Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Calif. Workers’ Comp System Inadequate in Replacing Lost Earnings
Jan 11 2011 // Permanently disabled workers in California’s workers’ compensation system have historically faced poor return-to-work rates and high levels of lost earnings after a disabling injury, a new study has found. In...
Multi-State Surplus Lines Tax State Inaction Risks Loss of Premium Tax Revenue
Jan 10 2011 // State Inaction Risks Loss of Premium Tax Revenue The States appear poised, through inaction, to leave untold millions of dollars in premium tax revenue “on the table” when the Nonadmitted Insurance and...
Consensus: Consumer Education Needed to Reduce Disaster Losses
Jan 6 2011 // With more than 50 percent of the country’s population living in coastal counties, there is an urgent and extensive need to convince consumers to adopt a long-term view of catastrophic risk. That is the conclusion of...
Cunningham Lindsey Acquires Loss Adjusting Unit of GAB Robins NA
Jan 5 2011 // Cunningham Lindsey has acquired the U.S. loss adjusting business of GAB Robins North America Inc. The global loss adjusting and claims management services company said the addition of the GAB Robins loss adjusting business...
Calif. Commissioner Jones to Enforce Medical Loss Ratio Rule
Jan 5 2011 // Almost immediately after being sworn into office on Tuesday, California Insurance Commissioner Dave Jones signed an emergency order to enforce the medical loss ratio. the MLR rules require insurers to annually disclose the...
Year-End Storms Cloud P/C Insurers’ Profit Picture
Jan 5 2011 // U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away...
P/C Insurers Improve Personal Lines, Investment Results in Q3
Jan 4 2011 // The U.S. property/casualty industry generated improved operating results in the third quarter despite competitive market conditions, elevated catastrophe losses, the economic downturn and historically low investment...
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....
