DENVER, Oct. 14, 2020 /PRNewswire/ — Pie Insurance, an insurtech specializing in workers’ comp  insurance for small businesses, today announced it has exceeded $100 million in cumulative written premium and surpassed $100 million in annualized run rate premium. In less than 3.5 years since being founded, Pie Insurance has cemented its spot as the fastest insurtech company to hit these milestones. This monumental growth is evidence that small businesses, and the insurance agents who serve them, are ready to adopt a modern and automated insurance experience.

(PRNewsfoto/Pie Insurance)

“Commercial insurance in the United States generates $300 billion in annual premiums. However, the industry operates in an almost entirely analog environment,” commented Dax Craig, Co-Founder and President of Pie Insurance. “Pie leverages technology to modernize the entire insurance experience for small businesses, and our rapid growth is a testament to the huge unmet need in the market.”

Today’s milestones follow Pie’s last funding in May, in which the company raised $127 million and formed its affiliated entity, Pie Carrier Holdings. To date, Pie has raised $188 million to further the company’s mission of transforming small business insurance by automating the entire quote to claim experience—starting with workers’ comp insurance. Pie’s use of advanced analytics enables quotes in 3 minutes and savings of up to 30% for small businesses.

“Reaching $100 million in written premium in such a short time since our founding shows that there is a massive appetite for workers’ comp insurance that is simple, trusted and affordable,” said John Swigart, Co-Founder and CEO of Pie Insurance. “We recognize the numerous challenges that small businesses are currently facing, and we believe finding insurance shouldn’t add to their burden. We’re proud to help small businesses around the country save money and get workers’ comp insurance  quickly so they can focus

The analysis concludes Biden’s plan would raise $2.8 trillion over the next decade from higher taxes on businesses, corporations and the wealthiest households. Over that time, AEI projects the higher taxes would reduce economic growth by a relatively modest 0.16 percent.

The plan would “make the tax code more progressive,” AEI’s Kyle Pomerlau and Grant Seiter write. And after slightly crimping growth in its first decade, it would “reduce debt-to-GDP in the second decade, leading to slightly higher GDP. However, in the long term, his plan would not raise enough to stabilize debt-to-GDP and would lead to a 0.18 percent smaller economy.”

The macroeconomic drag the AEI model anticipates roughly aligns with other analyses from the Tax Foundation and the Penn Wharton Budget Model, Pomerlau notes. In other words, rolling back most of the Trump tax cuts wouldn’t bring about the economic Armageddon the Trump campaign has depicted.

Neither would it jack up taxes on every American. 

Vice President Pence made that claim during his debate with Sen. Kamala Harris (D-Calif.),  Biden’s running mate, last week. The AEI analysis finds the top 1 percent of taxpayers would see a 14.2 percent hit to their after-tax income next year. The rest of the top 5 percent would face a small uptick in their burden. But everyone else would receive an after-tax income bump. The largest such increase, of 11.3 percent, would go to the bottom 10 percent, thanks to a temporary expansion of the child tax credit, according to AEI.

The analysis finds that starting in 2030, the Biden plan would impose “modest” tax hikes on the bottom 95 percent of earners, which it attributes to higher taxes on businesses. That would appear to violate Biden’s pledge not to raise taxes on anyone earning less than $400,000

Bombardier (OTCQX:BDRAF)(OTCQX:BDRBF)(OTC:BOMBF) continues to be in a fragile state. While the company will be able to deleverage its balance sheet by selling its rail transportation unit to Alstom for $8.4 billion next year and become solely a corporate jet manufacturer, we believe that its future still looks bleak. As the founding family continues to have the majority of the voting power in the company, there’s no guarantee that it will not fail to create value this time, considering that, under its leadership, Bombardier suffered immense losses by developing and later selling at a loss its own civil aviation project to Airbus (OTCPK:EADSF). In addition, by operating in a small and saturated business jet market, it will be hard for Bombardier to drive growth in the following years. For that reason, we continue to believe that there’s no value left in Bombardier stock and the opportunity cost of holding its shares is too high even at the current price.

Weak Growth Prospects Ahead

Bombardier’s stock declined by more than 20% since we published our latest article on the company in July, and there’s every reason that its share price will either decline even more in the following months or it will be trading at the current levels for a while. The reality is that Bombardier was struggling to create value for years, and it was able to survive for so long, mostly thanks to the help of the government of Quebec, which supported the business through various financial instruments and programs. After spending more than $6 billion on its commercial aviation project, the company sold its stake in the project to Airbus earlier this year for less than $600 million and was left with an overleveraged balance sheet. As a result, Bombardier had no other choice but to divest its interest

On this episode Of Scaling Up, March Capital managing partner, Jamie Montgomery and Forbes futurist Rich Karlgaard talk to Bill.com’s founder and CEO, René Lacerte. Bill.com is a fast-growing cloud software company that sells automated payment services for small and medium sized businesses. When we interviewed Lacerte, BILL was worth $8 billion in market cap; today it is $9.12 billion. We talked about fast growth leadership, mentorship secrets, and how Lacerte’s father was a pianist for the late Gram Parsons, even though Lacerte’s father was missing four fingers.

Click below for video.

MORE FROM FORBESPersonal Growth Needs To Be Every CEO’s Top Priority, Says Bill.com’s Rene Lacerte

The following transcript has been edited for clarity and length.

Rich Karlgaard:  René, what was your original mission, how was it progressed, and the fundamental question – why is what you do important to your customers?

René Lacerte:  We think of ourselves as champions for small and medium-sized businesses to help them automate the financial processes that around paying and getting paid. If you think about payables and receivables, people do not expect this number to be true but it is. Ninety percent of businesses still rely on paper to manage their processes and make their payments. If paper is a primary form of making the payment, it ends up being fairly inefficient, error-prone, and lots of challenges. It ends up being a mess. For us, I wanted to focus on solving that mess. I wanted to take care of that pain point and really make a difference for a small and mid-sized businesses. There are six million employers in the U.S. – that is the target market. We have 98,000 businesses today that are on our platform. They use us to interact with two and a half million network members

It’s been a volatile couple of months for most gold producers as the correction in the price of gold (GLD) has taken a bite out of many miners’ share prices. Great Panther Mining (NYSEMKT:GPL) is one of the names that has run into some selling pressure with the stock correcting 25% from its August highs. While this has likely left some investors that overpaid for the stock frustrated, the good news is that the stock just came off another solid quarter, with quarterly production of 39,800~ gold-equivalent ounces (GEOs). Given the higher metals prices and improved operations this year, we’ve seen analysts pull their earnings estimates higher, with FY2021 annual EPS estimates now sitting at $0.21. While I see more attractive producers elsewhere in the sector, I see Great Panther as a Speculative Buy at $0.72, given its very reasonable valuation.

(Source: Company Website)

Great Panther Mining released its preliminary Q3 production results last week and reported quarterly production of 39,800~ GEOs, a 3% increase from the 38,500~ GEOs produced last quarter. The company’s flagship Tucano Mine has now produced 93,400 ounces of gold year-to-date, and the mine remains on track to meet its FY2020 production guidance midpoint of 125,000 ounces. While the share price has been under pressure recently due to the sector-wide slump, it’s worth noting that Great Panther has only gotten more attractive as earnings estimates have continued to climb over the past two months. Based on current estimates of $0.21 for FY2021, the stock is trading at just below 5x FY2021 annual EPS estimates. Let’s take a closer look at the most recent quarter below:

(Source: Company News Release)

Beginning with the company’s Tucano Mine in Brazil, it was a relatively soft quarter, with gold production coming in at 31,800~ ounces vs. 35,400~ ounces