Insurtech company Cover Whale announced it has closed on $27.5 million in debt and equity funding managed by Morgan Stanley Expansion Capital to continue growing its platform and solutions.
As a part of this fundraising event, previous debt investors agreed to convert their owed shares to Series A preferred shares. The company has raised $43 million since founding in 2019.
With its improved balance sheet, the company looks to continue investing in its platform to improve its commercial truck...
A recent change in New Jersey law requires a significant increase in the amount of coverage a large commercial vehicle must carry, raising the requirement to $1.5 million.
While some state legislators have been pursuing the change for several years, the final bill was approved last month and signed by New Jersey Gov. Phil Murphy.
Backers of the law declined to answer several questions emailed by FreightWaves regarding the specifics of the law. Various websites tied to insurance companies have...
Dan Abrahamsen is the founder and CEO of Cover Whale, an “insurtech” company that is focused on not only delivering insurance to truckers but using other tools to boost driver safety.
He joins Drilling Deep host John Kingston to discuss truck insurance in general, and specifically why the insurance market is about to feel the impact of AB5 coming to California’s trucking sector.
Also on the podcast, Kingston focuses on the complicated relationship among natural gas prices, diesel prices and the...
https://www.freightwaves.com/news/drilling-deep-truck-insurance-and-the-changes-ab5-is-bringing