All the headlines from our Profit Loss Topic Page, ordered by recency.
Jun 28 2021 // Hiscox has agreed an arbitration settlement with a group of policyholders over business interruption losses due to the government’s COVID-19 lockdown last year, the Lloyd’s of London insurer said on...
Jun 22 2021 // Europe’s insurance industry is emerging from the coronavirus crisis with a stronger appetite for mergers and acquisitions (M&A), along with expectations for strong earnings growth in 2021, according to...
Jun 21 2021 // The Native American tribe that owns Connecticut’s Mohegan Sun casino is suing its insurance carrier over what it says was the denial of claims for millions of dollars in losses caused by the COVID-19 pandemic.The Day...
Jun 21 2021 // With favorable results driven by recent reductions in claims frequency and further recognition of material reserve redundancies, workers’ compensation underwriting performance is expected to remain strong in 2021,...
Jun 21 2021 // The U.S. property/casualty industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM Best. Increased...
Jun 17 2021 // A French Michelin three-star chef is asking Allianz SE for 1.6 million euros ($1.9 million) in insurance claims for losses suffered by his restaurants during the country’s lockdowns, a person familiar with the matter...
Jun 16 2021 // Michigan insurance regulators are reminding property/casualty insurers that relying on “zero-dollar claim” in their insureds’ loss history is not allowed.In Bulletin 2021-27-INS, issued by Michigan...
Jun 15 2021 // With favorable results driven by recent reductions in claims frequency and further recognition of material reserve redundancies, workers’ compensation underwriting performance is expected to remain strong in 2021,...
Jun 11 2021 // Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday.While cedents...
Jun 10 2021 // RMS remains first and only risk modeling company to offer hurricane models certified by the FCHPLM on both on-premises software and a cloud platform simultaneouslyNewark, Calif. – June 10, 2021 – Today, RMS, the...
Jun 4 2021 // The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results analyzed by AM...
Jun 3 2021 // Most of the world’s largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss, but a group of five U.S. insurers are some of those that rank the lowest, according...
May 28 2021 // The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings.This net profit...
May 27 2021 // U.S. insurers offering cyber coverage have been implementing significant pricing and underwriting actions in 2021 in response to a spike in cyber claims, according to Fitch Ratings.Fitch predicts that immediate improvement...
May 27 2021 // An insurer could have to pay for a Pennsylvania tavern’s business interruption losses after it shut down due to the COVID-19 pandemic because of a two-letter word in its policy.The Pennsylvania Court of Common Pleas...
May 20 2021 // When Hurricane Sandy barreled over New York City and the East Coast in 2012, it caused $63 billion in damage, making it one of the costliest storms in U.S. history. Now, scientists have estimated that climate change pushed...
May 17 2021 // U.S. insurers suffered record-breaking winter storm losses during the first quarter of 2021 while also grappling with several high-profile cyberattacks, according to a recent report released by Aon.Maybe claims departments...
May 10 2021 // The National Highway Traffic Safety Administration (NHTSA) said Monday it was opening a formal safety probe into more than 1.1 million Honda Accord vehicles over sudden loss of steering control reports.The agency said the...
May 6 2021 // Allstate reported an overall $1.4 billion net loss in the first quarter due to the sales of its life and annuity businesses, compared to net income of $513 million in the first quarter of 2020.However, net income adjusted...
May 5 2021 // We thank friend of the Academy, Christopher J. Boggs for this guest post.Courts are being asked to decide whether the phrase, “direct physical loss of or damage to” property at the premises unambiguously...