All the headlines from our Property Topic Page, ordered by recency.
Aug 6 2019 // Chubb announced the appointment of Eric Kwan as division head of Property & Casualty for Singapore, effective Aug.5, 2019.He reports to Scott Simpson, Chubb’s country president for Singapore. In Kwan’s new...
Aug 5 2019 // Step 2 of the claim resolution process involves interpreting policy provisions that are cited as the basis for a claim denial. This step (and Step 3) employs up to 12 interpretive doctrines and 17 largely legal and...
Aug 5 2019 // An interesting question came in to the Academy of Insurance recently, edited below for space and to avoid disclosing any identifiable details.“I live in a condo building. A sewage pipe burst, causing damage to my...
Jul 18 2019 // When Californian counties and cities first sued paint makers in 2000, they wanted the companies to pay billions to remove dangerous old lead paint from hundreds of thousands of homes.After a 19-year legal struggle, they...
Jul 17 2019 // It is an insurtech startup operating an artificial intelligence-powered platform that aims to transform commercial insurance underwriting. While the goal may seem ambitious, Cytora is making significant inroads toward...
Jul 10 2019 // When a customer buys an insurance policy, one of the often unanswered (and unasked) questions is “where does this policy apply?” You may not think it’s a big deal. But what if you just wrote a CGL policy...
Jul 9 2019 // FTP Inc. has named Lee Glaser to establish FTP of California LLC, based in San Diego. Glaser will focus on developing the producer base and adding additional underwriters and programs for FTP of California. He has a...
Jul 1 2019 // Munich Re had teamed up with a unit of the National Insurance Crime Bureau to offer insurance carriers an analytics tool that can quickly assess property damage after natural catastrophes and speed up claims payments.Roman...
Jul 1 2019 // InsuraGuest, Inc. has partnered with Venture Insurance Programs to provide U.S. hotels with specialized insurance coverage for guests who are staying in the hotel utilizing InsuraGuest’s insurtech...
Jul 1 2019 // AXA XL’s Environmental business in North America has added supplemental coverage to its Pollution and Remediation Legal Liability policy.The policy is designed to provide protection to owners, operators and...
Jul 1 2019 // American International Group said Kathleen Zortman will join the company as president and CEO of Private Client Group, General Insurance. In this new role, Zortman will lead AIG’s global high net worth portfolio,...
Jul 1 2019 // In order to continue the discussion regarding what constitutes a Super Regional P/C Insurer™ and to give definition to this important group of insurers, Demotech Inc. analyzed year-end 2018 data for property/casualty...
Jun 28 2019 // JBA Risk Management and FloodFlash have formed a partnership to provide event-based flood insurance, which uses parametric triggers for property exposures.The product is an industry first and will provide bespoke insurance...
Jun 24 2019 // Universal Insurance Holdings Inc. subsidiary, Universal Property & Casualty Insurance Co. (Universal Property), has received a Certificate of Authority in to operate as a licensed insurance entity in...
Jun 21 2019 // A Maine proposal to more swiftly compensate victims of property crimes has passed a key test in the Senate. The Senate signed off Tuesday on a proposal to create a compensation fund for victims of the crimes. The sponsor,...
Jun 21 2019 // The North Carolina Department of Insurance announced multiple fraud enforcement actions during the month of May 2019.Insurance fraud costs American consumers approximately $80 billion a year. According to North Carolina...
Jun 20 2019 // The Texas Department of Insurance (TDI) has issued special data call to companies that wrote direct commercial property or businessowners insurance in Texas and to certain farm mutual insurance companies that wrote...
Jun 20 2019 // Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms.PERILS, the...
Jun 18 2019 // While there are “huge opportunities” on the horizon for the cyber insurance industry, cyber insurance underwriters still face the challenge of not having enough historical data to work with.“It’s...
Jun 17 2019 // The long-term viability of the U.S. property terrorism insurance market is back in the spotlight as Congress looks at renewing the federal reinsurance backstop, the Terrorism Risk Insurance Program Reauthorization Act...