All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 14 2020 // W.R. Berkley Corp. cautioned that its 2020 second quarter pretax catastrophe losses will reach $145 million, with more than half of that coming from COVID-19 related costs.Out of that total, $85 million stems from COVID-19...
Jul 14 2020 // In a preliminary look, The Travelers Companies said it expects to report a net loss for the second quarter, results that will reflect losses from storms, civil unrest and its non-fixed income investment portfolio.It also...
Jul 13 2020 // California workers’ compensation private self-insured claim frequency was relatively stable in 2019 as the incidence of medical-only and lost-time claims registered only marginal declines after increasing in 2017 and...
Jul 13 2020 // As Allianz Global Corporate & Specialty SE (AGCS) executes its plan to regain profitability in the corporate and specialty insurance segment, it is adopting a more simplified regional organization in North America. The...
Jul 10 2020 // The May 2019 tornadoes that ravaged several parts of Missouri caused significant damage to both residential and commercial properties, and resulted in close to $190 million in insured losses, the state Department of...
Jul 9 2020 // Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses quickly—following through on an...
Jul 9 2020 // Analysts have rapidly lifted their earnings forecasts for a global litigation financier on expectations that the pandemic could spark more legal disputes.Forward consensus earnings estimates for Sydney-listed Omni...
Jul 8 2020 // How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already...
Jul 8 2020 // Commercial insurers are facing hefty claims from the coronavirus crisis but are also seeing a steep rise in premiums – tempting companies and industry veterans to raise capital, launch new businesses or expand into new...
Jul 8 2020 // The civil disturbance that started in Minneapolis after the killing by police of George Floyd spread to 20 other states, leading to an unprecedented property insurance catastrophe. The experience will likely impact policy...
Jul 7 2020 // Chubb’s disclosure of second quarter 2020 global net catastrophe losses underscores the damage COVID-19 is doing to some carriers’ bottom lines.The global property/casualty insurer estimated $1.8 billion in...
Jul 7 2020 // The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide...
Jul 6 2020 // The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
Jul 2 2020 // Allianz, which is facing headwinds from the coronavirus crisis, expects to be back on track in 2021 barring a second major outbreak or financial market correction, the German insurer’s chief executive said in an...
Jul 1 2020 // Hallmark Financial Services Inc. (HALL) has reported a loss of $34 million in its fourth quarter.The Fort Worth, Texas-based company said it had a loss of $1.87 per share. Losses, adjusted for investment gains, were $2.01...
Jun 30 2020 // The Workers’ Compensation Insurance Rating Bureau of California has released its report on workers’ comp losses and expenses for 2019.Findings in the WCIRB report, 2019 California Workers’ Compensation...
Jun 30 2020 // The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting...
Jun 24 2020 // Severe weather outbreaks across the United States, with a lot of hailstorm damage, resulted in another costly month for insurers as a significant proportion of the US$4 billion economic cost was covered by insurance,...
Jun 24 2020 // Fifteen U.S. minor league baseball teams on Tuesday sued several insurers for not paying out claims for business interruption losses after the cancellation of “much or all” of the league’s season as a...
Jun 23 2020 // Cyber losses among businesses have risen nearly six-fold during the past year, from a median cost of $10,000 per firm to $57,000, according to an international survey commissioned by insurer Hiscox.Total cyber losses among...