Most Popular Property Headlines This Year
The most viewed headlines from our Property Topic Page over the last year.
#1 California Sees Two More Property Insurers Withdraw From Market
Apr 18 2024 // California’s already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone...
#2 Ravaged Fort Myers Becomes Magnet for Risk-Taking Property Buyers
Nov 1 2023 // A year after Hurricane Ian ripped through southwest Florida, wealthy risk-takers are transforming one beach town. In Fort Myers Beach, many of the middle-class cottages that once dotted the Estero Island town were wiped...
#3 Florida’s 125% Surge in Property-Insurance Bills Sows Havoc
May 20 2024 // For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped...
#4 Property Rates and Reality Checks
Oct 16 2023 // Property insurance carrier after property insurance carrier is exclaiming that they need 20% here and 15% there and 18% over there. Rates in many parts of the country are already bordering on unaffordable, however. Agents...
#5 Cracks in O’Hare Columns Aren’t Insured Property Damage, Just Bad Product – Court
May 3 2024 // Cracked steel columns are not “property damage,” but are building products that are not covered by a contractor’s general liability policy, the U.S. 7th Circuit Court of Appeals decided in an opinion that...
#6 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...
#7 Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
Jan 16 2024 // A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate...
#8 Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
Nov 22 2023 // After a costly 2023 severe convective storm season in the US, reinsurers underwriting in the regional property catastrophe market are skeptical about providing frequency cover, but their overall appetite remains healthy,...
#9 North Carolina Rate Bureau Wants 42% Hike in Residential Property Insurance Rates
Jan 8 2024 // The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42% average increase in homeowners insurance rates, to take effect Aug. 1. The rate bureau’s...
#10 Property Owner Sued for Negligence in Hiring of Worker With Criminal Record
Apr 24 2024 // April Hurley’s attacker entered her apartment after identifying himself as the building maintenance man — a job he should never have obtained, according to a lawsuit filed Monday that accuses the property owner and...
#11 New Florida Immigration Law Could Worsen Property Insurance Costs
Sep 14 2023 // If Florida insureds and insurers haven’t been pummeled enough by rising costs in recent years, they could soon see another factor that could hit them in the pocketbook. Florida’s tough new immigration law that...
#12 Commercial Property Insurance Market Proving More Stable, Capitalized: USI
Jun 6 2024 // Following last year’s historically challenging property insurance market, 2024 is proving to be “a more stable and capitalized market,” USI Insurance Services reported in its latest Commercial Property...
#13 Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
May 30 2024 // Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the...
#14 Louisiana Governor Signs Package of Property Insurance Reform Bills
May 8 2024 // Louisiana governor Jeff Landry signed a package of insurance reform bills Tuesday aimed at encouraging insurers to write more business in the state’s property market. The legislation, endorsed by Louisiana Insurance...
#15 Property Insurers’ Ratings Under Pressure as Risk Rises, Morningstar Says
Jul 12 2023 // The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said in a research note on...
#16 Berkley CEO: Property E&S Momentum Slows but ‘Some More Hay’ to Be Made
Apr 24 2024 // When it comes to observations of the excess and surplus lines market, there is a difference between the momentum of liability and property lines, said W.R. Berkley CEO W. Robert Berkley, Jr. Addressing some talk that has...
#17 January’s Property Cat Renewals See Biggest Price Hikes in Turkey, Italy and US
Jan 4 2024 // While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further upward pressure on...
#18 Property Restoration Industry: A Culture in Need of Repair?
Apr 1 2024 // Jatiek Smith, a Bloods gang member convicted on extortion and racketeering charges in New York, blamed ruthless competition and a culture of violence in the fire restoration industry for the accusations made against him by...
#19 Vacant Commercial Property Owners Face Sidewalk Liability: New Jersey Supreme Court
Jun 17 2024 // The New Jersey Supreme Court has ruled that all commercial landowners — including owners of vacant commercial lots — have a duty to maintain the public sidewalks abutting their property in reasonably good...
#20 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,...
