Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Case Watch
Oct 8 2007 // Agent/Broker Liability Lin v. Metro Allied Ins. Agency Tex. App. 1st Dist., Aug. 31, 2007 Insurer liable under DTPA for its agent’s failure to procure insurance.An insured accepted a commercial general liability...
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...
Case Watch
Oct 8 2007 // Agent/Broker Liability Lin v. Metro Allied Ins. Agency Tex. App. 1st Dist., Aug. 31, 2007 Insurer liable under DTPA for its agent’s failure to procure insurance. An insured accepted a commercial general liability...
Ga. Town’s Residents: Property Values Threatened by Waste Plant Odor
Oct 5 2007 // The town of Talmo, Ga., boasts a post office, a volunteer fire department, a few cattle farms, two Coke machines and 500 residents who grew up “on beans and cornbread,” locals like to say. But they have been...
Program Designed to Attract More Insurers to Write Property in La.
Oct 4 2007 // The state is taking applications for a $100 million incentive program designed to get insurance companies to write more property coverage in Louisiana. The goal of the program is to make private insurance more available in...
Md. Task Forces Hears From Industry on Need for Stronger Structures
Oct 4 2007 // Opportunities exist in the public and private sectors to increase the disaster resistance of homes and businesses and contribute to the overall health of Maryland’s insurance market, says Harvey Ryland, president and...
For Small Fla. Insurer, Sunshine State Brings Storm Clouds
Oct 3 2007 // From “Happy Days” to “The Perfect Storm” is how one Florida insurance executive describes her state’s turbulent and defining years between 2003 and 2007 – and she isn’t talking...
No Consensus for Alabama Special Session on Coastal Insurance
Oct 2 2007 // Alabama legislators unveiled a law designed to help the Gulf Coast real estate industry and coastal homeowners hit by high insurance rates but Gov. Bob Riley said there is no current consensus to address it in a special...
D&O, Business Insurance Prices – Except Property – Continue to Drop
Oct 2 2007 // Steady erosion of commercial insurance industry pricing continued during the third quarter of 2007, according to the RIMS Benchmark Survey, a survey of current policy renewal prices as reported by corporate risk...
U.S. P/C Insurers’ Reserving Likely To Remain Prudent, S&P Says
Oct 1 2007 // Will increased competition and lower pricing lead U.S. property/casualty insurers to skimp on reserves? Not according to a report published by Standard & Poor’s Ratings Services. The article, “For U.S....
Fla.’s Citizens Responds to Agents’ Advisory on Coverage Gaps
Sep 28 2007 // Responding to a consumer advisory about potential coverage gaps issued by the state’s independent insurance agents, Citizens Property Insurance Corp. maintained that its basic coverages match what most private...
FBI Report Shows Property Crimes Decrease Again in 2006
Sep 25 2007 // For the fourth year in a row the estimated number of property crimes decreased, according to statistics released by the FBI’s 2006 edition of “Crime in the United States,” a statistical compilation of...
P/C Insurers’ Underwriting Results, Profitability Slip in First-Half 2007
Sep 25 2007 // The U.S. property/casualty insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ surplus (or statutory net worth) slipped to 13.1 percent in...
U.S. fire report: More fires; fewer deaths and injuries; rise in property losses
Sep 24 2007 // Fire departments in the United States responded to an estimated 1.6 million fires during 2006. These fires caused 3,245 civilian deaths and 16,400 injuries, according to the National Fire Protection Association (NFPA). The...
Report: Insurers did not shift wind claims
Sep 24 2007 // A preliminary report from the federal government found no evidence to support allegations that private insurers improperly shifted wind damage claims from Hurricane Katrina onto the federal government’s flood...
News Currents
Sep 24 2007 // Report: Insurers did not shift wind claims p:”Our sample revealed no evidence that wind damages were improperly attributed to flooding,” the Department of Homeland Security reported after reviewing 98 flood...
U.S. fire report: More fires; fewer deaths and injuries; rise in property losses
Sep 24 2007 // Fire departments in the United States responded to an estimated 1.6 million fires during 2006. These fires caused 3,245 civilian deaths and 16,400 injuries, according to the National Fire Protection Association (NFPA). The...
A policyholder bonanza: Texas Supreme Court decides Lamar Homes
Sep 24 2007 // The Supreme Court also disagreed with the district court’s common sense ruling that faulty workmanship that damages the property of a third party is a covered “occurrence,” whereas faulty workmanship that...
People
Sep 24 2007 // The National Association of Professional Surplus Lines Offices selected officers and directors for the trade association’s 2007-2008 term. The new officers are: President – Mary Ellen Rozzell,...
Florida’s no-fault law set to expire Oct. 1
Sep 24 2007 // A three-week Florida special legislative session scheduled to begin Sept. 18 has been postponed, meaning lawmakers will probably not act to halt the Oct. 1 expiration of a key no-fault auto insurance law. The session was...
