Risk
InsurTech Startup Using Machine Learning for Claims Monitoring Raises $30M
InsurTech startup owl.co Labs, Inc. raised $30 million in new venture capital. Many plans are in play to spend the cash infusion, including hiring, and accelerated growth plans for the company's ...
Insurers, Banks, Investors Worth a Combined $130 Trillion Pledge to Prioritize Limiting Climate Change
Banks, insurers and investors with around $130 trillion or 40% of the world's capital at their disposal pledged on Wednesday to put limiting climate change at the center of their work. An ...
Lemonade Debuts Auto Insurance Cover, Initially in Illinois
Lemonade has formally entered the auto insurance markets, seven months after the New York-based digital insurer disclosed initial plans to do so. Illinois is the first market where customers can ...
AIG Closes Sale of Life & Retirement Unit Stake to Blackstone
Part of American International Group's plans to spin off part of its Life & Retirement business have come to fruition. AIG and Blackstone said they have closed on a previously announced agreement ...
Russia’s Yandex Follows Tesla Route With Safe Driver Insurance Discount Program
Russian tech giant Yandex plans to reward responsible drivers on its car-sharing platform with cheaper insurance this year, it told Reuters, using machine learning in a pilot program similar to one ...
Hiscox Sets Aside $150M for Hurricane, Flood Losses
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts' expectations, while it reported strong premiums written this year ...
Jury Sides With Insurer in COVID-19 Business-Interruption Claim
A Kansas City jury decided in favor of the insurer in the nation's first jury trail of a lawsuit that sought coverage for business-interruption losses caused by the coronavirus. The jury for the U.S. ...
CNA Boosts Net Income Even as Cat Losses Rise, Investment Results Dip Lower
Continued rate hikes helped boost CNA Financial's 2021 third quarter net income, even as the Chicago-based commercial and specialty property/casualty insurer dealt with higher net catastrophe losses ...