InsurTech weekly - That was unexpected!

1️⃣ An #InsurTech stopped writing new policies

In an email reviewed by Coverager, delivered yesterday and addressed to an insurance agent, Hippo shared that it is pausing all new business countrywide “effective immediately.” The note also stated that Hippo will continue to monitor portfolio performance to reopen business on a state-by-state basi

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2️⃣ #AutonomousCars won a regulatory fight in SF

In a win for the autonomous vehicle industry, California regulators have given the green light to Cruise and Waymo to offer commercial robotaxi services across San Francisco 24 hours a day, seven days a week.

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3️⃣ A #FinTech player launched its own stablecoin

Payments giant PayPal said on Monday it has launched a U.S. dollar stablecoin, becoming the first major financial technology firm to embrace digital currencies for payments and transfers. PayPal's announcement, which lifted its shares 2.66% on Monday, reflects a show of confidence in the troubled cryptocurrency industry that has over the last 12 months grappled with regulatory headwinds that were exacerbated by a string of high-profile collapses.