All the headlines from our Profit Loss Topic Page, ordered by recency.
Jul 15 2024 // The commercial auto insurance segment maintained its place as a weaker-performing U.S. property/casualty insurance product line in 2023. Despite successive periods of pricing and underwriting actions, commercial auto has...
Jul 12 2024 // MEMPHIS, Tenn. (AP) — A sitting Tennessee sheriff pleaded not guilty Wednesday to charges that he illegally profited from the work of jail inmates under his supervision and housed dozens of them in a home outside of the...
Jul 10 2024 // At the same time it is settling a New York class action about underpaying totaled loss claims for $48 million, Progressive Insurance, in a separate case, has agreed to an $18.3 million settlement over allegations that its...
Jul 9 2024 // Private self-insured claim volume in the California workers’ compensation system fell 9.5% in 2023, the biggest year-to-year decline in private self-insured claim frequency in more than 15 years. However,...
Jul 8 2024 // Investors in bonds intended to help Jamaica cover the costs of a natural catastrophe won’t be affected by the havoc wrought by Hurricane Beryl, even as the prime minister declares the entire Caribbean island a...
Jul 5 2024 // Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles.The $48 million represents approximately...
Jul 5 2024 // The cumulative cost of the seven heat events in California in the past decade amounted to $7.7 billion in losses, a new report shows.The analysis from California Insurance Commissioner Ricardo Lara’s office is the...
Jul 1 2024 // Total insurer combined losses and expenses incurred in 2023 were down, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and...
Jun 28 2024 // In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows.The S&P Global...
Jun 21 2024 // Recent flooding in south Florida caused insured losses in the hundreds of millions of dollars, from auto and homeowners claims, Aon and AM Best reported.The Florida Office of Insurance Regulation is also reminding insurers...
Jun 20 2024 // Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion.The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70%...
Jun 20 2024 // An annual report from Chubb has revealed a couple of troubling trends for many businesses—the frequency and severity of large losses are up and companies are underestimating the amount of liability coverage they...
Jun 18 2024 // Singapore authorities said Monday a dredger boat reported a sudden loss in engine and steering control that led it to hit a stationary cargo tanker, causing an oil spill that has blackened part of the city-island’s...
Jun 17 2024 // Progressive on Friday said severe storms mostly in Texas and the Midwest caused about $722 million in net catastrophe losses to the insurer.In its monthly announcement of financial results on Friday, the Mayfield Village,...
Jun 17 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report.The Best’s Special...
Jun 17 2024 // Petcare, food and candy company Mars Inc. has lost its bid to revive its claims against Factory Mutual Insurance Co. for business interruption losses it incurred during the coronavirus pandemic.The Fourth Circuit Court of...
Jun 14 2024 // Singapore’s Income Insurance Ltd is in discussion with Allianz regarding a transaction relating to its shares in Income Insurance, it said in a statement on Friday.The company added in the statement that there is no...
Jun 14 2024 // Insured losses from floods that hit Central Europe between Thursday, May 30 and Monday, June 3 will likely fall within the range of €2 billion to €3 billion (US$2.1 billion to US$3.2 billion), according to...
Jun 14 2024 // Lawyers appointed by the liquidators of China Evergrande Group 3333.HK are investigating some of the property developer’s service providers including its former auditor PricewaterhouseCoopers, to potentially recoup...
Jun 14 2024 // The U.S. property/casualty market sustained an estimated $21.1 billion in underwriting losses in 2023, highlighting the challenges the industry faces as a result of natural catastrophes and inflation.According to joint...