All the headlines from our Property Topic Page, ordered by recency.
Jan 31 2013 // Florida lawmakers are planning next week to release a draft version of a property insurance reform bill.The Senate Banking and Insurance Committee has taken the lead on property insurance reform this year and so far has...
Jan 30 2013 // Rates for commercial lines insurance will continue to rise in 2013 thanks to above average losses, low investment returns and receding reserve releases.However, according to a new report published by Marsh, traditional...
Jan 30 2013 // Do you always verify exposure changes at renewal? The genesis of a common E&O claim is when a commercial client changes their operations and the agency does not catch this at renewal. These claims can be property or...
Jan 28 2013 // Although demand surge was an issue for the property/casualty industry following a trio of hurricanes in 2005, for Superstorm Sandy the demand-surge impact is minimal so far, an expert said recently.There has only been a...
Jan 28 2013 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of New York-based American International Group, Inc. (AIG), as well as the financial strength rating (FSR) of ‘A’ (Excellent) and...
Jan 28 2013 // More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster.For the most part, the types of allegations and claims that surface after a catastrophe are the same as...
Jan 28 2013 // Willis North AmericaWillis North America, a unit of global insurance broker Willis Group Holdings, has relocated its Cleveland, Ohio office to 1001 Lakeside Ave., Suite 1600. Willis established a presence in Ohio more than...
Jan 25 2013 // Florida’s insurance commissioner has proposed a set of reforms designed to return the state-back property insurer to being a residual market, while at the same time offering the private insurance market incentives to...
Jan 24 2013 // ACE USA’s Medical Risk & Life Sciences Division has introduced four new coverage endorsements: media event expense, disciplinary proceeding defense, emergency evacuation expense, and patient property damage. The...
Jan 18 2013 // Florida lawmakers are poised to consider restructuring the state-run property reinsurance facility by possibly lowering its mandatory annual capacity by billions due to concerns that one major storm could exhaust its...
Jan 17 2013 // Leaders of the property/casualty insurance industry believe Washington’s ongoing budget fracas will have a negative impact on the U.S. economy, according to a survey conducted by the Insurance Information Institute...
Jan 16 2013 // The New Jersey shore town of Bradley Beach came through Superstorm Sandy in better shape than many of its neighbors that sustained serious to catastrophic damage from the waves and storm surge.A major reason: Bradley Beach...
Jan 14 2013 // Since Superstorm Sandy slammed into the U.S. East Coast two and a half months ago, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates.The following are the latest...
Jan 10 2013 // Since Superstorm Sandy slammed into the New Jersey coastline on Oct. 29, 2012, dozens of insurers and reinsurers have publicly announced their Sandy-related preliminary loss estimates. The following are the latest...
Jan 8 2013 // More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster.As parties find themselves without the coverage they expected after a catastrophe, it appears to be a...
Jan 3 2013 // XL Group plc’s North America property business appointed Joseph Moylan as its Northeast regional manager. Based in New York, Moylan will serve property insurance clients throughout the Northeast. He reports to...
Jan 3 2013 // Marco Tarafa was stunned to find that his homeowners’ policy is increasing by nearly $1,000 a year —all because inspectors couldn’t get into his attic, where there was no crawl space and about 24 inches of...
Jan 2 2013 // In Chinese astrology, the year 2012 was the Year of the Dragon, a symbol of unpredictability and uncertainty. The dragon represents mystery because its head and tail cannot be seen at the same time, according to Chinese...
Dec 31 2012 // With less than a day left until the end of the year, here’s a look back at some of the biggest property/casualty insurance news stories in 2012 that impacted the Northeast region, in chronological order:Top Investor...
Dec 28 2012 // Before Hurricane Sandy hit, private U.S. property/casualty insurers’ net income after taxes grew to $27 billion in nine-months 2012 from $8.4 billion in nine-months 2011.Insurers’ overall profitability as...