Clear Blue Insurance Co. and Aon plc will have until June 21 to present motions in Clear Blue’s lawsuit again the broker in a case related to the bankruptcy of insurtech Vesttoo Ltd.
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SEC Prepares to Sue Robinhood Over Crypto Unit
The Securities and Exchange Commission is preparing to sue Robinhood Markets’ crypto unit, ramping up its crackdown on digital-currency trading to target one of the most popular U.S. brokerage firms, the company said Monday.
Prudential to Shut Down Assurance, the Insurtech Startup It Acquired for $2.35B in 2019
Insurance giant Prudential is shutting down Assurance IQ, five years after spending $2.35 billion to acquire the under-the-radar tech startup based in the Seattle region.
Homeowners Insurance Company Asked for 93% Rate Hike in N.J.
At least one company asked state regulators for permission to raise rates by 93.4%, according to data obtained from the New Jersey Department of Banking and Insurance (DOBI).
Allstate CEO: Personal Auto Legal Costs Accelerate Rate Increases
If Allstate Corp.’s customers “quit getting sued every time they have an accident” the company could ease back on some rate increases, according to Chairman, Chief Executive Officer and President Tom Wilson.
Investors Are Suing One of the 12 Failed Home Insurers in Louisiana
As claims poured in from Hurricane Ida, executives of Lighthouse Insurance Co. scrambled to land an infusion of cash from investors, both to assuage concerns from regulators and in hopes of keeping the firm afloat.
SIAA’s Four Texas Master Agencies Host Groundbreaking Lone Star Summit
The Lone Star Summit, a groundbreaking event uniting the four Texas Master Agencies of SIAA – The Agent Alliance, concluded its first gathering on May 1, 2024, at the picturesque Hyatt Regency Hill Country Resort and Spa
Chubb to Make $350 Million Payout in Baltimore Bridge Collapse
Chubb, the insurer of the collapsed Francis Scott Key Bridge in Baltimore, is preparing to make a $350 million payout to Maryland, paying the full amount of the coverage quickly rather than waiting for the rebuilding to begin.
ACORD’s Insurance Carrier M&A Study: Only 52% of the Last Decade’s Largest Transactions Created Long-term Value
ACORD, the standards-setting body for the global insurance industry, today released the first-of-its-kind study Carrier Mergers & Acquisitions: Major Transaction Value Analysis.
Best’s Market Segment Report: U.S. Medical Professional Liability Segment’s Profitability Buoyed by Net Investment Income
Premium growth for AM Best’s medical professional liability (MPL) composite moderated to 3.6% in 2023, but overall financial results were buoyed by favorable net investment income, according to a new AM Best report.