Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re
Jul 14 2015 // Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural...
Lehman Exec Defeats Employee Lawsuit Over Retirement Losses
Jul 13 2015 // A U.S. federal judge on Friday dismissed a lawsuit by former Lehman Brothers Holdings Inc employees seeking to hold onetime Chief Executive Richard Fuld liable for their retirement plan losses as the Wall Street bank...
4 Commercial Auto Endorsements Every Insured Should Consider
Jul 13 2015 // Insurance Services Office (ISO) lists more than 100 endorsements available for use with the business auto policy (BAP) (the total number varies by state). Out of this mass of policy-altering endorsements, most designed to...
N.Y. Court: Insurer’s $5M Flood Sub-Limit Applies to Delay-in-Completion Loss
Jul 9 2015 // The New York Supreme Court’s Appellate Division affirmed that a $5 million flood sub-limit in a builders risk policy that Zurich American Insurance issued to a New York property developer applies to the...
U.S. Power Grid Attack Could Cause $70 Billion Insurance Losses: Lloyd’s Report
Jul 8 2015 // A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and...
PERILS 3rd Loss Estimate for Windstorm Ebon-Felix is $362 Million
Jul 8 2015 // PERILS AG has disclosed its third loss estimate for windstorm Elon-Felix which affected Western and Northern Europe between the 8th and the 12th of January 2015. The revised estimate of the property insurance market loss...
Can Lower-Income Households Afford to Live at the Jersey Shore Anymore?
Jul 6 2015 // It was a Superstorm Sandy double-whammy. About 15,600 rental units in New Jersey sustained severe damage during the hurricane, forcing thousands of renters out of their homes. These newly homeless tenants quickly learned...
How Hurricane Katrina Changed Business Preparation Planning for Disasters
Jul 6 2015 // Nearly 10 years ago, wind and storm surges as a result of Hurricane Katrina caused $41 billion in insured losses and $108 billion in total economic losses. Many of the lawsuits filed as a result of the fifth hurricane of...
Business Income: Why Worksheets Alone Don’t Work
Jul 6 2015 // Predicting the impact of a catastrophic event on an organization’s future income or profit is an exhaustive risk management exercise when done correctly. Typically chief financial officers, risk managers and...
Reinsurance Industry Faces Uncertain Future as Time Moves On
Jul 2 2015 // It’s around two months until the annual Reinsurance Rendezvous in Monte Carlo, where the reinsurers, brokers, carriers, lawyers, accountants and cat modelers discuss the state of their industry. That industry, until...
Report: California Workers’ Comp Losses and Expenses for 2014 Rise, Ratios Fall
Jul 1 2015 // Insurer losses and expenses rose in 2014 from the year before but ratios fell, a California Workers’ Compensation Insurance Rating Bureau report on workers’ comp losses and expenses for 2014 shows. The report...
BOPs Are Like Hospital Gowns – They Don’t Cover You Fully
Jun 30 2015 // Businessowners Policies, traditionally referred to simply as “BOPs,” were introduced in 1976 and significantly revised in 1987. The BOP evolved gradually from the 1987 revisions to include risk classification...
SpaceX Cargo Loss is Government’s, but Rocket Costs and Backlog Uncertain
Jun 29 2015 // SpaceX’s Falcon 9 rocket en route to the International Space Station erupted in flames on Sunday moments after its launch, delivering a potential business interruption blow to the so-far highly successful private...
Towergate Insurance Reports Q1 Net Income of $134 Million; Down 8%
Jun 29 2015 // Towergate Insurance reported first quarter income of £86 million ($134 million), down 8 percent from £93 million ($145 million) reported for the same period in 2014 – with its performance adversely affected by the...
Cat Modeling in a New, More Open Phase: Aon Benfield/Impact Forecasting
Jun 23 2015 // Over 30 years ago, Karen Clark produced the first catastrophe model – for hurricanes. Since then the use of these valuable tools has changed the face of the re/insurance industry. They are indispensable for the...
Allstate Estimates May Catastrophe Losses at $178M
Jun 19 2015 // The Allstate Corp. has estimated its catastrophe losses in the U.S. for the month of May 2015 of $178 million before tax from eight events. Four severe weather events accounted for over 77 percent of the estimated...
Strong Capacity Drives Buyer’s Market in Political Risk Insurance: Marsh
Jun 17 2015 // Abundant capacity and strong competition have contributed to a favorable marketplace for buyers of political risk insurance globally, according to Marsh’s “Political Risk Market Update,” published this...
Louisiana Farmers, Ranchers Face ‘Total Loss’ from Flooding
Jun 15 2015 // It will be weeks, perhaps months, before it’s known how much damage the recent flooding from the Red River has done to Louisiana’s agriculture industry. James Wagley, Natchitoches Parish president for Louisiana...
Ohio Beekeepers Report Year-over-Year Colony Losses
Jun 11 2015 // Ohio beekeepers say they’ve lost much of their beehive colonies this past year, and that keeping their bees healthy is becoming increasingly difficult. From April 2014 to April 2015, Ohio beekeepers reported losing...
NU Holdings Acquires Indianapolis Loss Control Services Firm
Jun 10 2015 // NU Holdings Inc., based in Dayton, Ohio, has acquired Indianapolis-based Thorn Valley Enterprises, which provides loss control services to insurers and general agencies. Thorn Valley has been in operation since...
