Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Audit Criticizes Administration of Defense Base Insurance Program
Jul 29 2011 // A recent governmental audit of the workers’ compensation insurance program for U.S. government contractors working on Afghanistan reconstruction is highly critical of the program’s administration by the U.S....
Fairfax Financial Profit Rises on Investments
Jul 29 2011 // Fairfax Financial Holdings, which took a 9 percent stake in Bank of Ireland earlier this week, said Thursday its quarterly profit rose from a year earlier due mainly to increases in its stock and bond portfolios. The...
Conn. Museum Audit Reveals Losses of More Than $500,000
Jul 29 2011 // An investigation into employee theft at the Mark Twain House & Museum in Connecticut shows the organization lost more than $500,000. Executive Director Jeff Nichols told The Hartford Courant that an audit revealed...
Aon Q2 Profit Rises 69%
Jul 29 2011 // Insurance broker and risk services firm Aon Corp. reported that profit for the second quarter rose 69 percent to $258 million, as revenues were boosted by its $4.9 billion acquisition of Hewitt Associates last year. Total...
PartnerRe Comments on Financial Impact of Q2 Losses
Jul 28 2011 // Bermuda-based PartnerRe Ltd. has provided information on the net impact of catastrophe-related large losses affecting second quarter 2011 results. Significant losses, related to the tornadoes that struck the U.S. in April...
Validus, Transatlantic Miss Earnings Expectations
Jul 28 2011 // Reinsurer Validus Holdings Ltd missed second-quarter expectations, as underwriting income fell sharply and the company posted losses from the record-setting U.S. tornadoes of April and May. Validus is in the middle of a...
Iowa Receives Federal Waiver for Medical Loss Ratio Implementation
Jul 28 2011 // Iowa has received a waiver allowing an adjustment to some transitional Medical Loss Ratio (MLR) provisions of the federal Affordable Care Act in Iowa. The Department of Health and Human Services (HHS) granted the waiver...
Texas Agriculture Losses Could Set New Record Amid Drought
Jul 28 2011 // Randy McGee spent $28,000 in one month pumping water onto about 500 acres in West Texas before he decided to give up irrigating 75 acres of corn and focus on other crops that stood a better chance in the drought. He...
Second Quarter Earnings Reports: ACE Limited
Jul 27 2011 //
Post-Loss Assignments of Claims Under Insurance Policies in Louisiana
Jul 27 2011 // In the settlement of lawsuits involving insured claims, it is not uncommon that one condition of the settlement is that the defendant assign his or her claims under all applicable insurance policies to the party that filed...
Ohio’s Losses From 2011 Storms Top $500M
Jul 26 2011 // A handful of major storms that damaged parts of Ohio this year have caused more than a half-billion dollars in insured losses, and that number is expected to increase. Five storms have led to an estimated 125,000 claims...
Steamship Mutual to Launch ‘Piracy Menace’ Loss Prevention DVD
Jul 25 2011 // London-based Steamship Mutual, a leading P&I Club, announced the imminent launch of its latest Loss Prevention DVD entitled “PIRACY – The Menace at Sea”. The Club described the current piracy situation as...
Catastrophes Take Toll on EMC Insurance Group’s Q2 Results
Jul 22 2011 // EMC Insurance Group Inc., based in Des Moines, Iowa, announced that second quarter 2011 operating results will be negatively impacted by a record amount of catastrophe losses. It expects to report a second quarter 2011...
Travelers Posts Q2 Loss with $1 Billion in Tornado Costs
Jul 21 2011 // Travelers Cos. Inc. reported a second-quarter loss, missing analysts’ estimates by a huge margin as the property insurer suffered more than $1 billion in catastrophe losses from record-breaking tornadoes in April and...
Insurance Keywords Add Big to Google Profits
Jul 19 2011 // Insurance is adding big bucks to Google’s profitability, according to new research released today. After Google posted impressive profits for the second quarter 2011, almost $7 billion, Word Stream, a Boston,...
Post-Loss Assignments of Claims Under Insurance Policies
Jul 18 2011 // In the settlement of lawsuits involving insured claims, it is not uncommon that one condition of the settlement is that the defendant assign his or her claims under all applicable insurance policies to the party that filed...
Texas PEO Law Standardizes Rules for Releasing Workers’ Comp Loss Information
Jul 18 2011 // A new Texas law backed by agents groups requires professional employer organizations (PEOs) and staff leasing firms to provide workers’ comp loss information to employer clients in a timely manner. The Independent...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 18 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
From Trash to Treasure: Salvor Can Help to Manage Losses
Jul 18 2011 // When crises occur, one person the claims adjuster, insurer and insured should consider calling is a salvor – he or she can be a valuable partner in helping to clean up the trash, and broker the sale of any...
AXIS Puts Q2 Cat Losses at $90-$105 Million; Updates Q1 Estimates
Jul 15 2011 // Bermuda-based AXIS Capital Holdings Limited has estimated that the total net financial impact of the June 2011 aftershock in New Zealand and the series of severe weather events that occurred in the U.S. in April and May...
