Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
P/C Commercial Prices Showed Modest Increases in Q2: Brokers’ Survey
Jul 28 2011 // Pricing in the U.S. commercial property/casualty market showed modest increases in the second quarter of this year, compared with the first quarter. That’s according to The Council of Insurance Agents &...
Oklahoma Resident’s Protests Prompt Flood Map Change
Jul 25 2011 // Residents of Lake McAlester in Oklahoma are no longer in a Federal Emergency Management Area flood zone after an uncommon re-mapping of the area. “This is the only area in the state of Oklahoma that has been ever...
Volvo Technology Prevents 27% of Low-Speed Crashes: Insurance Study
Jul 20 2011 // Vehicles are doing a better job of protecting people in crashes, but a new crop of advanced technology aims to prevent many crashes from happening altogether. A new study by the insurance industry’s Highway Loss Data...
XL Insurance Strengthens International Property Business
Jul 19 2011 // XL Insurance, the global insurance operations of XL Group, announced changes in its International Property business, which it said are “in line with XL Insurance’s strategy of providing innovative solutions...
Hawaii Blowhole Death Raises Liability Questions
Jul 19 2011 // The fiancee of the Northern California man who was sucked into a blowhole to his apparent death said there should have been signs warning people of the dangers of the geyser-like creation along a rugged stretch of the Maui...
People
Jul 18 2011 // Bob Shepard, board chairman of Shepard Walton King Insurance Group in Harlingen, was installed as president of the Independent Insurance Agents of Texas for 2011-2012 during the association’s annual business meeting...
Marsh Names Barber to New Role in U.S. Property Practice
Jul 14 2011 // Insurance broker Marsh has named Ryan A. Barber to the newly created role of head of Industry Specialization within its U.S. Property Practice. Barber will be responsible for industry-based risk advisory and insurance...
Midwest Agents Say FEMA Creating Flood Insurance Confusion
Jul 12 2011 // Insurance agents in states along the swollen Missouri River basin say federal officials are causing widespread confusion among property owners by pushing the sale of flood insurance policies that might not cover damage...
Swiss Re Warns Europe of Increasing ‘Soil Subsidence’ from Climate Change
Jul 5 2011 // According to a new study from Swiss Re, “Europe is witnessing a dramatic increase in property damage as a result of soil subsidence.” A new loss model developed by Swiss Re and the Swiss Federal Institute of...
Marsh Risk Consulting Launches Information Protection, IP Coverage
Jul 5 2011 // The protection of critical information and intellectual property (IP) can determine the success or failure of even the most established firms. The advent of cloud computing, social networking, outsourcing, and other modern...
People
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28. David H. Long is now president and CEO. Kelly will continue to serve as chairman of the board of Liberty Mutual Holding...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
People
Jul 4 2011 // Liberty Mutual Group’s Edmund F. Kelly retired from active management of the company on June 28, 2011. David H. Long replaced Kelly as president and CEO. Kelly will continue to serve as chairman of the board of...
Demotech Inc. Identifies 2011 Near National Property/Casualty Insurers
Jul 4 2011 // The original criteria and objective definition for Near National insurance carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one...
Mississippi Property Insurance Rates Leveling Off: Chaney
Jun 24 2011 // State Insurance Commissioner Mike Chaney says property insurance rates in Mississippi have leveled off for the time being. Chaney told a meeting of the Gulf Coast Business Club that more carriers have entered the insurance...
Florida Agents’ Leader Grady Cites Progress, Disappointments on Reform
Jun 23 2011 // For those in the industry, Florida’s recent legislative session was a long march as they tried to navigate through a process that initially promised much in the form of a new governor and strong pro-business...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jun 22 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Tennessee Officials Worried Over Increasing Number of Abandoned Homes
Jun 22 2011 // Officials in Washington County, Tennessee are trying to decide the best way to deal with the growing number of abandoned homes. Of particular concern to officials is that property owners could stop caring for the upkeep of...
People
Jun 20 2011 // Iowa-based United Fire & Casualty Co. announced new executive appointments and the election of four new directors for full terms on its 12-member board. Denver Regional Office Underwriting Manager Jolene Grow was...
Actuaries Learn About Florida Property Insurance Challenges
Jun 20 2011 // Exposed to devastating hurricanes and a surprising influx of sinkholes, Florida may have the most challenging market for homeowners insurance in the nation, panelists told members of the Casualty Actuarial Society Spring...
