Author: completebodyneeds

This article is part of a sponsored series by Vertafore. The MGA market has evolved at a remarkable pace, outpacing the broader P&C insurance market in some years due to specialization and the need for niche expertise. At the same time, growth is bringing on complexity: carrier expectations are rising, competition is intensifying, and emerging technologies and AI are reshaping how work gets done. MGA leaders are facing strategic tradeoffs between equally important priorities. But the most successful MGAs are finding ways to handle competing forces. 1. Growth vs. operational efficiency Growth remains a priority for many MGAs, whether through…

As Europe comes to grips with its fifth heat wave this year, the research arm of Swiss Re AG is warning of far-reaching consequences that may not yet be fully understood. Though Europe’s wildfire risk “is still considered moderate, the increase in fire activity warrants closer attention,” Swiss Re Institute said on Tuesday. “As heat in Europe increases, wildfire-conducive conditions are likely to become more frequent.” Fueled by extreme heat, wildfires in France, Spain and Greece have caused as much as €19.1 billion ($22 billion) in total damage and economic loss this summer, according to a preliminary estimate by AccuWeather.…

Leaking crude oil from a tanker grounded off a nature reserve in Oman has created a slick covering almost 400 square kilometers, the country’s government said on Monday. The Caroline Bezengi is loaded with close to one million barrels of Russian oil bound for Asia and first reported difficulties on June 8 off Yemen, with two maritime security sources saying initial assessments indicated a blast had occurred onboard. No party has taken responsibility for attacking the vessel. Oman, in its first public disclosure on the environmental impact, said on Monday it was seeking to tackle the oil leak near the…

Growth in e-scooter use in Germany is powering ahead thanks to private demand rather than the rental fleets that first drove their popularity, as operators like Lime and Bolt grapple with increasingly unfavorable business conditions. Last year, more than 80% of e-scooters in Europe’s biggest economy were privately owned, according to data published Monday by the GDV German Insurance Association. The number of rental scooters declined by about 10% last year, while the fleet of privately owned units surged again and has almost tripled in size over the past four years. A combination of rising costs for riders, increasing incidents…

A sophisticated scam targeting Spanish-speaking injured workers is ongoing in Oregon, authorities are warning. The Oregon Department of Consumer and Business Services is warning people the scam targeting Spanish-speaking injured workers in Oregon and around the country involves workers being contacted by phone, email, social media apps or video calls. Scammers attempt to convince workers to appear at an online workers’ compensation hearing, which at times results in an official-appearing order in their favor. Workers are then told they must pay money to receive the workers’ comp benefits or settlement money. These communications can appear official, and hearings may include…

A Delaware judge ordered data analytics firm Verisk to try completing its planned $2.35 billion acquisition of roofing software maker AccuLynx, with the order coming more than seven months after Verisk said it pulled the plug on the deal. Here are details: Bonnie David, a Delaware Chancery Court judge, said Verisk’s termination of the deal was invalid “because its willful conduct caused the failure of a condition to closing.” In late December, Verisk had said its decision to terminate the deal followed a notification from the U.S. Federal Trade Commission that the agency had not completed its review of the…

Montana State Auditor James Brown suspended the insurance producer license of a bail bondsman accused of exploiting people under his supervision, including trading services for sex and allegedly taking possession of vehicle titles without proper documentation, authorization or timely return of titles after bond obligations were satisfied. Brown received a referral from the Montana Department of Justice alleging Laine Kendall Callahan was abusing his authority as a surety bail bond producer. The Office of the Commissioner of Securities and Insurance regulates bail bondsman as licensed insurance producers, and Brown opened an investigation. The investigation showed Callahan allegedly compelled a witness…

A man has been charged with negligently causing the death of a five-month-old infant and a 27-year-old woman, after the tour boat he was piloting with them aboard capsized in New York Harbor on August 8. Federal officials allege that Manuel Hernandez ignored federal regulations and maritime safety protocols in transporting paying customers on a commercial vessel without appropriate licenses, overcrowded the 10-person vessel with 14 people, and had no infant life vests onboard. Hernandez, of Manville, New Jersey, was charged with two counts of misconduct and neglect of a ship officer resulting in death, each of which carries a…

One farm worker died from heat exposure in 2020, resulting in a fine and citation from the U.S. Occupational Safety and Health Administration. Two years later, the employer failed to follow its remedial safety guidelines for heat exposure, failed to have a supervisor in the field, failed to have a buddy system in place for scorching hot days, and failed to provide relief to workers before another worker suffered debilitating injury from heat stroke. Yet that was not enough to overcome the exclusive remedy of North Carolina’s workers’ compensation statute, the state’s Court of Appeals decided in a case that…

A federal appeals court signaled that it might not allow a lawsuit brought by fishing industry businesses and trade groups against a California aquarium to proceed because of the case’s potential impact on free speech. The New England-based plaintiffs sued the Monterey Bay Aquarium for defamation after the aquarium’s Seafood Watch conservation program placed American and Canadian lobster on its do-not-eat “red list” in 2022. The Boston-based 1st U.S. Circuit Court of Appeals is deciding whether the lawsuit can go forward. One of the appellate judges, Judge Seth Aframe, said during oral arguments on July 27 that it doesn’t strike…