Xactly Corp

INSURANCE TECHNOLOGY

Constellation | March 26, 2022

Constellation, Inc. (Constellation) and Michigan Professional Insurance Exchange (MPIE) announce the signing of an agreement under which the business, assets and liabilities of MPIE would be acquired by Constellation, a growing portfolio of medical professional liability (MPL) insurance companies. The agreement is pending regulatory and subscriber approval. This transaction will deliver many benefits for MPIE subscribers, including Constellation’s high level of financial sta...

Insurance Business Magazine | February 03, 2020

As multiple countries grapple with the novel coronavirus infection, individuals and organizations are scrutinizing their insurance policies to see if they are covering the losses caused by the epidemic. On the ground, several insurers have also launched efforts to support the fight against the infection. A report by the Financial Times said that while experts agree that many insurance policies may pay out, quite a few policies also have deliberate exclusions for epidemics and pandemics. The expe...

Coalition | July 24, 2020

Cyber insurance and security company Coalition has announced it is entering the excess cyber insurance market. The move will extend Coalition’s reach beyond offering primary insurance coverage. The company will now be able to provide brokers with excess cyber liability and technology errors and omissions insurance for middle-market accounts in the US with up to $10 million in aggregate limits. The new surplus lines capacity is backed by Lloyd’s and has an A rating from AM Best, Coali...

AUTOMOBILE INSURANCE

Lemonade, Metromile | August 01, 2022

Lemonade (NYSE: LMND), the insurance company powered by AI and social impact, today announced the closing of the acquisition of car insurance provider Metromile. Metromile shareholders received 7.3 million LMND shares, while Lemonade received a business with over $155m in cash, over $110m in premiums, an insurance entity licensed in 49 states, and a team unsurpassed in harnessing precision data for auto insurance. “We launched Lemonade Car a few months ago, and...