Articles by Andrew G. Simpson

Leading Reinsurers Line Up for Lemonade, the P2P Insurer

Lemonade, the startup peer-to-peer insurance carrier that has raised $13 million in initial funding, announced a line-up of  global reinsurance partners, including Berkshire Hathaway and leading Lloyd’s of London syndicates. Lemonade set records with its initial funding by Sequoia and …

Ghost of 2008 Crash Still Haunts Real Estate E&O

The ghost of the 2008 financial collapse still haunts the liability insurance market for real estate professionals and some are worried the business may be headed for a replay of that crisis. While it is still recovering from the crash …

Long Hours for Surgeons Not Higher Risk to Patient Safety: Research

A new national study led by Northwestern Medicine showed allowing surgical residents the flexibility to work longer hours in order to stay with their patients through the end of an operation or stabilize them during a critical event did not …

Data Conversion Startup Captricity Gets White Mountain Insurance Backing

Captricity Inc., an Oakland, Calif.-based startup that gives businesses in regulated industries easy access to customer data trapped in handwritten forms, has raised $35 million in a Series C round of financing led by White Mountains Insurance Group. The latest …

EEOC Seeks Input on Workplace Retaliation Guidance

The U.S. Equal Employment Opportunity Commission (EEOC) is seeking public input on proposed enforcement guidance addressing retaliation and related issues under federal employment discrimination laws. The enforcement guidance documents set forth the EEOC’s interpretation of the law and seek to promote …

Moody’s, S&P, A.M. Best Release Ratings for AIG After Strategic Plan Outlined

American International Group Inc., which activist investor Carl Icahn is pressuring to divest assets, had the outlook on its credit rating changed to negative from stable by Standard & Poor’s after the insurer announced plans to sell a stake in …

Virtual Insurance Agent Insurify with License Plate Quote Feature Raises $2 Million

Consumers will soon be able to simplify the buying of auto insurance by snapping a photo of their license plate and texting it to a phone number provided by the new site, Insurify.com, which will then generate price quotes. The …

‘Old’ ACE, Chubb Report Q4, Full Year 2015 Results

Just shy of two weeks after closing on their merger, ACE Ltd. and Chubb Corp. released financial results for their last quarter and year as separate entities. On January 14, 2016, ACE closed on its acquisition of Chubb Corp. creating …

The Zebra Is Latest Insurance ‘Disrupter’ to Attract Funding

The Zebra, an online auto insurance comparison company, said it has closed $17 million in Series A funding with investment from Mark Cuban, Mike Maples Jr. (of Twitter and Lyft), Simon Nixon (of Moneysupermarket), Silverton Partners, and new investors Daher …

AIG CEO Says Future Split Possible, But Downplays SIFI Risk; Will ‘Narrow’ P/C Focus

American International Group (AIG)  CEO Peter Hancock, who announced the sale of  the company’s AIG Advisor Group and a partial (19 percent) spin-off of mortgage insurer United Guaranty Corp., said AIG is open to further divestiture, even of its biggest …