Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
A.M. Best: UK Non-Life Insurers’ Profits Under Pressure
Oct 14 2014 // Profit margins in the U.K. non-life insurance sector are under pressure this year as companies fight to maintain pricing discipline in an extremely competitive market, according to a new A.M. Best special report. Premium...
Oklahoma Wheat Farmers Seek Drought Loss Relief from USDA
Oct 13 2014 // Oklahoma wheat farmers want the U.S. Department of Agriculture to implement now a policy that’s scheduled to start in 2016 that farmers say would help ease the financial pain of ongoing drought. The policy is part of...
RMS: ‘Big One’ in Northern California Could Cause $200B in Losses
Oct 13 2014 // Earthquake risk in the San Francisco Bay Area is on the rise while earthquake insurance penetration statewide has dropped significantly since the Loma Prieta earthquake that rocked the Bay Area 25 years ago, causing nearly...
New Jersey Transit Sues Insurers Over Sandy Losses, Seeks $300M
Oct 8 2014 // New Jersey Transit, the nation’s third-largest bus, rail and light rail transportation provider, is suing several excess insurers to recoup additional $300 million for Superstorm Sandy losses. NJ Transit says its...
With $100M In Crop Losses USDA Grants Eight Idaho Counties Disaster Status
Oct 6 2014 // The U.S. Department of Agriculture has granted disaster area status to eight counties in central and eastern Idaho, clearing the way for farms to receive low-interest loans for operating costs. USDA Secretary Tom Vilsack...
P/C Insurers’ Net Income Rose, Operating Income Fell in First Half
Oct 6 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
Amtrak Seeks to Recoup Millions for Sandy Losses
Oct 6 2014 // Amtrak filed a lawsuit last month against more than a dozen insurers, claiming that the railroad operator is entitled to recoup additional proceeds for Superstorm Sandy losses from its insurers. “Amtrak has filed a...
Lloyd’s Posts First-Half Profits of $2.72 Billion
Oct 6 2014 // Lloyd’s reported a profit of £1.67 billion [$2.7218 billion] for the first six months of 2014, marking a 21 percent increase on the corresponding period last year. The announcement said that “while these...
NCCI Proposes Workers’ Comp Loss Cost Decrease in Connecticut
Oct 3 2014 // The National Council on Compensation Insurance (NCCI) recently proposed an overall average change in voluntary loss cost level of -0.6 percent in Connecticut. Key components for the proposed change include -0.4 percent for...
U.S. Risk Pros and Western World Introduce a New and Improved Private and Non-Profit Organization Directors and Officers Liability Form
Oct 3 2014 // Dallas, TX, October 3, 2014– Effective October 1, 2014, this new form reflects the growing needs of organizations to address the issues confronting them in the 21st century. Coverage consists of Directors, Officers...
Allianz Names Baete CEO to Succeed Diekmann amid Upheaval at Pimco
Oct 2 2014 // Allianz SE named board member Oliver Baete to succeed Michael Diekmann as chief executive officer as Europe’s biggest insurer grapples with upheaval at Pacific Investment Management Co. (Pimco) Diekmann, 59, will...
Amtrak Seeks to Recoup Millions From Insurers for Sandy Losses
Sep 25 2014 // Amtrak filed a lawsuit last week against more than a dozen insurers, claiming that the railroad operator is entitled to recoup additional proceeds for Superstorm Sandy losses from its insurers. “Amtrak has filed a...
Lloyd’s Posts First-Half Profits of $2.72 Billion
Sep 25 2014 // Lloyd’s reported a profit of £1.67 billion {$2.7218 billion] for the first six months of 2014, marking a 21 percent increase on the corresponding period last year. The announcement said that “while these...
Guy Carp’s Vice Chairman Explains Multiple Tasks of a Modern Reinsurance Broker
Sep 24 2014 // Following a presentation from Guy Carpenter, moderated by the CEO Alex Moczarski, we caught up with the company’s Vice Chairman David Priebe, who explained just what’s involved in operating one of the...
Investigators at Loss to Explain Air Algerie Crash in Mali
Sep 22 2014 // Investigators probing the crash of an Air Algerie jet in July that killed everyone on board say they have no solid leads on the cause of the accident. Bernard Boudaille of France’s accident investigation authority...
The Ever-Evolving Nature of Cyber Coverage
Sep 22 2014 // To understand the current state of network security and privacy (cyber) coverage, it is helpful to have an understanding of the development and some of the major milestones which helped shape the coverage. The first cyber...
Losses by Business Sector
Sep 22 2014 // Aviation Improvements in airline safety are leading to far fewer catastrophic losses overall, despite 2014’s extraordinary loss activity. However, the cost of aviation claims is rising, driven by the widespread use...
Top 10 Causes of Business Insurance Losses
Sep 22 2014 // Nearly 70 percent of business financial losses arise from 10 causes of loss, with the largest single identified cause being ship groundings, reflecting the high values of modern shipping risks, followed by fires and...
Workers’ Comp Loss Costs Declining Again in Oklahoma
Sep 22 2014 // For the second straight year, workers’ compensation loss costs used by insurers to determine rates for employers will show an overall decrease in Oklahoma. The National Council on Compensation Insurance (NCCI) has...
Fireman’s Fund Enhances Prestige Home Premier Product
Sep 16 2014 // Fireman’s Fund has unveiled new coverages and enhancements to its Prestige Home Premier product, now available in six states and filing nationwide through 2016. Homeowners in Arizona, Colorado, Connecticut, Illinois,...
