Root Investigating at Least $9.5M Unauthorized Payments by Former Employee January 10, 2023 By Elizabeth Blosfield Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, is conducting an internal investigation into a series...
Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re January 10, 2023 By Tom Sims and Alexander Hübner Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on...
No Coverage for Food Plant’s $2M Cost to Avoid Shutdown, Potential BI Claim January 9, 2023 By Jim Sams Ken’s Foods would likely have filed a $10 million business-interruption claim had it not spent $2 million to upgrade its...
Teva Says Opioids Settlement to Move Forward January 9, 2023 Israeli drugmaker Teva Pharmaceutical Industries Ltd said there was sufficient participation from U.S. states and local authorities to move forward...
Amynta Group to Acquire Brit’s MGU Ambridge Group for $400M, Forms Capacity Deal January 9, 2023 Brit Ltd.’s managing general underwriter, Ambridge Group, will be acquired by Amynta Group for $400 million. In addition, a multi-year...
Vista Equity Partners to Buy Duck Creek for $2.6B Cash January 9, 2023 By Chad Hemenway Insurance software provider Duck Creek Technologies said it has entered into an agreement to be bought by Vista Equity Partners...
Bankman-Fried Fraud Charges Sidestep Debate Over How U.S. Law Sees Crypto January 9, 2023 By Luc Cohen Sam Bankman-Fried may find it hard to argue the fraud charges against him should be tossed because of uncertainty as...
M&A Drops From 2021 Record High but Activity ‘Solid’: Marshberry January 9, 2023 Following a record year in 2021, insurance agency consulting firm Marshberry said the amount of mergers and acquisitions in the...
Judge Approves $11M Fund to Settle Suit Against Zywave January 9, 2023 A federal judge last week approved an $11 million deal to end a proposed class action lawsuit against insurance technology...
People Moves: NFP Names Head of N.A. Construction Advisory; New Chief Underwriting Officer at Everspan January 6, 2023 NFP Names Canning SVP NFP has named Andrew Canning senior vice president and head of project risk advisory for the...