Industry News
Nationwide Becomes Fully Independent Agency Carrier on July 1
Nationwide said it will complete an 18-month transition on July 1 to operate as a fully independent agency carrier. With that milestone date, more than 99 percent of the company's formerly captive ...
German InsurTech Friendsurance Turns to Debt Financing as Funding Alternative
Many InsurTech startups pursue venture capital or equity financing to fuel their growth (the sale of stock to investors who gain ownership interest in return). Germany's Friendsurance recently took a ...
Picture an experienced underwriter who’s spent 30 years building carrier relationships, spotting risks others miss, and mentoring producers. Over the...
Drivers Sped During Lockdowns, Making Car Crashes Deadlier
Coronavirus lockdowns led to huge reductions in traffic and fewer car crashes this spring, but as drivers sped up on quieter roads, the collisions became deadlier in several cities, a Reuters ...
New Flood Risk Maps Designed to Address Major Government Deficiencies
First Street Foundation, a nonprofit agency, is making accurate climate change-adjusted flood scores available for every property in the U.S. today. There are government-produced maps showing 8.7 ...
Liberty Mutual’s Safeco, Heritage Insurance to Take Over AIG’s Upper Middle Market Biz
American International Group is transferring part of its personal insurance business for upper middle market clients to Liberty Mutual's Safeco Insurance and Heritage Insurance Holdings, a ...
Overly Broad Exclusions and Double-Digit Rate Hikes Seen in 6/1 Re Renewals
Providing a preliminary analysis of June 1, 2020 reinsurance renewals in Florida, Guy Carpenter reported that COVID-19 accelerated the firming of the reinsurance market, with carriers facing a ...
Aclaimant, a Safety and Risk Management Software Startup, Raises $10M
The InsurTech Aclaimant secured $10 million in venture capital financing to help grow the reach of its workflow platform for safety and risk management. With cash in hand, the Chicago-based startup ...
Generali Reportedly Interested in Acquiring U.S. Asset Manager Brightsphere
Assicurazioni Generali SpA has approached Brightsphere Investment Group Inc about a possible acquisition of the U.S. asset management firm, people familiar with the matter said on Friday. A deal ...