Specialty
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 ...
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 ...
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 ...
Colonial Pipeline Rebounds From Massive Cyber Attack, Reportedly Has Ransomware Coverage
After a six-day outage, the top U.S. fuel pipeline on Thursday moved some of the first millions of gallons of motor fuels after a crippling cyberattack led to fuel shortages across East Coast states. ...
Amazon-Backed Digital Insurer in India Hopes to Raise $200M in New Financing
Acko General Insurance Ltd. is weighing a new funding round that could value the Indian online insurer at more than $1 billion, according to people familiar with matter. The Amazon.com Inc.-backed ...
Planck Pulls in $20M, Plans to Expand AI Data Platform Globally
Planck has attracted $20 million in additional venture capital cash. The InsurTech startup - centered around an AI-based data platform for commercial insurance - plans to use the investment to expand ...