Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Lloyd’s America’s Baker: Time for action on climate change is now
Sep 24 2007 // For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s America Inc., staying on top of those trends in the United...
U.S. fire report: More fires; fewer deaths and injuries; rise in property losses
Sep 24 2007 // Fire departments in the United States responded to an estimated 1.6 million fires during 2006. These fires caused 3,245 civilian deaths and 16,400 injuries, according to the National Fire Protection Association (NFPA). The...
A policyholder bonanza: Texas Supreme Court decides Lamar Homes
Sep 24 2007 // The Supreme Court also disagreed with the district court’s common sense ruling that faulty workmanship that damages the property of a third party is a covered “occurrence,” whereas faulty workmanship that...
Lloyd’s America’s Baker: Time for action on climate change is now
Sep 24 2007 // For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s America Inc., staying on top of those trends in the United...
Feds Approve Ind.’s New Health Insurance Program for Low-income Adults
Sep 24 2007 // The federal government has given Indiana the go-ahead on its state-subsidized health care plan for low-income adults that will be partially funded by an increase in the cigarette tax. The deal will allow Indiana to provide...
AIR Estimates Typhoon Wipha Insured Losses under $250 Million
Sep 21 2007 // AIR Worldwide Corporation estimates insured losses from both wind and precipitation-induced flooding from Typhoon Wipha (See IJ web site Sept. 18, 19) are unlikely to exceed $250 million (RMB 1.85 billion). “The...
Fla. High Court Affirms Policies Cover Only Losses from Covered Perils
Sep 21 2007 // Florida’s valued policy law means property insurance companies are only responsible for actual damages caused by perils that are specifically cited in the policy, the Florida Supreme Court has affirmed in a key...
Mo. Governor Pushes for New Health Plan for Lower-income Families
Sep 20 2007 // Mo. Gov. Matt Blunt said the number of uninsured Missourians could be reduced by nearly one-third under a plan he outlined this week to provide government-subsidized health care to lower-income families. The Republican,...
Miss. Gov. Rolls Out Plan to Revive Housing Recovery on Gulf Coast
Sep 19 2007 // With the Mississippi Development Authority’s recent request for proposals for the long term workforce housing program, Gov. Haley Barbour’s comprehensive recovery strategy continues to assist housing needs on...
AIR Worldwide Says Insured Losses from Humberto Likely Won’t Top $200M
Sep 19 2007 // Boston-based catastrophe risk modeling company AIR Worldwide Corporation reported insured wind losses from Hurricane Humberto are unlikely to exceed $200 million. The estimate covers insured wind losses to property,...
Hawaii Proposes 16.8 Percent Workers’ Comp Loss Cost Decrease
Sep 13 2007 // The National Council on Compensation Insurance has filed a request to decrease workers’ compensation loss costs in Hawaii by 16.8 percent, beginning Jan. 1, 2008, according to the state Department of Commerce and...
AIG Executive Liability Introduces Not-for-Profit Risks Package
Sep 12 2007 // AIG Executive Liability, a division of the property-casualty insurance subsidiaries of American International Group, Inc. (AIG), is now offering Not-for-Profit Risk Protector, a modular package of management liability...
U.S. Fire Report: More Fires; Fewer Deaths and Injuries; Rise in Property Loss
Sep 11 2007 // Fire departments in the United States responded to an estimated 1.6 million fires during 2006. These fires caused 3,245 civilian deaths and 16,400 injuries, according to the National Fire Protection Association (NFPA). The...
EQECAT, AIR Estimate Japan Typhoon Losses – Less than $1 Billion
Sep 10 2007 // Catastrophe modeling firms EQECAT and AIR Worldwide have indicated that losses from Typhoon Fitow, which came ashore on Friday, Sept. 7 in Japan’s Shizuoka prefecture, would not exceed $1 billion The storm, rated...
Tornado-Ravaged N.D. Town Tallies $3.5M in Uninsured Losses
Sep 10 2007 // Data collected from residents in tornado-ravaged Northwood, N.D., show about $3.5 million in uninsured losses, Gov. John Hoeven’s office says. Hoeven and members of North Dakota’s congressional delegation have...
EQECAT Model Warns of Potential $65 Billion in Gulf Energy Losses
Sep 6 2007 // A risk modeling projection from Oakland, Calif.-based EQECAT, Inc. forecasts that the passage of a strong hurricane “like Camille, a category 5 storm, with a track through the heart of Gulf of Mexico U.S. offshore...
Felix Weakens; RMS Puts Losses at Less than $200 Million
Sep 5 2007 // Hurricane Felix has been downgraded by Miami’s National Hurricane Center to a tropical depression as it crosses Central America. The storm left at least four people dead in Nicaragua, as it tore the roofs off houses...
Swiss Re: Nordic Region Storm Losses to Double by 2100
Aug 29 2007 // Swiss Re announced that a presentation at its second Nordic Risk & Insurance Summit (NORIS), “will show how winter storms Anatol, Gudrun and Per are harbingers of a more stormy future in Scandinavia, leading to...
La.: Hurricanes did $100B in Damage; State Short $34B to Cover Losses
Aug 28 2007 // Hurricanes Katrina and Rita were a $100 billion blow to Louisiana buildings and infrastructure, and federal aid and insurance payments fall about $34 billion short of making up for the losses, a state agency says. The $100...
Dean Losses ‘Manageable’ Says Fitch
Aug 28 2007 // Fitch Ratings indicated that that it expects insured losses from Hurricane Dean, “despite having been a Category 5 storm,” to be manageable for the insurance industry. The preliminary estimates range from a low...
