Underwriter Reinsurance Company Ordered to Stop Offering Insurance to Oklahomans

Insurance Commissioner Kim Holland today barred Underwriter Reinsurance Co., also known as The Underwriter Group, from selling unlicensed, unauthorized insurance to Oklahomans.

Holland issued the cease and desist order after an Oklahoma Insurance Department investigation showed that The Underwriter Group, headed by Dr. Larry Wright and M. Shane Dickens, provided an unauthorized business performance bond to an Oklahoma entity seeking to secure a bank loan.

After the entity defaulted on the loan, the bank attempted to collect from The Underwriter Group. Subsequent litigation exposed the company as an unauthorized insurer.

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