All the headlines from our Property Topic Page, ordered by recency.
Sep 7 2009 // A global recession, which has led to layoffs and a sharp drop in consumer spending, has also created a glut of commercial real estate space around the world. Vacated properties are a significant concern because they are...
Sep 7 2009 // A poor economy, natural catastrophes and an extended soft market have all combined to nip growth in the excess and surplus lines (E&S) insurance market over the last year.Although there are a few bright spots at the...
Sep 7 2009 // North Carolina Governor Bev Perdue has signed into law legislation to shore-up the state’s backup coastal insurer and reduce the liability of private insurers should a major catastrophe strike the state.House Bill...
Sep 4 2009 // As the 2009 Atlantic hurricane season enters its peak period, the finances of a number of residual market property plans in hurricane-exposed states are on shaky ground. The credit crunch and prolonged economic downturn...
Sep 1 2009 // Some property owners in Texas coastal counties that seek wind insurance coverage from the Texas Windstorm Insurance Association will be required to buy flood insurance equal to at least 90 percent of the property’s...
Aug 31 2009 // The Tennessee Supreme Court has ruled that the state does not recognize an exception to the economic loss doctrine that generally bars damages if a product defect causes only economic loss and not any personal or...
Aug 27 2009 // North Carolina Governor Bev Perdue has signed into law legislation to shore-up the state’s backup coastal insurer and reduce the liability of private insurers should a major catastrophe strike the state.House Bill...
Aug 26 2009 // Miami-based First Commercial Insurance Co. and its subsidiary have been declared insolvent and ordered liquidated about six weeks after being placed under state control.All policies written by FCIC and its subsidiary,...
Aug 19 2009 // Aon announced that Cordea Savills, the international property fund manager, has appointed Aon to consolidate its current insurance arrangements into a Pan European insurance program, following an extensive tendering...
Aug 17 2009 // A group of coastal South Carolina residents claim in a lawsuit that pollution from an International Paper mill has damaged their health and their properties, multiple media outlets reported Saturday.“International...
Aug 13 2009 // Several weeks ago, MyNewMarkets.com posted a two-part series regarding coverage gaps and selling to those gaps. “Gaps That Sell” and “Three Homeowners’ Policy Gaps that Sell” detailed the...
Aug 13 2009 // Chartis Inc. appointed George Stratts as president and CEO of its Global Marine and Energy Division. Stratts was previously executive vice president of Lexington Insurance Co., a Chartis company, and senior executive for...
Aug 10 2009 // Enforcement actions taken by Texas Commissioner Mike Geeslin that became final during June included 18 license revocations, five license denials and fines and restitution totaling $441,318, the Texas Department of...
Aug 6 2009 // A bill to rescue North Carolina’s coastal insurance plan handily passed the state Senate on Wednesday by a 42-5 vote, the same day it won approval from a Senate committee.Because the Senate version differs from the...
Aug 6 2009 // The Arkansas Insurance Department has posted directives on its Web site that detail compliance requirements for property casualty insurance providers in that state.The insurance department noted that while Arkansas state...
Aug 6 2009 // The North Carolina General Assembly has approved a bill to reform the state’s coastal insurance system that caps private insurers’ liability for any funding shortfall in the state-backed Beach Plan, reduces...
Aug 3 2009 // Ironshore Inc. has established a dedicated Global Energy Property business, as an extension of its Global Property division. Ironshore will underwrite comprehensive coverages on commercial risks across virtually all...
Aug 3 2009 // As more homeowners are having trouble selling their homes in today’s real estate market, some are thinking about becoming landlords.A growing number of homeowners who need to relocate for a job or other reason are...
Aug 3 2009 // The property/casualty insurance industry, whose employees do their share of volunteer work and whose financial contributions support many charities, occasionally finds itself involved involuntarily in efforts to improve...
Aug 3 2009 // The Insurance Council of Texas recently presented William H. “Bill” Huff, vice president of Regulatory Affairs for Affirmative Insurance, with the Raymond Mauk Leadership Award. Huff is the 12th recipient of...