Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Everest Launches Not-For-Profit Management Liability Policy
Jan 31 2019 // Everest Insurance has launched Everest Expedition Not-For-Profit Management Liability policy. The new policy form provides protection for not-for-profit organizations across all industries including charitable foundations,...
Insured Losses from Last Year’s California Wildfires up to $11.4B
Jan 28 2019 // California Insurance Commissioner Ricardo Lara on Monday announced that more than $11.4 billion in insured losses have been reported from the November 2018 fires. That is a 25 percent increase, or more than $2.3 billion,...
Everest Re Estimates Q4 2018 Catastrophe Losses of $695 Million
Jan 28 2019 // Everest Re Group, Ltd. expects to incur in the fourth quarter 2018 catastrophe losses of $695 million, net of reinsurance, reinstatement premiums and taxes. The catastrophe losses were related to the fourth quarter 2018...
Private Flood Insurers Not Yet Ready to Fill Massive U.S. Protection Gap
Jan 24 2019 // The flood insurance protection gap in the United States is massive, but the take-up rate of private flood insurance continues to be low. The relative inability of private insurers to penetrate the flood insurance market...
Businesses View Cyber, Business Interruption as Bigger Risks Than Catastrophes
Jan 24 2019 // Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes...
Coinsurance is the Insured’s Friend
Jan 23 2019 // Coinsurance. For some of us, that’s one of the worst words that I could write. You’re already mad at me and you haven’t even read the first paragraphs. For many of us, it’s a word that you barely...
Travelers Grew Q4 Profit Despite California Wildfire, Hurricane Michael Losses
Jan 22 2019 // Travelers Cos. reported that despite catastrophe losses from the California wildfires and Hurricane Michael, it boosted its profit in the fourth quarter of 2018 thanks to growth in premiums and investment income. Net...
Fund Manager LJM Sues to Find Those Behind Market Volatility Losses
Jan 22 2019 // LJM Partners Ltd. on Friday filed a lawsuit against unnamed parties it holds responsible for hundreds of millions of dollars it lost after last year’s jump in stock market volatility that effectively put the fund...
Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap
Jan 22 2019 // The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses,...
California Wildfires, Hurricane Michael Top List of 2018’s Costliest Natural Disasters: Munich Re
Jan 21 2019 // The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last...
Industry Trends to Exploit for 2019
Jan 21 2019 // It is time to take out our crystal ball and plan for 2019 and how our insurance industry will be impacted by the trends around us. Those that consider these changes, and plan ahead, will usually be in a better position...
Argo Estimates Losses from Q4 Natural Catastrophes, Other Claims to Hit $44M
Jan 18 2019 // Argo Group International Holdings, Ltd., the Bermuda-based re/insurer, announced a preliminary pre-tax catastrophe loss estimate of $32 million for the fourth quarter of 2018, primarily related to Hurricane Michael and the...
Final Insured Losses for Europe’s Storm Friederike/David Estimated at €1.7B: PERILS
Jan 17 2019 // The final loss estimate for Extratropical Cyclone Friederike, also known as David, reached €1.672 Billion ($1.906 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Research Suggests Marijuana Users More Likely to Be Fired or Laid Off
Jan 17 2019 // As U.S. rates of marijuana use continue to rise, workers who use marijuana may be at higher risk of losing their jobs. Job loss may be an overlooked social cost of marijuana use, according to the new research by Cassandra...
Markel Faces Investor Lawsuit Over CATCo Loss Reserves
Jan 17 2019 // Markel Corp. is facing is class action shareholder lawsuit over reserve statements by its investment management unit that are being investigated by U.S. and Bermuda authorities New York law firm Bragar Eagel & Squire...
Cyber Joins Business Interruption as Top Global Business Risks: Allianz Survey
Jan 16 2019 // Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes...
Multiple Smaller Natural Disasters in 2018 Created ‘Unusual’ Insured Loss Picture: Willis
Jan 16 2019 // Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses of $120 billion, according to Willis Re. However, the insured losses in 2018...
Woodruff Sawyer in California Names Overbay COO, Allen Chief Revenue Officer
Jan 14 2019 // San Francisco, Calif.-based Woodruff Sawyer has promoted Zac Overbay to the position of chief operating officer, and Norman Allen has been named chief revenue officer. As COO, Overbay will direct the firm’s...
Arch Capital Estimates Q4 2018 Catastrophe Losses Could Total $130M
Jan 11 2019 // Arch Capital Group Ltd. reported an estimated range of fourth quarter pre-tax losses of $110 million to $130 million from global natural catastrophes, including Hurricane Michael and California wildfires. These estimates...
Global Reinsurance Capital Is Resilient Despite Losses of $230B over 2 Years: Aon
Jan 11 2019 // Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of...
