Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Issuer Credit Ratings of Grinnell Mutual Reinsurance Co. Downgraded
Dec 20 2012 // A.M. Best Co. has downgraded the issuer credit ratings (ICR) to “a” from “a+” and affirmed the financial strength rating (FSR) of A (Excellent) of Grinnell Mutual Reinsurance Co. (Grinnell) and its...
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Dec 17 2012 // Associated Agencies Inc., based in Rolling Meadows, Ill., has promoted Joshua Herz to president, making him the fourth person in the same family to hold the position. Herz succeeds his cousin, Max (Skip) R. Schrayer, who...
Best Affirms Russian Re’s ‘B+’ Ratings; Outlook Stable
Dec 14 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Russian Reinsurance Company JSC (Russian Re), both with...
Report Shows Increasing Concentrations of Insured Property Values in U.S.
Dec 13 2012 // Insured building values in the U.S. now exceed $40 trillion — including residential, commercial and industrial structures, according to a new report from catastrophe modeling firm Karen Clark & Co. When contents...
Deadline Nears to Claim 2008 Louisiana Citizens Assessment Rebate
Dec 10 2012 // Louisiana Insurance Commissioner Jim Donelon and Department of Revenue (LDR) Director of Customer Service Kent LaPlace are reminding property insurance policyholders that time is running out to claim a rebate for the...
$100K Deal Reached in Montana Over Lead-Contaminated Waste
Dec 10 2012 // The owner of a central Montana landfill has agreed to pay the U.S. government $100,000 to settle a civil action over 1,600 tons of earth containing unsafe levels of lead that sat untreated and unprotected for about four...
Aon Risk Solutions Hires 2 Execs for New England Property Practice
Dec 9 2012 // Aon Risk Solutions, the global risk management business of Aon plc, recently announced the additions of Christian Wise as senior vice president and Karen Cangemi as vice president of the company’s New England...
ACE USA Restructures Global Property Division
Dec 6 2012 // ACE USA, the U.S.-based retail operating division of The ACE Group, has reorganized its Global Property division to now include three property insurance units designed to serve the needs of domestic and multinational...
Florida Lawmakers Ponder More Pricing Freedom for Property Insurer Citizens
Dec 6 2012 // Some Florida legislators said this week they would consider giving the state’s largest property insurer more control over its rates, including allowing the company to raise rates to bolster its ability to pay...
Golden Bear Names Brown Property Manager, Takamoto Chief Risk Officer in California
Dec 4 2012 // Stockton, Calif.-based Golden Bear Insurance Co. has promoted Michael Brown to the position of property manager. Brown has been with Golden Bear since 2002 as an executive underwriter. Brown’s promotion follows the...
W.R. Berkley Names President of FinSecure Unit in Baltimore
Dec 4 2012 // Greenwich, Conn.-headquartered W.R. Berkley Corp. announced Michael P. Dandini has been named president of the company’s FinSecure LLC unit. Dandini has nearly 20 years of experience in the property/casualty...
Theft and Vandalism Claims Have Carriers on Edge in Vacant Property Segment
Dec 3 2012 // Insurers are restricting the availability of theft and vandalism coverage in the vacant property insurance market, where there is still plenty of available business. Vacant property provided a boost for some insurers...
Wind Deductibles and Sandy: What It Means for Total Insured Losses
Nov 28 2012 // On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the...
After Sandy, Uncertainty About Real Estate Market, Mortgages, Insurance
Nov 21 2012 // “Reduced for Quick Sale!” reads Mike Montalbano’s Craigslist ad for the three-bedroom home he needs to sell before he can relocate for a new job. The drywall is new, as are the appliances. The only...
Attorneys Discuss Possible Triggers for Business Interruption Coverage
Nov 20 2012 // Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass...
Mass. Independent Agents Have Over $1B Impact on State Economy: Report
Nov 19 2012 // Five years ago, Massachusetts introduced its “managed competition” program — and since then, there has been an influx of direct writing and direct response companies coming into Massachusetts and...
Louisiana Citizens Property Insurance Corp. $56M in the Red
Nov 19 2012 // Louisiana’s state-run property insurer of last resort is $56 million in the red, after it covers claims for Hurricane Isaac and settles class-action lawsuits for improper handling of past storm claims. Steve...
Q&A With Attorneys on Emerging Business Insurance Topics
Nov 13 2012 // As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance...
ISO Adds Alternative Energy Classifications to Commercial Property Program
Nov 13 2012 // ISO has added new classifications to its commercial property program to account for the emergence of alternative energy sources. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics. In response to...
Texas Commissioner: Windstorm Will Be an Issue for Texas Lawmakers
Nov 13 2012 // Among the hundreds of bills filed by Texas lawmakers on the first day of filing for the 2013 legislative session are a handful of proposals related to property/casualty insurance. There are bound to be more, but one...
