Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
$275M in Louisiana Property Insurance Assessment Refunds Unclaimed
Aug 30 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. The assessments were imposed on...
5 Years After Katrina Gulf Coast Building Codes Still Inadequate
Aug 30 2010 // Five years ago, Hurricane Katrina caused an estimated 1,300 tragic deaths as well as $41.1 billion in insured losses across six states. Louisiana and Mississippi suffered the brunt of Katrina’s wrath followed by...
Hurricane Katrina Changed the Market in Gulf States
Aug 27 2010 // Writing about the landfall of Hurricane Katrina five years ago, essayist Ellis Anderson of Mississippi likened the communities along the gulf to a string of pearls. “Then, in August 2005, in the course of a single...
Florida Insurance Department to Survey on Sinkholes
Aug 23 2010 // Starting this month, the Florida Office of Insurance Regulation is going to begin surveying Florida property insurers about their experience with sinkhole claims, in an effort to get to the bottom of the simmering...
S&P: The Worst Not Over for U.S. Commercial Property Markets
Aug 23 2010 // The slump in the U.S. commercial property market didn’t quite plumb the depths of the downturn in residential real estate, but although there are signs that home prices are nearing the bottom, commercial real estate...
2010 Education & Training Directory
Aug 16 2010 // Insurance Journal is pleased to publish the 2010 Education and Training Directory. This exclusive resource directory has been designed to help independent agents and brokers find educational and training opportunities to...
Florida Poll Shows Widespread Concern Over Property Coverage
Aug 13 2010 // The Florida Chamber of Commerce says that a poll they had conducted shows Florida voters put grave importance on efforts at property insurance reform. The poll, which was supported jointly by the Chamber and the Property...
E&S Wrap Up: Broker Mergers, Expansions and Start Ups
Aug 12 2010 // As goes the circle of life, so goes the wholesale insurance broker world. Not even the sixth year of a soft market cycle has deterred industry veterans from launching new wholesale businesses or creating larger ones. Many...
Court: Vermont Can’t Collect on Pollution Cleanup
Aug 11 2010 // The state of Vermont can’t collect from a succession of owners of a property in downtown Barre that was polluted by a former dry cleaning shop, the Vermont Supreme Court has ruled. The justices on Friday upheld a...
Chartis Increases Offshore Energy Property Capacity to $200 Million
Aug 10 2010 // Chartis has increased its underwriting capacity from the Oil Rig unit of its Global Marine and Energy Division from $150 million to $200 million. This substantial increase highlights the Chartis insurers’ commitment...
Berkshire Hathaway Profit Down on Derivatives But Insurance Way Up
Aug 9 2010 // Warren Buffett’s Berkshire Hathaway Inc. said Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts. Operating profit nevertheless soared 73 percent,...
State Insurance Commissioners Warn on Keeping Vacant Homes Insured
Aug 9 2010 // As the U.S. housing market struggles to rebound, many homeowners are stuck with hard-to-sell properties longer than expected. Some frustrated home sellers who must relocate for a new job opportunity, want to downsize or...
Willis Launches PatentWize to Help Manage Intellectual Property Risk
Aug 9 2010 // Willis Group Holdings is partnering with Innography to launch Willis PatentWize, an enterprise-wide business intelligence solution that is part of Willis’ overall plan to help companies better manage their...
Cincinnati Financial Q2 2010 Income Up from Previous Year
Aug 5 2010 // Cincinnati Financial Corp. saw net income for the second quarter of 2010 rise to $27 million compared with a net loss of $19 million for the same period in 2009. Operating income for the quarter was $42 million compared...
Texas Commissioner Orders $551K in Fines and Restitution in June
Aug 5 2010 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during June 2010 included four license revocations, three license denials, and fines and restitution totaling $551,012. Copies of...
How Claims Service Cultivates Insurance for Trees, Landscapes
Aug 4 2010 // A seed that was planted when one of the owners discovered that a medium-sized tree on his property would cost as much as $10,000 to replace, and that there was not sufficient insurance for it, has blossomed into a national...
New York Raises Property Damage Threshold for Insurance Surcharges
Aug 3 2010 // Good news for New York drivers: They can now damage their cars a little bit more before an insurer can surcharge their policies, thanks to a law change signed this weekend by Governor David Paterson. The law raises to...
Upside of the Downside: P/C Brokers Serve Distressed Property Market
Aug 2 2010 // The vacant and distressed property segment has been a beacon of light for insurers and brokers as the economy has forced the closure of businesses and halted construction projects, resulting in a number of vacant buildings...
People
Aug 2 2010 // MarketScout Wholesale (MSW) has expanded operations opening a new location in Tampa, Florida. Greg Lyons joined MSW to lead Florida operations as a senior broker. Prior to joining MSW, Lyons was a property broker with...
People
Aug 2 2010 // Stephen M. Franz was named senior vice president of Dallas-based managing general agency and wholesale broker Capstone Underwriters LLC. Franz has been with Capstone since 2004. Prior to Capstone, he held positions at all...
