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American Integrity sets IPO terms as homeowners policies surge in Florida
Last year, TWFG Insurance, a Texas-based insurance broker, made a strong market debut. Priced at $17 per share, the IPO exceeded expectations, closing at $22.10 on its first trading day – a surge of over 30%. The company raised approximately $170 million, which is earmarked for debt repayment, potential acquisitions, and general corporate purposes. Source…

Judge dismisses ERISA class action over Wells Fargo’s prescription drug benefit practices
The plaintiffs—Sergio Navarro, Theresa Gamage, Dayle Bulla, and Jane Kinsella—are former Wells Fargo employees and former participants in the Wells Fargo & Company Health Plan (“the Plan”), a self-funded employee welfare benefit plan governed by ERISA. They sued on behalf of themselves, other similarly situated participants, and the Plan itself. Source link

Mercury Insurance unveils personal umbrella policy
For example, if someone with a homeowners policy liability limit of $300,000 is found responsible for $1 million in damages due to an accident on their property, their homeowners’ policy might cover part of the damages, but the remaining $700,000 could fall on the policyholder unless umbrella coverage is in place. Mercury’s umbrella insurance helps…