Story Summary
On April 28, 2026, Bermuda-based Banyan Risk appointed Dan Malloy as executive managing director to support growth, while London-based CFC named Isabel Finn as head of Cyber Exposure and Proactive Risk. Malloy, formerly SiriusPoint CEO, joins to lead underwriting platform expansion, whereas Finn will translate cyber data into actionable insights for brokers and clients.
Insurtech Lemonade reported a first quarter 2026 net loss of $35.8 million, down from $62.4 million in 2025, while achieving 159% year-to-year gross profit growth to $100 million and 32% in-force premium growth to $1.3 billion. Revenue increased 71% to $258 million, driven by pet and car insurance segments, though operating expenses rose to $159.3 million.
GEICO reported a reporting error that sent erroneous cancellation notices to Florida drivers between January 1 and April 13, causing the Florida Highway Safety and Motor Vehicles department to display suspended license warnings. The company stated it is working with state officials to correct records and will proactively contact affected policyholders. No specific number of impacted records was disclosed.
The California Department of Motor Vehicles adopted new regulations on Tuesday permitting manufacturers to test and deploy heavy-duty autonomous vehicles weighing over 10,001 pounds. While medium-duty vehicles up to 14,001 pounds are restricted to public agencies and universities, heavy-duty units must still stop at patrol stations and adhere to commercial motor vehicle rules. Manufacturers must complete specific mileage testing phases, beginning with a safety driver before progressing to fully driverless operations and commercial deployment.
A workers' compensation claim filed by a laborer injured at the mansion of Georgia governor candidate Rick Jackson has sparked accusations that he hired undocumented workers. Jackson admitted in depositions that he did not know a supervisor was unauthorized to work. The Georgia Board of Workers' Compensation denied the claim, but the worker's attorney argues the board erred by failing to review Jackson's immigration status checks. An appeal is scheduled for May 14 in Forsyth County Superior Court.