Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Proposed N.J. Bill Would Require Insurers to Pay COVID-19 Business Interruption Claims
Mar 19 2020 // A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the constitutionality of legislation...
Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns
Mar 19 2020 // A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close...
Insurance Will Help But NCAA Faces Loss of Millions Due to Lost Tournament
Mar 19 2020 // The NCAA made more than $1 billion last year, almost $867 million from the men’s Division I basketball tournament, and most of that from a massive television rights deal with CBS and Turner that runs through the 2032...
Lloyd’s Asks Market Insurers to Provide Estimates for Coronavirus Losses
Mar 18 2020 // Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible...
PERILS to Include Australian Motor in Industry Catastrophe Exposure Update
Mar 16 2020 // PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced it will extend its line of business reporting to include Australian motor for personal and commercial...
Insurers Face Big Investment Losses, Trade Credit Claims from Coronavirus Crisis
Mar 12 2020 // Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy – a sharp rise in payouts at a time of big investment losses. Because...
How Much U.S. P/C Insurance Bottom Line Grew in 2019: A.M. Best
Mar 10 2020 // Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report. Underwriting income hit $4.1 billion in 2019, from a loss of $800 million in...
Europe’s Storm Dragi-Eberhard Cost Insurers €782M (US$882.9M): PERILS
Mar 9 2020 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, disclosed its fourth and final loss estimate of €782 million (US$882.9 million) for Europe’s Extratropical...
Insured Property Losses for Australia’s January Hailstorms Hit A$670M: PERILS
Mar 4 2020 // The initial insured property losses for January’s hailstorms in Australia are estimated at A$670 million (US$746.7 million), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions
Mar 4 2020 // Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The...
Agency M&As: Private Equity Still in Driver’s Seat; Digital Agencies Attract Attention
Mar 2 2020 // The private equity bandwagon continued to roll through the insurance agency and brokerage mergers and acquisitions territory in 2019. As many as two-thirds of all deals involved private equity, according to experts. Most...
USDA’s Wildfire Indemnity Program Offers Possible Drought Assistance for California Farmers
Feb 28 2020 // U.S. Secretary of Agriculture Sonny Perdue announced additional disaster assistance available to agricultural producers, including producers impacted by drought and excess moisture as well as sugar beet growers. California...
Q4 Earnings Briefs: State Auto, National General, Donegal, Safety, Protective
Feb 28 2020 // State Auto Financial State Auto Financial Corp. (STFC) reported fourth-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier. The Columbus, Ohio-based company said it had net income...
Insurance Coverage for Losses Stemming from the Coronavirus
Feb 26 2020 // The coronavirus has not only sickened tens of thousands of people, killed several hundred, and disrupted life for millions, but has also sharply impacted the second-largest economy in the world. Many Chinese companies have...
Florida Carriers Seek Staggering Rate Increases Amid Market Turmoil
Feb 25 2020 // It’s no surprise that Florida carriers are raising homeowners’ insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. What may...
Berkshire Hathaway P/C Insurance Profit Down in 2019
Feb 24 2020 // Full-year insurance results at Berkshire Hathaway disappointed in 2019, with after-tax earnings from underwriting falling to $325 million in 2019 compared to $1.6 billion in 2018. Earnings from primary insurance operations...
Financial Services Firms Risk $1 Trillion in Losses from Climate Change: Report
Feb 24 2020 // The world’s financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new report shows. The...
Agency Employee Satisfaction Falls Despite Pay Raise
Feb 24 2020 // Insurance agency personnel on average made a little more money in 2019 but they were not as happy as they were in 2018. Nearly all personnel — owners, producers and support staff — enjoyed a slight uptick in...
Amerisafe in Louisiana Reports 4Q Earnings of $34M
Feb 21 2020 // Amerisafe Inc. on Wednesday reported fourth-quarter earnings of $34 million. The Deridder, Louisiana-based company said it had profit of $1.76 per share. Earnings, adjusted for investment gains, were $1.70 per share. The...
State Auto Financial in Ohio Reports 4Q Net Income of $32.7M
Feb 21 2020 // State Auto Financial Corp. reported fourth-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier. The Columbus, Ohio-based company said it had net income of 72 cents per share....
