Markets
Calif. Court Rules Amazon Can Be Liable for Injuries From Defective Products
Amazon.com can be held liable like other traditional retailers for injuries from defective products sold via its sprawling e-commerce marketplace, a California state appeals court ruled on Thursday. ...
Middle East Insurers Reportedly Absorbing Bulk of Beirut Blast Losses
Insurers in the Middle East are expected to absorb a large part of the losses from Beirut's explosion last week with Lloyd's of London and other international players expected to be less exposed, ...
Kin Raises $35M; Florida Home Insurance Carrier Pilot to Expand
Kin Insurance raised $35 million in new venture funding, attracting multiple investors including the investment arm of AAA Insurer CSAA Insurance Group. The Chicago-based home insurer focused on ...
AIG Promotes McElroy to Lead P/C Insurance Operations
American International Group promoted David McElroy to be the head of its property/casualty insurance operations. McElroy, Named CEO of AIG's General Insurance unit, also gains the title of Executive ...
Push to Consolidate COVID-19 Business Loss Suits Denied; Insurer-Based Grouping Eyed Instead
The legal panel on multidistrict litigation (MDL) has denied a proposal to consolidate cases brought by multiple businesses against various insurers for coronavirus-related business losses. At the ...
Britain Train Crash Is Worst in 15 Years; 3 People Dead
Britain suffered its worst train crash in more than 15 years after a derailment in Scotland killed three people, including the driver, and left another six injured. The Scotrail service was traveling ...
Insurance Software Maker Vertafore Sold to Roper in $5.4B Deal
Florida-based Roper Technologies has agreed to acquire insurance software maker Vertafore in an all-cash transaction valued at approximately $5.35 billion. Roper said the Vertafore management team ...
InsurTechs Focused on Commercial Auto and Climate Risk Secure New Funding
An InsurTech MGA focused on commercial auto insurance has raised $16 million in new Series A financing. A climate-risk related InsurTech raised $4.2 million in new seed financing. *** High Definition ...