Markets
New Spinnaker CEO Ostergaard Embraces Synergy Hippo Ownership Brings
Hippo-owned Spinnaker Insurance Company appointed a former USAA executive as its new president and CEO. Torben Ostergaard is signing onto Spinnaker after more than a decade in various c-suite ...
‘Modest Improvement’ for Commercial Auto Could Lead to Break-Even 2021: Fitch
Commercial auto insurance is on the road to "modest improvement" for 2021, thanks to both rising rates and a pandemic-related reduction in driving, according to a new Fitch Ratings report. Fitch said ...
Metromile Hires Capital One Vet to Guide National Digital Insurance Growth Efforts
Metromile, a digital insurance platform and pay-per-mile auto insurer, hired a Capital One marketing veteran to help shepherd national growth. Troy Dye, who was with the credit card giant for 20 ...
Genworth Financial Defers Mortgage Unit IPO, Citing Trading Volatility
Insurer Genworth Financial Inc said on Thursday it had deferred the initial public offering of its mortgage insurance unit, Enact Holdings, citing significant trading volatility in the sector. ...
PartnerRe Loses $66M in Q1, Due in Part to Winter Storm Uri
PartnerRe lost $66 million in the 2021 first quarter, due in part to market volatility and $104 million of net losses from Winter Storm Uri. At the same time, the company has enjoyed momentum from ...
Short Seller Muddy Waters Accuses Lemonade of Neglecting Website Security Vulnerability
Lemonade co-founder Shai Wininger is denying accusations from an activist short seller that the insurer's website has a serious security vulnerability. Muddy Waters Capital claims in a May 13 open ...
Zywave Buys Up Modgic, Strengthening Its Workers Comp Software Offerings
Insurance technology provider Zywave has acquired Modgic, an Oregon-based provider of workers compensation and modification analysis software for the commercial insurance industry. Neither side ...
Federal Ransomware Advisories Create Cyber Insurer Exposure Risks
As the COVID-19 pandemic and the switch to remote work have highlighted cyber risks and drawn attention to the various methods cyber attackers are using, ransomware has continued to steal the ...