INSURANCE NEWS

Three Florida Men Charged with Insider Trading on Trump Media IPO

Three Florida men were arrested Thursday and charged with illegally making more than $22 million by insider trading ahead of the public announcement that an acquisition firm was going to take a media company owned by former President Donald Trump …
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Frustration After Former NFL QB, Nine Others Drown at Florida, Alabama Beaches

A firefighter from Georgia and two fathers who drowned while trying to save their children are among at least 10 recent victims of dangerous rip currents along Gulf of Mexico beaches stretching across Florida’s Panhandle to Mobile, Alabama. Many of …
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Senate Confirms Humphreys as Pennsylvania Insurance Chief

The Pennsylvania Senate this week unanimously confirmed Michael Humphreys to serve as the state’s insurance commissioner. Governor Josh Shapiro nominated Humphreys, who previously served as acting commissioner, to the top position at the Pennsylvania Insurance Department in January. Humphreys succeeded …
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Safety Concerns Dominate Norfolk Southern CEO’s Job Since Derailment

Norfolk Southern’s CEO has spoken often of safety and better service since he took the job over a year ago, but it’s safety that has dominated discussions after one of his trains derailed and caught fire in February in Ohio, …
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Kentucky Official Pleads Guilty to Crop Insurance Fraud

A central Kentucky farmer who is also a county official has changed his plea, admitting to charges of crop insurance fraud. Randall Taulbee, a Bourbon County magistrate, pleaded guilty to two counts of conspiracy to defraud the federal government’s crop …
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IIAT Names 2023-24 Board Members

The Independent Insurance Agents of Texas elected board members for the 2023-24 year at its annual business meeting in San Antonio on June 23, 2023. IIAT is the largest state association of independent insurance agents and professionals in the U.S. …
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Texas Insurance Agent and Former Elgin Mayor Pleads Guilty to Felony Theft Charge

A Texas insurance who previously served as mayor of Elgin pleaded guilty June 20 to theft of property, a third-degree felony. Christopher Cannon, 38, acquired payments from the company Baker’s Backhoe Services between January 2015 through August 2019 but failed …
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Definity’s McDougall Insurance Brokers to Acquire Canada’s Drayden Insurance

McDougall Insurance Brokers Ltd., the Belleville, Ontario-based subsidiary of Definity Financial Corp., announced it has entered into a definitive agreement to acquire 100% of Drayden Insurance Ltd. for C$208 million (US156.9 million), subject to closing and post-closing adjustments. The transaction …
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People Moves: Aon Promotes 4 in Global Reinsurance Clients Team; NFP Hires Perkins to Lead N. America Trade Credit & Political Risk Practice

This edition of International People Moves details appointments at brokers Aon and NFP. A summary of these new hires follows here. Aon Promotes 4 in Global Reinsurance Clients Team Insurance broker Aon plc announced a series of promotions in its …
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Michigan-Based Auto Quality Control Company Sued for Sex Discrimination and Retaliation

Formel D USA, Inc., an automotive quality control company with locations in Taylor, Michigan and Toledo, Ohio, violated federal law by maintaining a sexually hostile work environment at its Taylor location and retaliating against a female employee who complained of …
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Sexual Assault Laws Inspired by Larry Nassar’s Abuse are Signed by Michigan’s Governor

LANSING, Mich. (AP) – People who are sexually assaulted under the guise of medical treatment in Michigan will be further protected when coming forward, and their abusers will receive stricter punishments under legislation signed Thursday by Gov. Gretchen Whitmer. The …
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Report: US Lacks Comprehensive Cybercrime Data

The United States lacks comprehensive cybercrime data and monitoring – leaving the country less prepared to combat cybercrime, according to a June report by the United States Government Accountability office. Federal agencies included in the study noted that there is …
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