Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
AIR Worldwide Estimates $65B – $75B in Texas Property Damage from Harvey Flooding
Sep 7 2017 // Boston-based catastrophe modeling firm AIR Worldwide has estimated property losses from the flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between $65 billion and $75 billion. These...
New York’s BOLT Solutions Hires Temple as Managing Director
Sep 5 2017 // BOLT Solutions Inc., a New York-headquartered provider of an online distribution and customer support platform for the property and casualty insurance industry, has hired Tom Temple as managing director of business...
Breaking the Silence: Cyber Physical Cat Models Emerging
Sep 4 2017 // A frightened truck driver dodging a barrage of bullets fired from the assault rifles of a drug-smuggling criminal gang doesn’t seem like the obvious description of the final stages of a cyber attack. But the...
Tallying Massive Costs of Harvey to Victims, Insurers, Taxpayers and Economy
Aug 31 2017 // Hurricane Harvey’s costs to the victims in its path, to U.S. taxpayers, to insurers and to the economy were still being calculated on Wednesday, with few firm estimates available yet. Texas could need more than $125...
Law’s Ambiguity a Source of Mixed Messages Over Texas Cat Claims Statute
Aug 30 2017 // Ambiguity surrounding a Texas law that goes into effect on Sept. 1 has insurance industry representatives and attorneys who represent insurance policyholders sending conflicting messages to insureds who may have suffered...
Insurers Deploy Drone Fleets to Speed Harvey Disaster Recovery
Aug 30 2017 // Fleets of commercial drones are primed to hover over the destruction from Tropical Storm Harvey in an unprecedented test of unmanned aircraft’s ability to assess billions of dollars in damage for the insurance...
Texas Regulators Offer Guidance to Insurers on Harvey Response
Aug 29 2017 // The Texas Department of Insurance has issued several bulletins offering guidance to insurers related to Hurricane Harvey, which made landfall near Rockport, Texas, late on Aug. 25. The bulletins are in response to the...
Hurricane Harvey’s Flood Insurance Losses Could Match Katrina’s
Aug 28 2017 // Flood damage in Texas from Hurricane Harvey may equal that from 2005’s Hurricane Katrina, the costliest natural disaster in U.S. history, said an insurance research group on Sunday. As heavy rain pounded Houston and...
Online Property Management Service Cozy Takes On Renters Insurance Market
Aug 22 2017 // The renters insurance market has been a hard nut to crack for the industry, but an insurance carrier and online rental service platform hope their partnership may be the secret to breaking through. Cozy, an online property...
Florida Regulators Set Date for Citizens Public Rate Hearing
Aug 15 2017 // The Florida Office of Insurance Regulation (OIR) announced it will conduct a rate hearing on Aug. 31, 2017 to receive public comment on Citizens’ proposed rate changes for its business in the Coastal Account (CA),...
USI Southwest Names Glover Property/Casualty Practice Leader for North Texas
Aug 11 2017 // The Southwest region of USI Insurance Services (USI) appointed Joshua Glover as the property/casualty practice leader for North Texas. Glover will be based in USI’s Dallas office, reporting to Jack Wagner, USI...
Liberty Mutual Enhances Commercial Insurance Property Form
Aug 9 2017 // Liberty Mutual’s has launched a new proprietary Premier Property Protector all-risk policy to accommodate all of a broker’s single carrier and shared and layered property coverage needs. According to Mike...
Berkshire Hathaway Reports Losses on Re/Insurance Underwriting in Q2
Aug 7 2017 // Warren Buffett’s Berkshire Hathaway insurance and reinsurance businesses lost money or gained less in underwriting in the second quarter and first six months of 2017 compared to last year while his railroad,...
Florida Office of Insurance Regulation Appoints New Chief of Staff, Deputy Commissioners
Aug 3 2017 // Florida Insurance Commissioner David Altmaier has appointed Michael Yaworsky as the new chief of staff for the Florida Office of Insurance Regulation (OIR), replacing former Chief of Staff Belinda Miller, who retired at...
Oklahoma Property Among Most Contaminated in Nation, EPA Says
Aug 2 2017 // The U.S. Environmental Protection Agency is proposing to add a property in central Oklahoma to the Superfund program’s list of most contaminated sites. The EPA announced Monday its intent to add Eagle Industries in...
Ironshore Taps Berkley Re Property Treaty Execs for Pembroke’s Patria Re Portfolio
Jul 18 2017 // Ironshore International’s Pembroke Managing Agency Ltd. has appointed two treaty property leaders to join the Patria Re underwriting team. Nicolas Benardout has been appointed divisional director while Jack Bunting...
Property Damage from June Storms in Omaha Area Could Hit $400M
Jul 17 2017 // Property damage claims from separate June storms in the Omaha, Neb., area could top $400 million. The Omaha World-Herald reports that an estimated 52,000 could be filed from June 16 and June 29 storms. State Farm...
People
Jul 10 2017 // Kansas City-based insurance broker Lockton has named Jeff Henningsen as president of its Houston property/casualty insurance operation. Henningsen will take on an expanded leadership role in business development for the...
Injuries, Property Damage Reported from Tornadoes in Iowa, Wisconsin
Jun 30 2017 // Thunderstorms that spun off tornadoes as they rumbled across Iowa injured at least two people, mowed down crops and damaged homes and farm buildings. In Wisconsin, at least one person was reported injured, as...
Intellectual Property Risks May Not Be Covered by Traditional Products: TMK Expert
Jun 29 2017 // Many clients are unaware that intellectual property (IP) risks are frequently inadequately covered by traditional insurance products and, as a result, they actually could be “dangerously underinsured” due to...
