Industry News
Tech Bytes: New Partnerships at First Street Foundation, IMG, Ascend
Science and technology non-profit First Street Foundation and Compass Inc. announced a partnership to integrate Risk Factor, a provider of property specific, climate risk intelligence, into Compass ...
M&A Deals: Lemonade Sells Metromile’s EBS Platform to EIS; Liberty Mutual Acquires AmGeneral
Lemonade has sold Metromile's Enterprise Business Solutions (EBS) to digital insurance platform EIS. EBS was Metromile's SaaS claims automation and fraud detection platform that it licensed to large ...
Global Commercial Insurance Rates Rise 9%, Continuing Moderating Trend: Marsh
Global commercial insurance prices increased 9 percent in the second quarter of 2022 (down from an 11 percent increase in Q1), continuing a trend of moderating rate increases that began in Q1 2021, ...
U.S. Crop Writers Post Record Premium Growth on Commodity Prices, Innovation: AM Best
Premiums in the federal multi-peril crop insurance (MPCI) program surged in 2021 to a record high of $14.9 billion, an increase of nearly 40 percent over the previous year, according to an AM Best ...
Washington Judge Overturns Credit Scoring Ban
A judge on Friday overturned a Washington state rule prohibiting insurers from using credit scoring to set rates for auto, homeowner and renter insurance. Insurance Commissioner Mike Kreidler adopted ...
Lemonade Lays Off Metromile Employees Immediately
Immediately after Lemonade closed its deal of Metromile on July 28, job boards lit up with news of layoffs at the acquired company. Former Metromile employees have been posting the news on LinkedIn, ...
Industry’s Blockchain Project, B3i, Ceases to Trade After Filing for Insolvency
The industry's blockchain project, B3i, has ceased activities and filed for insolvency following unsuccessful funding rounds. "The directors, following consultation with the shareholders, have ...
Judge Questions 3M’s Use of Bankruptcy to Fight Veterans’ Suits
The federal judge administering more than 230,000 lawsuits against 3M Co. questioned whether the industrial giant acted in good faith when it decided to try to shift the cases to bankruptcy court ...