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AmFed’s Pie Development alleges that Pie co-founders Dax Craig and John Swigart misappropriated trade secrets which led to the founding of the InsurTech.
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Slide has sent a notice to agents that it is accepting new policies on its legacy admitted HO3 product.
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In tandem, Gregg Davis and Rob Glanville will join the cyber InsurTech as independent directors.
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The funding round was led by Bling Capital, and included angel investors such as Vantage Risk CEO Greg Hendrick and CRC Insurance president Garret Koehn
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Increased interest rates and unfavorable market conditions led to reduction in capital issuance activity in the P&C insurance industry in 2022.
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The InsurTech said it had raised its per occurrence limit by 32%.
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The new funding, which brings the company's total raised to more than $30mn, will be used to further enhance its technology platform and data capabilities.
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The InsurTech MGA plans to invest in people, development and marketing efforts to add agents to its surety bond platform.
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Under the terms of the deal, Duck Creek shareholders will receive $19 per share, or a 46% premium to the InsurTech’s closing stock price on Friday.
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The InsurTech Corridor helps UK InsurTechs to prepare for entry into the US market.
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Inside P&C’s news team runs you through the key highlights of the week.