Latest Property Headlines
All the headlines from our Property Topic Page, ordered by recency.
Florida’s Lighthouse Property Names Bright as Manager of Operations
Apr 4 2013 // Lighthouse Property Insurance Corp. in Orlando, Fla., has promoted Sidney Bright to manager of operations to oversee the insurer’s claims information and policy administration. Before the promotion, Bright served as...
Gallogly Joins Florida’s Lighthouse Property Insurance
Apr 2 2013 // Lighthouse Property Insurance Corp. has named Loren Gallogly as a new manager of sales and marketing charged with expanding the insurer’s sales in South Carolina and Louisiana. Gallogly has 30 years of experience in...
More Than 300K Homes Are Foreclosed ‘Zombies’
Apr 2 2013 // A national survey found 301,874 “zombie” properties dotting the U.S. landscape in which homeowners in foreclosure have moved out, leaving vacant property susceptible to vandalism and degradation. Florida tops...
Hiscox Bermuda Appoints Lazzaro to U.S. Property Cat Team
Apr 2 2013 // Hiscox Bermuda announced that it has expanded its US property catastrophe team with the appointment of Bill Lazzaro as Vice President – Underwriting. He joins Hiscox from Aon Benfield where he held a variety of roles...
How Obamacare Could Affect P/C Insurance
Mar 28 2013 // The key changes in federal health care reform remain months away but property/casualty actuaries are already trying to determine what impact they will have on their own lines of business, particularly workers’...
Louisiana Citizens Borrowing Plan Stalls in Bond Commission
Mar 25 2013 // State officials stalled a decision on whether Louisiana’s property insurer of last resort should borrow $100 million to help close an anticipated budget gap. The Bond Commission, which includes lawmakers and...
Dunes vs. Property Rights in Storm-Battered New Jersey
Mar 21 2013 // The sand dune that ruined Harvey and Phyllis Karan’s view of the ocean allowed their beachfront home to see another day when Superstorm Sandy’s surge crashed ashore. They still want the $375,000 a court awarded...
Louisiana Commissioner Opposes $100M Citizens Insurance Borrowing Plan
Mar 21 2013 // Louisiana Insurance Commissioner Jim Donelon said it’s premature for the state property insurer of last resort to borrow $100 million to help close a budget gap, according to a letter released March...
West Virginia Senate Committee Backs Higher Auto Minimum Limits
Mar 20 2013 // A West Virginia Senate committee advanced a bill this week that would likely increase car insurance premiums for drivers who can least afford it, but also expand liability coverage for the highest-risk drivers. The bill...
Louisiana Citizens Insurance Board Approves Borrowing $100M
Mar 18 2013 // Louisiana Citizens Property Insurance Corp.’s board has voted to borrow $100 million through bonds to cover a $70 million shortfall – in direct defiance of the wishes Gov. Bobby Jindal’s...
Texas Lawmaker Scolds Insurance Industry over Coastal Coverage
Mar 14 2013 // A state senator in Texas is taking the insurance industry to task for what he perceives as its disinterest in coming up with new approaches to solving coastal windstorm insurance issues. In a Senate committee meeting on...
Louisiana Citizens Property Insurance Corp. CEO Retiring
Mar 14 2013 // Louisiana Citizens Property Insurance Corp. CEO Richard Robertson says he plans to retire June 1. Robertson told The Advocate he will return to Michigan. He had been general manager of Michigan Basic Property Insurance...
West Virginia Debates Property Insurance Nonrenewal Rules
Mar 13 2013 // In West Virginia and most other states, an insurer can choose not to renew people’s property insurance policy if a claim is filed over weather damage. A West Virginia Senate bill that would ban that practice was...
Intellectual Property Insurance Launches IP Abatement Product
Mar 11 2013 // Intellectual Property Insurance Services Corporation (IPISC) has launched its latest IP insurance product, InventPro Abatement Insurance, an IP insurance starter plan designed specifically to help inventors and small...
Florida’s Citizens Property Insurance Sued for Denying Wind Mitigation Discounts
Mar 11 2013 // Citizens Property Insurance Corp. purposefully deprived customers of windstorm mitigation discounts through an arbitrary reinspection program that has cost customers nearly $200 million. That claim is the basis of a...
Will Wind/Hail Cosmetic Damage Exclusion Endorsements Become the Norm?
Mar 11 2013 // Cosmetic damage from wind and hail to homeowner and commercial properties may no longer be covered if insurers opt to use new policy endorsements – one for homeowners and another for commercial roofs. Two organizations...
Texas Market Share: Homeowners and Personal Auto
Mar 11 2013 // Top 40 Insurers/Homeowners Based on 2011 Texas Written Premium Rank Company $ Written Premium % of Market 1 State Farm Lloyds $1,678,075,665 28.09% 2 Allstate Texas Lloyd’s 462,398,477 7.74% 3 Texas Farmers Ins....
Texas Windstorm Insurer Faces Tough Legislative Session
Mar 11 2013 // Texas’ property insurer of last resort in coastal counties may have a difficult time remaining intact during the 2013 legislative session. Claims from 2008’s Hurricane Ike still trickle in and ongoing...
Fine Art’s Place in the Insurance Market
Mar 11 2013 // Whether it’s in a museum, gallery or in a high-net-worth customer’s home, fine art and collectible items hold special places in the hearts of insureds. Andrew Gristina, the national segment leader for fine art...
14 Keys to Insuring Water-Related Entities
Mar 11 2013 // Water is a precious natural resource entrusted to water entities across the country. These entities include public and private water companies, irrigation companies, conservation districts and more. They face many...
