America Names AIG’s Pickens as Chief Underwriter
Jan 7 2016 // Don Pickens is the new chief underwriting officer for Zurich’s Global Corporate in North America (GCiNA). The position was previously held by Patrick Daley, who will assume a new role as head of Property for the East...
Canopius Adds Breen to U.S. Direct Property Team in New York
Jan 6 2016 // Canopius Group AG, a Zurich-based global specialty lines platform of Sompo Japan Nipponkoa Insurance, has hired Ivan Breen as senior vice president of its U.S. Direct Property team. Breen is based in New York and will...
Capital Stabilizes, Prices Keep Softening During Jan. 1 Renewals: Guy Carpenter
Jan 6 2016 // Reinsurance capital levels stabilized during the Jan. 1, 2016 renewals – showing no growth for the first time in several years – and prices continued to soften, according to Guy Carpenter & Co.’s global...
6 Forecasts for P/C Insurance in 2016
Jan 4 2016 // Some, but not all, experts see an improving U.S. economy in 2016 helping to boost the property/casualty (P/C) insurance sector. Some of these prognosticators are more optimistic than others. But most also anticipate...
California Fire Safety Rule Citations Lag During Severe Drought
Jan 4 2016 // Amid the most destructive wildfire season in more than a decade, California’s firefighting agency amped up its warnings to thousands of property owners who weren’t doing enough to protect their homes by...
Tokio Marine Kiln Appoints Dreblow as Head of Corporate & Commercial Property
Dec 30 2015 // Tokio Marine Kiln (TMK), the provider of specialist and corporate insurance, has appointed Paul Dreblow as head of Corporate and Commercial Property in its London office. The newly created position will see Dreblow...
