Broadway giant Jujamcyn Theatres sues insurers over pandemic payouts

Jujamcyn Theaters - Image of the interior or a theater

The company operates big-name theaters and is suing two insurers for the size of the payments. Jujamcyn Theaters, operator of the homes of top shows such as “The Book of Mormon”, “Moulin Rouge: The Musical,” “Hadestown”, and “Mean Girls,” is suing its insurance companies. The insurers named in the lawsuit include the Pacific Indemnity Company and the Federal Insurance Company. According to the Jujamcyn Theaters filing, the insurance companies paid only $250,000 for covering what it alleges should be “tens of millions of dollars” in losses associated with the pandemic…

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Allstate Corporation July losses offset by substantial income generation

Allstate Corporation - Money - Puzzle

Though there were a number of catastrophic events, PG&E subrogation recoveries made up for it. Allstate Corporation has reported that even though it faced a spectrum of catastrophic events during July 2020, the losses it experienced were more than offset by its incomes. The insurer faced losses of $145 million in July due to catastrophic events of various forms. The losses faced by Allstate Corporation were more than offset to the PG&E subrogation recoveries income generation that occurred during that same month. In July, the catastrophic event losses were quite…

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Simple Options for People New to Investing

new to investing

Planning for the years ahead, or for your retirement, involves a lot of strategic financial management. And as we’ve noted in the past, this should involve a process of investing sensibly. Generally, this means finding low-risk opportunities that you can afford, but may still profit from. However, that can be easier said than done! If you’re not someone with a lot of financial management or investing experience, it can be a little bit difficult to know where to start. The stock market (which most people think of first when they hear…

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RMS pegs Hurricane Isaias loss estimates as high as $5 billion

Hurricane Isaias - American dollars

The insured total loss estimates in the United States include those from NFIP claims. The Risk Management Solutions (RMS) catastrophe risk modeling firm has predicted that the total insured losses associated with Hurricane Isaias in the United States will be between $3 billion and $4.5 billion. The Atlantic storm caused less than $500 million in insured damage in the Caribbean, said RMS. The US estimate includes the losses the National Flood Insurance Program (NFIP) covered from Hurricane Isaias. Those were estimated to have fallen between $400 million and $700 million,…

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Signed Kurt Cobain homeowners insurance policy is being auctioned off

Kurt Cobain - Home insurance signature

The document was for the coverage of the home in which the Nirvana lead singer was found dead. A homeowners insurance policy bearing the rare full signature of the late Kurt Cobain is being auctioned off by Inscriptagraphs Memorabilia. Goldin Auctions is brokering the sale of the item on behalf of the memorabilia company. The policy’s signature is considered particularly rare as Kurt Cobain was not in the habit of signing his full name. His autograph typically consisted only of his first name. In this particular instance, he wrote his…

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Allstate Q2 report shows a strong 49 percent increase in profit

Allstate Q2 - person holding money

Despite the impact of the pandemic, the insurance giant reported a $1.2 billion net income. The Allstate Q2 earnings report has revealed that the company brought in a net income of $1.2 billion and saw a 49 percent increase in profits over the second quarter of 2019. The insurer saw a $904 million underwriting income, which is a 146 percent year over year rise. The 146 percent increase in the Allstate Q2 underwriting income brought the company’s income from last year’s second quarter at $537 million to $904 million this…

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5 Ways Coronavirus Will Drastically Alter Boomer Retirements

baby boomer retirements

The boomer generation is defined as people born between 1946 and 1964, effectively products of the post-World War II economic boom. These are people that will be hoping to either be retired or to retire within the next ten years. They lived through economic ups and downs and are generally seen as one of the wealthiest generations to date.  Thanks to advances in medical care some of these boomers are still earning today, despite being past retirement age. However, all of them will need to speak to a reputable financial…

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