Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
People Moves: Encova Names Mabe to Board of Directors; JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager
Sep 7 2023 // JM Wilson Promotes Bolhuis to Assistant Property & Casualty Manager JM Wilson has promoted Kristin Bolhuis to assistant property & casualty manager in their Portage, Michigan office. Bolhuis’ responsibilities...
APCIA, RAA Testify Before Senate Committee on Property Insurance Market
Sep 7 2023 // The American Property Casualty Insurance Association (APCIA) and the Reinsurance Association of American together presented testimony in Washington today on the state of of the property insurance market. The presentation,...
The Care and Feeding of Property-Catastrophe Models
Sep 7 2023 // Executive summary: The key to getting useful model results is working with models that fit specific underwriting needs and making sure the models are regularly updated while employing qualitative analysis (in addition to...
NC Appeals Court: Trial Needed After Agent Failed to Disclose Pond on Property
Sep 6 2023 // A North Carolina insurance agent will have to return to court to determine if he or the client acted negligently by failing to disclose details about an insured’s property, the state’s Court of Appeals decided...
People Moves: Sompo Int’l Taps Zurich’s Weiss as Head of Property & Energy, Continental Europe; Inigo Hires Aviation Specialist Harker From Marsh
Aug 28 2023 // This edition of International People Moves details appointments at Sompo International and Inigo Limited. A summary of these new hires follows here. Sompo Int’l Taps Zurich’s Weiss as Head of Property &...
NAIC to Ask for Data to Better Understand Property-Market Availability, Affordability
Aug 21 2023 // The National Association of Insurance Commissioners said at its Summer National Meeting that it plans to collect data from insurers in order to help insurance regulators better understand property markets, especially when...
Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh
Aug 21 2023 // Global commercial insurance pricing rose 3% in the second quarter of 2023, down from 4% in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber rates and continuing challenges in...
Judge Won’t Block Florida Law Banning Chinese Ownership of Property
Aug 18 2023 // (Reuters) – A U.S. judge in Florida on Thursday declined to block the state’s law barring citizens of China and other “countries of concern” from owning homes or land in the state. U.S. District...
People Moves: Gallagher Re Taps Howden’s Posada for LatAm, Caribbean Sales; Dale Hires Pettifer for Property Open Mkt; AXA XL Names Hayzelden for Upstream Energy
Aug 17 2023 // This edition of International People Moves details appointments at Gallagher Re, Dale Underwriting Partners and AXA XL. A summary of these new hires follows here. Gallagher Re Taps Posada from Howden to Lead LatAm,...
Modeler: Insured Property Losses From Lahaina Fire $3.2B
Aug 15 2023 // Catastrophe modeler Karen Clark & Company has issued new estimates showing the insured property losses from the Lahaina Fire in Hawaii to be around $3.2 billion. At least 99 people were killed in Maui’s...
People Moves: Xceedance Names Tiwari President, EMEA/APAC; Chubb Climate+ Appoints Prunier for Int’l Operations; Howden Taps Aon’s Green for Property
Aug 9 2023 // This edition of International People Moves details appointments at Xceedance, Chubb, and Howden. A summary of these new hires follows here. Xceedance Names Tiwari President, EMEA & APAC Xceedance, the Boston-based...
Commercial Property Loans Are So Unappealing Banks Trying to Dump Them
Aug 8 2023 // Banks seeking to sell commercial-property loans are encountering a dried-up market with few options for an easy exit. Lenders including Goldman Sachs Group Inc. and JPMorgan Chase & Co. have been trying to sell debt...
NY Lawmakers Vow to Block Property Insurers from Asking About Subsidized Tenants
Aug 7 2023 // Three New York legislators said they plan on pushing bills next year that would bar property insurers from requesting information about subsidized housing, a practice that discriminates, an NYC news outlet reported. The...
Markets/Coverages: NIP Expands GrowPro Program to Include Agricultural Property
Aug 4 2023 // NIP Group announced the nationwide expansion of its GrowPro insurance program. Originally designed to cater to hydroponic growers, greenhouse operators, nurseries, garden centers, and indoor vertical farm operations,...
NIP Group Expands GrowPro® Insurance Program to Include Agricultural Property, Offering Comprehensive Coverage for Hydroponic Growers, Greenhouse, and Indoor Vertical Farm Operations
Aug 1 2023 // WOODBRIDGE, NJ, August 1, 2023 – NIP Group, a renowned specialty insurance provider, is thrilled to announce the nationwide expansion of its highly successful GrowPro® insurance program. Originally designed to cater...
Global Insurance Prices Continue to Moderate in Q2 With Exception of Property: Marsh
Jul 31 2023 // Global commercial insurance pricing rose 3% in the second quarter of 2023, down from 4% in Q1, according to Marsh, which pointed to two notable trends during Q2: a moderation in cyber rates and continuing challenges in...
People Moves: Schaper Now AIG Global Chief Underwriting Officer; Brough Head of Aspen Marketing, US Distribution; Giannisis is HUB N.A. Property Practice Leader
Jul 27 2023 // American International Group said Christopher Schaper, currently CEO of AIG Re, has been named global chief underwriting officer of AIG, effective as of the closing of the previously announced sale of Validus Re to...
Insurance Technology: Embroker Partners with Dashlane and Cowbell; Betterview and EagleView Launch Property Intelligence Alliance
Jul 26 2023 // Embroker announced a partnership with password-management provider Dashlane and cyber insurer Cowbell to increase customer security and expand cyber liability coverage. “Through Cowbell and Dashlane, we are not only...
Barring Change, Allstate May Exit California Property Market Completely
Jul 25 2023 // The topic of a recent California insurance department workshop was the potential use of catastrophe modeling in ratemaking, but carrier representatives and consumers took the opportunity to air concerns about other...
Arkansas Schools Face 130% Increase in Property Premiums, Seek Financial Assistance
Jul 24 2023 // An Arkansas subcommittee last week approved Gov. Sarah Huckabee Sanders’ request for close to $11 million from the state’s restricted reserve fund to offset costs for school districts facing soaring property...
