Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer
Jan 24 2014 // New technologies and a better understanding of flood risk may have increased private insurers’ interest in providing flood insurance but real obstacles remain to the private sector getting involved. The obstacles...
Reinsurance at Crossroads As New Factors Sweep Away Old Habits
Jan 23 2014 // Part I – The Market in the Developed Economies A significant number of reinsurance treaties were renewed this month, heavily concentrated in property catastrophe coverage. It’s become apparent, however, that this...
Berkshire Hathaway Specialty Expands into Builder’s Risk Segment
Jan 22 2014 // Berkshire Hathaway Specialty Insurance (BHSI) is expanding its property capabilities to include builder’s risk insurance. The company also named Robert Tricamo to head the new specialty property area as vice...
Everest Re’s Special Purpose Reinsurer Reaches $370 Million of Capacity
Jan 14 2014 // Everest Re Group, Ltd.’s special purpose reinsurer, Mt. Logan Re, Ltd., has secured additional funding, which brings current committed capacity to $370 million, above its initial target funding of $250 million. Mt....
Marsh Launches Habitational Real Estate Property Insurance Facility
Jan 14 2014 // In response to the increasingly constricted habitational insurance market, Marsh has created a new property insurance facility designed specifically for those who own or are investors in multifamily...
Insurance Programs of America Adds Lynn Vogel to Hotel Underwriting Division
Jan 14 2014 // Orlando, Fla. (Jan. 14, 2014) – Insurance Programs of America, a nationwide MGA and wholesale brokerage firm, announced a new addition to their hotel underwriting division. Lynn Vogel will be joining IPOA as an...
TWIA Expert Panel Working on Methods to Assess Wind/Water Property Loss
Jan 10 2014 // A panel studying methods to assess property loss incurred as a result of wind versus water forces along the Texas coast expects to have the first of four study components ready for consideration next month. The mission of...
Align Financial Forms Catalytic, Acquires Western RE Stock
Jan 9 2014 // San Diego, Calif.-based Align Financial Group LLC. has formed Catalytic Holdings LLC, a specialist property catastrophe underwriting manager, and Catalytic has acquired the property catastrophe business of Align General...
With Snow Comes Snowplow Damage, Some in Pennsylvania Find
Jan 3 2014 // Winter can be tough, especially on private property, and no one knows that better than Stroud Township, Pennsylvania, resident Pamela Wnuk. She says her property sustained damage after a municipal snowplow driver tore...
In Shickshinny, Penn., Flood-Buyout Program to Continue Through 2014
Jan 2 2014 // Donald Hargraves is flooded with nostalgia when he drives past the Shickshinny, Penn., home he owned for more than five decades but doesn’t regret recently selling the property in a flood-buyout program. “I...
Reinsurance Rates Down by 11% for January Renewals: Guy Carpenter Survey
Dec 30 2013 // Guy Carpenter & Co. has reported that reinsurance rates-on-line fell at the January 1, 2014 renewal in nearly all classes and regions. The reinsurance broker’s global renewal report pointed to “strong...
P/C Insurers Boost Bottom Line on Big Gain in Underwriting Through 9 Months
Dec 23 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $43 billion in nine-months 2013 from $27.8 billion in nine-months 2012, with insurers’ overall profitability as measured by their...
United Property & Casualty Approved to Write in Georgia
Dec 20 2013 // The Georgia Department of Insurance has approved United Property & Casualty Insurance Co. (UPC) to write property/casualty insurance in the state as an admitted carrier. This brings the total number of states in the...
Best Affirms CNA Financial and Subs’ Ratings; Outlook Stable
Dec 20 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of CNA Financial Corporation (CNAF),...
Florida Lawmakers Unveil Plan to Encourage Private Market for Flood Insurance
Dec 19 2013 // With the chances of a federal solution to rising flood insurance rates waning by the day, Florida lawmakers are pressing forward with a bill to create a private market solution to the problem. Florida State Senator Jeff...
Surplus of Capital Continues to Temper Property Rates: Marsh
Dec 19 2013 // The surplus of capital among insurers and reinsurers continued to have an overall softening effect in the U.S. property insurance market through the third quarter of 2013, Marsh said in a report. For the first nine months...
Deadline to Claim 2009 Louisiana Citizens Insurance Rebates Near
Dec 12 2013 // Louisiana Insurance Commissioner Jim Donelon is reminding property insurance policyholders that the clock is ticking on the deadline to claim a rebate for the Citizens Property Insurance Corporation (Citizens)...
Florida Officials Select Meeks as Citizens Property Insurance’s Inspector General
Dec 11 2013 // Florida Gov. Rick Scott and members of the Florida Cabinet announced Bruce Meeks has been selected to fill the newly created post of inspector general for Citizens Property Insurance Corp., the state’s largest...
Some Flood Insurance Rates to Rise in Kansas’ Douglas County
Dec 6 2013 // Some property owners in Douglas County, Kansas, could soon pay more for federal insurance. The federal government’s decision to phase out subsidized insurance in special flood hazard areas will increase costs for 168...
With Focus on Property Crimes and Violence, Dallas Police Write Fewer Traffic Tickets
Dec 5 2013 // Police in Dallas have issued 37,000 fewer traffic tickets as the force puts more resources toward fighting property crimes and violent offenses. Officers wrote more than 211,800 tickets in the fiscal year ending Sept. 30,...
