Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Nov 23 2022 // Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according to a commentary from Fitch Ratings Fitch expects double-digit percentage premium...
People Moves: Generali’s GC&C Names Marcato to Lead Financial Lines; BHSI Promotes Taylor for Property in ANZ; Optio Taps Hartford’s Barrett for Financial Lines
Nov 17 2022 // This edition of International People Moves details appointments at Generali’s Global Corporate & Commercial, Berkshire Hathaway Specialty Insurance and Optio Group. A summary of these new hires follows...
Gallagher Acquires NC-based Intellectual Property Insurance Firm
Nov 15 2022 // The global insurance brokerage and consulting firm, Arthur J. Gallagher & Co., has acquired a North Carolina-based intellectual property insurance firm. PIUS, or Patent Insurance Underwriting Services, is considered a...
People Moves: Everest Re Taps AXA XL’s Mann to Lead Casualty, UK; RenRe Promotes Marra to CUO; Lockton Re Names Aon’s Ryan for Retrocession & Property Specialty
Nov 10 2022 // This edition of International People Moves details appointments at Everest Re, RenRe and Lockton Re. A summary of these new hires follows here. Everest Re Names AXA XL’s Mann Head of Casualty, UK Branch Everest...
Insuring Cannabis Summit: 2023 Bringing Lawsuits, Higher Property Rates, More Products
Nov 8 2022 // Powered by InsuranceJournal.tv An increase in new markets, and better brand recognition and distribution from existing markets, has led to more competition in the insuring cannabis space. That’s a good for the...
People Moves: Dale Enters Marine Re With 2 MS Amlin Hires; Chubb Taps AGCS’ Turberville as Head of Hull, Global Mkts.; Argenta Names Blackwell Head of Property
Nov 4 2022 // This edition of International People Moves details appointments at Dale Underwriting Partners, Chubb and Argenta. A summary of these new hires follows here. Dale Underwriting Offers Marine Reinsurance With 2 Hires From MS...
Allstate Q3 Net Income in the Red; Continues Efforts to ‘Restore Property-Liability Margins’
Nov 3 2022 // Allstate Corp. said it recorded a third quarter net loss applicable to common shareholders of $694 million compared to net income of $508 million a year ago during the same time. Allstate’s Q3 combined ratio was an...
As Special Session Nears, Florida Chamber Urges More Property Insurance Reforms
Nov 2 2022 // Florida is in the midst of a swirling storm with a property insurance market that has been described as in free fall. In late August, we marked the 30th anniversary of Category 5 Hurricane Andrew making landfall in South...
Berkley Cooling on Professional Lines, Firing Up Property Cat Re Engines
Oct 26 2022 // Property cat reinsurance: “More.” Professional liability insurance: Not so much. The president and chief executive officer of W.R. Berkley Corp., Robert Berkley, Jr., shared his company’s appetite for...
Property Cat Market to Harden More; Possible ‘Significant Supply Imbalance’: MMC’s Doyle
Oct 21 2022 // While the total impact of Hurricane Ian won’t be realized for some time, the effect on an “already stressed property market will be significant,” said John Q. Doyle, group president and COO of Marsh...
South Carolina Approves Cut in Credit Property Insurance Rates
Oct 18 2022 // The South Carolina Department of Insurance has approved new, tentative rates for credit property insurance in the state. The allowed rates amount to a 9.1% decrease from 2021’s levels, acting Director Michael Wise...
Why Regulatory Interference Drives Property Insurance Market Instability
Oct 17 2022 // Many states are facing a growing affordability and availability crisis in property insurance markets, and it’s not just because of climate change. While climate change is leading to more severe and frequent natural...
How Insurance Carriers Can Survive Hard CAT Property Markets
Oct 17 2022 // There’s no denying it — challenging times are coming for CAT property markets. Truthfully, they’re already here. As I type this article, Hurricane Ian (category 4) is hours away from a direct hit on...
‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America
Oct 12 2022 // European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a...
Opinion: Consumers Pay the Price as Regulatory Interference Drives Property Insurance Market Instability
Oct 10 2022 // Many states are facing a growing affordability and availability crisis in property insurance markets, and it’s not just because of climate change. While climate change is leading to more severe and frequent natural...
CoreLogic To Bring Property Insurance and Restoration Together for INTRCONNECT
Oct 6 2022 // This post is part of a series sponsored by CoreLogic. This January, CoreLogic is combining the power of property insurance and restoration to put on an event unlike any other. As the market’s premier gathering of...
Ian to ‘Significantly Impact’ Property Rates for Coastal States: MarketScout
Oct 5 2022 // Hurricane Ian is going to affect commercial and personal property rates “significantly” – not just in Florida, predicted MarketScout. The Dallas-based insurance distribution and underwriting company released...
Typhoon Noru Makes Landall in Vietnam, Causing Floods, Property Damage
Sep 28 2022 // Typhoon Noru made landfall in Vietnam early Wednesday morning, knocking out power for more than 500,000 households and causing flooding and property damage along the country’s central region. Noru’s eye struck...
Maryland Settles Dispute With Kushner Property Management Firm for $3.2M
Sep 26 2022 // A property management company owned by the family of former President Donald Trump’s son-in-law, Jared Kushner, has agreed to pay a $3.25 million civil penalty and restitution to settle a 2019 lawsuit in Maryland...
Michigan Property Owners, 3M Settle PFAS Case for $54 Million
Sep 23 2022 // A judge has given tentative approval to a $54 million settlement involving 3M Co., a shoe manufacturer and property owners in western Michigan who said their land and wells were contaminated by toxic “forever...
