Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Ill. Group Offers New Information on Terrorism Loss Costs, Rating Factors
Jun 12 2007 // Wheaton, Ill.-based the American Association of Insurance Services (AAIS) recently announced that it will initiate a countrywide filing of new Businessowners (BOP) manual supplements that include new terrorism loss costs...
Banks Boost Insurance Brokerage Fees for First Quarter
Jun 6 2007 // Bank insurance brokerage fee income was up 3.9 percent year-to-date through March 31, 2007, compared to the first quarter of 2006, according to the Michael White-Symetra Bank Fee Income Report (Bank-FIR). The Bank-FIR...
Insurers try to prevent losses in wildfire hotspots
Jun 4 2007 // Spooked by devastating wildfire seasons, the nation’s top insurers are inspecting homes in high-risk areas throughout the West and threatening to cancel coverage if owners don’t clear brush or take other...
Insurers try to prevent losses in wildfire hotspots
Jun 4 2007 // Spooked by devastating wildfire seasons, the nation’s top insurers are inspecting homes in high-risk areas throughout the West and threatening to cancel coverage if owners don’t clear brush or take other...
Minimizing risks for global catastrophes
Jun 4 2007 // Managing catastrophe risk is one of the biggest challenges facing any company’s risk manager. For multinational companies, the challenge of managing catastrophe risk is especially daunting. In the United States, risk...
Zurich Increases Key Profit Target
May 24 2007 // Zurich Financial Services Group has revised its strategic direction to the market with the announcement that its mid-term target for its key financial metric, increasing the BOP (business operating profit) (after tax) ROE...
Deputy Marshal in W.Va. Sues Zicam Maker Over Loss of Smell
May 23 2007 // A deputy U.S. marshal from Putnam County is suing the maker of a popular cold remedy, saying it caused him to lose his sense of smell, which is critical to his line of work. William L. Seckman, 42, who works in and around...
EMC Insurance reports tornado losses at $21 million
May 21 2007 // EMC Insurance Cos. said it expects to see losses of up to $21 million from storms in May, including devastating tornadoes that killed at least 11 people in Kansas. Des Moines-based EMC insures several businesses and homes...
S&P Lowers RVI Guaranty Ratings
May 21 2007 // Standard & Poor’s Ratings Services has lowered its rating on R.V.I. Guaranty Co. Ltd., R.V.I. America Insurance Co., and R.V.I. National Insurance Co. (collectively referred to as RVI) to “A-” from...
Insurers Try to Prevent Losses in Wildfire Hotspots
May 21 2007 // Spooked by devastating wildfire seasons, the nation’s top insurers are inspecting homes in high-risk areas throughout the West and threatening to cancel coverage if owners don’t clear brush or take other...
Big Dig insurer AIG to pay $58.5 million in workers’ comp excess profit
May 21 2007 // Massachusetts Attorney General Martha Coakley has reached a $58.5 million settlement with American International Group (AIG), the workers’ compensation carrier for the Central Artery Tunnel (CA/T) Project, known as...
Study: Financial Executives Expect Business Risks to Persist, Intensify
May 18 2007 // Financial executives at the world’s largest companies expect the severity of their most prevalent business risks to remain constant or intensify through 2009, according to the “Managing Business Risk Through...
Appurtenant Structures Contribute to Florida Storm Loss, Study Shows
May 16 2007 // During the 2004-2005 Florida hurricane seasons, there were anecdotal reports that appurtenant structures such as pool enclosures, garages, carports, and sunrooms substantially contributed to the total storm damage either...
Zurich Q1 Net up 71% to $1.387 Billion
May 16 2007 // Zurich Financial Services Group enjoyed a very good first quarter with all of its business units showing profit gain. Highlights for the period included the following: –Net income of $1.387 billion, a 71 percent...
Fla.’s Universal Insurance Reports Net Income Way Up in 1st Quarter
May 16 2007 // Universal Insurance Holdings, Inc. of Fort Lauderdale, Fla., reported net income of $12,374,829 or $.30 per share on a fully diluted basis on revenues of $44,569,042 for the three months ended March 31, 2007 compared to...
Allianz Posts Q1 Eastern Europe Revenues of $1.435 Billion
May 15 2007 // Germany’s Allianz, which has been steadily expanding its activities in Eastern Europe, is now realizing strong results from its ventures. Revenues from Central and Eastern Europe in the first quarter of 2007 reached...
Iowa EMC Insurance Reports Midwest Tornado Losses at $21 Million
May 15 2007 // EMC Insurance Cos. said it expects to see losses of up to $21 million from storms last weekend, including devastating tornadoes that killed at least 11 people in Kansas. Des Moines-based EMC insures several businesses and...
Insurers Call for Additional Reforms for Florida Consumers
May 15 2007 // A new Florida law enacted during a 2007 January special session provides immediate savings for homeowners by shifting potential payments for hurricane losses from the homeowners receiving the current policy benefits to...
NCCI Reiterates “Optimistic but Cautious” Outlook for Workers Comp
May 11 2007 // The workers compensation calendar year combined ratio stands at 96.5 percent — the best underwriting result in at least 30 years and the first underwriting profit for the line since 1995 according to NCCI Holdings...
Fla. Recertifies Hurricane Loss Projection Methodology
May 11 2007 // The Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) has recertified EQECAT Inc.’s hurricane model for use in Florida according to EQECAT. The EQECAT North Atlantic Hurricane model, a...
