Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
NCCI Files 12% Decrease for Tennessee Workers’ Comp Loss Costs
Sep 18 2017 // Workers’ compensation rates in Tennessee are going down again next year. The Tennessee Department of Commerce and Insurance (TDCI) announced in August that the National Council on Compensation Insurance (NCCI) is...
Why the Federal Flood Program Is Sinking Deeper into Debt: CBO Report
Sep 18 2017 // The federal flood insurance program is on a course to continue falling deeper in debt, even when there is no catastrophic storm like Katrina or Harvey. The National Flood Insurance Program (NFIP) is currently on a path...
Hurricane Costs Become Talk of Monte Carlo’s Reinsurance Rendezvous
Sep 18 2017 // As Hurricane Irma battered Florida, the cream of the insurance world — gathered in Monte Carlo — was assessing the costs of the storm for the global industry. The takeaway so far: Irma and its predecessor,...
ICT Pegs Hurricane Harvey Insured Losses at $19B
Sep 15 2017 // The Insurance Council of Texas (ICT) has placed the insured losses from Hurricane Harvey at $19 billion. That number includes an estimated $11 billion in flood losses insured by the National Flood Insurance...
Workers’ Comp Loss Costs to Fall 16.3% in Oklahoma Next Year
Sep 15 2017 // Workers’ compensation loss costs for 2018 will decrease by 16.3 percent in Oklahoma according to a filing by the National Council on Compensation Insurance (NCCI), the Oklahoma Workers’ Compensation Commission...
Harvey and Irma Jeopardize 2017 Earnings, Says Munich Re
Sep 14 2017 // Munich Re, the world’s largest reinsurer, said storms led by Hurricanes Harvey and Irma will probably wipe out third-quarter profit and threaten the company’s ability to meet its full-year earnings...
Fitch Expects Most Insurers, Reinsurers to Handle Losses from Both Harvey, Irma
Sep 14 2017 // Fitch Ratings reported that based on its initial assessments, most U.S. insurance companies and global reinsurers that it rates are not expected to be downgraded as a result of the combined effects of Hurricanes Irma and...
Travelers Insurance Expects Hurricane Harvey Losses Between $375M-$750M
Sep 12 2017 // The Travelers Companies Inc. estimates that its catastrophe losses relating to Hurricane Harvey, including estimated recoveries from reinsurance, will be in the range of $375 million to $750 million pre-tax ($245 million...
Irma Analysis: Insurer Financial Stress Unlikely If Early Loss Estimates Hold
Sep 11 2017 // Before Hurricane Irma made landfall in south Florida on Sunday morning, analysts were assessing the potential damage to property/casualty insurer and reinsurance balance sheets and earnings. On Friday, Fitch Ratings noted...
Hurricane Costs Become Talk of Monte Carlo’s Reinsurance Rendez-Vous
Sep 10 2017 // As Hurricane Irma battered Florida on Sunday, the cream of the insurance world — gathered under the Mediterranean sun in Monte Carlo — was assessing the costs of the storm for the global industry. The takeaway...
NCCI Files 12% Decrease for Tennessee Workers’ Comp Loss Costs
Sep 8 2017 // Workers’ compensation rates in Tennessee are going down again next year. The Tennessee Department of Commerce and Insurance (TDCI) announced this week that the National Council on Compensation Insurance (NCCI) is...
AIR Worldwide Estimates $65B – $75B in Texas Property Damage from Harvey Flooding
Sep 7 2017 // Boston-based catastrophe modeling firm AIR Worldwide has estimated property losses from the flooding in Texas caused by Hurricane Harvey’s record-breaking rainfall will be between $65 billion and $75 billion. These...
Here’s What a Category 5 Hurricane Could Do to Florida
Sep 7 2017 // Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, but the risk of such a storm has not gone away or even declined. In fact, the state’s risk of...
Hurricane Harvey Puts Pressure on Regional Insurers in Texas, Says A.M. Best
Sep 5 2017 // Losses anticipated from Hurricane Harvey are unlikely to exceed the top reinsurance limits of insurers writing business in Texas, according to new Best’s Special Report, titled, “Texas Insurers Expected to...
AGCS Expands Terrorism, Political Violence Coverage for U.S. Businesses
Sep 5 2017 // Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has launched coverage for U.S. businesses when faced with loss related to terrorism and political violence both at home and...
Insured Loss Estimates from Harvey Will Take Time
Sep 4 2017 // Flood losses from Hurricane Harvey, which made landfall as a Category 4 storm late on Aug. 25 near Rockport, Texas, are expected to vastly outnumber those from wind but that doesn’t mean property losses will be...
Flood Insurance Losses from Harvey Could Match Katrina’s, I.I.I. Says
Sep 4 2017 // Flood damage in Texas from Hurricane Harvey may equal that from 2005’s Hurricane Katrina, the costliest natural disaster in U.S. history, according to an insurance research group. As heavy rain pounded Houston and...
Breaking the Silence: Cyber Physical Cat Models Emerging
Sep 4 2017 // A frightened truck driver dodging a barrage of bullets fired from the assault rifles of a drug-smuggling criminal gang doesn’t seem like the obvious description of the final stages of a cyber attack. But the...
Harvey Hits Home
Sep 4 2017 // As a native Texan, my heart hurts for the thousands of people and business owners affected by Hurricane Harvey. Family, friends and business associates in the Lonestar State will be dealing with the aftermath for years to...
Tallying Massive Costs of Harvey to Victims, Insurers, Taxpayers and Economy
Aug 31 2017 // Hurricane Harvey’s costs to the victims in its path, to U.S. taxpayers, to insurers and to the economy were still being calculated on Wednesday, with few firm estimates available yet. Texas could need more than $125...
