All the headlines from our Profit Loss Topic Page, ordered by recency.
Nov 20 2020 // The overturning of a liftboat servicing an oil platform in the Gulf of Mexico off the Louisiana coast was the result of an inadequate preload procedure, according to federal report.The National Transportation Safety Board...
Nov 19 2020 // Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday.Carnegie-Brown told...
Nov 16 2020 // Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to...
Nov 16 2020 // Catastrophe risk modeler RMS has estimated that insured losses from Hurricane Zeta could rise to as high as $5 billion in the U.S.That figure is slightly higher than estimates announced earlier by catastrophe modelers AIR...
Nov 13 2020 // Lemonade plans to start selling term life insurance in the next 90 days, adding to its current rental, homeowners and pet insurance offerings, the company said in an earnings report this week.During an investor conference...
Nov 13 2020 // UnipolSai, Italy’s second-largest insurer, confirmed its full-year targets on Friday after a 37.7% rise in nine-month earnings, despite an uncertain economic outlook caused by the resurgence of the COVID-19...
Nov 12 2020 // A trial will begin Monday in what is thought to be the first lawsuit to be filed against an insurer for denying coverage for business-interruption losses caused by COVID-19 shutdown orders.Judge Paulette R. Irons ruled...
Nov 12 2020 // While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may...
Nov 9 2020 // Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume...
Nov 6 2020 // Liberty Mutual Holding Co. Inc. has reported a 46% increase in net income during the third quarter, despite elevated catastrophe losses.The company reported Q3 net income of $397 million, compared with $272 million during...
Nov 6 2020 // American International Group Inc reported a slump in third-quarter profit on Thursday, hurt by losses related to storms, wildfires and the COVID-19 pandemic.AIG, one of the largest U.S. insurers, posted an underwriting...
Nov 6 2020 // German insurer Allianz on Friday declined to provide a forecast for 2020 given uncertainty around the COVID-19 pandemic, despite delivering an unexpected 6% rise in third-quarter net profit.Allianz, like other insurers,...
Nov 5 2020 // Catastrophe risk modeler RMS has estimated that insured on losses from Hurricane Zeta could rise to as high as $5 billion in the U.S.That figure is slightly higher than estimates announced by catastrophe modelers AIR...
Nov 5 2020 // The Allstate Corp. reported a 26.7% increase in its third quarter net income, primarily due to higher auto insurance underwriting income and net realized capital gains.Allstate’s third quarter net income able to...
Nov 4 2020 // Kemper Corp.’s Q3 net income dipped slightly, though that decline would have been worse if not for after-tax gains in assessments and investments.The company reported $122.3 million in net income during the 2020...
Nov 3 2020 // Starr Marine, a division of Starr Insurance Companies, has introduced a Terminal Management System (TMS) Assessment Program, designed to help Starr clients identify and reduce the risks unique to marine terminal operations...
Nov 3 2020 // Insured losses from Hurricane Zeta — the fifth named storm to make landfall in Louisiana and the third hurricane to hit the state in the span of two months — will likely come in somewhere between $1.5 billion and $4.4...
Nov 3 2020 // CNA Financial Corp. doubled its 2020 Q3 net income, thanks in part to higher investment returns and rate hikes in the P/C insurance division that increased more than 12 percent on average. Net catastrophe losses soared,...
Nov 2 2020 // Despite the economic challenges from the coronavirus pandemic, the workers’ compensation insurance market is likely to report strong profitability in 2020 thanks to savings from lower claims frequency due that are...
Nov 2 2020 // A judge in Durham County, N.C., has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit.Superior Court Judge Orlando F. Hudson Jr. ruled...