Lemonade IPO takes off by 132 percent in first day of trading

Lemonade IPO - Stocks

The tech-driven insurance company’s initial public offering proved to be a great success. Investors proved highly enthusiastic over the Lemonade IPO that took place on Thursday, sending the company’s share up by more than 130 percent on its debut trading day. The newly public firm is a tech-driven insurance company focused on digitizing the customer experience. The Lemonade IPO placed the spotlight on this insurer that has provided consumers with a fully digitized experience for purchasing and managing various forms of coverage. The company has Softbank’s backing and had originally…

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Nationwide starts July as fully independent insurance agency carrier

Independent insurance agency carrier - newspaper, business section

The company has completed its transition which has been ongoing over the last 18 months. Nationwide has announced that as of July 1, it has become an independent insurance agency carrier. The Columbus, Ohio-based insurer has kept its relationships with 99 percent of its formerly captive agents. For 18 months, the insurer has been working on the transition process to become an independent insurance agency carrier. Throughout that time, it has managed to keep over 99 percent of its agents, who were formerly employed by the company. Now, those insurance…

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Lloyd’s of London insurance companies prepare for a September re-opening

Lloyd’s of London Insurance - Lloyd's building mirrored in other building

Following the pandemic lockdown, the insurers are preparing to bring their workers back to offices. Lloyd’s of London insurance companies will be re-opening their offices and bringing their workers back in September 2020. The insurers are preparing to make a range of changes in order to prepare for employee returns. Among the changes Lloyd’s of London insurance companies will use methods such as temperature checking thermal cameras, clear screens on underwriting boxes, and click and collect take-out catering services. These will be meant to help ensure workers will continue reducing…

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New Jersey Senate passes bill for COVID-19 dependent benefits

COVID-19 dependent benefits -nurse wearing mask

The bill will provide a weekly supplement to family members of essential workers who die from the virus. The New Jersey Senate has just passed a bill for providing COVID-19 dependent benefits supplements when essential workers in the state die from having the coronavirus. SB 2476 passed on Monday by a vote of 38-1 and will use the NJ Second Injury Fund. Essential workers whose dependents would qualify should the worst happen from coronavirus infection include fire, police and other first responders. They also include medical and other health care…

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Minnesota looting damage to generate insurance payouts of over $25 million

Looting damage

Protests over George Floyd’s death were particularly destructive to property in his home state. The looting damage and property destruction that occurred in some of the Minnesota protests over the death of George Floyd on May 25 while in police custody will bring insurance companies an estimated bill of about $25 million. This doesn’t take into consideration the destruction that happened in other places across the country. The $25 million estimate was calculated by Property Claim Services, an insurance industry company that tracks catastrophes. The firm labeled the protests as…

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Telehealth insurance claims from private policies up by 4,347 percent

Telehealth insurance claims - mobile phone and stethoscope

This trend was led by the Northeastern US, where the increased reached a much higher 15,303 percent. The latest FAIR Health report recorded a striking increase in the number of telehealth insurance claims in the United States, which rose by 4,347 percent compared to last year. This dramatic trend is directly linked with the coronavirus pandemic precautions since March. The leading reason that people filed telehealth insurance claims was for mental health conditions. The next most common reason for using these services was for respiratory diseases and infections, then joint/soft…

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State Farm pet insurance launched for dogs and cats through Trupanion

State Farm Pet Insurance - Dog and Cat

The coverage will protect animal owners against many veterinary costs for their furry family members. State Farm pet insurance has been launched through a partnership with Trupanion to provide animal owners with the opportunity to purchase medical coverage for their fuzzy friends. Dogs and cats are regularly considered to be non-human family members, but veterinary care is expensive. As Americans become increasingly attached to their pets, the world of veterinary medicine has skyrocketed forward. Animal owners demand the type of medical care they would otherwise expect for their human family…

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