Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Vietnam Suffers Rare $1 Billion Natural Catastrophe Loss: Aon Benfield Report
Dec 11 2017 // Typhoon Damrey made landfall in Vietnam during November as a Category 2 strength storm, bringing estimated economic damages of VND22.1 trillion (US$1.0 billion) – a rare billion-dollar event for the country, according to...
Arkansas Farmers Get $466M in Payments for Crop Losses in 2016
Dec 11 2017 // The U.S. Department of Agriculture says Arkansas farmers received $466 million in federal “safety net” payments this year for their crop losses in 2016, third highest in the nation. The Arkansas...
Insured Losses for Germany-Austria’s Storm Herwart Estimated at $337.3M: PERILS
Dec 11 2017 // The initial insured property loss estimate for Extratropical Cyclone Herwart, which hit Austria and Germany on Oct. 29, 2017, is €252 million ($337.3 million), according to PERILS, the independent Zurich-based...
It’ll Take Time for P/C Insurers’ Profits to Rebound After 2017 Storms, Wildfires: Fitch
Dec 11 2017 // U.S. property/casualty insurers will rebound in 2018 from the late-2017 onslaught of hurricanes and wildfires, but it will take a while to return to “significant underwriting profits,” Fitch Ratings predicted...
AIR Worldwide Updates Hurricane Maria Loss Estimate
Dec 7 2017 // Catastrophe modeling firm AIR Worldwide has updated its loss estimates for Hurricane Maria, reporting that insured losses in the Caribbean will be between $27 billion and $48 billion. Losses from Maria in Puerto Rico alone...
Technology, Regulation Prove Double-Edged Swords in Product Recall Risk
Dec 6 2017 // Exploding Samsung phones, error-prone Takata airbags, faulty GM vehicle ignition switches, failing Johnson & Johnson hip implants — multi-billion dollar product recalls have become more common over the past...
What do Cupcakes, BBQ and Ethnic Fusion Have In Common?
Dec 4 2017 // They top the list of trending food trucks…and food trucks, in general, are definitely trending. With over 4,000 food trucks on the road today and an annual growth of 8% reported by IBISWorld, the trend is expected to...
How Republicans’ Senate, House Tax Bills Differ
Dec 4 2017 // Expiring tax cuts, business perks and health care politics loom over House and Senate Republicans as they face the daunting task of hammering out the differences between their competing bills to rewrite the U.S. tax...
Program Business Sector Revenue Jumps 11.7% from 2014 to 2016: TMPAA
Dec 4 2017 // The financial performance of commercial property/casualty insurance program administrators continued to outpace the performance of the overall property/casualty insurance markets, according to a recent study. Program...
California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says
Dec 4 2017 // No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds...
Victim Compensation for Emotional Suffering: How Much Is Right?
Dec 1 2017 // If a company sends one of its workers to a crime-ridden neighborhood to repair a leaking roof and the worker is held up by gunpoint, has his wallet stolen and is so terrified that he can’t return to work, how much...
Insurers’ Asbestos Payments in 2016 Topped $3 Billion
Nov 30 2017 // While U.S. asbestos-related incurred losses dropped in 2016, property/casualty insurers’ payments for asbestos claims grew 9 percent and hit $3.2 billion for the year, a new A.M. Best report concludes. The $3.2...
Chubb Expects $320 Million in Q4 Catastrophe Losses Including California Wildfires
Nov 30 2017 // Chubb Limited reported a preliminary loss estimate for the fourth quarter from natural catastrophes, including the California wildfires, of approximately $320 million pre-tax, or $249 million after tax. Chubb said its...
State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy
Nov 28 2017 // Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31,...
UK, Ireland’s Storm Ophelia to Cost Insurers an Estimated $70.1M: PERILS
Nov 27 2017 // Insurance losses for Storm Ophelia, which hit Ireland and the United Kingdom on Oct. 16-17, are estimated at €60 million (US$70.1 million), according to PERILS, the independent Zurich-based organization that provides...
Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters
Nov 22 2017 // 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...
Insurers Can Protect Ratings with Cautious Approach to Cyber Risk: Fitch
Nov 21 2017 // The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New...
California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says
Nov 20 2017 // No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds...
Reinsurance Sector’s Share of Hurricane, Quake Losses Is $20B-$25B: A.M. Best
Nov 20 2017 // Cumulative net catastrophe losses for reinsurance companies from Hurricanes Harvey, Irma and Maria, along with the Mexico earthquakes, are between $20 billion-$25 billion out of an overall industry loss of $90 billion,...
New Judicial Appointments Could Help Curb Shareholder Suits, Reduce D&O Losses
Nov 20 2017 // Directors and officers (D&O) insurance has faced major losses in recent years, due in part, to what some call a significant increase in shareholder securities class action lawsuits. But a slew of new judicial...
