Insurtech Noldor Announces $10M Seed Funding Round

Noldor, an insurtech redefining how carriers, reinsurers and reinsurance brokers connect with program data to optimize performance, recently closed on a $10 million seed funding round from a group of well-established insurance investors. According to CEO John Horneff, Noldor’s seed funding positions the company for long-term growth in using data to deepen relationships between coverholders… Continue reading Insurtech Noldor Announces $10M Seed Funding Round

Long Term Covid May Be Long Tail of Risk for Workers’ Comp Insurers

Cropped shot of an attractive young businesswoman sitting alone in her office and coughing as she suffers from a cold

Insurers are used to dealing with the unexpected, but determining the long-term effects of the Covid-19 pandemic could be especially difficult. Tough questions have arisen regarding how the more than one million Covid-19 deaths in the United States, as well as millions more cases, will alter the population’s future mortality and disability risk profile. On… Continue reading Long Term Covid May Be Long Tail of Risk for Workers’ Comp Insurers

California Truckers Facing Employee Status Legal Limbo Spells More Port Strains

Cargo trailer truck parked loading at dock warehouse. Cargo shipment. Freight truck transportation.

Matt Schrap, the CEO of the Harbor Trucking Association in Long Beach, California, offers some free advice to independent drivers after the United States Supreme Court ruled that their employment status is unconstitutional. “Get a lawyer,” he advised. California truck drivers must follow Assembly Bill 5 after the Supreme Court refused to hear a case… Continue reading California Truckers Facing Employee Status Legal Limbo Spells More Port Strains

Ships Get Older and Slower as Emissions Rules Bite

Fewer maritime losses, but industry facing challenges

If shipping is the heart of global trade, its beat is about to slow. Many shipping companies are sticking with ageing fleets due to uncertainty about which fuels to use in the long term to reduce greenhouse gas emissions, but older vessels may soon have to start sailing slower to comply with new environmental rules.… Continue reading Ships Get Older and Slower as Emissions Rules Bite

As Home Values Soar, Calls Grow to Increase Citizens Insurance Eligibility Cap to $1M Statewide

Homeowners insurance in Florida

Inflation has rendered thousands of Florida homes and condos ineligible for coverage by Citizens Property Insurance Corp., the state-owned “last-resort insurer.” Owners of Citizens-insured homes with replacement values in the $500,000 to $600,000 range received notices of non-renewal just a few years ago, forcing them to seek far-more expensive coverage in the unregulated surplus lines… Continue reading As Home Values Soar, Calls Grow to Increase Citizens Insurance Eligibility Cap to $1M Statewide

Twitter Hired a Big-Name Law Firm to Sue Elon Musk for Exiting $44B Takeover Bid

Twitter employee lawsuit

Twitter has hired Wachtell, Lipton, Rosen & Katz LLP to sue Elon Musk over his decision to cancel a $44 billion deal to acquire the app, according to Bloomberg. The firm specializes in merger litigation and has ties to the Delaware court system, which will hear the case. According to Bloomberg, Twitter intends to sue… Continue reading Twitter Hired a Big-Name Law Firm to Sue Elon Musk for Exiting $44B Takeover Bid

Yellowstone Fires and Floods and Reframing Catastrophes

driving in yellowstone national park - cody, wy - usa

The photos and videos of rivers flooding on the north end of Yellowstone National Park last month were a powerful testament to nature’s power. The park’s northern and northeastern entrances are now closed, likely for years, and the damage has been described as devastating, catastrophic, unprecedented, extreme – pick your apocalyptic adjective. The flood was… Continue reading Yellowstone Fires and Floods and Reframing Catastrophes

Insurtech Trend? Next Insurance, Thimble Announce Layoffs

Human resources concept on tablet with hologram

Israeli insurtech Next Insurance is laying off 150 employees, which make up some 17% of the company’s workforce. Most of those being laid off are based in the U.S., but it is believed that around 40 of the employees leaving the company are headquartered in Israel. “It was a very difficult decision, but we are… Continue reading Insurtech Trend? Next Insurance, Thimble Announce Layoffs

NHTSA Investigating Another Fatal Tesla Crash

Tesla hires former Geico exec

The National Highway Traffic Safety Administration has opened an investigation into a fatal crash involving a Tesla, according to documents viewed by TechCrunch. The investigation, which was opened in July, is the latest in a long string of inquiries by NHTSA’s Special Investigations program into crashes involving Tesla vehicles. This fatal crash, in which a… Continue reading NHTSA Investigating Another Fatal Tesla Crash

Crypto Industry Should Face Tougher Regulations, Fed Vice Chairwoman Says

SEC fine for cryptocurrency trading company

U.S. policy makers should extend investor protections and other financial rules to the cryptocurrency industry before the industry grows too large and begins to pose risks to the financial system, Federal Reserve Vice Chairwoman Lael Brainard said Friday. While touted as a fundamental break from traditional finance, the crypto financial system turns out to be… Continue reading Crypto Industry Should Face Tougher Regulations, Fed Vice Chairwoman Says