Cosmetic damage from wind and hail to homeowner and commercial properties may no longer be covered if insurers opt to use new endorsements, one for homeowners and another for commercial roofs, that are becoming available. The two organizations that standardize …
ISO has added new classifications to its commercial property program to account for the emergence of alternative energy sources. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics. In response to the growing demand for alternative …
Louisiana Citizens Property Insurance Corp.’s board is expected to approve increasing its commercial coverage rates by an average of 45.1 percent statewide this week. Almost all of Citizens’ roughly 5,700 commercial property policies are in the New Orleans area and …
The Louisiana Supreme Court has relieved the state’s property insurer of last resort of the burden of paying a $125,000 penalty for late payment of a claim settlement stemming from Hurricane Gustav in 2008. Instead, Louisiana Citizens Property Insurance Corp. …
Secure Legal Title Ltd., a London-based provider of legal indemnity and title insurance, announced the registration at Lloyd’s of “Secure Legal Title Cover,” which will provide legal indemnity and title insurance for commercial property in the UK and throughout Europe. …
The Livingston Parish School Board will cut the district’s property insurance coverage in half to keep from paying an additional $224,000 in annual premiums. The Advocate reports the board voted unanimously to lower the district’s property insurance policy limit from …
Copper thieves tore out electrical systems at a Wichita industrial park, causing about $750,000 in damage. The theft was reported Sept. 14 at Kamen Industrial Park in Wichita. Police said the vandals stole about 2,000 feet of copper wiring. The …
Cutting property coverage in half could help the Tangipahoa Parish School Board in Louisiana save nearly $60,000 in overall insurance premiums this year. That’s the recommendation from the board’s Finance Committee. The Advocate reports the committee on suggested dropping coverage …
Lexington Insurance Company has introduced Law and Ordinance Upgrade, a new enhancement that is available to Lexington’s higher education, healthcare and commercial real estate property policyholders. In the event of a covered loss, Law and Ordinance Upgrade covers costs to …
Chartis has increased its commercial property per-risk capacity to $1.5 billion on a worldwide basis. This level of capacity had previously been available to Chartis’ North American domiciled clients, underwritten by Lexington Insurance Co. The increased global capacity now supports …
