Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
States Suing Purdue Pharma Claim Sacklers Drew $13 Billion Profit from OxyContin
Oct 7 2019 // OxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company’s controlling Sackler family, according to U.S. states opposing efforts to halt lawsuits alleging the company and its owners helped...
Catastrophe Modelers: U.S. Insured Losses from Dorian Could Reach $1.5B in U.S.
Oct 7 2019 // Insured loss estimates for Hurricane Dorian will range from $500 million to $1.5 billion, according to catastrophe modeling firms Karen Clark & Co. and RMS. According to KCC, Dorian reached peak intensity of 185 mph...
Insured Losses from Typhoon Faxai Estimated at US$5 Billion to US$9 Billion: RMS
Sep 30 2019 // RMS, the Newark, Calif.-based risk modeling and analytics firm, has estimated that the insured loss from Typhoon Faxai will be between $5.0 and $9.0 billion (¥ 500 to ¥950 billion). This estimate includes property damage...
U.S. Private Flood Insurance: The Journey to Build a New Market
Sep 27 2019 // Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood...
Cyber Insurer Coalition Expands Coverage to Businesses With Up To $1B in Revenue
Sep 27 2019 // Coalition, an cyber insurance company focused on small- and midsize-businesses, has expanded its cyber and technology errors and omissions coverage — previously only available to companies with less than $250 million in...
Report: Louisiana Sees 13 Consecutive Quarters of Personal Income Growth
Sep 24 2019 // Data released by the Bureau of Economic Analysis (BEA) shows that Louisiana personal income grew by $2.67 billion to $224.43 billion between 2019 Q1 and 2019 Q2, a new series record. Louisiana personal income has grown for...
Workers’ Comp Loss Costs to Drop 5% in Oklahoma Next Year
Sep 24 2019 // A 5.1% percent decrease in workers’ compensation insurance loss costs in Oklahoma for 2020 has been approved by Insurance Commissioner Glen Mulready, the state insurance department announced. Loss costs are the...
Staying Profitable in an Increasingly Fragmented World: SCOR Global P&C CEO
Sep 23 2019 // There are several things that keep SCOR’s Jean-Paul Conoscente awake at night. Climate change is one of them; cyber risk is another. Only time will tell whether these risks are actually insurable, cautions...
Re/insurers Rethink Climate Change Risks as Losses Grow from Wildfires, Floods, Hail
Sep 20 2019 // By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burnt both his tractor and the shipping container where he kept some tools. His insurer...
Lloyd’s Returns to Profit in 1st Half After 2 Full Years of Losses
Sep 18 2019 // Lloyd’s of London, the world’s biggest insurance market, returned to profit in the first half after two full-year losses. The more than 300-year-old corporation made a profit before tax of 2.3 billion pounds...
Chubb Personal Auto Service Protects Insured Info for Total Loss Vehicles
Sep 18 2019 // Chubb has launched a new service designed to help personal auto clients remove sensitive electronic information from their vehicles in the event of an insured total loss. “While hands-free GPS and mobile connectivity...
Catastrophe Modelers: U.S. Insured Losses from Dorian Could Reach $1.5B in U.S.
Sep 17 2019 // Catastrophe modeling firms Karen Clark & Co. and RMS have released insured loss estimates for Hurricane Dorian, ranging from $500 million to $1.5 billion. According to KCC, Dorian reached peak intensity of 185 mph...
Insured Losses for Typhoon Faxai Estimated at US$3B-US$7B: AIR Worldwide
Sep 16 2019 // Industry insured losses from Typhoon Faxai, which made landfall in Japan on Sept. 9, will be between 340 billion Japanese yen (US$3 billion) and 740 billion yen (USD 7 billion), estimated Boston-based catastrophe risk...
When Billion Dollar Cyber Losses Strike: Guy Carpenter/CyberCube
Sep 16 2019 // As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the...
California Lawsuit Over Profits From Fox Series “Bones” is Settled
Sep 13 2019 // A lawsuit over profits between the producers and stars of the show “Bones” and 21st Century Fox has been settled. The two sides in the long-running lawsuit over the hit Fox TV show filed documents saying the...
Insurance Linked Securities in 2019: Asking the Right Questions
Sep 11 2019 // The record losses we saw in 2017 and 2018 were felt heavily by the insurance industry, and there is no denying that two years of losses have affected investor sentiment. While such a statement is hardly surprising, it is...
Loss Creep Spells End to Soft Reinsurance Market: Guy Carpenter
Sep 10 2019 // Extended development from North American hurricane losses and losses from non-peak perils like California wildfires have finally jolted reinsurers out of a soft reinsurance market, according to a report from reinsurance...
Hurricane Dorian Insured Losses in Caribbean from Wind, Storm-Surge Could Hit $6.5B
Sep 10 2019 // Insured losses in the Caribbean from Hurricane Dorian is estimated at $3.5 billion to $6.5 billion, according to RMS, the risk modeling and analytics firm. This estimate represents insured losses associated with wind and...
Billion Dollar Loss Scenarios Point to Need to Better Understand Cyber Events
Sep 9 2019 // As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the...
Aon Launches Real-Time Loss Forecasting for U.S. Hurricanes, European Windstorms
Sep 9 2019 // Aon plc has launched Automated Event Response (AER), designed to enable insurers to view real-time portfolio risks from two of the costliest perils: U.S. hurricane and European windstorm. Insurers, which aim to indemnify...
