Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap
Jan 22 2019 // The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses,...
California Wildfires, Hurricane Michael Top List of 2018’s Costliest Natural Disasters: Munich Re
Jan 21 2019 // The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last...
Industry Trends to Exploit for 2019
Jan 21 2019 // It is time to take out our crystal ball and plan for 2019 and how our insurance industry will be impacted by the trends around us. Those that consider these changes, and plan ahead, will usually be in a better position...
Argo Estimates Losses from Q4 Natural Catastrophes, Other Claims to Hit $44M
Jan 18 2019 // Argo Group International Holdings, Ltd., the Bermuda-based re/insurer, announced a preliminary pre-tax catastrophe loss estimate of $32 million for the fourth quarter of 2018, primarily related to Hurricane Michael and the...
Final Insured Losses for Europe’s Storm Friederike/David Estimated at €1.7B: PERILS
Jan 17 2019 // The final loss estimate for Extratropical Cyclone Friederike, also known as David, reached €1.672 Billion ($1.906 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Research Suggests Marijuana Users More Likely to Be Fired or Laid Off
Jan 17 2019 // As U.S. rates of marijuana use continue to rise, workers who use marijuana may be at higher risk of losing their jobs. Job loss may be an overlooked social cost of marijuana use, according to the new research by Cassandra...
Markel Faces Investor Lawsuit Over CATCo Loss Reserves
Jan 17 2019 // Markel Corp. is facing is class action shareholder lawsuit over reserve statements by its investment management unit that are being investigated by U.S. and Bermuda authorities New York law firm Bragar Eagel & Squire...
Cyber Joins Business Interruption as Top Global Business Risks: Allianz Survey
Jan 16 2019 // Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes...
Multiple Smaller Natural Disasters in 2018 Created ‘Unusual’ Insured Loss Picture: Willis
Jan 16 2019 // Insured loss estimates from major natural catastrophes in 2018 totaled roughly $71.5 billion, the highest since 2011’s annual market losses of $120 billion, according to Willis Re. However, the insured losses in 2018...
Woodruff Sawyer in California Names Overbay COO, Allen Chief Revenue Officer
Jan 14 2019 // San Francisco, Calif.-based Woodruff Sawyer has promoted Zac Overbay to the position of chief operating officer, and Norman Allen has been named chief revenue officer. As COO, Overbay will direct the firm’s...
Arch Capital Estimates Q4 2018 Catastrophe Losses Could Total $130M
Jan 11 2019 // Arch Capital Group Ltd. reported an estimated range of fourth quarter pre-tax losses of $110 million to $130 million from global natural catastrophes, including Hurricane Michael and California wildfires. These estimates...
Global Reinsurance Capital Is Resilient Despite Losses of $230B over 2 Years: Aon
Jan 11 2019 // Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of...
California Wildfires, Hurricane Michael Top List of 2018’s Costliest Natural Disasters: Munich Re
Jan 8 2019 // The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last...
Smart Car Makers See Safety Enhancements Turning Into Revenue Opportunities
Jan 8 2019 // As vehicles get smarter, your car will be keeping eyes on you. This week at CES, the international consumer electronics show in Las Vegas, a host of startup companies will demonstrate to global automakers how the sensor...
Final Insured Losses for Europe’s Cyclone Burglind Reach €756M ($862.1M): PERILS
Jan 3 2019 // The final estimate of insured property losses from Europe’s Extratropical Cyclone Burglind, also known as Eleanor, have risen to €756 million ($862.1 million), according to PERILS, the independent Zurich-based...
January Renewals Show Higher Prices for Clients with Poor Loss Records: Willis Re
Jan 2 2019 // Reinsurance placements at Jan. 1, 2019 highlight a pricing gap between accounts with peak peril exposures, or poor loss records, and the rest, with many reinsurers placing emphasis on the quality of client counterparties,...
Reinsurance Prices Drop – Despite 2018’s Big Natural Catastrophe Losses: JLT Re
Jan 2 2019 // JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second...
Insurance Journal West’s Top Stories for 2018: California Commissioner Race, Hawaii Lava, Wildfire Losses
Dec 31 2018 // Another year down, and too many fascinating news headlines to count. Hawaii’s lava, the race for California insurance commissioner, and a $23 million ruling in a lawsuit against Geico were among the most popular...
Georgia Farmers Eligible for Loans to Cover Hurricane Losses
Dec 21 2018 // Some Georgia farmers are eligible for federal loans to help cover the costs of losses sustained because of Hurricane Michael. The Augusta Chronicle reported Tuesday that Agriculture Secretary Sonny Perdue designated...
AIR Estimates Marriott Cyber Breach Direct Losses Could Reach $600 Million
Dec 21 2018 // Marriott International Inc. will be dealing with direct cyber incident losses from its massive data breach of between $200 million and $600 million, according to an AIR Worldwide estimate. Marriott disclosed on Dec.1 that...
