Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Amlin Reports 1.4% Drop in Q1 Gross Written Premiums to $1.96 Billion
May 21 2015 // London-based Amlin plc reported gross written premium for the three months ended March 31, 2015 of £1.26 billion ($1.96 billion), compared with £1.27 billion ($1.97 billion) reported for the said period in 2014. At...
Is it Flood or Water Damage – Part IV of Flood, Flood or Flood
May 21 2015 // To review prior articles, links are here for Part I, Part II, and Part III. Part IV What the Insured Said Let’s bring this discussion back full circle to discuss what happened. What did the insured actually mean by...
Louisiana Citizens Property Insurance Corp. Class Action Members Owed $1,640
May 20 2015 // The Louisiana state treasurer is holding money for more than 4,500 people who participated in a class action lawsuit against the Citizens Property Insurance Corp. Treasurer John Kennedy says in a news release that most...
Courts and Carriers Can Misapply the Absolute Pollution Exclusion
May 19 2015 // Never let it be said that an exclusion would or could be misapplied; but the absolute pollution exclusion likely qualifies as the most misapplied exclusion within the commercial general liability (CGL) policy. Reasons for...
1347 Property Insurance Holdings Approved to Write in Texas
May 19 2015 // Property/casualty insurer, 1347 Property Insurance Holdings Inc., which writes business in Louisiana through its subsidiary, Maison Insurance Co., announced it has been granted a Certificate of Authority to write P/C...
MSIG at Lloyd’s Hires Eyres in Property Underwriting; Dougall Heads P&C
May 18 2015 // MSIG at Lloyd’s, the international specialty arm of Mitsui Sumitomo Insurance Group, has appointed Martin Eyres as property underwriting manager and promoted Andrew Dougall as head of property and casualty. Eyres,...
Whirlpool to Pay Arkansas Property Owners for Lost Value
May 18 2015 // Whirlpool has agreed to pay the owners of 49 properties in Arkansas that lost value after it was discovered that a former plant of the appliance-maker had leaked a hazardous chemical into the groundwater for decades. Fort...
Insurers Get Ready to Comply With New Mississippi Property Insurance Clarity Act
May 18 2015 // Property insurers in Mississippi have until October 1, 2015 to respond to the Mississippi Insurance Department’s (MID) first call for homeowners’ insurance policy data that will be used to satisfy the...
Texas Senate Passes Property Claim Litigation Bill
May 18 2015 // The Texas Senate on April 30 passed a bill aimed at stemming the onslaught of property claim litigation that has been occurring with increasing frequency in the state following natural catastrophes. Advocates of Senate...
Fracking, Earthquakes and Insurance: A Collision Course?
May 18 2015 // There is increasing information suggesting that hydraulic fracturing, commonly known as “fracking,” is not all it’s cracked up to be. While it is clear that the resurgence of oil and gas production in the...
Worldwide Facilities Names Altamirano Property Broker in California
May 13 2015 // Worldwide Facilities Inc. has named Marvin Altamirano a property broker in Southern California. Altamirano has more than nine years of experience in placing complex property risks. He has worked as a property broker since...
Flood Insurance Does Not Cover Debris Removal From Insureds’ Land
May 13 2015 // A federal appeals court in Philadelphia recently ruled that a standard flood insurance policy from the National Flood Insurance Program does not cover the cost of cleaning up storm-generated debris not owned by the...
Flood, Flood or Flood! Who Responds: AAIS, ISO or NFIP? – Part III
May 13 2015 // Part III AAIS’s Flood Coverage Endorsement “Flood” becomes a covered cause of loss by attachment of AAIS’s Flood Endorsement CO 1223 (The Flood Endorsement specifically designed for the COP XL is...
WKFC Launches Property Program for $500 Million TIV Risks
May 11 2015 // WKFC Underwriting Managers, a part of RSG Underwriting Managers, has launched a new property program for risks up to $500 million in total insured value (TIV).The program is written on A-XI rated paper and is available in...
Hawaii Residents Awarded More Than $500K in Dust Lawsuit By Jury
May 11 2015 // A federal court jury has awarded more than $500,000 to 15 Kauai residents who say they can’t enjoy their homes because of red dust from test fields operated by DuPont Pioneer. The seven-member jury on Friday awarded...
MSIG at Lloyd’s Appoints Wells, Radbourne in Property and Power Teams
May 8 2015 // MSIG at Lloyd’s has appointed Laura Wells as underwriter, property, and Matthew Radbourne as underwriter, power & utilities with immediate effect. Wells brings over 20 years’ industry experience to MSIG,...
Hannover Re’s Q1 Net Income Increases 20.1% to $311.8 Million
May 6 2015 // During the first quarter, Hannover Re generated net income of 279.7 million euros ($311.8 million), a 20.1 percent increase over the 233.0 million euros ($260 million) reported for the same period last year. “The...
Industry Representatives Examine Potential Claims Issues Following Riots
May 6 2015 // Some 140 vehicle fires, more than a dozen structural fires and nearly 200 arrests were reported in wake of the Baltimore riots that shook the city last week. And more than 200 businesses were damaged during the riots,...
Flood, Flood or Flood? – Part II
May 6 2015 // In case you missed it (and don’t want to begin in the middle of the conversation), here is the link to Part I. Part II AAIS’s COP and COP XL Coverage Forms AAIS’s COP and COP XL are designed and intended...
Verisk Expands Wildfire Risk Service to 3 More States
May 5 2015 // Verisk Insurance Solutions has added Montana, Oklahoma and Wyoming to its FireLine wildfire risk management service. FireLine provides information to insurers to analyze wildfire risk at the individual address...
