Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Allstate Says 60% of June Insured Cat Losses Came from Texas
Jul 18 2019 // Announcing total estimated catastrophe losses for June, Allstate Corporation attributed 60 percent of those losses to four severe wind and hail weather events that primarily impacted Texas. Allstate estimated catastrophe...
No Workers’ Compensation Loss History? No Problem, Says Valen Analytics
Jul 18 2019 // Workers’ compensation carriers can now accurately score a policy even where there is no loss history on the account, according Valen Analytics, a data analytics and predictive modeling firm for the property/casualty...
Karen Clark & Co. Estimates $300M in Non-NFIP Insured Losses from Barry
Jul 16 2019 // Catastrophe modeling firm, Karen Clark & Company (KCC), says insured losses from Tropical Storm/Hurricane Barry and its remnants will near $300 million. That figure does not include National Flood Insurance Program...
U.S. P/C Insurers’ Net Income Increased 69% in 2018 Over 2017: A.M. Best
Jul 15 2019 // The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and...
Why First Notice of Loss Is Key to Customer Satisfaction: Viewpoint
Jul 11 2019 // What’s worse: An incident that caused an insurance claim or the claims process itself? Ask a policy holder who has recently lived through a homeowners’ insurance claim process and the results might not be as...
Missouri Regulators: At Least $139M in Insured Losses From May Tornadoes
Jul 10 2019 // Missouri insurance regulators say insured losses following May tornadoes in that state are predicted to reach $139 million or more. Tornadoes ravaged several areas of the state in May, including Missouri’s capitol...
Norway Insurer Protector Expects Q2 Loss After Grenfell Fire Ruling with Munich Re
Jul 10 2019 // Shares in Protector Forsikring fell 12% on Wednesday after the Norwegian insurer warned about a second-quarter loss, partly because it had lost an arbitration case related to the 2017 Grenfell Tower fire in London. It said...
Reinsurers Offering Better Prices, Capacity for Preferred Trading Partners: Willis Re
Jul 2 2019 // Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1 and July 1, 2019 renewals, according to the latest 1st View renewals report from Willis...
PG&E in California Wants to Securitize Some Profits to Cover Wildfire Costs
Jul 1 2019 // PG&E Corp. is lobbying for legislation that would allow the bankrupt California utility giant to securitize some of its profits to pay for past wildfire liabilities, people familiar with the matter said. PG&E was...
China’s Swine Fever Losses May Be Twice as High as Officially Reported
Jul 1 2019 // As many as half of China’s breeding pigs have either died from African swine fever or been slaughtered because of the spreading disease, twice as many as officially acknowledged, according to the estimates of four...
Louisiana Sees 12 Consecutive Quarters of Personal Income Growth
Jun 27 2019 // Data released by the Bureau of Economic Analysis (BEA) shows that personal income in Louisiana has grown for 12 consecutive quarters since 2016 Q1, the Louisiana Workforce Commission reported. Between 2018 Q4 and 2019 Q1...
U.S. P/C Insurers’ Net Income Increased 69% in 2018: A.M. Best
Jun 27 2019 // The U.S. property/casualty industry showed a year-over-year 69% increase in net income to $59.2 billion in 2018, owing to lower losses from catastrophic events, favorable development of prior years’ loss reserves and...
Ohio Farmers: It Will Take Years to Recover Losses After 2019 Deluge
Jun 21 2019 // Farmers who have been unable to plant their soybeans and corn because of this spring’s never-ending rains told Ohio’s governor that it will take years to recover their losses. They also said the impact will be...
Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS
Jun 20 2019 // Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the...
Caribbean Insurers’ Net Income Rebounds After 2016-2017 Hurricane Seasons: AM Best
Jun 19 2019 // An analysis of AM Best-rated property/casualty insurers based in the Caribbean found that overall net income rebounded significantly following the 2016-2017 hurricanes to $32.2 million in 2018 compared with a $4.3 million...
PERILS Buys Canada’s Catastrophe Loss & Exposure Analysis Firm CatIQ
Jun 18 2019 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has acquired Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ). Financial details of the deal were...
Officials Say Multi-Million Dollar Loss in Nine-Alarm Boston Fire
Jun 17 2019 // Authorities in Boston say a fire that started at a vacant property and spread to nearby homes likely caused millions of dollars in damages. The Boston Fire Department tweeted that the cause of Saturday evening’s...
Nobody Seems to Know Why Hail Storm Losses Suddenly Began Rising in 2008
Jun 17 2019 // In 2008, the year the stock market crashed and Barack Obama won the presidency, the U.S. was hit with a weather phenomenon little noted by anyone beyond the insurance industry. The country’s losses from hail breached...
Comparing Coverage: Umbrella and Excess Liability
Jun 17 2019 // Liability insurance protects the customer when something happens to someone else. Customers have liability exposures if they do something, sell something, have a place, go to a place or hire someone, among other...
Insured Loss Estimate for European Storm Dragi-Eberhard Rises to €798M ($898.1M)
Jun 7 2019 // PERILS AG has disclosed its second loss estimate of €798 million ($898.1 million) for windstorm Dragi-Eberhard. This estimate compares to the initial loss estimate of €740 million ($832.9 million) which was issued by...
