Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Storm Chasing Critical, Profitable and Dangerous
Jun 5 2013 // While most people take shelter when a tornado approaches, a growing throng heads for the prairies, be they scientists hoping to protect the public from a twister’s fury or amateurs armed with little more than a...
N.Y. Assembly Approves a Flurry of Post-Sandy Insurance Reform Bills
Jun 5 2013 // The New York State Assembly approved on Tuesday a comprehensive post-Sandy insurance reform package comprised of 14 pieces of legislation. All approved measures now move to the state Senate for further consideration. The...
New Fiscal Cliff Taxes and Insurance Agencies
Jun 3 2013 // We are all familiar with the old saying, “the only thing certain in life are death and taxes.” With the new tax laws that came into effect for 2013, we know this is really true now! Capital Gains and Flat Tax...
76 Tornadoes in May Caused $2B-$5B in Insured Losses: Eqecat
Jun 3 2013 // Tornadoes that struck the United States from May 18 to May 20 caused anywhere from $2 billion to $5 billion in insured losses, disaster modeling company Eqecat said. The firm said most of the losses were attributed to the...
Best Revises Outlook on Travelers and Most Subs to Positive; Affirms Ratings
May 31 2013 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the property/casualty...
A.M. Best Revises Ohio’s Buckeye Outlook to Negative
May 30 2013 // A.M. Best Co. has revised the outlook to negative from stable of Piqua, Ohio-based Buckeye State Mutual Insurance Co. and its insurance affiliates. The ratings firm also affirmed the financial strength rating of B+ (Good)...
N.Y. Compensation Insurance Rating Board Seeks 16.9% Hike in WC Loss Costs
May 24 2013 // The New York Compensation Insurance Rating Board (NYCIRB) said it submitted to the state’s Department of Financial Services last week a loss-cost filing for an overall average loss cost change of +16.9 percent. A...
76 Tornadoes in May Caused $2B-$5B in Insured Losses: Eqecat
May 24 2013 // Tornadoes that struck the United States from May 18 to May 20 caused anywhere from $2 billion to $5 billion in insured losses, disaster modeling company Eqecat said. The firm said most of the losses were attributed to the...
U.S. Accountants Group Backs BP on Curbing Oil Spill Payouts
May 23 2013 // A group of U.S. accounting professors is backing BP’s fight to rein in compensation it has to pay for the 2010 Gulf of Mexico oil spill, which is threatening to add billions of dollars to its growing bill for the...
Commentary: Accounting for Non-Modeled Sources of Loss
May 23 2013 // The purpose of modeling is to anticipate the likelihood and severity of catastrophes so that companies can prepare for their financial impact — before they occur. The evidence suggests that, for the most part,...
Karen Clark’s New Program Creates Realistic Hurricane Tracks, Loss Estimates
May 20 2013 // Just in time for the 2013 hurricane season, Karen Clark & Co. (KCC), a catastrophe risk and modeling firm, has released a scientific tool for creating hurricane tracks and wind speeds. Named WindfieldBuilder, the tool...
Risk Retention Groups Show Strong Financial Stability: Demotech
May 20 2013 // Risk retention groups (RRGs) continue to display strong and stable results, according to a recent analysis of year-end 2012 financial information. Demotech Inc., a financial analysis firm specializing in evaluating the...
UN: $2.5 Trillion in Global Disaster Losses Since 2000
May 17 2013 // Economic losses from disasters since 2000 are in the range of $2.5 trillion, a figure at least 50 percent higher than previous international estimates, according to a U.N. report. The U.N. Office for Disaster Risk...
Workers’ Comp Sees Encouraging Signs in 2012 Results: NCCI
May 16 2013 // The workers’ compensation market is seeing encouraging signs. Premiums grew for the second consecutive year, the combined ratio declined and claim frequency continued to improve at a pace slightly greater than its...
Medical Liability Market Profitable But Deteriorating Results Expected: Fitch
May 14 2013 // The medical professional liability insurance (MPLI) market was one of the most profitable lines of business in the United States for the past five years, according to a new report. MPLI posted an average calendar year...
Zurich Programs, Aon Affinity to Cover Non-Profit Long-Term Care Organizations
May 13 2013 // Zurich North America Commercial’s Programs & Direct Markets business has entered into an agreement with Aon Affinity, the consumer, association and group program business of Aon plc to offer coverage to...
$45 Million Global Cyber Bank Theft: Who Pays the Losses?
May 10 2013 // In one of the biggest ever bank heists, a global cyber crime ring stole $45 million from two Middle Eastern banks by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries, U.S....
Risk Retention Groups Continue to Display Financial Stability: Demotech
May 7 2013 // Risk retention groups continue to display strong and stable results, according to a recent analysis of year-end 2012 financial information. Demotech Inc., a financial analysis firm specializing in evaluating the financial...
Low Damage Claims Aid Reinsurers Q1 Earnings
May 7 2013 // Low damage claims and rising premiums helped to shield earnings at German reinsurers Munich Re and Hannover Re in the first quarter, as the sector battles to shore up profits amid record low interest rates. The two...
Argo Group Reports Q1 Net income of $32.7 Million; GPW of $438.2 Million
May 6 2013 // Bermuda-based Argo Group International Holdings, Ltd. reported increases in both gross premiums written and net income for the first quarter of 2103. GPW reached $438.2 million, up by $41.9 million, a 10.6 percent...
