Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Alternative Capital Responds to 2017 Catastrophes with ‘Show of Strength’: Aon Benfield
Jan 11 2018 // Hurricanes Harvey, Irma and Maria represented the first real test of the staying power of the alternative capital sector, which has responded with a show of strength by continuing to fund reinsurance capacity, according to...
XL Group: Loss Estimates of $45M Related to Southern California Wildfires
Jan 11 2018 // XL Group Ltd. on Wednesday announced preliminary estimates of natural catastrophe net losses of roughly $45 million related to the recent wildfires in Southern California and $20 million related to other events. The...
California Wildfires Top Arch Capital’s Q4 Catastrophe Losses of $60M-$75M
Jan 10 2018 // Arch Capital Group reports estimated pre-tax losses of $60 million to $75 million from fourth quarter catastrophic events, primarily the California wildfires. This estimated range of losses – net of reinsurance...
Florida Appeals Court, Regulator Reject Policy Language Aimed at Curbing AOB Abuse
Jan 10 2018 // A Florida appeals court has sided with the state’s insurance regulator in rejecting policy language filed by a Florida homeowners insurer to restrict the use of assignment of benefits. The decision could have a...
Parametric Insurance Can Help Close Global Protection Gap: Clyde & Co. Report
Jan 9 2018 // Parametric insurance can play a significant role in closing the insurance protection gap – a problem that plagues economies in both the developing and developed world, according to a report published by Clyde &...
London’s Brexit-Related Job Losses May Not Be as High as Initially Feared
Jan 8 2018 // British banking, insurance and asset management job losses to the European Union due to Brexit might not be as heavy as initially feared, the City of London financial district said on Monday. Jeremy Browne, the...
Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters
Jan 8 2018 // Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling...
Insured Losses for Germany’s Cyclone Xavier Rise to US$391.5M: PERILS
Jan 5 2018 // The insured property market loss for Extratropical Cyclone Xavier, which affected Germany on Oct. 5, 2017, has risen to €325 million (US$391.5 million)., according to data released by PERILS, the independent Zurich-based...
Policy Language Leads to $200K Loss for Insurer in Michigan Lawsuit
Jan 4 2018 // A dispute over four words will cost an insurance company about $200,000. A federal appeals court in Michigan has ruled in favor of a man in the Grand Rapids area who suffered serious injuries during a motorbike crash in...
Natural Catastrophe Claims in 2017 Reached a Record $135B: Munich Re
Jan 4 2018 // The insurance industry will pay record claims of US$135 billion from last year’s spate of natural catastrophes, according to a report published by Munich Re. Further, Hurricanes Harvey, Irma and Maria (HIM), the...
4 Reasons Your Insured Wants Ordinance or Law Coverage
Jan 3 2018 // I am very much like other people in that I like to take time off during the holiday season. It’s a time for me to rest, relax, refresh, and reflect. OK. Who am I kidding? You know what happens during the holiday...
What They Are Saying About Effects of Trump Tax Cuts on Insurance Industry
Dec 22 2017 // Congress has passed and President Donald Trump has signed the Tax Cuts and Jobs Act (HR1) into law. It is the biggest tax change in 30 years. Under the legislation, insurers, agencies and other businesses organized as C...
Delta Projects Revenue Hit of Up to $50M From Atlanta Airport Outage
Dec 22 2017 // The CEO of Delta Air Lines says the company will seek compensation for its losses after a power outage knocked out the Atlanta airport’s power supply and also its backup electricity for about 11 hours Sunday. The...
Swiss Re Says Global Insured Catastrophe Losses Will Hit $136B in 2017
Dec 20 2017 // Swiss Re AG estimates that global insured losses from catastrophes in 2017 will hit $136 billion, the third-highest on record for the sector, with the United States hardest hit, it said on Wednesday. Total economic losses...
Catastrophe Bond Managers Put Hurricanes Behind Them, Plan New Launches
Dec 20 2017 // Hedge funds and other managers of catastrophe bond funds racked up some of the worst losses in more than a decade from this year’s hurricanes and wildfires. But a year that is shaping up to be the costliest on record...
The Charity Issue: Photos of Giving
Dec 18 2017 // The Keane Insurance Group John Keane, president of The Keane Insurance Group, founded the Keane Charitable Group in 2010 after the earthquake in Haiti. Since then, The Keane Group has raised more than $1 million to build...
Despite Insurance Losses, Berkshire Stock Joins Exclusive Club
Dec 18 2017 // Berkshire Hathaway Inc.’s stock price touched $300,000 for the first time on Monday, reflecting investors’ confidence in Warren Buffett’s conglomerate despite four straight quarters of lower operating...
6 Industry Trends to Exploit for 2018
Dec 18 2017 // To prepare for the future, business owners need to observe what trends are occurring and then evaluate how those trends could impact their business. It is a guessing game, but an educated guess is usually proven to be...
Deadline for Louisiana Flood Insurance Proof of Loss Is Dec. 31
Dec 14 2017 // The end of the year deadline for National Flood Insurance Program (NFIP) policyholders affected by the flooding in August 2016 of South Louisiana is fast approaching. After six extensions, the deadline for the filing of...
What to Know About the Senior Care Market
Dec 13 2017 // The aging U.S. population will create unprecedented demand for the senior living industry for decades to come and that opens the door for agents and brokers to grow their business in this sector. But understanding the...
