Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
People
Dec 5 2010 // Frost Insurance in Austin, Texas promoted Sheri Smyth to vice president of personal lines. Smyth, a 23-year insurance industry veteran, manages the personal lines department’s growth and retention efforts, and...
Louisiana Citizens Sheds Homeowners Policies
Dec 5 2010 // Louisiana Citizens Property Insurance Corp. (Citizens) has held a fourth depopulation offering in which 13,500 policies have been assumed by the private insurance market, according to state Insurance Commissioner Jim...
State Property Insurance Plans Face Increased Exposure
Dec 5 2010 // Florida and Louisiana have reduced the number of policyholders covered by their state-run property insurers of last resort since 2008 but non-coastal property owners remain vulnerable to paying for these same...
Louisiana: 63% of Citizens Rebate Still Unclaimed for 2005, 2006
Dec 2 2010 // Nearly $355 million in rebates from Louisiana’s property insurer of last resort has not been claimed and state’s top insurance regulator wants people to know about it. Insurance Commissioner Jim Donelon is...
New Mexico Town Could Be Liable for Residents’ Flood Damage
Dec 2 2010 // More than a dozen Farmington, N.M., residents and businesses have put the city on notice that they want reimbursement for damages caused by flooding in August. Some 14 claims have been filed, meeting a 90-day deadline to...
Insurer Group Says Louisiana Property Market Shows Signs of Strength
Dec 1 2010 // The number of Louisiana property insurance consumers who benefit from the lower rates offered by private insurers is growing as the state’s Citizens Property Insurance Corp.’s (Citizens) depopulation program...
Zurich Expands Property Portfolio Protection for Construction Businesses
Nov 30 2010 // Zurich has expanded its its Property Portfolio Protection (P3) for the construction industry. P3, an alternative to ISO forms, offers Zurich’s rates and language that includes more than 36 additional coverage...
Louisiana Citizens Sheds Homeowners Policies
Nov 23 2010 // Louisiana Citizens Property Insurance Corp. (Citizens) has held a fourth depopulation offering in which 13,500 policies have been assumed into the private insurance market, state Insurance Commissioner Jim Donelon...
Best Affirms Assurant and Subsidiaries Ratings; Outlook Stable
Nov 22 2010 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of...
HCC Insurance Holdings Hires Team for Technical Property Division
Nov 19 2010 // Houston-based HCC Insurance Holdings Inc. has hired Frank Pedicini and Frank Argondizzo to lead the company’s new technical property division based in New York, N.Y. Combined the two bring more than 52 years of...
Property/Casualty Insurance Premiums Grew Modestly in Q3
Nov 18 2010 // The U.S. property and casualty industry continued to experience modest growth in premiums written while essentially breaking even on underwriting with a calendar year combined ratio of approximately 100 percent, according...
Chubb Enhances Insurance Package for Cultural Institutions
Nov 18 2010 // The Chubb Group of Insurance Companies has expanded the features available under its Customarq for Cultural Institutions package policy. The policy is available to not-for-profit cultural institutions, including botanical...
ACE USA Restructures Retail Operations with Kinsella, Church, Stoer
Nov 16 2010 // Ace USA, the U.S.-based retail operating division of the ACE Group, announced a new structure and senior leadership appointments. The structure consists of two zonal operations and a centralized complex risk unit for...
Insurance Mergers Complicated by Economy, Low Valuations, Hidden Risks
Nov 15 2010 // With organic growth difficult in the current economy and soft market, there could be an increase in insurance industry merger and acquisition activity over the next 12 to 18 months, according to mergers and acquisitions...
Report Confirms Florida Sinkhole Insurance Woes are Deep, Spreading
Nov 12 2010 // A new state report confirms sinkhole insurance claims are rising in Florida, costing insurers millions of dollars in payouts and expenses, cropping up in counties where they have not been a problem in the past, and showing...
The Hartford Broadens Equipment Rental, Sales Businesses Coverage
Nov 11 2010 // Equipment suppliers often have protection needs that extend beyond the scope of a traditional property policy. Whether a business rents tents and tables for special events, sells industrial machinery or leases high value...
Fremont Recommends Use of Hunting Hold Harmless Agreements
Nov 11 2010 // Property owners who allow others to hunt deer on their property are advised to use a Hunting Hold Harmless Agreement to help mitigate damages that may result from a claim, according to Fremont Michigan InsuraCorp...
Illinois Disciplinary Actions Include License Denials, Suspensions, Fines
Nov 11 2010 // Illinois Department of Insurance Director of Insurance Michael T. McRaith has issued the following disciplinary orders for September and October 2010: Shango D. Johnson, Chicago – Insurance producer license suspended...
Miller to Head E&S Property Business for Torus
Nov 9 2010 // Specialty insurer Torus appointed Catherine Miller to head of E&S General Property. Based in Jersey City, Miller will manage general property business written through wholesale brokers throughout the United...
Abandoned Properties in Louisiana a Growing Problem
Nov 9 2010 // In Rapides Parish, Louisiana, officials know they have a problem with abandoned, rundown properties. That poses another problem: what to do with them. As economic conditions have stagnated, rising numbers of properties...
