Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
AIG Reports 17% Increase in Profit; Issues First Dividend Since 2008
Aug 2 2013 // American International Group Inc. announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 percent after the bell. The insurer, which was almost wiped out by...
P/C Industry Faces Challenges If Terrorism Coverage Not Renewed: Fitch
Aug 1 2013 // If Congress fails to renew or makes significant changes to the federal government’s terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
Hartford’s Q2 Loss Widens to $190M; P/C Earnings Show Improvement
Jul 30 2013 // The Hartford Financial Services Group reported a net loss of $190 million for the 2013 second quarter. The quarterly loss widened compared to the same time a year ago, when the insurer reported a net loss of $101...
Mississippi School Districts Shocked By Property Insurance Hikes; Cat Losses Cited
Jul 30 2013 // Property insurance premiums have skyrocketed for Pine Belt school districts. Some have had problems just finding a company to insure them. Lamar County School District Superintendent Ben Burnett told the Hattiesburg...
New Jersey Flood Victims Face Difficult Buyout Decision
Jul 29 2013 // Bob and Pat Smith have seen many floods in their 47 years on Water Street, but none as severe as in Superstorm Sandy. Last year’s storm waters rose halfway up their front door and left a debris field of mud and mold...
Louisiana Parish not Responsible for Property Lost in Hurricane Fire
Jul 26 2013 // Jefferson Parish in Louisiana cannot be made to pay for belongings lost in a rented house that burned down at the height of Hurricane Gustav while the sheriff tried to put out the fire with a garden hose, a judge has...
ACE Appoints Talbott President of North America Property & Specialty Lines
Jul 22 2013 // The ACE Group promoted Derek Talbott to division president, North America Property & Specialty Lines. Talbott succeeds Paul McNamee, who has been named deputy president of ACE’s Asia Pacific region. With more...
West Virginia Property Insurance Market Stable
Jul 22 2013 // West Virginia property owners in general didn’t see a huge uptick in insurance premiums after making claims from last summer’s massive windstorm, state data shows. Figures compiled by the state insurance...
Hill to Lead ACE Group’s International Property Business
Jul 19 2013 // The ACE Group has appointed Jarrod Hill to Executive VP and Head of International Property for ACE’s Overseas General business, effective September 1, 2013. He will have responsibility for all of ACE’s retail...
Montana Tornado Damages Property, No Injuries
Jul 18 2013 // Roosevelt County officials are assessing the damage done by a tornado that touched down about 20 miles north of Poplar, Mont. Emergency services coordinator Dan Sietsema says at least two farm sites were hit by the tornado...
ACE Expands Catastrophe Capacity in North America
Jul 15 2013 // The ACE Group has increased catastrophe limits to $30 million across all its North American retail and wholesale broker-distributed commercial property lines of business. This capacity will be offered through ACE’s...
Huge Post-Sandy Tax Increases Fail to Materialize
Jul 15 2013 // With all the fears that Superstorm Sandy created, here’s one that never materialized: huge tax increases to make up for property destroyed along the coastlines of New Jersey, New York and Connecticut. Waves of...
Louisiana Officials Want to Speed up Disposal of Blighted Property
Jul 11 2013 // With thousands of properties caught in a three-year legal holding pattern, Baton Rouge, La., and other officials across the state want the New Orleans treatment on dealing with blight. New Orleans already secured a state...
New Jersey Court Rules Against Homeowners in Dune Dispute
Jul 8 2013 // A New Jersey town can present evidence of the benefits of building dunes as storm barriers when homeowners with beachfront properties seek compensation for losing their ocean views, the state’s highest court...
Erie Insurance Announces Property Development Plan for Downtown Erie, Penn.
Jul 2 2013 // Erie Insurance announced Monday that beginning this summer, the company will begin development of several properties that it recently bought near its headquarters in downtown Erie, Pennsylvania. The plan includes building...
U.S. Property Cat Re Prices Down, Casualty Softening: Willis Re
Jul 2 2013 // Reinsurers are taking “robust defensive measures to maintain market positions recently eroded by new capital markets entrants,” with prices down 25 percent on some Florida property accounts, according to a new...
West Virginia Property Insurance Stable Despite 2012 Storm Payouts
Jul 1 2013 // West Virginia property owners in general didn’t see a huge uptick in insurance premiums after making claims from last summer’s massive windstorm, state data shows. Figures compiled by the state Insurance...
P/C Insurers Turned Profit on Underwriting in Q1, Attained Record Surplus
Jun 24 2013 // First quarter results for U.S. property/casualty insurers show they made a profit on underwriting for the first time since late 2009. Private U.S. property/casualty insurers’ net income after taxes rose to $14.4...
Rate Hikes on Agenda for Florida’s Citizens Insurance
Jun 24 2013 // Florida’s largest property insurer, already under fire for everything from recent business deals to how much it pays its executives, is readying another round of rate hikes for homeowners. The board of Citizens...
