Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Dealing with It: Texas’ Never Ending Hail Problem
Jul 6 2018 // Texas has a hail problem. OK, from an insurance perspective, Texas has a weather problem, period, but that’s another story altogether. Back to hail. On June 6, a hailstorm walloped heavily populated areas of North...
Insured Losses for Europe’s Storm Burglind/Eleanor Rise to €724M ($842.3M): PERILS
Jul 3 2018 // The estimate of insured losses from Europe’s windstorm Burglind, also known as Eleanor, have risen to €724 million (US$842.3 million), according to PERILS, the Zurich-based organization that provides industry-wide...
California Commissioner Orders Workers’ Comp Insurers to Report Federal Income Tax Savings
Jul 2 2018 // California Insurance Commissioner Dave Jones announced today issued an order that every insurer licensed to write workers’ compensation in the state must report their federal income tax savings annually through a...
Dealing with It: Texas’ Hail Problem Is Not Going Away
Jul 2 2018 // Texas has a hail problem. OK, from an insurance perspective, Texas has a weather problem, period, but that’s another story altogether. Back to hail. On June 6, a hailstorm walloped heavily populated areas of North...
Rising Homeowners Losses Hurt P/C Insurers: Fitch
Jul 2 2018 // Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal auto insurance contributed...
Fury of Hailstorms Battered Colorado, Insured Losses ‘Skyrocketing’
Jun 28 2018 // The hailstorms that hit Northern Colorado and the Denver-metro just over a week ago carried a $276.4 million insurance price tag. The storms followed a Southern Colorado hailstorm a week earlier that caused an estimated...
Every $1 Spent in Hurricane Protection Lowers Property Loss Exposure by $105
Jun 28 2018 // Every $1 a business spends on hurricane protection reduces loss exposure by an average of $105. That’s based on an analysis by global commercial and industrial property insurer firm FM Global, which reviewed loss and...
What’s Ahead for Reinsurance Industry in 2018: Fitch
Jun 27 2018 // The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits...
Rising Homeowners Losses Hurt P/C Insurers in 2017: Fitch
Jun 18 2018 // Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal automobile insurance contributed...
Keeping Up With Construction Insurance
Jun 18 2018 // Brokers who specialize in the construction industry love their clients and are very committed to keeping up with their needs. Ask them, “So what’s new?” and the conversations inevitably veer off in...
KCC Estimates Insured Losses from Alberto to Near $50M
Jun 18 2018 // Insured losses from Subtropical Storm Alberto, the first named storm of the 2018 hurricane season, will be close to $50 million, according to Karen Clark & Co. KCC’s High Resolution U.S. Hurricane Model estimated...
Cyber Business Interruption Remains Area of Uncertainty for Insurance
Jun 12 2018 // Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats? Panelists at the 2018 PLUS Cyber Symposium,...
Insurers’ Earnings Volatility Tied to Equities Accounting Change
Jun 11 2018 // Many insurers and reinsurers are facing some earnings volatility in 2018 due to a change in accounting requirements for equity securities, Fitch Ratings said in new market commentary. According to Fitch, companies with...
North Carolina Farmers Begin Tallying Flood Losses from Alberto
Jun 4 2018 // Farmers in western North Carolina are adding up their losses after the heavy rains from Subtropical Storm Alberto. Hendersonville farmer Randy Edmundson thinks about 70 of his 110 acres (44 hectares) are under water after...
I Used to Walk to School and Home Uphill Both Ways
Jun 4 2018 // An interview was recently published in a major industry publication with a notable ex-CEO of a prominent insurance company. Throughout the article, the ex-CEO bemoaned how power and profit has shifted to brokers from...
TWIA Seeking Preliminary $175M Insurer Assessment for Harvey Losses
Jun 4 2018 // The Texas Windstorm Insurance Association is seeking regulatory approval for a $175 million assessment to TWIA’s insurance company members for Hurricane Harvey losses. Harvey made landfall on the Texas coast on Aug....
Caribbean Insurers Well-Capitalized Despite 2017 Hurricane Losses: A.M. Best
Jun 1 2018 // An analysis of A.M. Best-rated property/casualty insurers based in the Caribbean reveals that hurricanes Irma and Maria were mainly earnings events, and that the responsiveness of reinsurers allowed these insurers to...
CoreLogic: Texas, Louisiana Highly Vulnerable to Hurricane Storm Surge Losses
May 31 2018 // Texas and Louisiana are among the top three states for potential storm surge losses at the start of the 2018 hurricane season, which begins on June 1. That’s according to Irvine, California-based CoreLogic, a...
Karen Clark & Co. Estimates Insured Losses from Alberto to Near $50M
May 31 2018 // Insured losses from Subtropical Storm Alberto, the first named storm of the 2018 hurricane season, will be close to $50 million, according to Karen Clark & Co. KCC’s High Resolution U.S. Hurricane Model estimated...
California Commissioner: Insurers Pocketing Comp Profits, Not Passing Savings to Employers
May 29 2018 // California Insurance Commissioner Dave Jones on Tuesday adopted a revised workers’ compensation insurance advisory pure premium rate by lowering the benchmark to $1.74 per $100 of payroll for workers’ comp. The...
