Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
Insured Losses from China’s Typhoon Mangkhut Estimated at US$1B-US$2B: AIR
Sep 26 2018 // Industry insured losses from Typhoon Mangkhut in mainland China, Hong Kong, and Macau will be between US$1 billion and US$2 billion, according to catastrophe risk modeling firm AIR Worldwide. After making landfall in the...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Sep 25 2018 // This enhanced satellite image made available by NOAA shows Hurricane Florence off the eastern coast of the United States on Wednesday, Sept. 12, 2018 at 5:52 p.m. EDT. (NOAA via AP) Insurance industry losses from Hurricane...
Geopolitical Tensions Cause Rise in Political Risk Losses: Willis Towers Watson Report
Sep 24 2018 // Increasing geopolitical concerns are causing a rise in political risk exposures with 55 percent of global organizations with revenues greater than $1 billion experiencing at least one political risk loss exceeding a value...
Gas Company Will Cover Losses from Deadly Massachusetts Explosions
Sep 24 2018 // Authorities say Columbia Gas has agreed to compensate its customers for all losses related to a series of gas explosions and fires in Massachusetts’ Merrimack Valley. Town officials in Andover announced Saturday that...
$1.5M Yacht Likely a Total Loss After Connecticut Barge Strike
Sep 21 2018 // Maritime officials say a 50-foot, custom-built yacht worth $1.5 million is likely a total loss after it was struck by a barge laden with sand and gravel in a Connecticut harbor. Capt. Eric Knott, Stamford’s...
Allstate Reports $186 Million in Hail, Other Catastrophe Losses in August
Sep 21 2018 // The Allstate Corporation said estimated catastrophe losses for the month of August were $186 million, pre-tax ($147 million after-tax). Catastrophe losses occurring in August comprised 16 events at an estimated cost of...
Lloyd’s Returns to Pre-Tax Profits, Reporting £600M ($793.1M) During 1st Half
Sep 21 2018 // Lloyd’s reported a return to profits during the first half, in a welcome recovery after its big losses of 2017. Pre-tax profits during the half were £600 million ($793.1 million), compared to £1.2 billion ($1.6...
Willis Towers Watson Launches Property Loss Modeling Platform
Sep 20 2018 // Willis Towers Watson has launched a new technology platform to help organizations analyze potential property losses across a global portfolio with the aim of optimizing risk transfer and insurance strategies. The new...
Karen Clark & Co. Estimates $2.5B in Insured Losses from Hurricane Florence
Sep 18 2018 // Insured losses from Hurricane Florence will reach $2.5 billion, according to an estimate from Karen Clark & Co. The estimate of insured losses to residential, commercial, and industrial properties and autos comes from...
ILS Market Could Bear 20% of Hurricanes Harvey, Irma, Marie Loss: A.M. Best
Sep 17 2018 // The insurance-linked securities (ILS) market potentially could bear up 20 percent of the insured losses generated by Hurricanes Harvey, Irma and Marie, according to an A.M. Best report. These three hurricanes during a...
RMS Estimates Insured Losses from Typhoon Jebi Could Reach $5.5 Billion
Sep 14 2018 // The insured loss for Japan from Typhoon Jebi, which made landfall in Japan on Sept. 4, will be between USD$3 billion and $5.5billion (¥340 to ¥620billion), according to the global risk modeling firm RMS. Approximately 80...
Wind, Storm Surge Losses from Florence Could Reach $5B; Top 10 Insurers Affected in Carolinas
Sep 14 2018 // This enhanced satellite image made available by NOAA shows Hurricane Florence off the eastern coast of the United States on Wednesday, Sept. 12, 2018 at 5:52 p.m. EDT. (NOAA via AP) Hurricane Florence was downgraded to a...
Pay Attention to the Hurricane Deductible
Sep 12 2018 // It’s hurricane season. I’ll wait for your shock to subside. If you live in a coastal state from Texas on the Western Gulf Coast to Virginia, you already knew it was hurricane season. I’m just reminding...
Verisk Company PCS Adds Global Cyber Industry Loss Index
Sep 11 2018 // Property Claim Services (PCS), a Verisk business, has enhanced its PCS Global Cyber service with coverage for cyber catastrophe events. The inclusion of events with multiple insureds spanning both affirmative and silent...
Basketball Star Garnett Sues Accountant Over Loss of $77M to Wealth Manager
Sep 10 2018 // Kevin Garnett is suing an accountant and his firm, alleging they helped a wealth manager steal $77 million from the retired Minnesota Timberwolves and Boston Celtics star. The federal malpractice lawsuit alleges...
ILS Market Could Bear 20% of Hurricanes Harvey, Irma, Marie Loss: A.M. Best
Sep 10 2018 // The insurance-linked securities (ILS) market potentially could bear up 20 percent of the insured losses generated by Hurricanes Harvey, Irma and Marie, according to an A.M. Best report. These three hurricanes during a...
Insured Losses from Typhoon Jebi Estimated at $2.3-$4.5 Billion: AIR
Sep 9 2018 // Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoo Jebi, which made landfall in Japan on Tuesday, Sept. 4, will be between $2.3 billion (JPY 257 billion) and $4.5 billion (JPY...
Judge Tosses Uber Investors’ Class Action Bid Over Stock Losses
Sep 4 2018 // Uber Technologies Inc. and its former Chief Executive Officer Travis Kalanick defeated a lawsuit claiming the company swept illicit business practices under the rug that cost investors billions of dollars. U.S. District...
Constructive Tips for Reducing Equipment Losses at Jobsites
Sep 3 2018 // If you live in a city or nearby one and see new construction projects popping up at a rapid rate, you’re not alone. Cities throughout the United States are experiencing a boom in construction. Optimism is soaring to...
A Tale of Two Floridas: Hurricane Irma’s Belated Impact on Reinsurers
Sep 3 2018 // Reinsurers expressed different views of loss developments related to Hurricane Irma, when executives reviewed the impact of the Florida event on second-quarter earnings reports last month. Everest Re was among those...
