18 unchanged sentences
• Our reliance on key personnel and strategic relationships and our ability to maintain these relationships;
−Removed: • Our CEO succession plan, including the recent appointment of Margi Tooth as CEO, to be effective August 1, 2024;
• Fluctuations in foreign exchange rates, other issues relating to expanding our operations internationally, and general changes in the global economy that can cause our operating results to vary;
297 unchanged sentences
Our success also depends on our ability to attract, retain and motivate additional skilled management personnel.
−Removed: We plan to continue to expand our work force, which we believe will enhance our business and operating results.
As a result of COVID-19, we adopted hybrid work arrangements, which may result in decreased efficiency.
50 unchanged sentences
We expect to begin to underwrite our own products in Canada through our wholly-owned subsidiary, GPIC.
−Removed: If Accelerant were to terminate our agreement or be unable to write insurance for regulatory or other reasons, in particular before GPIC is duly authorized to write insurance across all Canadian jurisdictions, we may have to terminate subscriptions with our existing Canadian members and/or suspend member enrollment and renewals in Canada.
+Added: If Accelerant were to terminate our agreement or be unable to write insurance for regulatory or other reasons, we may have to terminate subscriptions or otherwise change coverage for our existing Canadian members and/or suspend member enrollment and renewals in Canada.
In addition, as we move business from Accelerant to GPIC, we may be required to contribute more risk-based capital than expected into GPIC.
14 unchanged sentences
• our ability to locally hire, integrate and retain highly skilled and motivated employees and establish and improve systems for operational and financial management where appropriate;
−Removed: • difficulties in managing operations due to language barriers, distance and time zone differences, staffing, cultural
−Removed: differences and business infrastructure constraints, including difficulty in obtaining foreign and domestic visas;
+Added: • difficulties in managing operations due to language barriers, distance and time zone differences, staffing, cultural differences and business infrastructure constraints, including difficulty in obtaining foreign and domestic visas;
• the uncertainty of protection for intellectual property rights in some countries;
14 unchanged sentences
insurers domiciled respectively in Missouri and Nebraska, ZPIC and QPIC.
−Removed: We are currently pursuing so-called expansion applications for these entities in most United States jurisdictions.
+Added: We are currently pursuing so-called expansion applications for ZPIC in most United States jurisdictions and are in the process of dissolving QPIC.
In addition, we own and are pursuing Canadian regulatory approvals for our Canadian insurer GPIC and we may also seek to acquire or establish other insurers.
152 unchanged sentences
Our business is heavily regulated, and if we fail to comply with the numerous applicable laws and regulations our business and operating results could be harmed.
−Removed: The sale of medical insurance for cats and dogs is heavily regulated.
+Added: The sale of medical insurance for cats and dogs, like other lines of insurance, is heavily regulated.
In the United States, insurance is regulated by each state in which we operate, and it is challenging to comply with the requirements of each of these jurisdictions along with the different Canadian federal provincial, and territorial requirements.
As we expand internationally, compliance with insurance-related laws, rules and regulations becomes even more difficult and imposes significant costs on our business.
−Removed: Each applicable regulator has broad supervisory power over all insurance-related operations, which can include granting and revoking licenses to transact insurance business, and imposing fines and other penalties.
+Added: Each applicable regulator has broad supervisory power over all insurance-related operations (and certain regulatory oversight of our group of companies), which can include granting and revoking licenses to transact insurance business, and imposing fines and other penalties.
Due to the complexity, periodic modification and differing interpretations of insurance laws and regulations, we have not always been, and we may not always be, in compliance with them.
57 unchanged sentences
If we are restricted or unable to communicate by phone, text or email with our members and potential members as a result of legislation, blockage or otherwise, our business, operating results and financial condition would be harmed.
−Removed: Our segregated account in Bermuda, WICL segregated account AX, could be adversely impacted by regulatory compliance of an unaffiliated third party.
−Removed: Wyndham Insurance Company (SAC) Limited ("WICL") is a class 3 insurer regulated by the Bermuda Monetary Authority ("BMA").
−Removed: WICL’s ability to continue operations and pay dividends could impact the ability of our segregated account to do the same.
−Removed: WICL’s failure to meet regulatory requirements set forth by the BMA could result in our inability to transact business with WICL segregated account AX.
−Removed: Further, WICL could be limited from allowing dividends to be paid out of segregated account AX in the event of adverse regulatory actions.
+Added: Our segregated accounts in Bermuda with Wyndham Insurance Company (SAC) Limited, could be adversely impacted by regulatory compliance of an unaffiliated third party.
+Added: We maintain three segregated accounts in accordance with Bermuda laws with Wyndham Insurance Company (SAC) Limited ("WICL").
+Added: One account, which we call WICL segregated account AX, has entered into a reinsurance agreement with our Canada insurance partner.
+Added: The second account, WICL Segregated Account Trupanion Germany, has entered into a reinsurance agreement with our German insurance partner.
+Added: The third account, WICL Segregated Account Switzerland has entered into a reinsurance agreement with our Swiss insurance partner.
+Added: WICL is a class 3 insurer regulated by the Bermuda Monetary Authority ("BMA").
+Added: WICL’s ability to continue operations and pay dividends could impact the ability of our segregated accounts to do the same.
+Added: WICL’s failure to meet regulatory requirements set forth by the BMA could result in our inability to transact business and through our WICL segregated accounts.
+Added: Further, WICL could be limited from allowing dividends to be paid out of any of our segregated accounts in the event of adverse regulatory actions.
Our accounting is becoming more complex, and relies upon estimates or judgments relating to our critical accounting policies.
59 unchanged sentences
Other than potential repurchases of our common stock, we currently intend to retain all available funds and any future earnings for the development, operation and expansion of our business and do not anticipate declaring or paying any cash dividends for the foreseeable future.
−Removed: APIC’s ability to pay dividends is limited by New York state insurance laws, and WICL Segregated Account AX’s ability to pay dividends is limited by our agreements with WICL as well as WICL’s regulatory requirements.
+Added: APIC’s ability to pay dividends is limited by New York state insurance laws, and the ability of our WICL segregated accounts to pay dividends is limited by our agreements with WICL as well as WICL’s regulatory requirements.
Any return to stockholders will therefore be limited to the increase, if any, of our stock price.
22 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.