Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
A Wealth of Risks: Serving High Income Clientele
Oct 5 2010 // For insurance agents, there is a lesson to be learned from Hulk Hogan — particularly about the pitfalls of selling coverage to wealthy clients. The well-known, ex-professional wrestler turned reality TV star is suing...
Rep. Taylor Frustrated Over Failure of Windstorm Coverage Add-On
Oct 4 2010 // In Pascagoula, Miss., on the Gulf Coast, agent Laverne Nelson has to get windstorm coverage for her personal property from the state wind pool. That is because in April her property insurer, MetLife Property &...
Some Rezoned Flood Insurance Policyholders Get Price Break
Oct 4 2010 // The nation’s flood insurance program is extending the availability of lower cost policies for some property owners who have been recently remapped into higher-priced areas. Since 2008, many homes and businesses in...
Eligibility for Preferred Risk Flood Insurance Pricing to Be Extended
Oct 4 2010 // Since 2008, many homes and businesses in the United States have been re-zoned on Federal Emergency Management Administration flood hazard maps from low-to-moderate flood risk areas into higher risk areas, and vice versa....
Eligibility for Preferred Risk Flood Insurance Pricing to Be Extended
Oct 4 2010 // Since 2008, many homes and businesses in the United States have been re-zoned on Federal Emergency Management Administration flood hazard maps from low to moderate flood risk areas into higher risk areas, and vice versa....
Schwarzenegger Signs Homeowners Insurance Disclosure Law
Oct 1 2010 // California Gov. Arnold Schwarzenegger has signed into law new rules designed to make it easier for understand their choices when purchasing homeowners insurance. AB2022 will, on July 1, 2011, revise the mandatory language...
Florida Approves 10.3% Rate Hike for Citizens Property
Sep 23 2010 // Florida Insurance Commissioner Kevin McCarty has approved a statewide average homeowners insurance rate increase of 10.3 percent for policies written by the state-backed Citizens Property Insurance Corp. Citizens had filed...
Eligibility for Preferred Risk Flood Insurance Pricing to Be Extended
Sep 23 2010 // Since 2008, many homes and businesses in the United States have been rezoned on Federal Emergency Management Administration flood hazard maps from low-to-moderate flood risk areas into higher risk areas, and vice versa....
Washington Supreme Court: Actual Cash Value Includes Sales Tax
Sep 22 2010 // The Washington Supreme Court has ruled that an insurer is required to pay sales tax when reimbursing a client for the actual cash value (ACV) of damaged property. According to court documents in Laura Holden v. Farmers...
High Value Homeowners Market Healthy Despite Tough Economy
Sep 21 2010 // One of the most important features of writing high net worth business is high value homeowner’s coverage — but these policies can be complicated for agents to understand because they have many more components...
E&O Coverage for Real Estate Agents – Don’t Sell a Home Without It
Sep 20 2010 // Liability Woes Include Misrepresentation, Structural Defects, Legal Errors and More Real estate errors and omissions (E&O) liability coverage is big business. Although the recent property debacle has focused attention...
Adams, James Join RT Specialty Property Team
Sep 16 2010 // Charlie Adams and Angela James have joined the RT Specialty property team in Orange County, Calif. Each brings more than 20 years of experience in the excess and surplus property marketplace. Their expertise in course of...
P/C Insurers Post First Half Profit Despite Underwriting Losses
Sep 16 2010 // Private U.S. property/casualty insurers’ net income after taxes rose to $16.5 billion in first-half 2010 from $6 billion in first-half 2009, with insurers’ overall profitability as measured by their annualized...
RMS Estimates Insured Losses for NZ Quake at $1.5 to $2.5 Billion
Sep 15 2010 // Following detailed analysis of property damage from the Darfield, New Zealand, earthquake, Risk Management Solutions said it “estimates that total insured losses will fall between NZD 2.1 billion (US$ 1.5 billion)...
AAIS Revises Watercraft Coverage Programs, Offers 2-for-1
Sep 13 2010 // Property/casualty insurers now have access to two standardized watercraft coverage programs for the cost of one. The American Association of Insurance Services (AAIS) has released revised forms and new manual rules and...
Florida Arrests Alleged Citizens Property Scammer
Sep 13 2010 // Florida Chief Financial Officer Alex Sink today announced the arrest of Aylin Hernandez, 23, of Miami, for fraudulently diverting mail and stealing payments intended for Citizens Property Insurance Corporation. Hernandez...
Insurance Could End Oregon Civil War Re-Enactments
Sep 7 2010 // A battle over liability insurance coverage for groups using Oregon state property is brewing, and the Northwest Civil War Council is right in the middle of it. In 2009, the Oregon State Legislature passed Senate Bill 311,...
Distressed and Vacant Properties Fill a Void for Insurers
Sep 6 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed in the past couple years as the economy has forced the closure of many...
$275M in Louisiana Property Insurance Assessment Refunds Unclaimed
Sep 6 2010 // More than $275 million in special property insurance assessments have not been reclaimed, and Louisiana policyholders will lose that money if they don’t act before the year is over, according to the Louisiana...
Distressed and Vacant Properties Fill a Void for Insurers
Sep 6 2010 // The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed in the past couple of years as the economy has forced the closure of...
