Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
State Auto Estimates Pre-Tax Cat Losses of $55M – $60M in Q2
Jul 14 2010 // Columbus, Ohio-based State Auto Financial Corp. announced preliminary estimates of losses due to second quarter 2010 catastrophe storm activity. The company expects second quarter 2010 results will include between $55 and...
Hanover Estimates $85 Million Catastrophe Loss for Q2
Jul 14 2010 // Worcester, Mass.-based The Hanover estimated its pre-tax losses resulting from catastrophe events in the second quarter of 2010 to be approximately $85 million. The majority of the losses were associated with six...
Mercury General To Report Quarterly Results on Aug. 2
Jul 13 2010 // Los Angeles-based Mercury General Corp. announced that on Monday, Aug. 2, 2010, it will release results for its second quarter ended June 30, 2010. The company will host an investor conference call and Web cast that same...
U.S. P/C Industry Posts $11.5B Net Income in Q1
Jul 13 2010 // The U.S. property/casualty industry earned a net profit for the first quarter 2010, partly due to the continued recovery in the financial markets. The first quarter 2010 rebounded from a net loss in the first three months...
First Half 2010 Catastrophe Losses Double Average at $22 Billion
Jul 8 2010 // A report from Munich Re (www.munichre.com) notes that the first half of 2010 was “marked by an exceptionally large number of natural catastrophes and the scale of the losses they caused.” The reinsurer recorded...
Tennessee Court Denies Claim By Wife Whose Husband Burned Home
Jul 8 2010 // A Tennessee woman whose terminally-ill husband burned down his house in an attempted suicide is not entitled to collect under policies for the house and autos destroyed in the fire. The Tennessee Court of Appeals has...
Calif. Mehserle Verdict a Reminder to Review Business Income Coverages
Jul 8 2010 // While Oakland, Calif., police donned riot gear to ward off potential violence and vandalism following the Mehserle verdict announcement, businesses may be wondering what insurance coverages are available to protect...
It’s Nothing Personal … Just Business!
Jul 5 2010 // Businesses Accounts Are Vulnerable When It Comes to Financial Computer Fraud People use the phrase “it’s nothing personal, just business” all the time. It covers a wide range of topics and situations. If...
AIR Estimates Mexico’s Hurricane Alex Insured Loss under $200 Million
Jul 2 2010 // Catastrophe risk modeling firm AIR Worldwide estimates that insurable losses (losses from properties that are eligible for insurance, whether or not they are actually insured) from Hurricane Alex are not expected to exceed...
Willis Re Finds Chile Quake, Storm Losses ‘Little Impact’ on Re Pricing
Jul 1 2010 // A new report from Willis Re, the reinsurance broking arm of Willis Group Holdings, has concluded that “losses from the Chile earthquake and storms in Australia in the first quarter of 2010 have had little impact on...
Florida Court Says Fishermen Can Sue Polluter; Is BP Next?
Jun 23 2010 // With BP’s offshore oil gusher in the Gulf of Mexico as a backdrop, the Florida Supreme Court has ruled that commercial fishermen can sue a company that discharged pollutants into Tampa Bay for lost income and profits...
Oklahoma State Revenue Up but So Is Unemployment Rate
Jun 23 2010 // The good news is that state revenue in Oklahoma is improving. The bad news is that the state’s unemployment rate is increasing. The state Board of Equalization has certified revenue that will be available to pay for...
P/C Insurers Return to Profitability in Q1 With $8.9B in Net Income
Jun 23 2010 // The property/casualty industry returned to profitability in the first quarter of 2010 despite continuing declines in both written premiums and earned premiums. Private U.S. property/casualty insurers’ net income...
Contractors: Reduce the Cost of Loss While Helping to Save Lives
Jun 21 2010 // Promoting a Culture of Continuous Improvement Can Beef Up the Bottom Line Bestselling business strategist and author Thomas J. Peters once said, “Excellent firms don’t believe in excellence – only in...
Progressive Sees Increase in Cat Losses in May
Jun 17 2010 // Progressive Insurance has reported 5 percent increases in both net premiums written and earned in May 2010 compared with May 2009, but net income dropped by 19 percent in May 2010 compared with the same month in the...
May 7- 8 Northern Ohio Storms Losses Top $31M
Jun 16 2010 // A series of storms on May 7 and 8 centered across the top half of the state caused at least $31.4 million in damages, according to preliminary insured loss estimates released by the Ohio Insurance Institute...
The Competitive Advantage: Opportunity Knocks
Jun 11 2010 // When I first started as an underwriter a few decades ago, I was truly amazed at the coverage knowledge so many of the older underwriters had. The most remarkable underwriters knew their stuff. They were great resources for...
Olympus Insurance Cleared by Florida Regulators
Jun 10 2010 // Home and condominium insurer Olympus Insurance Co., which in April came under scrutiny by Florida insurance regulators, has convinced the regulators that its financial contracts, accounting methods, reinsurance program and...
Navigators, Victor O. Schinnerer Launch Non-Profit Directors & Officers Program
Jun 8 2010 // Navigators Insurance Co. and Victor O. Schinnerer & Co., Inc. have launched a non-profit D&O program. Schinnerer will act as program administrator for Navigators. The admitted filing of this countrywide program is...
Munich Re: ‘Ever Higher’ Nat Cat Costs; Ups Chile Quake Loss to $1 Billion
Jun 8 2010 // A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo...
