News
Self-Driving Car Legislation Held Up in Senate Over Liability Concerns
A debate over who to blame — or sue — when a self-driven car hits someone is holding up legislation the industry says it needs to advance. "If another driver hits you, it's clear who the driver ...
Italy Investigating Alleged Automobile Insurer Cartel
Italy's anti-trust watchdog said on Friday it had opened an investigation into an alleged cartel among insurance companies and insurance price comparison companies to limit competition for automobile ...
InsurTech Startup Omnidya Sees Benefits in Crowdfunding Versus Straight VC
Most InsurTech startups seek out venture capital to help fuel their initial development goals. Omnidya is turning to a crowdfunding campaign to raise money. Omnidya's Founder and CEO Kumar Patel is ...
Mitsui Sumitomo Invests in Upstream Security for Strategic Telematics Partnership
Upstream Security has raised $36 million from Japanese carrier Mitsui Sumitomo Insurance as part of a strategic partnership designed to advance telematics in insurance. Upstream, based in Israel, is ...
Lemonade Makes Progress Building Its Brand, Spending Money to Make Money
Lemonade remains a money-loser, but the digital insurer continues to take steps toward building a sustainable business. One of those key areas is in advertising spend. In the company's Q1 2021 ...
SPACS, or Reverse Merger Companies, Raise Record $100B in 2021 So Far
Special purpose acquisition companies (SPACS) have raked in a record $100 billion through initial public offerings so far in 2021, data from Refinitiv showed, in what has been Wall Street's biggest ...
CNA Made a $40 Million Ransom Payment Following March Cyber Attack
CNA Financial Corp., among the largest insurance companies in the U.S., paid $40 million in late March to regain control of its network after a ransomware attack, according to people with knowledge ...
Executives On The Move at CNA, USAA and Markel
CNA appointed a new General Counsel. USAA hired on a new Chief Data and Analytics Officer. Markel Corporation promoted a rising executive to the position of Managing Director, Global Cyber ...