Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Marsh & McLennan Agency Acquires Michigan’s Cambridge Property & Casualty
Dec 3 2013 // Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., announced the acquisition of Cambridge Property & Casualty, based in based in Livonia, Mich., Founded in 1974, Cambridge provides...
Texas Regulators Post Summaries of Property/Casualty Insurance Bills for 2013
Dec 3 2013 // The Texas Department of Insurance has posted information and brief summaries of selected bills enacted during the 83rd Legislative regular session that relate to property/casualty insurance. The bills listed may require...
Abrahams joins ANV Syndicate 1861 to Head Property Underwriting Group
Dec 2 2013 // ANV Holdings BV, the Dutch headquartered specialty insurance business founded by R. Matthew Fairfield, announced that Mark Abrahams has joined the firm to lead its Property Underwriting team for ANV Syndicate 1861. He has...
2013 State Specialist P/C Insurers Revealed
Nov 18 2013 // State Specialists are often an independent agent’s most reliable and consistent market. These companies are focused on a specific geographic area, understand it and consistently strive to serve it. The Demotech...
Tupelo, Mississippi’s New Residents Could Face Double Charges for Fire Services
Nov 13 2013 // City residents annexed by Tupelo, Miss., in 2012 may see two charges for fire protection when they open their tax bills in less than a month. Property owners living in seven of the 17 volunteer fire departments in Lee...
R-T Specialty Appoints Senior VP for Property Division in New York
Nov 8 2013 // R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group based in Chicago, announced the appointment of Meredith Dyson as a senior vice president for its property division. She is based in R-T Specialty’s...
New Deputy Insurance Commissioners Appointed in Louisiana
Nov 8 2013 // Louisiana Commissioner of Insurance Jim Donelon announced that Executive Counsel Warren Byrd has been appointed to the position of deputy commissioner of the Office of Property and Casualty in the Louisiana Department of...
Horace Mann Announces Property/Casualty Leadership Changes
Nov 7 2013 // Springfield, Ill.-based Horace Mann Educators Corp. has named Stephen P. Cardinal to lead its property/casualty business as executive vice president, effective immediately. Cardinal succeeds Thomas C. Wilkinson, who will...
Insurers Keeping Property-Catastrophe Insurance Price Relatively Flat: NAPCO
Nov 5 2013 // With more than $600 billion in policyholders’ surplus, the insurance industry is very well capitalized in spite of a large loss from Hurricane Sandy last year. But even so, insurers have been keeping the price of...
P/C Insurers’ CFOs Point to Hardening Markets: Towers Watson
Nov 4 2013 // Chief financial officers with leading North American property/casualty insurers believe both property and casualty insurance markets are in the midst of hardening, according to a new North American Property & Casualty...
E&O Insights: What Could Go Wrong When Insuring Habitational?
Nov 4 2013 // Insuring habitational risks has generated more than its fair share of errors and omissions (E&O) claims. While there are a host of issues, consider these specific ones: valuation, ordinance or law coverage and...
AIG’s Q3 Profit Advances 17% to $2.17B; Property/Casualty Sales Decline
Nov 1 2013 // American International Group Inc., the insurer that repaid a U.S. rescue last year, said third- quarter profit climbed 17 percent as underwriting margins improved at the property-casualty business. Net income rose to $2.17...
AIG Hires XL Group’s Maag as CEO of Europe, Middle East
Oct 25 2013 // American International Group Inc. hired Seraina Maag from XL Group Plc to run the Europe, Middle East and Africa region as Chief Executive Officer Robert Benmosche reshapes the insurer’s leadership. Maag, 45, will be...
Missouri Insurance Department Adds Lederer as Property/Casualty Actuary
Oct 24 2013 // The Missouri Department of Insurance announced that Julie Lederer has joined the department as the appointed Missouri property/casualty actuary. Lederer will support the Divisions of Insurance Company Regulation and...
‘Moral Hazard’ Isn’t a Good Reason to End TRIA
Oct 23 2013 // My friend Mark Calabria at the Cato Institute has a good piece in Roll Call that makes the case for allowing the Terrorism Risk Insurance Program to lapse. I’m sympathetic to him in the medium term but, given the...
Aspen Re Forms Rock Re in U.S. for Facultative Brokered Property
Oct 23 2013 // Bermuda-based Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Limited has formed Rock Re, a new dedicated brokered property facultative unit within its US operation. Rock Re “builds on Aspen...
P/C Insurers’ CFOs Point to Hardening Markets: Towers Watson Survey
Oct 22 2013 // Chief financial officers with leading North American property/casualty insurers believe both property and casualty insurance markets are in the midst of hardening, according to a new North American Property & Casualty...
P/C Stock Valuations Unlikely to Improve Much in Near Term: Conning
Oct 10 2013 // While property/casualty insurance stock valuation levels are finally exceeding book values after four years of below-book levels, a near-term return to higher historical valuation levels is unlikely, according to a new...
Taiwan Insurers Have $10 Billion to Invest in Foreign Property
Oct 7 2013 // Taiwan insurers have the financial capacity to invest at least $10 billion in overseas properties after the island’s government relaxed rules in April on real estate investments abroad, according to an industry...
Energy Industry Liability May Cover Contamination Claims from Colorado Flooding
Oct 7 2013 // Colorado residents and businesses face devastating water inundation that many are dubbing a one-in-500-years weather event. Nearly 2,400 square miles were saturated with water causing massive dislocation and loss of life....
