Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Sansone Named President of XL Group’s North America Property Business
May 15 2014 // XL Group has named Michele Sansone as president of its North America property insurance business and head of its global risk engineering division, XL GAPS. Reporting to Joseph Tocco, chief executive of XL Insurance’s...
China Insurance Regulator Warns Insurers on Investments in Debt
May 14 2014 // Chinese insurers face increasing risks from their investments in property and local government debt as the nation’s economic growth slows, according to a senior regulatory official. The China Insurance Regulatory...
There’s Devils in Big Data, but Help is Available from Inhance
May 12 2014 // Computer technology has revolutionized the collection and use of massive amounts of data, and yet, somewhat ironically, it’s frequently harder to find what one actually needs. Aphorisms abound – “big...
Florida Court: ‘Exploding Corpse’ Not Covered Under Property Policy
May 8 2014 // A Florida circuit court has found that a condominium owner’s property policy did not include coverage for the “explosion” of an advanced decompose body since it did not fall under a name peril listed in...
Louisiana Citizens Insurance Initiates Home Depot Claims Program
May 7 2014 // Louisiana Citizens Property Insurance Corp. will connect its policyholders with experienced, licensed and insured local contractors in a program with Home Depot. The state’s property insurer of last resort says the...
‘Inhance’ Launched to Plug Re/Insurers’ Cat Loss Information Gaps
May 7 2014 // Lloyd’s Old Library was the setting yesterday for the launch of inhance, a new product designed to close gaps in existing models that continue to expose re/insurers – and companies – to unexpected catastrophe...
Missouri Law Bars Contractors from Paying Deductibles on Commercial Property
May 2 2014 // Missouri lawmakers have given final approval to legislation that supporters say is aimed at protecting commercial property. A 2011 Missouri law bars residential contractors who fix roofs or complete other exterior repairs...
Best Affirms State Automobile Mutual and Operating Subs Ratings
May 1 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of State Automobile Mutual Insurance Company and its operating...
U.S. Supreme Court to Decide Fate of Mississippi Fire Protection Fee
Apr 25 2014 // The U.S. Supreme Court will consider May 15 whether to hear an appeal over whether a Mississippi fire protection district can charge a fee for its services to local property owners. Court officials say a decision could be...
XL Group Opens Reinsurance Operations in Middle East; Adds Staff
Apr 25 2014 // XL Group’s reinsurance segment announced the establishment of new operations in Dubai, UAE, to serve the MENA market and act as a regional hub for the business. XL named Mohamad Alali as Senior Executive Officer and...
AIG Expands Cyber Coverage to Include Physical Risks from Cyber Events
Apr 23 2014 // AIG has expanded its cyber insurance offering to include property damage and bodily injury exposures. This new cyber offering provides commercial customers a way to manage physical risks to their operations from cyber...
Mass. Regulator on Boston Bombing Claims, TRIA Reauthorization Effort
Apr 23 2014 // Massachusetts Division of Insurance’s last data call showed that the vast majority of insurance claims stemming from the Boston marathon bombing tragedy have been resolved. The data also revealed that among the 160...
Endurance Appoints Housley as Global Property Insurance Leader
Apr 22 2014 // Bermuda-based Endurance Specialty Holdings has announced that Richard Housley has joined the company this week as Executive Vice President and Global Practice Leader for Property Insurance. He has extensive experience in...
2013 P/C Insurers’ Results Show Net Gain on Underwriting– First Since 2007
Apr 21 2014 // U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average...
Boston Marathon Attacks Convinced Smaller, Midsized Firms to Buy Terror Insurance
Apr 17 2014 // For landlord Peter Zagorianakos, terrorism insurance wasn’t a necessity until the bombs went off last April at the Boston Marathon and revealed a frightening pattern. Two buildings he owns stand within a half-mile...
Great American Broadens Property Endorsement for Social Services
Apr 16 2014 // Great American Insurance Group has enhanced its signature property broadening endorsement for human and social service organizations. The enhanced coverage, offered through its Specialty Human Services Division, is...
Could Washington Landslide Lawsuits Win?
Apr 7 2014 // The warnings could hardly have been clearer. One technical report told of the “potential for a large catastrophic failure” of the 600-foot hillside above a rural neighborhood near Oso, on the Stillaguamish...
Louisiana Property Insurer Announces Public Offering
Apr 1 2014 // 1347 Property Insurance Holdings Inc., a property and casualty insurance holding company offering homeowners and dwelling insurance to individuals in Louisiana through its wholly-owned subsidiary Maison Insurance Co.,...
April Renewals Confirm Reinsurance Rates Continue to Fall: Willis Re Chairman
Apr 1 2014 // “Reinsurance rates began to fall last year,” said Willis Re’s Chairman James Vickers in a telephone interview. The January renewals “saw more reductions, and this has continued in...
New Flood Insurance Law Only Slows Rate Hike for 14K Conn. Property Owners
Mar 27 2014 // Stephen Nelson and Mary Anne Mayo are still struggling with the destruction from Superstorm Sandy, nearly 18 months after it swept through their Westport, Conn., home, taking their first-floor belongings into the Saugatuck...
