INSURANCE NEWS

Small Plane Crash Kills 3 Near Oklahoma City

YUKON, Okla. (AP). – A small plane crashed near Oklahoma City, killing all three people who were on board, authorities said Tuesday. The Beechcraft Bonanza F33A crashed at around 9:20 p.m. Monday near Clarence E. Page Airport in Yukon, the …
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UPC Latest Insurer to Leave Louisiana

Florida-based homeowners insurer United Property & Casualty Insurance Company (UPC) has announced it is leaving several states in 2023, including Louisiana where it has approximately 36,000 policyholders. UPC will begin non-renewing its policies in 2023, the Louisiana Department of Insurance …
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European Central Bank Urgently Seeks Regulation After Multiple Crypto Bubbles Burst

Crypto assets are here to stay so their regulation is urgently needed to protect investors and the stability of the global financial landscape, European Central Bank board member Fabio Panetta said on Wednesday. Crypto investors suffered a series of blows …
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New York’s Marenco Agency Joins Renaissance Network

Marenco Insurance Agency has joined the Renaissance independent insurance agency network in New York. The family-owned property/casualty agency, founded in 1961, is located in New Rochelle, New York. It also serves clients in Connecticut, New Jersey, and Florida. Renaissance offers …
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PCF Insurance Acquires Illinois F&I Firm Direct Dealer Services

PCF Insurance Services (PCF) has acquired Direct Dealer Services (DDS), an automotive finance and insurance (F&I) firm providing industry-leading technologies, products, solutions and training. Headquartered in Hoffman Estates, Illinois, DDS offers national automotive dealers, agents, and lender partners innovative F&I …
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TWFG Insurance Acquires Ohio’s American Insurance Strategies

The Woodlands Financial Group subsidiary TWFG Insurance Services LLC, announced its acquisition of American Insurance Strategies, located in the Dayton, Ohio and Milwaukee, Wisconsin areas. AIS has $18 million in written premium and was established in February 2009 by Craig …
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People Moves: SiriusPoint Appoints New International Leadership Team, Naming RSA’s Gibb as President; Hampden Agencies’ CEO Smith to Retire, Succeeded by Wood

SiriusPoint Appoints New International Leadership Team, Including RSA’s Gibb as President SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, has appointed Rob Gibbs as president of its international business and to CEO of SiriusPoint International Insurance Corp. The CEO appointment …
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Electrical Equipment Damaged in Carolina Shooting Attack Has Been Repaired

Duke Energy said Wednesday that it has completed repairs on substation equipment damaged when it was shot up last weekend. Power was on track to be fully restored late Wednesday. In a statement to customers on its website, the energy …
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Latest Twitter Lawsuit Says Company Targeted Women for Layoffs

Twitter Inc has been hit with another lawsuit stemming from the recent purging of half its workforce, this one accusing the social media company of disproportionately targeting female employees for layoffs. The proposed class action filed late on Wednesday in …
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Unlicensed Contractor, Deputy Sheriff in Florida Charged in Insurance Fraud Cases

An unlicensed contractor and a deputy sheriff in Florida have been charged in separate incidents of contracting fraud and insurance fraud, state and local authorities said. Ty Lamonte Hillman was arrested this week after the state Department of Financial Services …
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Florida Ratings Crisis: Fannie and Freddie Agree to Accept Citizens-as-Backstop Plan

It took more than four months, but Fannie Mae and Freddie Mac have now agreed to accept an innovative but temporary solution to Florida’s property insurer rating predicament. The mortgage-buying giants on Wednesday sent letters to primary mortgage lenders, notifying …
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Judge Dismisses 1,000 Shingles Vaccine Claims Against Merck for Lack of Evidence

After four years of multidistrict litigation, a federal judge in Pennsylvania has dismissed 1,189 lawsuits claiming the Zostavax shingles vaccine by drugmaker Merck did not do what it was supposed to do and instead caused them to suffer from shingles …
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