All the headlines from our Profit Loss Topic Page, ordered by recency.
Mar 3 2022 // A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document.The...
Mar 2 2022 // Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social inflation on rising claims...
Mar 2 2022 // Pathpoint Inc. named Ralph Blust chief revenue officer and president.Blust oversees Pathpoint’s sales and underwriting operations teams. Blust has more than 35 years of insurance industry leadership. He was most...
Mar 2 2022 // Insured losses from February’s windstorms Dudley and Eunice will likely fall between 3.0 and 4.5 billion Euro (US$3.4 and US$5.1 billion), with Germany accounting for around 40% of the total loss, according to risk...
Mar 1 2022 // A number of big investors on Monday filed to end their lawsuits against Allianz after a settlement was reached over their losses in a multibillion-dollar trading debacle at the German asset manager’s funds arm.The...
Feb 28 2022 // Although Berkshire Hathaway’s biggest insurance operation GEICO reported a 63 percent drop in pretax underwriting income in 2021, overall the conglomerate’s insurance and reinsurance operations saw pretax...
Feb 28 2022 // An Ohio business says its insurance company must compensate it for financial losses suffered during a pandemic-related shutdown. The insurance company refused to pay, saying its policy didn’t cover such losses. The...
Feb 25 2022 // With unfavorable development and product mix changes propelling fourth-quarter and full-year loss 2021 ratios into the 90s—up 20 points over comparable 2020 periods—Lemonade guided shareholders that results will get...
Feb 25 2022 // Insured losses due to wind from Winter Storms Dudley/Ylenia and Eunice/Zeynep will range between €3 billion and €5 billion (US$2.2 billion-$5.6 billion), the majority of which are expected in Germany, UK, and the...
Feb 25 2022 // February 25, 2022 is the deadline for most Louisiana policyholders to file proof of loss for Hurricane Ida damage.Friday marks the 180th day after Ida made landfall in Louisiana as a Category 4 hurricane. Most residential...
Feb 24 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Feb 24 2022 // AXA reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis.The company, Europe’s second-biggest...
Feb 24 2022 // The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial...
Feb 23 2022 // After his house burned down in 2015, Rick Merechka turned in a sworn proof of loss statement telling his insurance company that the replacement value of his household goods was $607,640.But in December 2010, Merechka and...
Feb 23 2022 // German reinsurance group Munich Re on Wednesday forecast a 14% jump in profit this year as it reported a bounceback in 2021 from the coronavirus pandemic despite big claims from natural disasters.Marked by devastating...
Feb 22 2022 // This post is part of a series sponsored by Old Republic Surety.Do you want to build a book of surety business at your agency, but you’re not sure how to get started? Have you been selling surety bonds, but want to...
Feb 21 2022 // What happens when you put a self-directed team in the game against a well-coached team? If the talent is similar, then the well-coached team will win eight out of 10 times. But why is that?If the coach is doing their job,...
Feb 21 2022 // The two possessions that most concern insurers — homes and motor vehicles — happen to be the largest contributors to the historic 7.5% inflation rate.Perhaps that should be no surprise. “It’s the...
Feb 21 2022 // Insurance agency personnel on average made more money in 2021 but satisfaction with compensation overall declined despite higher salaries and total compensation.Satisfaction with compensation dropped slightly across the...
Feb 17 2022 // Climate change could result in the financial toll of flooding rising by more than a quarter in the U.S. by 2050, according to new research.The research, led by the University of Bristol and published in Nature Climate...