All the headlines from our Profit Loss Topic Page, ordered by recency.
Sep 27 2024 // Despite challenging conditions, 75% of independent insurance agencies saw revenue gains from 2022 to 2023, according to the 2024 Agency Universe Study. That number is significantly higher than between 2020 and 2021, during...
Sep 27 2024 // Cybersecurity claims reported in recent years vary sharply, with larger claims reaching $500 million of data loss and smaller claims as low $1,000.NetDilligence released its annual report, which analyzes 10,464 claims from...
Sep 26 2024 // State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis.The outlier result came even as...
Sep 18 2024 // U.S. private market insured losses from Hurricane Francine are estimated to not exceed $2 billion, Moody’s RMS Event Response team said.Losses to the National Flood Insurance Program from the hurricane are estimated...
Sep 17 2024 // The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more damage.Credit rating agency...
Sep 16 2024 // Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage.Privately insured loss from Hurricane Francine...
Sep 16 2024 // No single factor led a fire in the seaside Hawaiian town of Lahaina last year to rage out of control and kill 102 people, according to a state report that assesses the government’s response to the disaster but not...
Sep 16 2024 // The U.S. property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report.“After years of consistent losses,...
Sep 13 2024 // A preliminary estimate shows total damage and economic loss from Hurricane Francine in the U.S. is expected to be $9 billion.The storm effects are continuing to be felt, and some areas have yet to report complete...
Sep 11 2024 // A month after Hurricane Debby made landfall in northern Florida, the number of property insurance claims has reached almost 20,000, and total estimated insured losses are more than $121.5 million, the Florida Office of...
Sep 9 2024 // California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire.The California Department of Insurance sent a bulletin to...
Sep 6 2024 // The owners of London’s ExCel conference center on Friday won an appeal brought by insurers, including Allianz, over pandemic-related losses, which its lawyers said could help thousands of other policyholders.London...
Sep 6 2024 // New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition.The report laid out dozens of...
Sep 6 2024 // The New Hampshire Insurance Department (NHID) reports that it has approved a workers’ compensation rate proposal that will reduce voluntary loss costs by 5.6% on average.The new lower rates will apply to voluntary...
Sep 5 2024 // New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial...
Sep 5 2024 // The Lloyd’s insurance and reinsurance market reported overall profit before tax of £4.9 billion (US$6.4 billion), a 25.6% increase from the £3.9 billion (US$5.1 billion) reported during H1 2023.The combined ratio,...
Sep 5 2024 // As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time.In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend continues...
Sep 5 2024 // The pilot of a plane that crashed in northeast Wyoming in July, killing seven people, declared an emergency and loss of the autopilot shortly before the incident that claimed the lives of three members of the Gospel Music...
Sep 4 2024 // Urban expansion, property exposure and climate change could fuel a 40% increase in annual natural-catastrophe losses for the global insurance industry, according to a new report.The annual loss could rise to $151 billion...
Sep 3 2024 // Fitch Ratings published midyear underwriting results for 19 non-life reinsurers, finding that the group’s average first-half 2024 combined ratio was 84.2, and forecasting continued profits for the rest of 2024 and...