Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lloyd’s Chairman Criticizes Profit-Hungry Corporations, Which Risk Eroding Trust
Sep 30 2015 // Lloyd’s of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators. Nelson, speaking at...
AIR Analyzes Taiwan, China Damages, Losses from Typhoon Dujuan
Sep 30 2015 // Catastrophe modeling firm AIR Worldwide reports that Typhoon Dujuan made landfall on northeast coast of Taiwan with high winds and heavy rain near Nan’ao Township in Yilan County, late afternoon on Monday, September...
Tianjin Port Blast Chemical Contamination Likely to Boost Re/Insurers’ Losses
Sep 30 2015 // Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While...
ACE Expands Cyber Risk Coverage Options for Non-Profits
Sep 30 2015 // ACE Group has launched a new coverage component for the ACE Express package policy specifically designed to protect private and not-for-profit organizations. The updated package policy enables insureds to purchase privacy...
PERILS Lowers Windstorm Niklas Insured Loss Estimate to $927 Million
Sep 29 2015 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has released its third loss estimate for windstorm Mike-Niklas, which, lowers the estimated property insurance...
Car Dealers Sue Volkswagen Over Losses Tied to Diesel Cheating
Sep 25 2015 // Independent car dealerships sued Volkswagen AG in California on Thursday over losses they say they will incur following revelations that the company fitted some diesel models with software to cheat on U.S. vehicle...
AIR Estimates Insured Losses from Chile Earthquake at $600M to $900M
Sep 22 2015 // Catastrophe modeling firm AIR Worldwide estimates that insured losses from the Magnitude 8.3 earthquake that struck Chile’s central coast near Illapel on Sept. 16 will be between CLP 400 billion ($600 million) and...
Zurich Abandons $8.7B Takeover of RSA After Forecasting Losses in P/C Business
Sep 21 2015 // Zurich Insurance Group AG abandoned its proposed 5.6 billion pound ($8.7 billion) bid for British insurer RSA Insurance Group PLC on Monday after forecasting a $200 million loss in its general insurance business due to...
Labor Department’s 6-Part Test for Classifying Employees, Independent Contractors
Sep 21 2015 // The U.S. Department of Labor has issued a blog post with new guidance on classifying workers as employees or independent contractors under the federal Fair Labor Standards Act (FSLA), an issue that has attracted renewed...
Gap Between Insured & Economic Losses Offers Business Opportunities: AIR
Sep 18 2015 // A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, AIR Worldwide determined in a new report. What the catastrophe modeling firm found: the global insured...
Willis Re Report: Capital Growth Eases as M&A, Capital Mgmt. Accelerate
Sep 10 2015 // In its most recent Reinsurance Market Report Willis Re, the reinsurance division of Willis Group Holdings plc, notes: “Faced with significant over-capacity and widespread pricing pressure, the growth in global...
Update: Lloyd’s of London H1 Profit Decreases 28% on Competitive Pressures
Sep 10 2015 // Lloyd’s of London insurance market posted a 28 percent drop in first-half pretax profit on Thursday and said pricing remained tough in a competitive market. The insurance and reinsurance markets have attracted new...
Ag Losses in Louisiana from Feral Hogs Estimated at $74M
Sep 8 2015 // Feral hogs cost Louisiana farmers more than $74 million in crop losses and other damage in 2013, according to a new study by the LSU AgCenter. AgCenter economist Shaun Tanger, who’s been gathering data from farmers...
Four Key Business Income Concepts
Sep 8 2015 // Business income protection is of utmost importance for any insured suffering a catastrophic property loss. To fully understand business income coverage and the protection the policy extends, four key business income...
Citizens Highlights ‘Disturbing’ Water Loss Trend at FLOIR Rate Hearing
Sep 7 2015 // Representatives from Florida’s Citizens Property Insurance Corp. delved into and defended their rate filing for 2016, which included significant increases in many Florida regions, before the Florida Office of...
Hurricane Katrina: Every Number Tells a Story
Sep 7 2015 // In a 25-year span leading up to 2005, homeowners insurers in Louisiana wrote a total of $13 billion in homeowners insurance premium, from which they earned $1 billion in profit, according to the chief actuary at the state...
What to Know About Insurance Company Financial Status
Sep 7 2015 // I recently listened to an insurance company executive give a discombobulated, “woe is me” speech to a room of agents who were largely ignorant of carriers’ financial success. To summarize his...
Michigan’s New PIP Maximum Work Loss Benefit in Effect Oct. 1
Sep 7 2015 // The maximum work loss benefit payable under policies of personal protection insurance in Michigan will rise very slightly for the year beginning Oct. 1, the Michigan Department of Insurance and Financial Services...
Workers’ Comp Loss Costs Fall Again in Oklahoma
Sep 4 2015 // Workers’ compensation rates in Oklahoma are expected to drop in 2016, the Oklahoma Insurance Department announced. The National Council on Compensation Insurance (NCCI) filed an overall loss cost decrease of 14.8...
Aon Benfield August Cat Report Highlights Global Droughts, El Niño, Typhoons
Sep 4 2015 // The monthly report for August from Aon Benfield’s Impact Forecasting catastrophe model development team cites the “severe drought conditions” in the western U.S. as resulting in “economic losses...
