Author: completebodyneeds

Universal Property & Casualty Insurance Co., now Florida’s second-largest property insurer behind only State Farm Florida, continues to rebound from the dark days of Florida’s insurance crisis, with new policies, higher profits and an improved combined ratio. CEO Stephen Donaghy again credited 2022 legislative changes for stabilizing the Florida market, trimming excessive litigation costs and inducing lower reinsurance costs. His words echoed what other insurance executives and analysts have said in the last 12 months. “Notably, the net loss ratio improved by 7.5 points year-over-year, driven by favorable claims and litigation trends that we expect to benefit non-catastrophe margins throughout…

Insurtech Lemonade reported a second quarter 2026 net loss of about $43 million compared with a loss of about $44 million during the same time in 2025. Lemonade said its topline growth was positive, with 76% increase in year-over-year gross profit to a record of about $113 million. Q2 in-force premium (IFP) increased 32% to about $1.4 billion. Customer count increased by 23% to about 3.3 million. Revenue jumped 79% compared with Q2 2025 to $294.4 million. In a letter to shareholders, Lemonade said it is on track to post its first adjusted EBITDA-positive quarter in the fourth quarter 2026.…

One theme that has come up repeatedly in conversations with reinsurance brokers recently is that achieving a good renewal outcome is no longer always enough to demonstrate value. That would have sounded like a strange concern a few years ago. Brokers have traditionally been judged on their ability to access markets, secure capacity and negotiate favorable outcomes for clients – those remain important measures of success. What seems to be changing, however, is the way those outcomes are interpreted when market conditions are moving in the buyer’s favor. Several brokers have described variations of the same experience. A renewal proceeds…

The U.S. Federal Trade Commission sued Hims & Hers on July 29 alleging the telehealth platform shared users’ health data with online advertisers, despite promising privacy, and engaged in deceptive billing and cancellation practices. Users’ sensitive health information was shared with online advertising companies including Meta Platforms and Snap despite the company leading customers to believe their data was private, the FTC alleged in the lawsuit filed along with Los Angeles County and Utah. Hims & Hers stock added to losses after the news and was trading down around 12%. Hims & Hers is one of the largest telehealth players…

Utica National Insurance Group announced a partnership with the National Football League’s Buffalo Bills. Utica will become the “official home, auto, and business insurance partner” of the team. As the football season approaches, Utica National said it will roll out a series of “campaigns and engagements designed to celebrate the partnership, energize fans, and reinforce its commitment to protecting what matters most.” The insurer is planning game day activations, co-branded community initiatives, and integrated marketing campaigns. This collaboration is the largest corporate sponsorship in the insurer’s history. “We’re proud to stand alongside the Buffalo Bills and bring Bills’ energy to…

Inszone Insurance Services, a national provider of commercial, personal, and benefits insurance, announced the acquisition of Progress Brokerage Group, LLC, a specialized insurance agency based in Springfield, Pennsylvania. Founded in 2013 by Ed Snow, Progress Brokerage Group has built a reputation serving bars, restaurants, taverns, and hospitality businesses throughout Pennsylvania and neighboring markets. “Their expertise in hospitality insurance and their dedication to client service make them an outstanding addition to Inszone as we continue expanding throughout the East Coast,” said Chris Walters, CEO of California-based Inszone Insurance Services. “We had opportunities to speak with several organizations, but Inszone stood out…

Verisk, the data analytics and technology firm, announced it has acquired UK-based McKenzie Intelligence Services (MIS), a geospatial intelligence and event response company that specializes in global real-time catastrophe and conflict event analysis. Financial details of the transaction, which was completed by Verisk’s Catastrophe and Risk Solutions business, were not disclosed. (See related article: With Tech Tools Galore, It’s an Exciting Time for Insurtech McKenzie Intelligence) MIS provides rapid post-event damage assessment, military grade intelligence and actionable insights that empower real-time decision making in the aftermath of a major loss event. Other MIS services include: Faster, high resolution catastrophe event…

DoorDash Inc. is building its own delivery drones and has gained the necessary approvals to operate them commercially, the latest in its effort to delegate more orders to robots as a way of cutting delivery times. DoorDash, the largest food-delivery company in the US, has gained the Part 135 air carrier certification from the Federal Aviation Administration to commercially operate a drone delivery service, it said in a statement on Wednesday. The approval grants the company the ability to operate the drones “beyond visual line of sight,” according to the FAA website. The company said it has been conducting pilot…

Brown & Brown anticipates that the cost of the Howden-driven talent war for the full-year 2026 could hit $60 million – an increase from the $31 million it estimated last quarter. “Based on currently available information, we anticipate the full-year 2026 revenue impact, related to new and lost business as well as incentives, to be in the range of $50 million to $60 million,” said R. Andrew Watts, Brown & Brown’s chief financial officer and treasurer, who spoke during a recent analysts’ call to discuss Q2 2026 results. Brown & Brown, headquartered in Daytona Beach, Florida, previously had estimated that…

Relation Insurance Services announced their acquisition of the assets of Mid-State Insurance. The transaction went into effect on March 31, 2026; terms of the transaction were not disclosed. Founded in 1986 as an independent life and health agency in Milwaukee’s North Shore, Mid-State Insurance expanded its services to become a full-service, multi-line agency by 1989. Today, they are based in Mequon, Wisconsin, and offer a comprehensive suite of solutions including business and commercial insurance, employee benefits, and home, auto, life and health insurance, servicing clients throughout the Midwest and wherever their coverage needs exist nationally and internationally. Topics Mergers &…