Insurance broker TWFG, backed by reinsurer RenaissanceRe, said on Tuesday it is aiming to raise as much as $176 million in its initial public offering in the United States. TWFG is offering 11 million shares at a price range of …
Leading carriers and managing general agents (MGAs) are increasingly seeking to assess their premium income via audits to ensure exposures are reported accurately, while tackling potential premium leakage and addressing possible non-compliance with state regulatory and rating bureau guidelines. How …
Marsh McLennan Agency said it has a definite agreement to buy Illinois-based brokerage The Horton Group, Inc. Terms were not disclosed. The deal is expected to close during the third quarter 2024. “We have been impressed by the Horton team …
Hurricane Beryl got the respected team of researchers at Colorado State University to rethink its forecast for the Atlantic hurricane season, which has already seen three named storms. CSU’s Department of Atmospheric Science now calls for an “extremely active” total …
Federal prosecutors want former Georgia Insurance Commissioner John Oxendine to serve 44 months in prison and pay $700,000 in restitution after his guilty plea to health care fraud conspiracy. But Oxendine is urging the judge to reduce the penalty. “Mr. …
At the same time it is settling a New York class action about underpaying totaled loss claims for $48 million, Progressive Insurance, in a separate case, has agreed to an $18.3 million settlement over allegations that its carriers failed to …
Due to a shock hazard, a California company is recalling nearly 1 million power adapters sold with sound machines marketed to help infants and young children sleep. The plastic surrounding the AC power adapter that was supplied with some of …
Houston is struggling through Hurricane Beryl’s chaotic aftermath, with blackouts, blocked roads, internet disruptions and spotty access to gas expected to linger well after the storm’s floodwaters recede. More than 1 million homes and businesses are likely to be without …
A Southern California wildfire that grew to be the biggest of the year is now at nearly 27,000 acres. The Lake Fire in Santa Barbara County erupted on Friday northeast of Los Olivos. An evacuation order was issued for an …
Michigan Department of Insurance and Financial Services (DIFS) Director Anita Fox released a new bulletin explicitly prohibiting insurers from discounting labor costs for depreciation when paying a homeowners insurance claim unless the insured has agreed in advance to the reduction …
