Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Ohio-Based The Midland Company Reports First Quarter Results
Apr 20 2006 // Cincinnati-based The Midland Company, a provider of specialty insurance products and services, announced record results for the first quarter ending March 31, 2006, according to a written statement issued this week. The...
RMS Estimates Repeat of 1906 San Francisco Quake Would Cause $50 Billion to $80 Billion in Insured Losses
Apr 19 2006 // Based on 2006 population and property exposures in the San Francisco Bay area, Risk Management Solutions, Newark, Calif., estimates there would be at least $260 billion in damages to residential and commercial exposures if...
Fla. Commissioner Encouraging Insurers to Use Loss Mitigation
Apr 19 2006 // Property insurers in Florida are being contacted by Insurance Commissioner Kevin McCarty, to participate in a program that focuses on hurricane loss mitigation at local venues around the state. The Federal Alliance for...
Okla. Tax Proposals: Boon for Companies-Including Insurers-and Wealthy?
Apr 18 2006 // Two tax-credit programs now under intense legislative scrutiny could mean some of Oklahoma’s wealthiest taxpayers, both individuals and corporations, will pay no state income taxes for up to 10 years, officials...
RLI Corp. Posts Strong 1st Quarter Results; Hosts Conference Call Today
Apr 18 2006 // Peoria, Ill.-based RLI Corp. reported first quarter net earnings of $25.7 million compared to $29.3 million reported in the same quarter last year. Operating earnings were $22.8 million ($0.86 per share) for the first...
Sound Risk Management, Strong Investment Results Prove Positive for P/C Industry
Apr 18 2006 // U.S. property/casualty insurers managed to increase earnings and add to their capital base in 2005 despite record catastrophe losses, according to ISO and the Property Casualty Insurers Association of America (PCI). Sound...
Private Firms Seize Profit Opportunities in Emergency Services
Apr 17 2006 // If government can’t do it, business will. Once the domain of government and charitable relief groups, hurricane response and preparedness are a booming billion-dollar business — from the self-heating food packets...
$960M in Unanticipated Fla. Revenue Could Provide Rate Relief
Apr 17 2006 // The Florida General Revenue Estimating Conference has released new estimates stating Florida is expected to receive an additional $960 million in unanticipated revenue this year and the next. This estimate is in addition...
Mass. makes health insurance history by making it compulsorypq”The state says the uninsured tend to be low income, par
Apr 17 2006 // Everyone pays their part: individuals, government, health care providers and employers,” proclaims the document outlining the latest plan to expand health insurance to all citizens in Massachusetts. The Commonwealth...
Editor’s Note: Close to home: 1906 revisited
Apr 17 2006 // If an earthquake similar to that of the 1906 San Francisco quake were to hit a metropolitan area, today, the losses would be staggering. April 18 marks the 100th anniversary of the Great San Francisco Earthquake of 1906, a...
The language gives rise to a chicken or egg conundrum: Must the ensuing loss follow the mold, or is mold covered if it e
Apr 17 2006 // The debate over ‘ensuing loss’ continues Mold ‘crisis’ put spotlight on policy language Despite all the recent changes in policy forms, a number of claims still exist under policies using...
AOL ad revenue class action suit settled for $2.6 billion
Apr 17 2006 // A judge approved a $2.65 billion class-action settlement of claims that ad revenue was counted in a fraudulent manner prior to the merger of America Online and Time Warner. U.S. District Judge Shirley Wohl Kram signed a...
Editor’s Note: If 1906 repeated itself in a major metropolitan space … during working hours … there would
Apr 17 2006 // $7 billion in workers’ compensation losses. Close to home: 1906 revisited April 18 marks the 100th anniversary of the Great San Francisco Earthquake of 1906, a catastrophe that affected thousands of lives, caused...
Summation of Insurance-Related Bills Speeding Through Fla. Legislature
Apr 14 2006 // With Spring meetings of the Florida Legislature coming to an end in Tallahassee in May, the Florida Insurance Council has summarized insurance-related bills now being considered in the House and Senate. Sam Miller,...
Insured Losses from March Tornadoes in Mo. Hit $394 Million
Apr 12 2006 // As state and federal teams assess damage from last week’s severe storms, losses from earlier storms and tornadoes are becoming clear, according to an Associated Press news account. The first round of severe weather...
Insurance Industry on Solid Financial Footing, But Overall Results Mask Problems in Certain Lines, Locations
Apr 10 2006 // The property/casualty insurance industry will report an increase in its capital base and an overall profitable performance in 2005, enabling it to meet the insurance needs of the growing U.S. economy, according to...
AOL Ad Revenue Class Action Suit Settled for $2.6 Billion
Apr 9 2006 // A judge has approved a $2.65 billion (euro2.18 billion) class-action settlement of claims that advertising revenue was counted in a fraudulent manner prior to the merger of America Online Inc. and Time Warner Inc. U.S....
Lloyd’s Holds Down Losses to $180.6 Million; Webcast Scheduled
Apr 6 2006 // As the old saying goes, “Hope for the best, but prepare for the worst.” While Lloyd’s 2005 £103 million ($180.6 million) loss estimate may not be the absolute best, it’s certainly a lot better than...
Alea Posts $178.9 million 2005 Loss; Continues Run-off
Apr 4 2006 // Alea Group Holdings (Bermuda) Ltd.’s 2005 financial results demonstrate just how devastating the loss of an “A” rating can be. Although the Group posted a small, $4.3 million loss in 2004, it started 2005...
Risk Management Solutions predicts hurricane activity to increase losses by 40 percent
Apr 3 2006 // Risk Management Solutions, Newark, Calif., expects increases in hurricane landfall frequencies will increase modeled annualized insurance losses by 40 percent on average across the Gulf Coast, Florida and the Southeast,...
