Industry News
InsurTech Descartes Underwriting Raises $120M to Expand Parametric Product Offering
Descartes Underwriting, the InsurTech company that specializes in parametric natural catastrophe products, has announced a $120 million Series B funding round. Growth equity firm Highland Europe is ...
Florida Senator Tries Cat Fund Changes to Cut Cost of Property Insurance
Seeing no action on bills that would address Florida's spiraling property insurance problems head-on, one state senator took a different route Thursday and proposed reducing insurers' payments to the ...
Crop Insurance Payouts Have Risen Sharply Due to Droughts, Floods
Insurance payments to U.S. farmers for crops lost to droughts and flooding have risen more than threefold over the past 25 years, according to an analysis of federal data by the Environmental Working ...
The Latest Launches From WTW, Colonial Surety, Archipelago
WTW formed its CyberCrime task force within its financial, executive and professional risks (FINEX) global practice. The CyberCrime task force is dedicated to understanding the intricacies of cyber ...Resilience Creates Captive Reinsurance Company
Cyber insurance and security provider Resilience Cyber Insurance Solutions announced that it has created a captive reinsurance company. Through the captive, Resilience will retain a share of each ...
Executives on the Move at Buckle, SiriusPoint, Corvus
Buckle, an InsurTech with a full-stack insurance-as-a-service platform for the gig economy, has announced three key leadership changes: Pedram Afshar has been named chief credit officer. He was ...
Kin Insurance, Omnichannel Terminate Plan for SPAC Merger
Digital home insurance company Kin Insurance Inc. and Omnichannel Acquisition Corp., a special purpose acquisition company, announced they have mutually agreed to terminate their plan to merge. The ...Root Insurance Gets $300M Loan From BlackRock
Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term loan from BlackRock Financial Management. The ...