Latest Profit Loss Headlines
All the headlines from our Profit Loss Topic Page, ordered by recency.
RMS Estimates Hurricane Maria’s Insured Losses Will Range Between $15B and $30B
Sep 29 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, estimated that the insured loss from Hurricane Maria will be between US$15 billion and US$30 billion. This estimate represents the insured losses associated...
Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes
Sep 29 2017 // Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its...
Georgia Insured Losses from Hurricane Irma Exceed $300M, And Growing
Sep 29 2017 // The Georgia Office of the Commissioner of Insurance estimates that insured losses in the state from Hurricane Irma have now exceeded $300 million, with more than 50,000 property related insurance claims...
Chubb: Hurricanes Harvey, Irma Losses to Top $1 Billion
Sep 28 2017 // Chubb Ltd. has estimated it will see more than $1 billion in third-quarter losses stemming from hurricanes Harvey and Irma, a substantial hit for the insurer and reinsurer. The loss estimate is preliminary. Further details...
Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Despite Rise in Catastrophe Losses, Home Insurance Loss Costs Declined in Recent Years
Sep 28 2017 // In 2016, Colorado and Texas homeowners suffered the greatest percentage of catastrophic losses due to extreme weather and other perils, according to a study of home insurance trends. The six-year LexisNexis Risk Solutions...
PERILS Raises Insured Loss Estimate for Cyclone Debbie to A$1.7B (US$1.34B)
Sep 28 2017 // The property insurance market’s loss for tropical cyclone Debbie has risen to A$1.7 billion (US$1.34 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe...
Update: Lloyd’s of London Reports 16% Drop in H1 2017 Profit to $1.6B
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Citizens Estimates $1.23B In Insured Losses from Hurricane Irma
Sep 28 2017 // Hurricane Irma will generate up to 70,000 claims and approximately $1.23 billion of insured losses to Citizens Property Insurance Corporation over the next 18 to 24 months, according to initial estimates presented to...
Mexico Calculates Economic Cost of Quake; Insurance Covers Small Part of Losses
Sep 27 2017 // Mexican government officials are still tallying up the economic losses of the magnitude 7.1 earthquake that caused widespread damage in the capital, but for the manager of a downtown restaurant it is already all too...
Insured Losses in Caribbean from Hurricane Maria Estimated at $40B-$85B: AIR
Sep 26 2017 // Industry insured losses for Hurricane Maria in the Caribbean will be between US$40 billion and US$85 billion, according to catastrophe modeling firm AIR Worldwide. Puerto Rico alone accounts for more than 85 percent of the...
Natural Disasters Begin to Hit Profits of Global Reinsurers
Sep 22 2017 // A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global...
Insurance Industry Tallies Irma’s Mounting Losses in Florida
Sep 22 2017 // With two Florida landfalls in the same day, Hurricane Irma‘s destructive wind and flood damage could cost up to $65 billion for both insured and uninsured losses, according to a recent estimate by...
Talanx Warns 2017 Profits Could Be Hit by Hannover Re’s Catastrophe Claims
Sep 21 2017 // German insurer Talanx warned it may miss its profit target for 2017 as its reinsurer, Hannover Re, is being hit by major claims from a series of hurricanes and an earthquake in Mexico. Reinsurers face big losses from...
Fitch: Hurricane Irma Losses Substantial, But Won’t Weaken Insurer Ratings
Sep 21 2017 // Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on various loss estimates, according to a report from Fitch Ratings. The ratings agency said these losses will...
FedEx Goes Cyber Insurance Shopping After Profit Takes Hit from Attack
Sep 20 2017 // Package delivery company FedEx Corp. said on Tuesday a June cyber attack on its Dutch unit slashed $300 million from its quarterly profit, and the company lowered its full-year earnings forecast. The company said the cyber...
Expert’s Advice to Florida Agents: Report Claims That Fall Below Hurricane Deductible
Sep 19 2017 // With many agents currently assisting clients in determining if they have claims and the insurance claim filing process in the aftermath of Hurricane Irma, one most common question received by the Florida Association of...
Florida’s Insured Losses From Irma Reach Nearly $2B and Growing
Sep 19 2017 // Florida policyholders so far have filed nearly $2 billion in claims to insurers for damage from Hurricane Irma, the state’s insurance regulator said on Monday. The estimate of insured losses is based on preliminary...
Firms Hit by Harvey, Irma Hope Business Interruption Coverage Pays Off
Sep 18 2017 // Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers. Exclusions in the fine print of policies, along...
NCCI Files 10% Reduction in Workers’ Comp Loss Costs for West Virginia
Sep 18 2017 // West Virginia employers will see a projected $21 million reduction in workers’ compensation premiums in the coming year, according to a recent statement from Gov. Jim Justice. The National Council on Compensation...
