Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Best’s Loss Control Manual Includes Risk Info on Public Bus Companies, Apiaries, and More
Oct 18 2005 // Risk management professionals and insurance underwriters will reportedly enhance their understanding of industrial and commercial risks, as A.M. Best Co. releases the third and final flow of its 2005 Best’s Loss...
A.M. Best: P/C Insurers Report Strong Gains for First Half of 2005
Oct 17 2005 // The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, according to...
Transatlantic Updates Q3 Losses
Oct 17 2005 // Transatlantic Holdings Inc. announced that its preliminary estimate of pre-tax cost, net of reinsurance, related to Hurricane Rita approximates $50 million, or $33 million on an after-tax basis for the full year of...
Brown & Brown Reports New Records for Revenues, Income in Q3 Numbers
Oct 17 2005 // Florida-based Brown & Brown Inc. announced net income for the third quarter of 2005 of $34,783,000, or $0.50 per share, an increase of 15.6% from the $30,086,000, or $0.43 per share, reported for the quarter ended...
WCIRB Survey Indicates California Workers’ Comp Reform is Working
Oct 17 2005 // State workers’ compensation claims and disability costs have dropped significantly since California’s workers’ compensation system was overhauled in 2003 and 2004, according to the Workers’...
As Insured Acres Increase, Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // As a direct result of the Agricultural Risk Protection Act of 2000 (ARPA), more farmers are insuring their cropland. Nationwide, insured acres have increased by 14.6 million acres, and coverage has increased by $12.2...
As Insured Acres Increase, Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // With Katrina’s impact yet to be felt, farmers in low loss-ratio states may have to pick up the slack for the hard-hit Gulf Coast farmers in months and years to come. If anything, the aftermath of Katrina underlines...
As Insured Acres Increase Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // As a direct result of the Agricultural Risk Protection Act of 2000 (ARPA), more farmers are insuring their cropland. Nationwide, insured acres have increased by 14.6 million acres and coverage increased by $12.2 billion...
Dual Hurricanes Blew in Big Problems for Agribusiness in Louisiana,Texas
Oct 17 2005 // In addition to the immense destruction in heavily populated urban centers and coastal communities caused by Hurricanes Katrina and Rita, which hit the Gulf Coast region in August and September 2005, agricultural interests...
As Insured Acres Increase, Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // As a direct result of the Agricultural Risk Protection Act of 2000 more farmers are insuring their cropland. Nationwide, insured acres have increased by 14.6 million acres and coverage increased by $12.2 billion over the...
As Insured Acres Increase, Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // The hurricane [Katrina] produced catastrophic Broward and Miami- Dade counties in Florida. As a direct result of the Agricultural Risk Protection Act of 2000 (ARPA), more farmers are insuring their cropland. Nationwide,...
WCIRB Survey Indicates California Workers’ Comp Reform is Working
Oct 17 2005 // State workers’ compensation claims and disability costs have dropped significantly since California’s workers’ compensation system was overhauled in 2003 and 2004, according to the Workers’...
Hurricane Katrina to Cost $40-$55 Billion for Privately Insured Losses
Oct 17 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. “Hurricane...
News Briefs
Oct 17 2005 // New Reports Issued on Climate Change: Hurricanes Katrina and Rita have focused more attention on global warming. The debate continues to rage over whether the higher temperatures and rising sea levels are a wholly natural...
Types of employee fraud
Oct 17 2005 // The operations manager for a $56 million bank controlled the suspense accounts entirely on her own. She reviewed the unposted report on a daily basis, clearing out items in the bank’s accounts. She manipulated...
Cincinnati Financial Lost $3 Mil on Rita
Oct 14 2005 // Cincinnati Financial Corporation today announced an estimate of $3 million for pretax catastrophe losses resulting from Hurricane Rita and updated its estimates of previously announced catastrophe losses. Total...
Ohio Casualty Unveils Q3 CAT Losses
Oct 13 2005 // Ohio Casualty Corporation announced that it estimates total net catastrophe losses for third quarter 2005 to be approximately $11.6 million after-tax. Approximately $9.8 million of the estimated catastrophe losses are...
Loss Reserves, Risk Transfer, Reg Capital Models Among Topics at CAS Meeting in November
Oct 13 2005 // Facts and perceptions regarding loss reserves, adequate risk transfer for reinsurance accounting, and developments in regulatory capital models around the world will be featured topics during the Annual Meeting of the...
Horace Mann Estimates Hurricane Loss
Oct 13 2005 // Illinois-based Horace Mann Educators Corporation estimates its financial impact from Hurricanes Katrina and Rita will total approximately $29 million to $33 million pretax, net of anticipated reinsurance...
Specialty Underwriters’ Alliance: No Expected Losses from Hurricanes
Oct 13 2005 // Chicago-based Specialty Underwriters’ Alliance Inc. reported that it does not expect any losses related to the recent hurricane activity. SUA President and Chief Executive Officer Courtney Smith stated, “Our...
