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Thoma Bravo’s Nearmap to Buy Insurance Tech Firm Itel for Over $1.3B
Thoma Bravo-backed Nearmap has agreed to buy insurance technology provider itel from private equity firm GTCR, the companies said on Tuesday, as it looks to expand its offerings across property portfolios. The deal values itel at over $1.3 billion, including …
POSTED MAY 21, 2025 5:27 AM |
Europe’s Farm Sector Loses €28 Billion a Year From Climate Risks
The European Union’s agriculture industry is losing €28 billion ($31.5 billion) a year due to increasing climate risks, such as droughts and flooding, according to a new study. Those losses from adverse weather equate to about 6% of production, according …
POSTED MAY 21, 2025 5:10 AM |
World Insurance Adds Two Agencies in South Carolina
New Jersey-based World Insurance Associates, one of the larger brokerages in the country, has continued its expansion plans with the recent acquisition of two agencies in South Carolina, the firm announced this week. Owens Insurance Agency, in Greer, and Stokes …
POSTED MAY 21, 2025 5:01 AM |
Alphabet’s Waymo Gets California Nod for Robotaxi Expansion in Bay Area
Alphabet’s self-driving unit Waymo said on Monday it received approval from California to expand its robotaxi operations in more areas of the San Francisco Peninsula and further south, including San Jose. Waymo’s permission from California comes as Tesla gears up …
POSTED MAY 21, 2025 5:00 AM |
Senate Will Try to Block California Vehicle Standards to Phase Out Gas-Powered Cars
The U.S. Senate will move this week to block California from enforcing a series of vehicle emissions standards that are tougher than the federal government’s, including first-in-the-nation rules phasing out the sale of new gas-powered cars by 2035. Majority Leader …
POSTED MAY 20, 2025 6:06 PM |
Central US Severe Weather Outbreak Caused Billions in Damages, AccuWeather Says
A multiday severe weather outbreak across the central U.S. caused an estimated $9 billion to $11 billion in total damages and economic loss, according to AccuWeather preliminary estimates. More than 70 tornadoes have been reported since May 16. Authorities say …
POSTED MAY 20, 2025 4:30 PM |
Ryan Specialty Acquires Irish MGU 360° Underwriting
Ryan Specialty, the Chicago-based international specialty insurance firm, announce that it has acquired 360° Underwriting (360), a managing general underwriter specializing in commercial construction. 360 is based in Dublin and Galway, Ireland, and will become a part of the Ryan …
POSTED MAY 20, 2025 4:29 PM |
No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best
Insurance industry financial strength rating agency AM Best said today that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers and may require the rethinking of some products. About two weeks …
POSTED MAY 20, 2025 4:23 PM |
Iowa-Based Ice Cream Manufacturer Issues Recall Over Plastic Concerns
An Iowa-based ice cream manufacturer has recalled nearly 18,000 containers of ice cream and frozen yogurt over concerns they could contain pieces of plastic. Wells Enterprises issued the voluntary recall last month, according to recently released information from the Food …
POSTED MAY 20, 2025 4:07 PM |
Stablecoin Bill Advances in US Senate in Big Win for Crypto
Stablecoin legislation overcame a procedural blockade in the US Senate, marking a major victory for the crypto industry after a group of Democrats dropped their opposition Monday. The industry-backed regulatory bill is now set for debate on the Senate floor …
POSTED MAY 20, 2025 3:05 PM |
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