Nirvana Insurance — an insurance startup taking a new approach to insurance products for commercial fleets using artificial intelligence, telematics, internet-of-things technology and 15 billion miles of trucking data to calculate risk models — is taking on something else: new funding.
Category: Show on Homepage
Auto-Safety Regulators Investigate GM’s Self-Driving Cars Over Pedestrian Risks
General Motors’ driverless-car unit Cruise is confronting a new safety investigation by federal regulators, after reports of its autonomous vehicles exhibiting risky behavior around pedestrians.
Brown & Brown, Inc. Acquires Pacific Underwriters Corporation
A subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of Pacific Underwriters.
Travelers 3Q Profit Falls Due to Elevated Catastrophe Losses
The Travelers Companies reported a 14% decline in quarterly profit for the third quarter due to elevated catastrophe losses stemming from severe wind and hailstorms across several parts of the United States.
The Niche Insurance Policy Behind a Software Company’s Big Legal Payout
Appian, a business software company, took out what’s known as judgment preservation insurance, which protects against the downside of a lengthy appellate process.
Vehicle Thefts Continue to Increase to Near-Record Highs in 2023
The United States continues to be plagued by near-record levels of vehicle thefts, according to a new report released by the National Insurance Crime Bureau (NICB), the insurance industry’s not-for-profit association dedicated to preventing and combating insurance crime.
Howden Launches MGA, Insurtech Platform with $609.7 Million in Lloyd’s Underwriting Capacity
Broker Howden launched Howden Ventures, a global investment and risk incubator with £500 million ($609.7 million) of delegated underwriting capacity for managing general agents and insurtechs.
GE to Pay $61M to Settle 401(k) Fund Mismanagement Allegations
General Electric will pay $61 million to settle a class-action lawsuit brought by participants and beneficiaries of its 401(k) retirement plan, according to court documents filed Oct. 6.
Supreme Court to Hear Insurer’s Challenge to Kaiser Gypsum Bankruptcy Plan
The U.S. Supreme Court agreed to hear a case in which an insurance company is challenging a bankruptcy reorganization plan that it says doesn’t protect it against fraudulent claims tied to asbestos exposure.
U.S. Plans to Push Other Countries Not to Pay Hacker Ransoms
The U.S. is pushing a group of governments to publicly commit to not make ransom payments to hackers ahead of an annual meeting of more than 45 nations in Washington later this month.