home insurance News

Markets/Coverages: Hippo Enters Home Insurance Market in Massachusetts

Digital insurer Hippo Insurance Services announced the availability of its home insurance products in Massachusetts. Residents of the Bay State can now access Hippo’s home insurance coverage, as well as company-provided smart home devices. With the addition of Massachusetts, Hippo …

Agent-Focused Home Insurer Openly Closes $75 Million Funding Round

Boston-based Openly, an insurtech homeowners insurer distributing through independent agents, has closed a $75 million Series C investment. According to founders Ty Harris and Matt Wielbut, Openly has responded to a perceived gap in the market: while consumers are increasingly …

Hippo Expands Homeowners Association Insurance Offering to 15 States

Technology-driven Hippo has expanded its commercial lines homeowners association (HOA) insurance offering into 15 additional states after debuting it last August in Arizona. Hippo’s HOA insurance is now available in Arizona, Colorado, Delaware, Idaho, Illinois, Indiana, Massachusetts, Maryland, Michigan, Nevada, …

‘Cat-Focused’ Kin Insurance Acquires Shell for Expansion; Expects SPAC Closing in Q1

Kin Insurance, a digital direct-to-consumer home insurer that targets catastrophe-prone areas, said it has has acquired an inactive insurance carrier holding licenses in 43 states. Kin, which has operated in Florida, California, Georgia and Louisiana, first announced the planned purchase …

Insurtech Slide Closes $100M Fundraising Round

Slide, an insurtech company based in Tampa, announced it is closing its oversubscribed, $100 million Series A fundraising round. Slide uses data, artificial intelligence and machine learning to let homeowners create insurance policies, and the fundraising will help the firm …

UK Insurers Warned They Could Face Regulatory Action Over Car, Home Policies

LONDON – Insurers in Britain that are not ready to implement tougher “value for money” rules on car and home policies could face disciplinary action, the Financial Conduct Authority said on Wednesday. The FCA found in May that loyal customers …

Lloyds Bank Fined $125M for Inaccurate Communications over Home Insurance Renewals

Lloyds Banking Group Plc’s insurance unit was fined 90.7 million pounds ($125 million) by the UK Financial Conduct Authority for failing to make sure language in millions of home insurance policies was clear. The FCA said the insurance division sent …

AXA Partners with Hong Kong Broadband Network to Offer Homeowners Insurance

Hong Kong Broadband Network Ltd. (HKBN) is now offering customers an “All-in-One Home Kit,” complete with fiber broadband service and home insurance from AXA Hong Kong and Macau (AXA). The kit also has a home network security solution and smart …

Insurtech MGA Hippo to Buy Its Carrier Partner Spinnaker Insurance

Home insurance insurtech agency Hippo plans to acquire New Jersey-based Spinnaker Insurance Co., an insurer with which it has has had a three-year partnership. The deal, first reported by Carrier Management, is designed to help Hippo – a managing general …

Swiss Re’s iptiQ and IKEA Partner to Offer Home insurance

Swiss Re’s iptiQ and IKEA announced the launch of HEMSÄKER, home insurance that provides accessible protection at an affordable price, said Swiss Re in a statement. HEMSÄKER, which can be purchased online via the IKEA website, was created to extend …