Financial holding company Ambac Financial Group has launched Everspan Group, capitalized with more than $100 million, to focus on writing specialty program insurance business. Everspan Group’s insurance companies include two Arizona-domiciled entities: Everspan Indemnity Insurance Co., an excess and surplus …
Digital pay-per-mile auto insurer Metromile will officially become a public company tomorrow as the deal to be merged with a special purpose acquisition company (SPAC) is expected to close today. INSU Acquisition Corp., a publicly traded SPAC, announced that its …
Three Democratic U.S. senators introduced a bill that would limit Section 230, a law that shields online companies from liability over content posted by users, and make the companies more accountable when posts result in harm. Called the SAFE TECH …
Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter. The transaction with Reinvent Technology Partners, a special purpose acquisition company that …
Fourth quarter profit at The Hartford dipped slightly due in part to COVID-related group life insurance claims. Fourth quarter 2020 net income came in at $532 million, down 2% from fourth quarter 2019. Fourth quarter earnings of $636 million, rose …
A federal judge has dismissed Walmart Inc’s lawsuit seeking to preemptively block the U.S. government from blaming the world’s largest retailer for its alleged role in fueling the nation’s opioid crisis. U.S. District Judge Sean Jordan said the government had …
Amazon.com has revealed plans to install AI-powered video cameras in its branded delivery vans, in a move that the world’s largest e-commerce firm says would improve safety of both drivers and the communities in which they deliver. The company recently …
Workers’ compensation underwriters are about to be tested in the marketplace like never before. While the current situation is not all because of the pandemic, the pandemic has “put gas on a fire that was already burning,” according to a …
The U.S. Securities and Exchange Commission sued two associates of Rudy Giuliani, the former New York City mayor and lawyer for Donald Trump, alleging they defrauded investors of $2 million in a company that never got off the ground. Lev …
Insurer Allstate reported improved auto underwriting results and strong investment returns for the fourth quarter 2020. Net income was up 52% to $2.6 billion for the quarter compared to net income of $1.7 billion in the same quarter in 2019. …