Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Karen Clark & Co. Estimates $2.5B in Insured Losses from Hurricane Florence
Sep 18 2018 // Insured losses from Hurricane Florence will reach $2.5 billion, according to an estimate from Karen Clark & Co. The estimate of insured losses to residential, commercial, and industrial properties and autos comes from...
ILS Market Could Bear 20% of Hurricanes Harvey, Irma, Marie Loss: A.M. Best
Sep 17 2018 // The insurance-linked securities (ILS) market potentially could bear up 20 percent of the insured losses generated by Hurricanes Harvey, Irma and Marie, according to an A.M. Best report. These three hurricanes during a...
RMS Estimates Insured Losses from Typhoon Jebi Could Reach $5.5 Billion
Sep 14 2018 // The insured loss for Japan from Typhoon Jebi, which made landfall in Japan on Sept. 4, will be between USD$3 billion and $5.5billion (¥340 to ¥620billion), according to the global risk modeling firm RMS. Approximately 80...
Wind, Storm Surge Losses from Florence Could Reach $5B; Top 10 Insurers Affected in Carolinas
Sep 14 2018 // This enhanced satellite image made available by NOAA shows Hurricane Florence off the eastern coast of the United States on Wednesday, Sept. 12, 2018 at 5:52 p.m. EDT. (NOAA via AP) Hurricane Florence was downgraded to a...
Pay Attention to the Hurricane Deductible
Sep 12 2018 // It’s hurricane season. I’ll wait for your shock to subside. If you live in a coastal state from Texas on the Western Gulf Coast to Virginia, you already knew it was hurricane season. I’m just reminding...
Verisk Company PCS Adds Global Cyber Industry Loss Index
Sep 11 2018 // Property Claim Services (PCS), a Verisk business, has enhanced its PCS Global Cyber service with coverage for cyber catastrophe events. The inclusion of events with multiple insureds spanning both affirmative and silent...
Basketball Star Garnett Sues Accountant Over Loss of $77M to Wealth Manager
Sep 10 2018 // Kevin Garnett is suing an accountant and his firm, alleging they helped a wealth manager steal $77 million from the retired Minnesota Timberwolves and Boston Celtics star. The federal malpractice lawsuit alleges...
ILS Market Could Bear 20% of Hurricanes Harvey, Irma, Marie Loss: A.M. Best
Sep 10 2018 // The insurance-linked securities (ILS) market potentially could bear up 20 percent of the insured losses generated by Hurricanes Harvey, Irma and Marie, according to an A.M. Best report. These three hurricanes during a...
Insured Losses from Typhoon Jebi Estimated at $2.3-$4.5 Billion: AIR
Sep 9 2018 // Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoo Jebi, which made landfall in Japan on Tuesday, Sept. 4, will be between $2.3 billion (JPY 257 billion) and $4.5 billion (JPY...
Judge Tosses Uber Investors’ Class Action Bid Over Stock Losses
Sep 4 2018 // Uber Technologies Inc. and its former Chief Executive Officer Travis Kalanick defeated a lawsuit claiming the company swept illicit business practices under the rug that cost investors billions of dollars. U.S. District...
Constructive Tips for Reducing Equipment Losses at Jobsites
Sep 3 2018 // If you live in a city or nearby one and see new construction projects popping up at a rapid rate, you’re not alone. Cities throughout the United States are experiencing a boom in construction. Optimism is soaring to...
A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers
Sep 3 2018 // Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports last month. Everest Re was among those...
Report: Missouri Medical Professional Liability Insurers Saw Slight Profit in 2017
Sep 3 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
A.M. Best: Insurers Equipped to Handle Hurricane Lane Losses
Aug 29 2018 // A.M. Best is expecting Hurricane Lane to be considered more of a flood event than a wind event. As a result, the storm that buffeted Hawaii should bring a potential triggering of the National Flood Insurance...
P/C Insurance Industry Delivered Improved Results in First Half
Aug 29 2018 // Mid-year results for U.S. property/casualty insurers and reinsurers show they are on the mend following a trying 2017, according to Fitch Ratings. Operating performance moderately improved for P/C (re)insurers during the...
Big Insurers Still Taking a Pass on Marijuana Profits
Aug 24 2018 // Marijuana is already a multibillion-dollar business in the U.S. that’s drawing attention from some lawmakers eager for tax revenue and investors looking for profits. So far, however, some of the biggest insurers are...
Missouri Insurance Department: Medical Professional Liability Insurers Saw Tiny Profit in 2017
Aug 22 2018 // In 2017, poor underwriting results for medical professional liability insurers in Missouri were partially offset by higher investment returns, and insurers barely eked out a profit, earning a 0.2 percent return on net...
QBE’s Restructuring Gains Traction with Its Focus on Profitable Underwriting
Aug 22 2018 // QBE’s restructuring over the last year has focused on exiting loss-making businesses and portfolios, while rigorously emphasizing profitable underwriting across the group. Good progress has been made — as...
AIR Worldwide Estimates Insured Losses from Japan Floods Could Reach US$4B
Aug 21 2018 // Industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY284 billion (US$2.6 billion) and JPY423 billion (US$4.0 billion), according to...
China’s Ping An Insurance Profits Rise 34% in First Half, Biggest in 10 Years
Aug 21 2018 // Ping An Insurance Group Co of China , the country’s largest insurer by market value, on Tuesday reported its biggest half-yearly profit in at least a decade on robust customer growth. The results underline strength...
