Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Deadline Nears for for Georgia Workers Seeking Flood Income Assistance
Oct 21 2009 // Workers in eight Georgia counties have until Monday to file initial claims for federal Disaster Unemployment Assistance to compensate for loss of income directly resulting from severe storms and flooding last month. DUA is...
Mississippi Court Rules Home Policy Covers Hurricane Wind Damage
Oct 19 2009 // In a 9-0 decision, the Mississippi Supreme Court has ruled that so-called “all-risk home insurance policies may cover wind damage from hurricanes, even in situations where the loss is later exacerbated by water from...
Mississippi Court Rules Home Insurance Policy Covers Hurricane Wind Damage
Oct 9 2009 // In a 9-0 decision, the Mississippi Supreme Court has ruled that so-called “all-risk” home insurance policies may cover wind damage from hurricanes, even in situations where the loss is later exacerbated by...
Loss Control Leads to $801K Dividend for Texas Auto Dealers
Oct 9 2009 // Workers’ compensation insurer Texas Mutual Insurance Company announced an $801,625 dividend to the Lone Star Auto Dealers (LSA) purchasing group. LSA has earned nearly $4 million in dividends since 2002. The dividend...
Hurricane Losses Color Florida’s Deficit
Oct 5 2009 // A Florida House-Senate budget panel has added the state’s risk of incurring billions of dollars in possible hurricane insurance losses to Florida’s long-range financial outlook. The new changes could dwarf...
Bank Insurance Program Productivity Up 12.5% in 2009
Sep 29 2009 // The production of insurance brokerage fee income per bank employee continued to rise through the first two quarters of 2009 to exceed year-end 2008 productivity by 12.5 percent, according to the Michael White-Prudential...
A.M. Best: Surplus Lines Results Dip in Response to Competition, Losses
Sep 28 2009 // In 2008, the underwriting and operating performance of surplus lines companies continued to outpace that of the total property/casualty industry, although at a diminished level from 2007 due to persistent soft market...
Georgia’s Flood Loss Estimate Doubles to $500 Million
Sep 28 2009 // Georgia Insurance Commissioner John Oxendine has raised the estimated cost of damage caused by heavy flooding in parts of north Georgia to $500 million. The new figure is twice as much as last Tuesday’s initial...
P/C Industry Net Income Falls Nearly 60% in First-Half 2009
Sep 28 2009 // Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their...
Lloyd’s First Half 2009 Pretax Profits up 29% to $2.18 Billion
Sep 24 2009 // Lloyd’s conservative management, combined with a notable lack of major natural catastrophes, has resulted in a £1.32 billion ($2.18 billion) pretax profit for the first half of 2009, compared to £949...
Insurance Execs Not Confident of Underwriting Profit Over Next 3 Years
Sep 23 2009 // Insurance executives see their companies performing above general market expectations in 2010, but their outlook on the industry’s ability to generate underwriting profit in the next one to three years remains...
Losses in Georgia from Floods at $250 Million; Most Uninsured
Sep 23 2009 // Flooding across north Georgia over the past few days has caused an estimated $250 million in losses, as much as 80 percent of that likely uninsured, according to state Insurance Commissioner John W. Oxendine. Oxendine said...
Missouri: Medical Malpractice Insurers Profitable 5 Years in a Row
Sep 21 2009 // Insurance companies providing medical malpractice coverage in Missouri were profitable in 2008. It was the fifth consecutive year for positive earnings in that line of insurance, according to Missouri Department of...
Potential Hurricane Insurance Losses Added to Florida’s Long-Range Deficit Projections
Sep 17 2009 // A House-Senate budget panel has added the state’s risk of incurring billions of dollars in possible hurricane insurance losses to Florida’s long-range financial outlook. The new changes could dwarf potential...
Text: Sen. Baucus Introduces to Senate Financial Committee Health Bill
Sep 16 2009 // The following announcment was released by the office of Senate Finance Committee Chairman Max Baucus (D,Mont.). Senate Finance Committee Chairman Max Baucus (D,Mont.) today introduced the America’s Healthy Future...
Text: Senate Finance Committee’s America’s Healthy Future Act of 2009
Sep 16 2009 // Chairman’s Mark America’s Healthy Future Act of 2009 Scheduled for Markup By the Senate Committee on Finance On September 22, 2009 America’s Healthy Future Act of 2009 TITLE I—HEALTH CARE...
Swiss Re Cites Report on Developing Countries Climate Change Costs
Sep 15 2009 // A report, published on Swiss Re’s web site from the Economics of Climate Adaptation Working Group, indicates that climate risks could cost nations up to 19 percent of their GDP by 2030, with developing countries most...
Missouri: Medical Malpractice Insurers Profitable for 5th Year in a Row
Sep 8 2009 // Insurance companies providing medical malpractice coverage in Missouri returned a profit in 2008, marking the fifth consecutive year of positive earnings, Missouri Department of Insurance says. The department said its...
Oregon Says Workers’ Comp Must Pay for Weight Loss Surgery
Sep 7 2009 // Weight-loss surgery can be covered in Oregon by workers’ compensation provided it is needed to treat a job-related injury. The Oregon Supreme Court ruled that SAIF Corp., the state chartered agency, must pay for...
Buyer and Agent Beware
Sep 7 2009 // BOP’s Changes for the Better or Worse? Just when I really think I understand a coverage I am blind-sided by the reality of what is actually happening in the insurance industry. I remember the good old days when a...
