Insurance

While Lemonade is still burning cash and reported a net loss on the bottom line of its third-quarter income statement, the insurtech expects both situations to reverse by year-end 2026. The cash situation, in fact, will turn around by year-end …

Sovereign Nations Insurance, LLC signed a settlement agreement with Washington Insurance Commissioner Mike Kreidler and has agreed to cease its operations in the state. Kreidler ordered Sovereign Nations to stop selling unauthorized insurance products in Washington last year, issuing a …

Connecticut-based independent insurance broker Evertree Insurance Services, LLC said it finalized its acquisition of Virginia Beach-based Prosper Insurance on November 1, bolstering its presence in the Mid-Atlantic region. Prosper has more than 100 employees and serves Virginia, Tennessee, North Carolina, …

RALEIGH, N.C. (AP) — A panel of judges on Wednesday blocked changes for now that were made by North Carolina`s Republican-controlled legislature to three state boards, attempts opponents criticized as a partisan bid to end Democratic Gov. Roy Cooper’s control …

Randy Willoughby’s lawyers turned a $10,000 uninsured motorist policy into a $4 million bad-faith settlement with his auto insurer. Then they won a $30 million jury verdict against the co-owner of the truck that crashed into him. Now, Willoughby’s counsel …

State authorities have announced charges against a company over a natural gas explosion that leveled a house and injured a western Pennsylvania family five years ago. Attorney General Michelle Henry said Wednesday that the criminal complaint alleges methane gas in …

HDI Global SE has received regulatory approval to open a branch in Lisbon, Portugal. HDI Global has been operating in the Portuguese market for more than two decades under the European Union’s freedom of services. The new branch office in …

The Travelers Companies today said it has agreed to buy cyber managing general underwriter Corvus Insurance Holdings, Inc. for about $435 million for its middle-market excess and surplus lines presence. “This transaction accelerates our access to cutting-edge cyber capabilities that …

FTX founder Sam Bankman-Fried was found guilty Oct. 2 of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire’s fall from grace. A 12-member …

Jensten, the London-based independent insurance broking group, has now completed the acquisition of East Anglia, England-based One Broker Group, following approval from the UK regulator. Its largest acquisition to date, the deal provides Jensten with a significant new regional centre …