Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Travelers Seeks Review of Court Ruling on Crime Insurance Loss Involving Email Fraud
Jul 31 2018 // Travelers Insurance is seeking a full Sixth Circuit court reconsideration of its three-judge panel ruling that said the insurer’s crime insurance policy’s computer fraud clause covered a loss due to money...
Chubb Partners with DynaRisk to Offer Cyber Loss Mitigation Service in UK, Ireland
Jul 30 2018 // Chubb has partnered with cyber security company DynaRisk to offer a cyber loss mitigation service to Chubb’s Cyber Enterprise Risk Management policyholders in the UK and Ireland. The DynaRisk service assesses a...
Hartford’s Q2 Results Reflect Big Commercial Lines Gain
Jul 27 2018 // The Hartford reported improved results for the second quarter compared to the same quarter last year, particularly in its commercial lines and group benefits businesses. Overall net income was $582 million in second...
Marsh & McLennan Reports Q2 Revenues Up
Jul 26 2018 // Marsh & McLennan Companies reported consolidated revenue was $3.7 billion, an increase of 7 percent over the second quarter of 2017. Operating income was $691 million for the quarter. In the Risk & Insurance...
Global H1 Insured Natural Disaster Losses 40% Lower than 10-Year Average: Aon
Jul 26 2018 // Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year...
Reinsurer SCOR Reports 37% Drop in Q2 Net Profit on U.S. Tax Reform
Jul 26 2018 // French reinsurer SCOR said its net profit in the second quarter of this year fell 37 percent to 96 million euros ($112.58 million) because of an accounting charge related to tax reforms in the United States. Excluding the...
Chubb Q2’s Results Reflect Continued P/C Pricing Momentum
Jul 25 2018 // Chubb has a very good second quarter in both underwriting and investments, reporting net income of $1,294 million compared with $1,305 million for the same quarter last year. P/C net premiums written increased 5.6 percent...
U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’
Jul 24 2018 // The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among...
What’s New in Today’s Construction Insurance Market
Jul 23 2018 // Brokers who specialize in the construction industry love their clients and are very committed to keeping up with their needs. Ask them, “So what’s new?” and the conversations inevitably veer off in...
Travelers Q2 Profit Dips Due to Hail, Harvey
Jul 19 2018 // Travelers Companies reported that catastrophe losses from wind and hail storms in several regions of the United States cut into its second quarter profit. Net income for the quarter was $524 million compared to $595...
Oasis Loss Modelling Framework Offered Open Source, Free of Charge
Jul 19 2018 // Not-for-profit catastrophe modeling platform “Oasis Loss Modelling Framework” announced that all components of its catastrophe modeling software are now open source and downloadable from GitHub, free of...
I’m moving. What happens if my stuff gets damaged?
Jul 18 2018 // It’s moving week. That’s right. We are taking on the monumental task of moving our home. This isn’t new to my family. My wife and I have been married over 25 years and haven’t lived in one house for...
Loss Estimate for Europe’s Storm Friederike (aka DAVID) Rises to €1.7B ($2.0B): PERILS
Jul 17 2018 // The third insured loss estimate for extratropical Cyclone Friederike, also known as “David,” has risen to €1.675 billion ($2.0 billion), according to PERILS, the independent Zurich-based organisation that...
Court Finds Travelers Crime Policy Covers Money Transfer Loss Due to Email Spoofing
Jul 17 2018 // For the second time in about a week, a federal appeals court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer...
P/C Insurers Double Q1 Profit on Tax Changes, Growing Economy, Lower Cat Losses
Jul 16 2018 // Tax reform, a growing economy and lower catastrophe losses helped U.S. property/casualty insurers more than double their first quarter profit this year. Insurers’ net income after taxes surpassed $17 billion during...
A.M. Best Downgrades Ratings of Wisconsin County Mutual Group
Jul 12 2018 // A.M. Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from bbb+ and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Community Insurance Corp. and Wisconsin County...
Cyber Business Interruption Risks Still Difficult to Figure
Jul 11 2018 // Powered by InsuranceJournal.tvAlthough the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the growing area of non-physical threats? This question was...
How the U.S. Cyber Insurance Market Is Performing: Aon Report
Jul 10 2018 // The number of U.S. insurers providing cyber insurance continues to grow along with instances of cyber attacks. In 2017, 170 U.S. insurers reported writing cyber insurance, up from 140 in 2016 and 119 in 2015, according to...
California Orders Work Comp Insurers to Report Federal Income Tax Savings
Jul 9 2018 // California Insurance Commissioner Dave Jones has issued an order directing every insurer licensed to write workers’ compensation insurance in the state must report their federal income tax savings annually through a...
Impact of Court Ruling Chubb Unit’s Crime Policy Covers ‘Spoofed’ Wire Transfer
Jul 9 2018 // In a closely-watched case on insurance coverage in an age of expanding cyber risk, a federal appeals court in New York has upheld a lower court ruling that a commercial crime insurance policy covers wire transfer losses...
