Insurtech Lemonade Inc. narrowed its first-quarter net loss to $47.3 million from $65.8 million a year earlier as artificial intelligence enabled its “relentless pursuit of automation at every stage,” the company said in a shareholder letter.
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Eight Newspapers Sue OpenAI, Microsoft for Copyright Infringement
Eight daily newspapers including The New York Daily News and The Chicago Tribune sued OpenAI and Microsoft on Tuesday seeking to stop the tech companies’ from using copyrighted articles to train artificial intelligence chatbots.
Delos Insurance and Lloyd’s of London Insurer Partner to Expand Vacant Home Insurance in California
Delos Insurance Solutions, which uses wildfire science and satellite imagery expertise to solve homeowners’ wildfire insurance availability issues, today announced it will offer wildfire insurance to more California policyholders with vacant properties.
Everest Group First-Quarter Net Income Doubles as Underwriting Jumps
Everest Group Ltd.’s first-quarter net income more than doubled from the previous year, to $733 million from $365 million on improved underwriting and strong net investment income generation.
Florida Market Anticipated to Be Healthy at Upcoming June Renewals: Arch CEO
Commenting on the upcoming June reinsurance renewal in Florida, Marc Grandisson, President, and CEO of Arch Capital Group, expects the state’s market to be “well priced” and “very good” on a risk-adjusted basis.
Walmart Is Shutting Health Centers After Plan to Expand
Walmart, the world’s largest retailer, said Tuesday that it was shutting down its health care centers, a network that only last year it said it planned to expand.
Baltimore Bridge Disaster Costs Aspen as First-Quarter Profit Declinest
Aspen Insurance Holdings Ltd. posted lower first-quarter net income as lower underwriting profit — due partly to the Baltimore bridge disaster — outpaced investment gains.
BRP Group to Rebrand as The Baldwin Group
BRP Group, Inc. announced today that it will transition to a new firm-wide brand to best reflect the firm’s transformation, growth and integrated approach to delivering innovative client solutions.
Self-driving Tractor-Trailers Heading for U.S. Roads
Within three or four years, Aurora and its competitors expect to put thousands self-driving trucks on America’s public freeways. The goal is for the trucks, which can run nearly around the clock without breaks, to speed the flow of goods, accelerating delivery times.
States Struggle to Keep Property Insurers from Fleeing as Wildfire Risk Grows
Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won’t be renewed because their insurance company has deemed the risk too high.