Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
UK Home, Business Property Insurance Payouts Hit $6B in 2023
Apr 15 2024 // Britain’s homes and businesses received 4.86 billion pounds ($6.07 billion) in property insurance payouts in 2023, up 18% from a year earlier, as weather-related home claims hit a record high, the Association of...
kWh Analytics, Aspen Raise Capacity for Property Insurance, Renewable Projects
Apr 12 2024 // kWh Analytics Inc. secured an increase in its capacity agreement with Aspen Insurance to support its property insurance offering for renewable energy projects. With this increase, kWh Analytics can underwrite up to $75...
Ping An Insurance’s Delayed Trust Repayment Shows Lingering Property Woes
Apr 11 2024 // Ping An Insurance (Group) Co.’s trust business delayed repayment on a property-linked investment product, showing how the financial giant’s asset-management operations are still reeling from China’s...
Taiwan Property Insurers Likely to Remain Profitable Despite Quake Losses: GlobalData
Apr 5 2024 // The 7.2 magnitude earthquake that struck Taiwan’s east coast on April 3 caused substantial damage, particularly in Hualien with collapsed buildings and infrastructure disruptions. However, insurers are expected to...
Property Restoration Industry: A Culture in Need of Repair?
Apr 1 2024 // Jatiek Smith, a Bloods gang member convicted on extortion and racketeering charges in New York, blamed ruthless competition and a culture of violence in the fire restoration industry for the accusations made against him by...
New Jersey Property Flood Risk Disclosure Law Going Into Effect
Mar 19 2024 // A New Jersey law requiring residential and commercial landlords and sellers of real estate to disclose any flood history and potential flood risks to prospective renters and purchasers goes into effect Wednesday, March...
Boston Property Manager Sued For Revoking Job Offer for Woman With Breast Cancer
Feb 28 2024 // The Equal Employment Opportunity Commission (EEOC) is suing a Boston property management firm for allegedly violating federal law by failing to provide a reasonable accommodation to a new hire with a disability and...
People Moves: Markel Names Costello as Head of Hull and War; IQUW Strengthens Property Team With 3 Senior Appointments
Feb 21 2024 // This edition of International People Moves details appointments at the insurer Markel and the specialty re/insurer IQUW. A summary of these new hire follows here. Markel, the insurance operations within Markel Group Inc.,...
DEI: Redefining the Paradigm for the Property/Casualty Industry
Feb 19 2024 // The recent billionaire back-and-forth about diversity, equity and inclusion initiatives is a great opportunity to look at why we’re doing DEI, how we’re doing it — and how we can do it better. Bill Ackman...
It’s Time for the Commercial Property Insurance Industry to Adopt Tech Efficiencies
Feb 19 2024 // Buyers of commercial property insurance are facing many challenges. Rates are rising, capacity is becoming scarce (particularly in catastrophe exposed zones), and large programs, often involving dozens of insurers, are...
People Moves: Reinert, Murray to Anchor Everest’s Dedicated Private Equity Practice; Krupczak to Lead US Energy Property at Liberty Mutual
Jan 26 2024 // Liberty Mutual Insurance Appoints John Krupczak to Lead Property for US Energy Liberty Mutual Insurance announced the appointment of John Krupczak to the role of head of US Energy (Property), effective immediately. Part of...
Louisiana Property Initiatives Are Meeting Expectations, Ex-Commissioner Says
Jan 22 2024 // Outgoing Louisiana Insurance Commissioner Jim Donelon said that two initiatives to address the state’s property insurance market are meeting expectations. Companies participating in the Insure Louisiana Incentive...
Markets/Coverages: Hub International Starts Property Practice
Jan 19 2024 // Brokerage Hub International announced Jan 18 that it is today the launch of the HUB Property Practice. Blake Giannisis, who recently joined Chicago-based HUB as executive vice president, will serve as North American...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
Jan 16 2024 // A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate...
North Carolina Rate Bureau Wants 42% Hike in Residential Property Insurance Rates
Jan 8 2024 // The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42% average increase in homeowners insurance rates, to take effect Aug. 1. The rate bureau’s...
Navigating the Hard Market: 4 Strategies for Brokers to Contend with Constraints in Gulf Coast States Property Insurance
Jan 8 2024 // This post is part of a series sponsored by IAT Insurance Group. U.S. coastal areas, particularly Gulf Coast states like Florida, Louisiana and Texas, have been hit hard in the past decade by climate change-related natural...
Markets/Coverages: Rokstone Agrees Binder With Munich Re Syndicate for International Property Portfolio
Jan 5 2024 // Rokstone, the London-based speciality re/insurance managing general agent, part of Aventum Group, announced a binder agreement with Munich Re Syndicate Ltd. (MRSL), to bolster the expansion of its international property...
January’s Property Cat Renewals See Biggest Price Hikes in Turkey, Italy and US
Jan 4 2024 // While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further upward pressure on...
Missouri’s Denali Specialty Expands Investor Property Program to Include Student Housing
Dec 13 2023 // Denali, a wholesale insurance specialist, announced that its Investor Property Program has grown to include student housing. The expansion of Denali’s package insurance for investor properties is well timed. Limited...
Real Estate Titans Battle DeSantis Over China Property Crackdown
Dec 12 2023 // (Bloomberg) — Ron DeSantis rattled corporate America by making Walt Disney Co. a target of his conservative culture wars. Now, the Florida governor’s campaignto rid the state of Chinese influence is fueling a...
