Latest Property Headlines

ACE USA Launches Supplemental Property Coverage

Jun 20 2008 // Philadelphia-based ACE USA has introduced a new specialty insurance product that provides additional coverage for expenses and losses that stem from an insured’s property loss. Called ACE Supplemental Property, the...

XL Insurance Adds New Green Building Product

Jun 19 2008 // XL Insurance (“XLI”), the global insurance operations of XL Capital Ltd (NYSE:XL) , launched a new green building product to encourage customers who experience a property loss to rebuild using resource...

Insured Property Value in Hurricane-Prone States to Double in 10 Years

Jun 17 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...

Jun 16 2008 // People Dallas-based Colemont Insurance Brokers promoted Su Young to vice president in Colemont’s Texas office. Young joined Colemont in 2001 as part of the Texas financial services team and is located in Houston. She...

People

Jun 16 2008 // Golden Eagle Insurance, a Liberty Mutual Agency Markets regional company, appointed Pete McPartland president and CEO. McPartland comes from General Casualty in Sun Prairie, Wis., where he led insurance operations for QBE...

Super Regional P/C Insurers™

Jun 16 2008 // Multi-State, Players Multi-Line Revealed While many property/casualty insurers referred to themselves as super regionals, the definition of a super regional insurer remained unclear until the Feb. 12, 2007, issue of...

Good Time to Lock in Property Insurance Pricing, Advise Brokers

Jun 16 2008 // Science and technology are converging with risk management to help insurers negotiate the current hurricane season such that it’s now possible to use short-term hurricane forecasts — as few as 10 days out...

Court: Insurer Has Right to Reimbursement for Settlement Monies

Jun 12 2008 // A federal district court in Nevada has ruled that an insurer has a right to reimbursement for settlement monies paid for non-covered damages. In Great American Insurance Company of New York v. Vegas Construction Company,...

Mold: Underwriters Endorsing CGL to Remove Coverage

Jun 11 2008 // Contractors are the target of nearly 2,000 mold-related lawsuits annually according to a 2003 report from toxlaw.com. When accused or sued for injuries and damages resulting from mold, contractors look to their commercial...

HSB InSight Addresses Inadequate Business Property Valuations

Jun 11 2008 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB) is now offering HSB InSight, a new insurance-to-value (ITV) service designed to help insurers address inadequate valuations for business personal property and...

Texas’ April Enforcement Actions Result in $771K in Fines, Restitution

Jun 10 2008 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during April 2008 include nine license revocations, two license denials and fines and restitution totaling $771,165. The today...

California Lawmakers Address Disaster Response, Automative Repair, and More

Jun 6 2008 // California lawmakers recently approved several insurance-related bills, addressing such topics as disaster response and automative repair following a crash. Following is a summary of recent legislation, as provided by the...

U.S. Risk Names Siceloff a Senior Broker

Jun 6 2008 // U.S. Risk Insurance Group Inc. named Mark J. Siceloff as a senior broker with U.S Risk Brokers, the company’s wholesale excess and surplus lines insurance brokerage operations. He will be based in U.S. Risk’s...

Property Casualty Insurers Association Hires Sr. VP of Public Affairs

Jun 4 2008 // The Property Casualty Insurers Association of America (PCI) has hired Marguerite Murer as senior vice president of public affairs. Murer has extensive public affairs experience in both the public and private sectors. She...

Poizner Deploys Fraud Investigators to ‘Summit Fire’ Zones

Jun 2 2008 // Insurance Commissioner Steve Poizner dispatched California Department of Insurance fraud investigators and staff to the Summit Fire zones near Santa Cruz, Calif. to provide assistance to survivors as they face the daunting...

Storm Ready

Jun 2 2008 // Forecasters predict that the 2008 Atlantic hurricane season will be an active one for hurricane and tropical storm formation. The National Oceanic and Atmospheric Administration’s most recent forecast calls for 12 to...

People

Jun 2 2008 // Markel Corp.’s Board of Directors elected Anthony F. (Tony) Markel vice chairman and Paul W. Springman president and chief operating officer. Markel served Markel Corp. for more than 40 years, most recently as...

Insurance Companies Face Global Warming Claims

Jun 2 2008 // Corporations exposed to liability for greenhouse gas emissions The industry is about to enter an era of global warming insurance claims. Scientists have been warning about the impact global warming could have if greenhouse...

Storm Ready

Jun 2 2008 // Forecasters predict that the 2008 Atlantic hurricane season will be an active one for hurricane and tropical storm formation. The National Oceanic and Atmospheric Administration’s most recent forecast sees 12 to 16...

Good Time to Lock in Property Insurance Pricing, Advise Brokers

May 30 2008 // Science and technology are converging with risk management to help insurers negotiate the current hurricane season such that it’s now possible to use short-term hurricane forecasts — as few as 10 days out...