Industry News
Insurance Holding Company Alleghany Is Selling PacificComp to CopperPoint Mutual for $150M
Alleghany Corp. will sell off workers compensation carrier Pacific Compensation Insurance Company (PacificComp) to a rival for $150 million in cash. Arizona-based CopperPoint Mutual Insurance Company ...
MGA Acquisitions Still Hot: GC Securities
With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general ...
Executive Perspective: Our Time to Lead; Risk Remains When Waters Recede
As I record these thoughts, Hurricane Irma has been downgraded to a tropical depression after having lashed Florida and more than a half-dozen Caribbean Islands. The storm led to 6.3 million Florida ...
Munich Re Embraces Driverless Tech With Mobileye Partnership for Commercial Fleets
Auto insurers, faced with rising accident rates and the emergence of autonomous vehicles that could make them obsolete by removing human error, have reason to love and hate driverless technology. ...
CBO: Federal Flood Program Is Diving Deeper Into Debt Even Without Major Storms
The federal flood insurance program is on a course to continue falling deeper in debt, even when there is no catastrophic storm like Katrina or Harvey. The National Flood Insurance Program (NFIP) is ...
Startup DataCubes Raises $2.5M to Transform Commercial Underwriting With Data Science
DataCubes, a data science platform startup that enables carriers to accurately quote commercial insurance policies by asking customers a few simple questions, has completed a Series A funding round ...
Name Change Coming for Sciemus With HSCM Bermuda Partnership
Sciemus, a Specialty Lloyd's MGA, is forming an investing partnership with HSCM Bermuda, a firm that invests in reinsurance and insurance-linked assets across all lines of business. The deal also ...
After Months of Development, B3i’s Blockchain Prototype Is Ready for Testing
The industry's Blockchain Insurance Industry Initiative (B3i) has developed a reinsurance blockchain prototype for a property excess of loss contract—and could be on the cusp of an industry ...