Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
A.M. Best: P/C Industry Posts 1Q Underwriting Profit
Jul 9 2007 // The U.S. property/casualty industry followed record profits in 2006 with continued favorable trends in first quarter 2007, posting net income after taxes of $16.7 billion. An underwriting gain of $8.0 billion and net...
Poll: Washington Driver Speed Connected to Household Income
Jul 2 2007 // Washington drivers who earn a household income of more than $75,000 are more likely than their counterparts to speed and talk on a cell phone, according to data from a poll conducted by PEMCO Insurance...
Tahoe Fire Losses Could Reach $150 Million, Victims May Be Underinsured
Jul 2 2007 // Insured loss estimates for the Angora Fire burning in Lake Tahoe have been upped to $100 million to $150 million, according to Risk Management Solutions, a Newark, Calif.-based risk modeling company. However, the...
RMS Estimates UK Insured Flood Losses Will Exceed $1 Billion
Jun 29 2007 // Risk Management Solutions has issued a preliminary estimate of the insured losses from the past week’s floods in the UK, indicating that they “could exceed £500 million [$1 billion].” Heavy rainstorms...
P/C Industry Net Income, Overall Profitability Slip in 1Q 2007
Jun 28 2007 // The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to...
Lake Tahoe Fire Estimated to Incur More than $25 Million in Losses
Jun 26 2007 // A wildfire in Lake Tahoe, Calif., that has destroyed at least 220 homes and forced about 1,000 people to flee their neighborhoods along the Lake’s southern edge as of Monday is anticipated to incur more than $25...
Kan. Commissioner Says Insured Storm Losses for May Total $230 Million
Jun 20 2007 // Kansas Insurance Commissioner Sandy Praeger says the 2007 storm season in Kansas so far has accumulated $230 million in losses of insured property and crops during the month of May 2007. “We experienced a terrible...
Indemnity Underwrites Private Company and Not-for-Profit Risks
Jun 20 2007 // Beaverton, Ore.-based Indemnity Excess & Surplus Agency, a professional lines and specialty lines wholesale brokerage firm, is using i-bind technology system to procure management liability insurance for private...
Improving experience modifiers lowers workers’ comp premiums
Jun 18 2007 // Experience rating is the interaction of claims management and insurance pricing. An organization that controls its losses also controls its experience modifier and ultimately is responsible for higher or lower...
Workers’ comp writers report best underwriting results in decades
Jun 18 2007 // The workers’ compensation calendar year combined ratio stands at 96.5 percent — the best underwriting result in at least 30 years and the first underwriting profit for the line since 1995, according to the...
Best Affirms AIG’s ‘Superior’ Ratings
Jun 14 2007 // A.M. Best Co. has affirmed the financial strength ratings of American International Group Inc. and a number of companies that are part of AIG, as follows: — AIG’s life and retirement services subsidiaries...
Ill. Group Offers New Information on Terrorism Loss Costs, Rating Factors
Jun 12 2007 // Wheaton, Ill.-based the American Association of Insurance Services (AAIS) recently announced that it will initiate a countrywide filing of new Businessowners (BOP) manual supplements that include new terrorism loss costs...
Banks Boost Insurance Brokerage Fees for First Quarter
Jun 6 2007 // Bank insurance brokerage fee income was up 3.9 percent year-to-date through March 31, 2007, compared to the first quarter of 2006, according to the Michael White-Symetra Bank Fee Income Report (Bank-FIR). The Bank-FIR...
Insurers try to prevent losses in wildfire hotspots
Jun 4 2007 // Spooked by devastating wildfire seasons, the nation’s top insurers are inspecting homes in high-risk areas throughout the West and threatening to cancel coverage if owners don’t clear brush or take other...
Insurers try to prevent losses in wildfire hotspots
Jun 4 2007 // Spooked by devastating wildfire seasons, the nation’s top insurers are inspecting homes in high-risk areas throughout the West and threatening to cancel coverage if owners don’t clear brush or take other...
Minimizing risks for global catastrophes
Jun 4 2007 // Managing catastrophe risk is one of the biggest challenges facing any company’s risk manager. For multinational companies, the challenge of managing catastrophe risk is especially daunting. In the United States, risk...
Zurich Increases Key Profit Target
May 24 2007 // Zurich Financial Services Group has revised its strategic direction to the market with the announcement that its mid-term target for its key financial metric, increasing the BOP (business operating profit) (after tax) ROE...
Deputy Marshal in W.Va. Sues Zicam Maker Over Loss of Smell
May 23 2007 // A deputy U.S. marshal from Putnam County is suing the maker of a popular cold remedy, saying it caused him to lose his sense of smell, which is critical to his line of work. William L. Seckman, 42, who works in and around...
EMC Insurance reports tornado losses at $21 million
May 21 2007 // EMC Insurance Cos. said it expects to see losses of up to $21 million from storms in May, including devastating tornadoes that killed at least 11 people in Kansas. Des Moines-based EMC insures several businesses and homes...
S&P Lowers RVI Guaranty Ratings
May 21 2007 // Standard & Poor’s Ratings Services has lowered its rating on R.V.I. Guaranty Co. Ltd., R.V.I. America Insurance Co., and R.V.I. National Insurance Co. (collectively referred to as RVI) to “A-” from...
