losses News

ACE Announces $380M Loss Estimate Related to Superstorm Sandy

ACE Limited announced preliminary losses in the fourth quarter for the ACE Group of companies attributable to Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax, net of reinsurance and including reinstatement premiums. …

California Workers’ Comp Losses, Expenses Reach Over $12B

A report issued last week by the California Workers’ Compensation Institute shows workers’ comp insurers’ loss and expense payments rose to nearly $12.5 billion in 2011, an increase of over $1 billion. The report, compiled from statistics from the Workers’ …

Kentucky Fire Marshal Seeks Help With Arson Cases

Because of an alarming increase in suspected arson fires in Kentucky, State Fire Marshal William Swope is asking citizens to provide information to help solve the crimes. Since December, arson has been suspected in nearly a dozen fires in Pulaski, …

Liquid Claims Introduces New Forecast Plus Software Tool

Liquid Claims LLC, a claims settlement services provider for investors involved in securities class action suits, has launched Forecast Plus, a software tool designed to provide clients with a detailed analysis of the their losses and possible recoveries. Forecast Plus …

Nationwide Posts $852M Q3 Loss Due to Disasters, Interest Rates

Nationwide Mutual reported a third-quarter loss Friday, as the property insurer said it was hurt by investment losses and continuing high levels of claims from natural disasters. Privately held Nationwide, one of the largest insurers in the country, said it …

Northeast Power Outages Hit Many Businesses Hard

Businesses big and small have taken a beating from the power outages caused by the record-setting October snowstorm and the losses are only beginning to be tallied, owners and experts said Monday as tens of thousands of Connecticut homes and …

AIG Loses $4B on Planes, Weak Markets

Insurer American International Group lost more than $4 billion in the third quarter, as its aircraft leasing unit took an impairment charge on a portion of its fleet and the fair value of the company’s one-third stake in Asian insurer …

Arizona Mortgage Insurer Subsidiary Seized by Regulators

Insurance regulators in Arizona have seized the main subsidiary of private mortgage insurer PMI Group Inc. A statement on PMI’s website says a court order gives Arizona’s Department of Insurance full possession and control of the Arizona-based subsidiary, PMI Mortgage …

Thailand Property Damage Flood Losses Could Total $3B

Barriers protecting Bangkok from Thailand’s worst floods in half a century held firm Sunday as the government said some water drenching provinces just north of the capital has began receding. That fueled hopes that Bangkok, a city of 9 million, …

Cincinnati Insurance Estimated Third-Quarter Cat Losses Up to $98M

The Cincinnati Insurance Companies’ property casualty group expects its third-quarter results to include pre-tax catastrophe losses of approximately $88 million to $98 million, with its commercial lines insurance segment accounting for almost two-thirds of that total. Steven J. Johnston, president …