Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
7 Simple Underwriting Questions Nobody Asks
Dec 14 2015 // First, let’s be clear – this is only a SMALL sampling of simple questions agents and underwriters fail to ask! There are dozens of simple, common sense questions that are often skipped – why remains a...
Business Interruption Claims on the Rise: Allianz
Dec 10 2015 // The average large business interruption (BI) property insurance claim is now in excess of $2.4 million, 36 percent higher than the corresponding average property damage claim of just over $1.7 million, according to a...
Liberty Mutual Posts $427 Million Q3 Loss on Venezuela Operations, Energy
Dec 10 2015 // Liberty Mutual Holding Co., the second- largest U.S. property-casualty insurer, posted its worst loss in at least a decade on costs tied to scaling back operations in Venezuela and the declining value of some...
Citizens Approves Policy Language Changes to Tackle Water Loss Issue
Dec 9 2015 // Citizens Property Insurance Corporation’s Board of Governors on Wednesday approved a slate of policy changes to bolster oversight of water loss claims while continuing to protect policyholders who need immediate...
South Carolina Governor Denies Farmer Request to Seek Storm Loss Aid
Dec 9 2015 // Farmers packed the South Carolina Statehouse on Monday to beg Gov. Nikki Haley to ask Congress for money to offset their estimated $376 million in losses from last month’s historic flooding. But the Republican...
PwC UK Raises Desmond Insured Loss Estimates: $375 to $487.5 Million
Dec 8 2015 // Commenting on the impact of Storm Desmond, Mohammad Khan, general insurance leader at PwC UK, stated that the accounting firm’s “current estimate of the damage caused by Storm Desmond is £400 million –...
Spring Storms Rack Up More than $1.5B in Losses in Texas
Dec 7 2015 // Storms during April and May in Texas caused more than $1.5 billion in property losses, according to the Insurance Council of Texas. ICT spokesman Mark Hanna says paid residential property losses in April and May were close...
Year End Agency Review
Dec 7 2015 // The holiday season is upon us. People are busy shopping, celebrating and just relaxing with the family. What better time to see how the business has performed during 2015. For those people who think there is always room...
Insurance Company Profitability
Dec 7 2015 // The past 10 years has been incredibly profitable for insurance companies. Net income for the industry – that is net, not pretax – has equaled $448 billion; that’s almost half a trillion dollars. It is not chump...
Program Business Revenue Doubles in 5 Years
Dec 7 2015 // Data Management, Technology Present Future Challenges and Opportunities for Sector The pace of growth in the program market may be slowing but it is in no way standing still. According to the most recent study from the...
Business Losses in India’s Flood-Ravaged Chennai Could Top $2.2 Billion
Dec 3 2015 // As the flood-ravaged Indian city of Chennai prayed for respite from torrential rains, a trade body said losses to businesses from the record downpour could reach more than 150 billion rupees ($2.2 billion).* Water...
Ironshore Launches Hybrid Product for Fine Art Losses from Political Risks
Dec 2 2015 // Ironshore International has introduced a hybrid insurance product to protect against loss or damage of works of art in the care custody and control of Museums and Exhibition organizers, as well as personal fine art...
Virginia Approves 3.4% Overall Increase in Workers’ Comp Loss Costs
Nov 25 2015 // The Virginia State Corporation Commission (SCC) announced Tuesday the approval of revisions to the premium levels charged for workers’ compensation insurance in Virginia. The revisions will result in an overall...
South Dakota Rancher Pleads Guilty to False Cattle Loss Claims
Nov 23 2015 // A South Dakota rancher has pleaded guilty in federal court to falsely claiming he lost more than a hundred cattle during the autumn blizzard of 2013 that left ranchers in the state reeling with financial losses. Karl...
Labbe Named Asst. VP, Loss Control, for Amerisure’s Southwest Region
Nov 23 2015 // Amerisure Mutual Insurance Co. promoted Rod Labbe to assistant vice president of Loss Control, Southwest Region. He is based in Dallas and reports to Kevin Clary, vice president of Loss Control with Amerisure. Labbe...
South Carolina’s Agricultural Flood Loss Estimate Reaches $587M
Nov 22 2015 // The farms and playground area for picking pumpkins are swamped in Mt. Pleasant, S.C., Monday, Oct. 5, 2015. South Carolina is still struggling with floodwaters due to a slow moving storm system. (AP Photo/Mic Smith) South...
Beazley Offers ‘Weather Guard’ in Australia for Weather-Related Revenue Losses
Nov 18 2015 // Specialist insurer Beazley launched in Australia “Weather Guard,” an insurance policy to protect Australian businesses from weather-related revenue shortfalls. Weather Guard covers weather-related perils that...
Delaware OKs 7.2% Increase in Workers’ Comp Voluntary Market Loss Costs
Nov 17 2015 // Delaware Insurance Commissioner Karen Weldin Stewart today announced the approval of Delaware Compensation Rating Bureau (DCRB)’s workers’ compensation amended rate filing, resulting in an overall average...
El Nin᷈o Talk Growing Louder Amid Southern California Storms
Nov 16 2015 // A whopper of a winter appears to be brewing for the Western U.S. and more conversations are turning to preparations for what could be one of the strongest El Nin᷈os on record. Strong rains throughout much of California...
Washington Jury Finds Auditors Liable for $10M in Madoff losses
Nov 16 2015 // A Seattle, Wash. jury has found of Ernst & Young liable for half of more than $20 million lost by a Washington investment company in the wake of Bernie Madoff’s multi-decade investment scam. FutureSelect...
