All the headlines from our Profit Loss Topic Page, ordered by recency.
Jan 10 2025 // The wildfires sweeping through Los Angeles are unlikely to trigger significant losses for catastrophe bonds designed to capture such risks.Roughly 12% of the $50 billion cat-bond market is currently exposed to wildfire...
Jan 9 2025 // Editor’s note: This story has been updated with new AccuWeather total loss estimates.With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of...
Jan 9 2025 // Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re.Overall economic...
Jan 8 2025 // Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what industry watchers say...
Jan 8 2025 // A class-action lawsuit filed Monday alleges the Omaha Housing Authority ignored and failed to eliminate bed bug infestations at high-rise apartments for low-income residents.The new lawsuit, brought by a pioneering firm in...
Jan 7 2025 // Boosting growth and profitability is a goal for all U.S. insurance agents and brokers, but until recently that has been easier to assert than to achieve consistently. Booking organic growth is difficult, even for firms...
Dec 30 2024 // Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal...
Dec 26 2024 // Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday.The hacking amount exceeded $1 billion for the...
Dec 23 2024 // RiverStone International, the London-based provider of legacy solutions, announced it has signed an agreement with the French branch of Zurich Insurance Europe and Zurich Insurance Co. to provide a loss portfolio transfer...
Dec 23 2024 // Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday.The hacking amount exceeded $1 billion for the...
Dec 20 2024 // A computer scientist who falsely claims to be the inventor of Bitcoin was handed a suspended prison termafter being found in contemptof court by a London judge after a stinging lawsuit loss.The Cryptocurrency Open Patent...
Dec 19 2024 // The European Central Bank and the region’s insurance authority proposed a two-pronged approach to increase insurance coverage for floods, storms and other weather disasters that are increasingly being fueled by...
Dec 16 2024 // German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore’s Income Insurance for about $1.63 billion, the company said in a statement on Monday.Reuters reported on Dec. 13 that the insurer...
Dec 16 2024 // Courts across the country have overwhelmingly ruled in favor of insurance carriers in claims disputes following the government-ordered closures of businesses during the COVID-19 pandemic. The North Carolina Supreme Court...
Dec 13 2024 // While publicity about personal auto insurer initiatives has focused chiefly on requested rate increases, there’s more to the picture regarding auto insurers’ efforts to improve underwriting results after two...
Dec 13 2024 // Swiss Re is targeting a net income of more than US$4.4 billion for 2025 and aims to grow the ordinary dividend per share by 7% or more per year over the next three years while maintaining its multi-year IFRS ROE target of...
Dec 13 2024 // Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.”It also expects good underwriting...
Dec 13 2024 // The District of Columbia has sued Amazon, alleging the company secretly stopped providing its fastest delivery service to residents of two predominantly Black neighborhoods while still charging millions of dollars for a...
Dec 12 2024 // New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans.That measure is one of several options...
Dec 12 2024 // Virginia has approved a 12.0% loss cost decrease in the workers’ compensation voluntary market along with rate decreases in the assigned risk market, effective April 1, 2025.The State Corporation Commission (SCC)...