Latest Property Headlines

State Farm Files Average 47.1% Increase in Florida Homeowners Coverage

Jul 17 2008 // State Farm Florida Insurance Co., a Florida-only property insurance company, filed an average 47.1 percent homeowners insurance rate increase with the Florida Office of Insurance Regulation on July 16. Ed Domansky,...

Wildfires Bring Demand for Private Firefighters

Jul 17 2008 // Seated behind the wheel of a fire engine, Dave Breglia follows a map dotted with expensive homes threatened by wildfires. His job: protect high-end real estate and save an insurance company millions of dollars. “I...

Delaware County Suspects 9th Arson at Vacant Property

Jul 16 2008 // Delaware fire investigators say a fire at a vacant home in Sussex County earlier this week was intentionally set, the ninth arson at a vacant home in the area over two months. This Monday’s fire was reported around...

S&P Advises Floods Could Lead to Ratings Actions on Midwest-Focused Insurers

Jul 11 2008 // Standard & Poor’s Ratings Services said it does not expect the 2008 Midwest floods to impact ratings or outlooks for the majority of companies that it rates. However, property/casualty writers that are...

House Subcommittee Moves Key Federal Insurance Regulation Bills

Jul 10 2008 // In a big week for insurance lobbyists, a key House subcommittee advanced three major insurance regulatory measures. The U.S. House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored...

Florida Property Insurer Offers Boat Insurance to Members

Jul 9 2008 // Florida-based PURE Risk Management recently launched an insurance program for personal boaters called PURE Watercraft Insurance. PURE provides hull coverage, including coverage for windstorm, on an agreed-value basis, and...

New Web Site Provides Information on Florida’s Property Insurance Issues

Jul 8 2008 // The Florida Catastrophic Storm Risk Management Center launched a comprehensive Web site (www.stormrisk.org) designed to serve as a one-stop shop for citizens, policy makers, the media and others seeking to learn about...

Maryland Court Wrong in Condo Association, Unit Owner Coverage Ruling

Jul 7 2008 // How the Court Overstepped its Bounds and Affected Current Policies and Future Claims A firestorm of confusion and comment was created by a recent Insurance Journal report detailing a recent Maryland Court of Appeals ruling...

Insured Property Value in Coastal States to Double in 10 Years

Jul 7 2008 // In the past three years, the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just over 7 percent, according to a new report released by AIR Worldwide...

Insured Property Value in Coastal States to Double in 10 Years

Jul 7 2008 // In the past three years, the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just over 7 percent, according to a new report released by AIR Worldwide...

Jul 7 2008 // People The National Association of Professional Insurance Agents (PIA) has announced the promotion of Mike Becker to director of federal affairs. Since joining PIA, Becker has managed the day-to-day responsibilities...

Jul 7 2008 // People McQueary Henry Bowles Troy LLP (MHBT) added Jim Anderson as senior vice president in the Dallas-based firm’s property/casualty group. Anderson will oversee the production and account management of...

Find a Silver Lining in the Soft Market

Jul 7 2008 // Strategies From ‘Best Practices’ Agencies Searching for ways to survive and thrive in the soft market cycle? Cultivate untapped customer markets; proactively service renewals; use technology for efficiency and...

People

Jul 7 2008 // Richmond, Va.-based insurance broker Hilb Rogal & Hobbs Co. promoted F. Michael Crowley to president and chief operating officer. As president, Crowley has been responsible for HRH’s retail operations. In the...

Find a Silver Lining in the Soft Market

Jul 7 2008 // Strategies From ‘Best Practices’ Agencies Searching for ways to survive and thrive in the soft market cycle? Cultivate untapped customer markets; proactively service renewals; use technology for efficient...

Florida Rejects Farm Bureau 30% Property Insurance Rate Hike Again

Jul 2 2008 // Florida Insurance Commissioner Kevin McCarty has officially adopted the ruling of an administrative law judge who rejected a 30.3 percent property insurance rate increase sought by Florida Farm Bureau. “Rulings like...

Condo Insurance Requirements Not Cookie-Cutter

Jun 30 2008 // “Given the great interdependence of the unit owners in the stacked unit condominium situation, mandating property insurance for the entire building is the preferable approach.” This one explanatory sentence...

Fire Hydrant Vandals in Mississippi Pose Threat to Property, Lives

Jun 27 2008 // Officials with the Laurel, Mississippi Fire Department are concerned that some recent vandalism to the city’s fire hydrants could pose problems when its time to save property or someone’s life. Fire Chief David...

P/C Insurers’ Underwriting, Investment Results Deteriorate in First Quarter

Jun 25 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in...

Maryland Court Wrong in Condo Ruling

Jun 20 2008 // A firestorm of confusion and comment was created by a June 3, 2008, InsuranceJournal.com exclusive report detailing a recent Maryland Court of Appeals ruling regarding a condominium associations’ requirement to pay...