Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Indiana Gov., Lawmakers Eyeing Bank Insurance Fund as Revenue Source
Dec 31 2010 // Gov. Mitch Daniels and Indiana lawmakers preparing to craft the state’s next two-year budget are eyeing an obscure bank insurance fund as a possible revenue source to close anticipated budget gaps. The Indianapolis...
Oklahoma State Bar Association to Reimburse Client Losses
Dec 29 2010 // The Oklahoma Bar Association’s board of directors has voted to reimburse several Oklahomans who were the victims of deceased or dishonest attorneys. The association announced its Clients’ Security Fund will pay...
Rates Rising But Florida Home Insurers Report Still Losing Money
Dec 28 2010 // Many Florida homeowners expected relief from the higher property insurance bills that followed the busy 2004 and 2005 hurricane seasons. But more than 4 million homeowners are about to get hit by rate hikes and...
Best Europe Affirms ‘A’ Ratings of HDI, Gerling, Talanx Companies
Dec 28 2010 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s HDI...
Allstate Sues Bank of America Over Countrywide Mortgage Losses
Dec 28 2010 // Allstate Corp. has sued Bank of America Corp., its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from...
Catlin Raises Estimates of NZ Quake Losses to $45 Million
Dec 22 2010 // Catlin Group Limited announced that, “based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its loss amounts are approximately US$45 million, net of reinsurance and...
Feds Pursuing Fraud Charges Against Oil Spill Claimants in 5 States
Dec 21 2010 // A woman was indicted last week in the Eastern District of Louisiana for allegedly filing fraudulent claims for compensation due to the Deepwater Horizon oil spill. Four other individuals were also charged last week in...
State Inaction Risks Loss of Surplus Lines Premium Tax Revenue
Dec 21 2010 // The States appear poised, through inaction, to leave untold millions of dollars in premium tax revenue “on the table” when the Nonadmitted Insurance and Reinsurance Reform Act (NRRA) becomes the law of the land...
Industry Saw Profits Rise Through First Three Quarters of Year
Dec 21 2010 // Property casualty insurers had a healthy growth level in after-tax profits, which stood at $26.7 billion through the first nine months of 2010, according to a release by the Property Casualty Insurers Association of...
Why Top Performing Agencies Focus on Compensation Expenses
Dec 20 2010 // There are a lot of performance benchmarks to focus on to become a top performing insurance agency and to achieve high profitability. One of the areas agencies need to focus on is compensation expenses. With a struggling...
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 20 2010 // Have you ever wondered what big events helped shape regulation of the current U.S. insurance industry? Or if drivers of certain cars have more risk? What about the most attractive insurance job in the industry? These are...
Aon Benfield Releases Annual Cat Report; Insured Losses at $38 Billion
Dec 17 2010 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has released its Annual Global Climate and Catastrophe Report, which reviews the natural disaster perils that occurred worldwide...
Missouri Recommends 11% Drop in Workers’ Comp Insurance Rates
Dec 16 2010 // After reviewing statewide data for insurance claims paid by employers for injured workers in 2010, the Missouri Department of Insurance is recommending a 11.1 percent decrease in workers’ compensation rates for 2011....
Best Affirms Allstate and Subsidiaries ‘A+’ Ratings; Outlook Stable
Dec 16 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Allstate Insurance Group and its members. Best also affirmed the ICR of...
PartnerRe Ups New Zealand Quake Loss Estimates to $140-$160 Million
Dec 15 2010 // Bermuda-based PartnerRe Ltd. Has updated its loss estimate relating to the September 3, 2010 New Zealand earthquake. The Company said it “now expects its loss estimate for the New Zealand Earthquake to be in the...
IronHealth Releases Loss Portfolio Transfer for Medical Liability Sector
Dec 14 2010 // IronHealth, the specialty healthcare unit of Ironshore Inc., has developed the Loss Portfolio Transfer Plus Program to meet the needs of captive insurance entities and other alternative self-insurance vehicles in the...
Petersen International Develops Company Protection for Catastrophic Loss
Dec 9 2010 // Petersen International Underwriters has launched a new type of insurance known as Corporate Accumulation Death and Disability Insurance. This insurance protects firms that may have a sizeable accumulation of employees or...
Texas Supreme Court Declines to Review Workers’ Comp Stop-Loss Case
Dec 6 2010 // The Texas Supreme Court has put an end to a case involving the amount some hospitals marked up workers’ compensation-related bills under rules in effect until 2008, Texas Mutual Insurance Co. announced. In June 2010,...
Feds Erred in Loss Ratio Decision
Dec 5 2010 // Congress May Need to Intervene After months of discussions, the interim final rule on Medical Loss Ratios (MLRs) released by the U.S. Department of Health and Human Services (HHS) was a huge disappointment. The rule...
Talk About the Weather
Dec 5 2010 // Floods, Windstorms, Droughts, Heat Waves and Wildfires There was a time in the not-so-distant past when events such as these would have been considered somewhat unusual in Europe. But these days, extreme weather events are...
