Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Preliminary Insured Loss Estimate from Texas Tornadoes: $1.2B
Jan 11 2016 // Texas is dealing with approximately $1.2 billion in insured losses so far from nine confirmed tornadoes that struck the Dallas metro area on Dec. 26, 2015, and killed 11 people, according to preliminary estimates from the...
Losses for Washington from Drought Estimated at $336M
Jan 8 2016 // Washington farmers have lost at least $336 million due to the ongoing drought, a figure that is likely to climb as more information becomes available. The Capital Press reported that a state Department of Agriculture...
Dallas-Area Tornadoes Account for a Big Chunk of December Insured Losses in U.S.
Jan 7 2016 // A recently released report shows that damage estimates from the natural disaster events that occurred in the United States in December 2015 will amount to more than $4 billion. Aon Benfield’s catastrophe model...
Swiss Re Corporate Solutions to Buy Stop Loss Underwriter IHC Risk
Jan 6 2016 // Swiss Re Corporate Solutions has agreed to buy IHC Risk Solutions and its direct employer stop loss (ESL) business from Independence Holding Co. for $152.5 million in cash. The transaction includes IHC Risk...
Flood Claims to Hit U.K. Insurers’ 2015 Earnings: A.M. Best
Jan 5 2016 // Flooding in the final month of 2015 will put pressure on the earnings of U.K. property insurers, according to a briefing published by A.M. Best. Initial estimates of combined insured losses from Storm Desmond, which hit...
6 Forecasts for P/C Insurance in 2016
Jan 4 2016 // Some, but not all, experts see an improving U.S. economy in 2016 helping to boost the property/casualty (P/C) insurance sector. Some of these prognosticators are more optimistic than others. But most also anticipate...
El Niño Helped Reduce Natural Catastrophe Losses in 2015: Munich Re
Jan 4 2016 // Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on...
Insured Loss Estimate from Texas Tornadoes at $1.2B, So Far
Dec 30 2015 // Texas is dealing with approximately $1.2 billion in insured losses so far from nine confirmed tornadoes that struck the metro-Dallas area on Dec. 26 and killed 11 people, according to preliminary estimates from the...
Storm Frank Batters North Britain; Total Storm Losses Could Top $4.5 Billion
Dec 30 2015 // Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said...
Expect P/C Insurance Price Stagnation in 2016: Kroll
Dec 30 2015 // After a banner 2015 for the U.S. property/casualty insurance sector, pricing pressures will lead to stagnation or rate declines in 2016, Kroll Bond Rating Agency Inc. predicted. Pricing will either be flat or down over the...
Australia Wildfire Insurance Losses Double to A$53 Million ($38 Million)
Dec 29 2015 // Losses from wildfires that destroyed more than 100 homes along a popular tourist stretch in southeastern Australia more than doubled in two days to A$53 million ($38 million) and are expected to climb further, the...
ABI Confirms Insurers’ UK Flood Coverage Efforts; Losses May Top $1.6 Billion
Dec 28 2015 // Mark Shepherd, General Insurance Policy Manager at the Association of British Insurers (ABI), said: “Insurers will be doing everything possible to help customers hit by the latest floods. “They will be...
Study: Billions at Stake if Pace of Land Loss Continues on Louisiana Coast
Dec 21 2015 // A new state study places a price tag on the costs Louisiana could suffer if land loss continues at the pace predicted by scientists — and it’s in the billions of dollars. The Coastal Protection and Restoration...
Citizens Board Clarifies Policy Language for Florida Water Losses
Dec 21 2015 // Citizens Property Insurance Corporation’s Board of Governors approved a slate of policy changes Dec. 8 to bolster oversight of water loss claims while continuing to protect policyholders who need immediate emergency...
Swiss Re 2015 Economic Cat Loss Initial Estimates = $85Bn; $32Bn Insured
Dec 18 2015 // Swiss Re’s latest sigma report preliminarily estimates that total economic losses from natural catastrophes and man-made disasters will reach approximately $85 billion in 2015. Insured losses, however, were just $32...
Fitch: Overall P/C Reserves Adequate; Prior Years’ Favorable Trend Continues
Dec 18 2015 // Property/casualty insurers continued to take down loss reserves for prior years in 2014, which marked the ninth straight calendar year of favorable development for the industry in aggregate, according to a new report from...
Pennsylvania Compensation Rating Bureau Seeks 0.9% Loss Cost Decrease
Dec 17 2015 // The Pennsylvania Compensation Rating Bureau (PCRB) has submitted a filing of Pennsylvania loss costs and related rating values with a proposed effective date of April 1, 2016. The filing proposes an overall average loss...
Buyers of Expiring Patents See Profit in Infringement Claims
Dec 17 2015 // The 1990s may be over but patents from that era live on. U.S. courts are seeing a rash of lawsuits involving old and sometimes expired patents as companies try to squeeze the last bit of profits from their 20-year-old...
Once Profitable, Maine’s Community Health Option Is Now Losing Millions
Dec 15 2015 // The lone health insurance cooperative to make money last year on the Affordable Care Act’s public insurance exchanges is now losing millions and suspending individual enrollment for 2016. Maine’s Community...
Vermont Program Gives Low-Income Motorists a Break on Their Old Tickets
Dec 14 2015 // Program helps low-income drivers get suspended licenses back Since 2009, Brenda Kennett has been watching the cost of a handful of minor traffic violations add up, reaching about $1,500 in fines and fees. On Dec. 11, she...
