Woman Walks into Ladder While on Phone
Walking-while-texting, which is now common, turned into a payday for a Georgia woman. She walked right into a ladder causing her phone to hit her forehead. And now, she’s $161,000 richer.
National Flood Insurance Program Secures $1 Billion in Reinsurance for 2017 For just the second time in its history, the federal government’s National Flood Insurance Program (NFIP) has reinsurance to help it weather major storms. The Federal Emergency Management Agency (FEMA), which manages NFIP, announced that it has secured more than $1 billion in reinsurance eﬀective January 1, 2017 through January 1, 2018 from a group of 25 reinsurers. Under the agreement, the reinsurers agreed to indemnify FEMA for flood claims on an occurrence basis. The layer is structured to cover 26 percent of losses between $4 billion and $8 billion. A combined total of $1.042 billion of the NFIP’s flood risk was transferred to the private reinsurance market through this agreement.
Insurtech Lemonade Wins $34 Million in New Funding As It Readies for West Coast Expansion Lemonade, the home and renters insurance company run by artificial intelligence and behavioral economics, announced a $34 million B round of funding. The latest round was led by General Catalyst with participation from GV (formerly Google Ventures), Thrive Capital and Tusk Ventures, as well as existing investors Aleph, Sequoia, and XL Innovate. This brings Lemonade’s total funding to date to $60 million. 
News for the independent insurance agents in Brooklyn Queens & Nassau Counties, written by Independent Agents.