Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
When Dogs Bite: Dog-Related Losses Account for One-Third of Homeowners Liability Claims Costs
Apr 16 2018 // Dog bites and other dog-related injuries accounted for more than one third of all homeowners liability claim dollars paid out in 2017, costing almost $700 million. That’s according to the Insurance Information...
Everest Re Expects Q1 Catastrophe Losses of $100M on Rising California Wildfire Claims
Apr 12 2018 // Everest Re Group Ltd. estimates it will incur $100 million of catastrophe losses, net of reinsurance recoverables and reinstatement premiums, in the first quarter of 2018, largely arising from the California wildfires and...
Natural Disasters Cost Insurers a Record $144 Billion in 2017: Swiss Re’s sigma
Apr 10 2018 // Global insured losses from natural catastrophes were US$144 billion in 2017, the highest-ever recorded in a single year, according to the latest sigma study from the Swiss Re Institute. The biggest losses came from...
Iowa Riverboat Casino Settles Revenue-Sharing Lawsuit for $1.5M
Apr 9 2018 // The owners of a former Sioux City, Iowa, riverboat casino have agreed to pay $1.5 million to a nonprofit group that had filed a lawsuit over unpaid revenue-sharing funds. The Community Action Agency of Siouxland and the...
How Predictive Analytics Boost Commercial Insurance Profits, Smooth Cycles
Apr 5 2018 // The increasing use of predictive analytics among commercial lines insurers has helped improve their bottom lines and led to more balanced underwriting cycles, A.M. Best says in a report. “Underwriting cycles have...
Chubb $380M Q1 Cat Loss Estimate Includes California Wildfires, East Coast Storms
Apr 4 2018 // Chubb Limited released preliminary net loss estimates for the first quarter of 2018 attributable to natural catastrophes, including the California mudslides, of $380 million pre-tax, or $305 million after tax. Losses from...
Deductibles: Pest or Partner?
Apr 4 2018 // Stop me when you’ve heard this story before. A customer calls to report a claim. It’s a small business and they have a few delivery trucks running around their city. One of them was backing out of a...
Study Finds 36% of Forestry Workers with Noisy Jobs Suffer Hearing Loss
Apr 3 2018 // About 15 percent of noise-exposed workers in the agriculture, forestry, fishing and hunting (AFFH) sector experience hearing loss, according to a new NIOSH hearing loss study published in the American Journal of Industrial...
Insured Losses for Europe’s Storm Burglind/Eleanor Rise to €680M ($837.8M): PERILS
Apr 3 2018 // The estimate of insured losses from Europe’s windstorm Burglind, also known as Eleanor, have risen to €680 million (US$837.8 million), according to PERILS, the Zurich-based organization that provides industry-wide...
The Competitive Advantage: Best Practices – Just Kidding!
Apr 2 2018 // Almost 30 years ago, I sat in a large carrier meeting, in an upscale hotel meeting room. The company had brought 20 or so people together from their offices around the country in multiple divisions to discuss “The...
P/C Insurers Record $23.5B in Underwriting Loss in 2017
Apr 2 2018 // The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The...
Non-Catastrophe Losses, Natural Disasters Take Toll on Lloyd’s Market in 2017
Apr 2 2018 // The Lloyd’s market’s pre-tax loss of £2 billion (US$2.8 billion) in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued...
Final Loss Estimate for Australia’s Cyclone Debbie Is A$1.7B (US$1.3B): PERILS
Mar 28 2018 // The final property insurance loss estimate for Australia’s Tropical Cyclone Debbie is A$1.7 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Attritional Losses Take Their Toll at Lloyd’s, Along with 2017’s Natural Catastrophes
Mar 23 2018 // The Lloyd’s market’s pre-tax loss of £2 billion (US$2.8 billion) in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued...
How Bad Was P/C Insurers’ Underwriting Loss in 2017?
Mar 20 2018 // The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The...
XL Catlin Introduces Brexit Continuity Clause to Address Risk of Loss of EU Passporting
Mar 19 2018 // XL Catlin’s London-based insurance operation has introduced a Brexit contract continuity clause. The clause addresses the risk that contracts written by XL’s London-based entities prior to Brexit may become...
Buyers Aren’t Happy With Their Cyber Insurance: J.D. Power
Mar 19 2018 // On any given day, it is hard not to read an article or report on some type of cyber topic. Cyber insurance is one of the key concerns within the insurance industry today and possibly one of the most misunderstood. In late...
Private Flood Insurance Market Is Getting Bigger, More Competitive, Less Profitable
Mar 18 2018 // The U.S. market for privately written flood insurance grew by 51.2 percent last year, with state-level markets growing both more competitive and less profitable, according to 2017 statutory insurance filings compiled by...
Uber, Lyft and New York Loss Transfer
Mar 13 2018 // Ridesharing has officially arrived in New York, and confusion over New York no-fault insurance and PIP Loss Transfer has arrived with it. On June 29, 2017, the New York State Assembly approved and Governor Andrew Cuomo...
PERILS Revises Loss Estimate for Europe’s Windstorm Zeus to €272M ($335.1M)
Mar 6 2018 // The final estimate of insured property market losses for extratropical cyclone Zeus, which mainly hit France last year on March 6-7, have been revised to €272 million (US$335.1 million), according to PERILS, the...
