Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
LA. SEEKS PROPERTY INSURERS
Oct 27 2007 // LUXURY AND SAFETY Not always the same thing FINDING COMMON GROUND Surplus lines execs debate issues
News Currents
Oct 27 2007 // La.’s $100M incentive program commences Louisiana began taking applications Oct. 2 for a $100 million incentive program designed to get insurers to write more property coverage in the state. The goal of the program...
People
Oct 27 2007 // The California State Compensation Insurance Fund’s Glendale Legal Unit B appointed Katherine Harvey-Edwards to attorney-in-charge. Harvey-Edwards brings 16 years of legal experience to her new post. She was hired as...
Fitch: Calif. Wildfires May Be Largest U.S. Wildfire Insured Loss Ever
Oct 25 2007 // Insured losses from wildfires continuing to spread in Southern California could likely become the costliest catastrophe insured loss event in 2007 and may potentially become the costliest wildfire catastrophe insured loss...
Property Preservation and Highway Safety Projects on Deck in Kentucky
Oct 23 2007 // Kentucky Gov. Ernie Fletcher unveiled an outdoor warning system for residents of four counties below Wolf Creek Dam. A system of sirens would sound a warning throughout Cumberland, Clinton, Monroe and Russell counties in...
DuPont Ordered to Pay Nearly $200m in W. Va. Class-action Lawsuit
Oct 22 2007 // A West Virginia court convicted DuPont of wanton, willful and reckless conduct, and ordered the company to pay $196.2 million in punitive damages for its actions at a former zinc-smelting plant, where residents claimed the...
Florida Property Owners Asked to Vacate Homes Built on Bomb Range
Oct 18 2007 // Some in an Orlando-area neighborhood are being asked to leave their homes as crews search for explosives. The homes and a middle school were built on a former Army bombing range. No one knew until July, when the Army Corps...
Tapco Introduces Vacant Property and Builders’ Risk Programs in Calif.
Oct 18 2007 // Burlington, N.C.-based Tapco Insurance Services Inc. has introduced a vacant property and builders’ risk program to agents in California. TAPCO opened its California location in Los Angeles on Sept. 17, 2007. Program...
Jury Orders DuPont to Pay $55.5 Million to Cleanup West Virginia
Oct 17 2007 // DuPont Co. should pay about $55.5 million for property cleanup claims arising from a West Virginia industrial waste site, a Harrison County jury decided Monday. The decision came in the third phase of a trial in a...
Marsh Expands UK Property Risk Team
Oct 16 2007 // Marsh announced from London that it has appointed Chris Houston as a Senior Consultant in its Property Risk Consulting team. He will provide property risk consulting services to clients in the London area and south of...
Liberty Mutual Enhances Commercial Property Policy
Oct 16 2007 // Liberty Mutual Property, part of the Liberty Mutual Group, introduced a new commercial real estate product, RM Custom Select Commercial Real Estate. This new product features coverage enhancements designed to complement...
AIR Service Assesses Insurers’ Residential Replacement Values
Oct 15 2007 // AIR Worldwide Corp. (AIR) is offering a new service to assess insurance-to-value (ITV) of U.S. residential property portfolios for reinsurance contract renewals. Available for insurers, reinsurers and brokers, the service...
Aug. Enforcement Actions in Texas Result in $205K in Fines, Restitution
Oct 12 2007 // The Texas Department of Insurance enforcement actions that became final during August 2007 include five license revocations, a license denial, and fines and restitution totaling $205,428, the department reported. An order...
Agents Fear N.Y. Coast Insurance Market Worse; Pols Weigh Options
Oct 11 2007 // New York lawmakers are considering taking action to improve coastal insurance availability while insurance agents are telling them they fear market restrictions are worsening. Insurance companies, meanwhile, claim the...
Property/Casualty Insurers to Pay $1.13 Billion in 3Q Cat Claims
Oct 11 2007 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.125 billion for third-quarter property losses resulting from a total of six catastrophes in 11 states, according to preliminary...
Taylor Appointed to Texas P/C Insurance Legislative Oversight Committee
Oct 11 2007 // Rep. Larry Taylor (Friendswood), an insurance agent, was appointed by Texas House of Representatives Speaker Tom Craddick to the Property Casualty Insurance Legislative Oversight Committee. Rep. Senfronia Thompson...
Trinity E&S Offers Vacant Property, Builders’ Risk Programs
Oct 11 2007 // Trinity E&S Insurance Services Inc. of Bermuda Dunes, Calif., has new vacant property and builders’ risk programs available in California, Arizona, Nevada, Oregon and Washington. Vacant property can be written...
Munich Re Changes Model in Push for More U.S. P/C Business
Oct 10 2007 // Munich Re announced a new long-term “profitable growth strategy” aimed at increasing its share of both direct and broker reinsurance, as well as primary insurance, in the U.S. P/C market. The Group writes more...
Marsh UK Launches $425 Million London Market Property Facility
Oct 9 2007 // Marsh UK has arranged a property facility that will provide up to $425 million of non-catastrophe capacity in the London market for US and Canadian companies. The facility can also be adapted to provide up to $262.5...
Fla. high court affirms insurers need pay for covered perils only
Oct 8 2007 // Florida’s valued policy law means property insurance companies are only responsible for actual damages caused by perils that are specifically cited in the policy, the Florida Supreme Court has affirmed in a key...
