property insurance News

Mass. Church Rebounds After 2011 Tornado; Insurance Covers $2M Repair

A year after a tornado downed its steeple, The First Church of Monson Congregational in Monson, Mass., is rebounding.The town’s oldest church became a disaster relief center after the June 1, 2011 storm that destroyed 40 homes in Monson and …

Fraud Charges Against Former Louisiana Sheriff Candidate Dropped

Charges against former St. Helena Parish, La., sheriff candidate Frederick D. Bell of Kentwood for alleged insurance fraud and theft have been rejected by the district attorney’s office. Assistant District Attorney Angel Monistere tells The Advocate the charges were dropped …

Reliance Global Group Launches Mutli-Family Real Estate Product

Reliance Global Group, a subsidiary of Montvale, N.J.-based Empire Insurance Holdings, LLC has launched UniSurance, a new specialty insurance product for the multi-family real estate sector. This program is being offered in response to growing demand from the real estate …

Louisiana Commissioner: Property Insurance Market Has Recovered

Louisiana Insurance Commissioner Jim Donelon told an Alexandria civil club that the state’s property insurance market is “more competitive than ever.” The Town Talk reports Donelon spoke on May 8 to the Alexandria Rotary Club about the recovery of the …

Swiss Re Expands Foreign Coverages Through New Partnership

As part of its expansion into direct-selling insurance to the global company marketplace, Swiss Re has partnered with Royal Sun Alliance (RSA) to offer single carrier property insurance to mid and upper-middle size U.S. companies with worldwide operations. This new …

Severe Weather Has Home Insurers Rethinking Coverages

As weather disasters strike with more frequency, U.S. homeowners first get hit with the destruction or total loss of property. Many are then hit with the unexpected loss of homeowners insurance policies as insurance companies re-evaluate their financial liabilities. After …

Property Insurance Rates Continue to Firm: Marsh

Global property insurance rates continued to firm in the first quarter of 2012 and there are forces at play that will likely continue the trend, according to a report from insurance broker Marsh. Despite the absence of major natural catastrophes …

Damaged Mass. School Delays Reopening, Cites Dispute With Insurer

The reopening of a Roman Catholic school in Springfield severely damaged by last summer’s tornadoes has been delayed because of a dispute between the diocese and its insurer. Officials with the Diocese of Springfield said Tuesday that while they estimate …

Oklahoma to Adopt ACORD Form for Loss Reporting

Oklahoma Insurance Commissioner John D. Doak announced from the 2012 National Tornado Preparedness Summit his intent to standardize Oklahoma’s insurance industry by utilizing ACORD’s 1 – Property Loss Notice form. “This form will allow citizens to fill out one form …

Ohio Property Insurance Rates Expected to Rise After Storms

Ohio’s relatively low rates for property insurance are expected to rise in 2012 due to the damaging storms of recent years. An insurance agent in Middletown in southwest Ohio says Mother Nature has had her way with the state. Gary …