All the headlines from our Property Topic Page, ordered by recency.
Nov 13 2012 // Among the hundreds of bills filed by Texas lawmakers on the first day of filing for the 2013 legislative session are a handful of proposals related to property/casualty insurance.There are bound to be more, but one...
Nov 12 2012 // Louisiana’s state-run property insurer of last resort is $56 million in the red, after it covers claims for Hurricane Isaac and settles class-action lawsuits for improper handling of past storm claims.Steve Cottrell,...
Nov 7 2012 // 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...
Nov 6 2012 // Susanne Sclafane has joined property/casualty insurance media company, Wells Media Group, as Senior Editor. In her new position, Sclafane will be in charge of improving the company’s content and services to meet the...
Nov 5 2012 // It seems that every year commercial property is one of the top three lines of business generating errors and omissions (E&O) claims against agents. Because most agents insure a fair number of commercial buildings, this...
Nov 5 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
Nov 5 2012 // The government says the number of violent crimes rose by 18 percent in the United States while the rate of total property crime increased 11 percent, from 125.4 to 138.7 victimizations per 1,000 households between 2010 and...
Nov 5 2012 // 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,...
Nov 5 2012 // The government says the number of violent crimes rose by 18 percent in the United States while the rate of total property crime increased 11 percent, from 125.4 to 138.7 victimizations per 1,000 households between 2010 and...
Nov 5 2012 // William Gibson coined the phrase “cyberspace” in his popular science fiction novel “Neuromancer” “to describe the real and cultural dynamics of people and machines working within the confines...
Nov 5 2012 // OSC, an insurance and risk management services and products provider for large and small financial institutions, has launched a Tenant Policy Offering (TPO) protection program for owners of rental properties. TPO pairs...
Nov 2 2012 // Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued operational viability of that “non-related” entity. Their dependence on...
Nov 2 2012 // As the insurance industry makes assessments for superstorm Sandy’s impact, analysts say there is now the potential for significant business interruption (BI) and contingent business interruption (CBI) losses.Fitch...
Nov 2 2012 // Although not nearly on the scale of Hurricanes Katrina and Rita in 2005, Hurricane Isaac caused a surprising amount of damage in Louisiana despite the fact that it was only a category 1 hurricane, the weakest category by...
Nov 1 2012 // American International Group Inc. earned a larger-than-expected profit during the third quarter, due in part to big gains on its investment holdings.Questions about the sustainability of those profits, and uncertainty...
Nov 1 2012 // S.A.C. Re Ltd. has filled several key management posts in its property reinsurance, finance and risk management teams.Kathleen Reardon has joined Bermuda’s SAC Re as chief underwriting officer for Property, and will...
Oct 24 2012 // Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics has added an enhancement to its Foreclosure Alert that identifies if a property has previously been in foreclosure at the point of sale....
Oct 23 2012 // Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the state-backed insurer in December, adding to the 210,000 policies already slated for removal...
Oct 22 2012 // AIG Insurance Co. will pay an estimated $25 to $30 million owed to California beneficiaries of life insurance policies, and an $11 million settlement payment.California Controller John Chiang began auditing AIG’s...
Oct 22 2012 // A move by Florida’s largest property insurer to dismiss employees responsible for investigating wrongdoing drew criticism last Thursday from Gov. Rick Scott.Scott, in a strongly-worded letter to the president of...