All the headlines from our Property Topic Page, ordered by recency.
Aug 21 2015 // Among the lessons to be learned from Hurricane Katrina are that communities and all stakeholders should prioritize flooding as the greatest risk, devote more resources to preventive measures rather than post-event disaster...
Aug 21 2015 // Rightscorp Inc., the company that identifies infringers to copyright holders, said in a company filing that it now has contracts covering about 208,000 copyrights.That’s more than twice the 100,000 copyrights the...
Aug 18 2015 // Insurance claims from the devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit ratings agency Fitch said on Tuesday.Credit...
Aug 17 2015 // Angela Nelson, director of the Division of Market Regulation for the Missouri Department of Insurance, said the state now faces an earthquake coverage crisis and that the value of uninsured residential property in the...
Aug 17 2015 // As part of a package of tax credit reductions passed by the Legislature, Louisiana’s property insurance policyholders will lose 28 percent of a tax credit they can get for covering the debt of the state’s...
Aug 17 2015 // Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses in the United States. Many of the lawsuits filed as a result of the...
Aug 12 2015 // The market share of Louisiana’s property insurer of last resort — Louisiana Citizens Property Insurance Corp.— has declined from 9.8 percent to 1.8 percent in the 10 years after back-to-back Hurricanes Katrina...
Aug 12 2015 // The Florida Office of Insurance Regulation announced today that it has approved the removal of up to 279,357 personal residential policies and 1,500 commercial residential polices from Citizens Property Insurance...
Aug 12 2015 // Workers’ compensation insurer Berkshire Hathaway GUARD recently named Lyle Hitt as executive vice president of Property and Liability Insurance as the company plans to expand.In his new role, Hitt will oversee...
Aug 11 2015 // Coinsurance provisions found in property policies exist primarily to assure that the insurance carrier receives adequate premium for the property insured. Without a coinsurance condition, and its applicable penalties,...
Aug 10 2015 // Warren Buffett’s Berkshire Hathaway Inc. posted second-quarter profit that missed analysts’ estimates because of higher claims costs at insurance units including Geico.Net income dropped 37 percent to $4.01...
Aug 10 2015 // The rise of rampant claims litigation against property insurers following hailstorms in Texas has created a “cottage industry” that not only threatens the financial health of the state’s property...
Aug 6 2015 // Federal prosecutors say a Providence, Rhode Island, landlord admitted to setting fire to an occupied building he owned in a scheme to collect insurance payments.Rony Metellus pleaded guilty Monday to one count of...
Aug 5 2015 // Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses. Many of the lawsuits filed as a result of the fifth hurricane of...
Aug 4 2015 // Everyone in Louisiana who buys property insurance will lose 28 percent of a tax credit they can get for covering the debt of the state’s property insurer of last resort.In addition, the reduction is retroactive,...
Aug 4 2015 // American International Group Inc. (AIG) today reported net income of $1.8 billion for the quarter ended June 30, 2015, compared to $3.1 billion, for the second quarter of 2014. Second quarter net income declined primarily...
Aug 4 2015 // Gulfstream Property and Casualty Insurance Co., a regional property carrier providing homeowners, condominium, renters, dwelling fire and flood coverage with operations in five states, has announced the appointment of...
Aug 3 2015 // NFP, a New York City-based provider of employee benefits, property/casualty insurance, retirement and wealth management services, announced today its acquisition of BWD Group LLC in Plainview, New York. Terms of the...
Aug 3 2015 // The condominium association owns and insures the outside structure of the condominium building. The condominium master policy agreement (bylaws) stipulates what part of the structure is owned and insured by the association...
Aug 3 2015 // The property insurance market in Florida has significantly shifted in market share as Citizens Property Insurance Corp. (Citizens)–the state-run property insurance company–continues to depopulate and move...