Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Alaska Railroad: Flood Damage, Lost Revenue May Top $1M
Sep 26 2012 // Washouts of railroad track after heavy rains and revenue lost because of idled trains are likely to cost the Alaska Railroad more than $1 million, a spokeswoman said Monday. “We’re still tallying the...
Lloyd’s 1st Half Profits at $2.4 Billion; CEO Cites ‘Disciplined Underwriting’
Sep 26 2012 // Lloyd’s of London’s first six months of 2012 financial figures couldn’t evince a greater difference from those posted in the first half of 2011. It posted profits of £1.53 billion ($2.47...
NAS Insurance Covers Lost Revenue From Cyber Breaches
Sep 24 2012 // NAS Insurance Services Inc. has launched an insurance coverage that pays companies for lost revenue in the event of a cyber breach. The new coverage, called BrandGuard, is a component of NetGuard Plus Cyber Liability...
Isaac Losses Won’t Strongly Impact P/C Industry in Louisiana
Sep 24 2012 // While insured losses in the United States from Hurricane Isaac likely will fall between $1 billion and $2 billion, according to some risk management experts, the storm’s impact will not severely impact the...
Mississippi Insurance Losses from Isaac Under $25 Million
Sep 21 2012 // Private insurers expect to pay more than $24.3 million in claims in Mississippi as a result of Hurricane Isaac, Insurance Commissioner Mike Chaney said. Chaney said that as of Sept. 19, Mississippi’s 21 largest...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Sep 20 2012 // A report out Thursday urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those endorsing...
Agents Cite Advance in Fight Against Medical Loss Ratio
Sep 20 2012 // A House subcommittee has advanced a bill that would exclude agency commissions from the formula that limits how much health insurers can spend on administrative and other non-medical costs. The U.S. House of...
Industry Faces Cyber Risks in Shift from Tangible to Intangible Property
Sep 20 2012 // If Mike McGavick is right, the business world will soon be carrying the equivalent of a massive data base in a cell phone. Technology has moved so rapidly that not only the insurance industry, but also business in general,...
Crop Insurance Losses Mount in Midwest
Sep 18 2012 // Thousands of farmers are filing insurance claims this year after drought and triple-digit temperatures burned up crops across the nation’s Corn Belt, and some experts are predicting record insurance losses —...
Isaac Losses Won’t Strongly Impact P/C Industry in Louisiana
Sep 14 2012 // While insured losses in the United States from Hurricane Isaac likely will fall between $1 billion and $2 billion, according to some risk management experts, the storm’s impact will not severely impact the...
Hurricane Isaac Insured Losses to Reach $1-$2 Billion: RMS
Sep 14 2012 // U.S. insured losses from Hurricane Issac’s wind and surge impacts on the U.S. Gulf Coast will fall between USD$1−2 billion, excluding rainfall driven flood losses and all National Flood Insurance Program losses,...
Isaac Damage to Louisiana Agriculture Estimated at $100M
Sep 12 2012 // An assessment won’t be finalized until all harvests are complete, but it appears that an estimated $100 million in losses to Louisiana’s row crop industry resulted from Hurricane Isaac, state agriculture...
U.S. Treasury Expects $12.4 Billion Profit from Investment in AIG
Sep 10 2012 // The U.S. Treasury said on Monday it expects to raise $18 billion from its sale of American International Group shares, representing a profit of $12.4 billion to date on the Treasury and Federal Reserve’s investment...
Markel, Experian to Offer Data Breach Loss Control Resources
Sep 10 2012 // Markel has announced that it will now work with Experian Data Breach Resolution to provide loss control resources to its DataBreach policy holders. Owners of Markel’s DataBreach policy now will have access to...
P/C Insurers Show Improved Results Mid-Year: Fitch
Sep 10 2012 // U.S. property/casualty insurers’ operating performance improved significantly in the first half of 2012, according to Fitch Ratings. The aggregate combined ratio of 47 publicly traded property/casualty (re)insurers...
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
Sep 10 2012 // U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to 2011, driven by lower catastrophe losses and increased growth in earned premiums, said Moody’s...
Planners Craft Strategies to Help High-Earners Skirt New Healthcare Taxes
Sep 7 2012 // Tax planners are developing ways to help well-to-do U.S. clients avoid the full impact of taxes set to take effect next year under President Barack Obama’s healthcare overhaul. With some legal uncertainty still...
Aon Benfield August Cat Report Focuses on Isaac; Insurance Cover Disparity
Sep 7 2012 // Aon Benfield’s latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during August, notes that Hurricane Isaac was “the first land falling...
Swiss Re Report Analyzes Rise in Flood Losses – $15 Billion and Counting
Sep 6 2012 // A new report from Swiss Re underscores the fact the “insured flood losses have increased from $1–2 billion in 1970 to $15 billion in 2011, which it describes as an “alarming rate” while posing...
U.S. Insured Losses from Hurricane Isaac Could Reach $2B: AIR
Aug 31 2012 // Catastrophe modeling firm AIR Worldwide estimates that insured losses from Hurricane Isaac to onshore properties in the U.S. will be between $700 million and $2 billion. AIR estimates include wind and storm surge damage to...
