Duck Creek Technologies Inc., a software company that serves the property and casualty insurance market, on Wednesday raised the price range for its initial public offering (IPO) and expects to raise about $375 million. Boston-based Duck Creek, which is backed …
Florida-based Roper Technologies has agreed to acquire insurance software maker Vertafore in an all-cash transaction valued at approximately $5.35 billion. Roper said the Vertafore management team led by CEO Amy Zupon will continue to lead the business from its Denver, …
The legal panel on multidistrict litigation (MDL) has denied a proposal to consolidate cases brought by multiple businesses against various insurers for coronavirus-related business losses has denied motions to consolidate The U.S. Judicial Panel on Multidistrict Litigation panel rejected the …
Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of two-thirds of its revenues in the first quarter alone due to the pandemic. Ralph Lauren Corp. (RLC) maintains that Factory …
CNA Financial Corp. saw its 2020 second quarter net income sliced almost by half compared to the previous year due to “considerable catastrophe losses” from COVID-19, civil unrest and weather-related events. The Chicago-based commercial property/casualty insurer booked $151 million in …
When it comes to helping employees balance work hours with relaxation, Acuity Insurance Chief Executive Officer Ben Salzmann has a unique tool at his disposal: a 65-foot Ferris wheel. Before the pandemic struck, Salzmann would regularly fire up the amusement-park …
The Hartford emerged from the second quarter’s COVID-19 related challenges with an overall profit and a plan to reduce expenses through “headcount reductions,” information technology investments and other moves. The insurer is calling its expense reduction move Hartford Next and …
Reinsurance broker Guy Carpenter & Co., a business of Marsh & McLennan Cos., has appointed three new members to its Executive Committee. The new members are: Neil Mayer has been appointed chief operating officer for Guy Carpenter. In this role, …
Amazon Inc. is pairing cameras with artificial intelligence to enforce social distancing among employees in its offices and warehouses. The system gives employees real time feedback on whether they are complying with the six feet social distancing rule. “Given social …
In a case of competing deductibles, a federal appeals court has sided with an insurer and against the owner of two Houston office buildings, holding that a larger windstorm deductible applied to flood damage caused by Hurricane Harvey rather than …