Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Report: Louisiana Sees 13 Consecutive Quarters of Personal Income Growth
Sep 24 2019 // Data released by the Bureau of Economic Analysis (BEA) shows that Louisiana personal income grew by $2.67 billion to $224.43 billion between 2019 Q1 and 2019 Q2, a new series record. Louisiana personal income has grown for...
Workers’ Comp Loss Costs to Drop 5% in Oklahoma Next Year
Sep 24 2019 // A 5.1% percent decrease in workers’ compensation insurance loss costs in Oklahoma for 2020 has been approved by Insurance Commissioner Glen Mulready, the state insurance department announced. Loss costs are the...
Staying Profitable in an Increasingly Fragmented World: SCOR Global P&C CEO
Sep 23 2019 // There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions...
Re/insurers Rethink Climate Change Risks as Losses Grow from Wildfires, Floods, Hail
Sep 20 2019 // By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer...
Lloyd’s Returns to Profit in 1st Half After 2 Full Years of Losses
Sep 18 2019 // Lloyd’s of London, the world’s biggest insurance market, returned to profit in the first half after two full-year losses. The more than 300-year-old corporation made a profit before tax of 2.3 billion pounds...
Chubb Personal Auto Service Protects Insured Info for Total Loss Vehicles
Sep 18 2019 // Chubb has launched a new service designed to help personal auto clients remove sensitive electronic information from their vehicles in the event of an insured total loss. “While hands-free GPS and mobile connectivity...
Catastrophe Modelers: U.S. Insured Losses from Dorian Could Reach $1.5B in U.S.
Sep 17 2019 // Catastrophe modeling firms Karen Clark & Co. and RMS have released insured loss estimates for Hurricane Dorian, ranging from $500 million to $1.5 billion. According to KCC, Dorian reached peak intensity of 185 mph...
Insured Losses for Typhoon Faxai Estimated at US$3B-US$7B: AIR Worldwide
Sep 16 2019 // Industry insured losses from Typhoon Faxai, which made landfall in Japan on Sept. 9, will be between 340 billion Japanese yen (US$3 billion) and 740 billion yen (USD 7 billion), estimated Boston-based catastrophe risk...
When Billion Dollar Cyber Losses Strike: Guy Carpenter/CyberCube
Sep 16 2019 // As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the...
California Lawsuit Over Profits From Fox Series “Bones” is Settled
Sep 13 2019 // A lawsuit over profits between the producers and stars of the show “Bones” and 21st Century Fox has been settled. The two sides in the long-running lawsuit over the hit Fox TV show filed documents saying the...
Insurance Linked Securities in 2019: Asking the Right Questions
Sep 11 2019 // The record losses we saw in 2017 and 2018 were felt heavily by the insurance industry, and there is no denying that two years of losses have affected investor sentiment. While such a statement is hardly surprising, it is...
Loss Creep Spells End to Soft Reinsurance Market: Guy Carpenter
Sep 10 2019 // Extended development from North American hurricane losses and losses from non-peak perils like California wildfires have finally jolted reinsurers out of a soft reinsurance market, according to a report from reinsurance...
Hurricane Dorian Insured Losses in Caribbean from Wind, Storm-Surge Could Hit $6.5B
Sep 10 2019 // Insured losses in the Caribbean from Hurricane Dorian is estimated at $3.5 billion to $6.5 billion, according to RMS, the risk modeling and analytics firm. This estimate represents insured losses associated with wind and...
Billion Dollar Loss Scenarios Point to Need to Better Understand Cyber Events
Sep 9 2019 // As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the...
Aon Launches Real-Time Loss Forecasting for U.S. Hurricanes, European Windstorms
Sep 9 2019 // Aon plc has launched Automated Event Response (AER), designed to enable insurers to view real-time portfolio risks from two of the costliest perils: U.S. hurricane and European windstorm. Insurers, which aim to indemnify...
Total Losses in Bahamas from Hurricane Dorian Estimated at $7 Billion
Sep 5 2019 // Hurricane Dorian inflicted an estimated $7 billion in total insured and uninsured losses on the Bahamas, according to catastrophe risk modeling firm Karen Clark & Company (KCC). This includes building, contents, and...
ISU Network – #2 Agency Partnerships 2019
Sep 2 2019 // $559,580,000 2018 Total P/C Revenue ISU Network limits its size by adding new members, mid-sized to large agencies, by invitation only. But while this agency partnership is small in number, it’s not small in...
First-Half 2019 Records Drop in P/C Insurers’ Underwriting Income; Downgrades Outpace Upgrades: A.M. Best
Sep 2 2019 // The U.S. property/casualty industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period, A.M. Best reports. Also, ongoing...
What You Should Know Before Joining an Agency Network
Sep 2 2019 // Today is a great time to be an independent agent, but running an independent agency is not easy. Without an awareness of how the industry is evolving, and having access to ongoing training and education, you may not be...
Japan Quakes to Cost Insurance Industry $2B-$3B Annually: Karen Clark & Co.
Aug 30 2019 // For insurers and reinsurers, the 1995 Kobe earthquake produced $3 billion in insured property losses, but a repeat of a more devastating quake that happened 72 years earlier could bring $225 billion in industry losses. And...
