Author: completebodyneeds

The flood insurance gap in the United States is big and it’s not getting better. And the consequences of that gap are about to worsen for property owners and state and local governments, thanks to increasing rainfall amounts, stronger storm surge, more development in flood zones, cutbacks in federal aid, and aging river levees around the country. That was the word from Moody’s Rating analysts who delved into the realities at a webinar Thursday. “When flood losses happen and they are not absorbed by the shock absorber of insurance, they don’t disappear,” said Firas Saleh, director of insurance solutions and…

President Donald Trump this week credited his tough immigration policies for a drop in car insurance premiums, falsely blaming illegal immigration during his predecessor’s time in the White House for a prior increase. In a Monday post on Truth Social, Trump shared a graphic showing the year-over-year change in premiums from 2021 to 2026. It rises sharply from 2021 to 2023 and begins dropping in 2024, culminating with negative growth so far in 2026. The graphic cites a Council of Economic Advisers’ analysis of data from the Bureau of Labor Statistics. “Car Insurance Premiums rose to RECORD HIGHS, forcing Law-abiding…

Luigi Mangione’s lawyers withdrew a plan for a psychiatric defense at his upcoming state murder trial in the shooting death of a UnitedHealth Group Inc. executive. In a letter to New York state Judge Gregory Carro on Thursday, the defense team said they will withdraw the psychiatric defense. A day earlier, at a hearing in Manhattan, Carro said Mangione’s defense would seek to show he suffered from an extreme emotional disturbance. Mangione is accused of fatally shooting Brian Thompson outside a midtown hotel in December 2024. He’s pleaded not guilty. Mangione’s lawyers had notified the judge last September they would…

The level of investment into data centers globally may soon make it necessary for insurers involved to begin selling securitization products to spread the risk among a broader pool of investors, according to Zurich Insurance Group AG. “I do anticipate with the number of these projects being built at those values, that those types of discussions are going to become more and more necessary,” Kelly Kinzer, Zurich’s global head of construction and surety told Bloomberg, even though the market is “not there today.” Lenders across private and public markets have been lining up to invest into the build out of…

An old oil well sprang back to life under the parking lot of the First Baptist Church of Grandfalls in April. Over the next eight days, more than 1.5 million gallons of toxic wastewater flowed out of the earth, according to state records. The state regulator, the Railroad Commission, spent $1.49 million plugging the leak and another $1.16 million disposing of the wastewater back underground. By early June, crews had stopped the flow and plugged the wellbore. Wastewater, fortunately, did not enter the church. The imminent threat passed. But questions linger for the church’s pastor and Permian Basin residents. Why…

Sunstar Insurance Group announced the appointment of Brad Hearst as executive vice president, national growth and sales strategy. Hearst brings extensive insurance-industry leadership experience in driving organic growth, developing high-performing sales organizations and building disciplined sales processes that deliver measurable results across diverse markets. In his role at Sunstar, Hearst will provide strategic direction for the firm’s national growth initiatives, encompassing producer development, sales strategy, performance management and practice group alignment. He will work closely with Sunstar’s regional directors, hub leaders and executive team to strengthen the company’s sales culture, improve platform consistency and accelerate organic growth. Hearst will also…

Researchers say a sweeping hacking campaign targeting devices made by Fortinet has led to compromises across the internet, with evidence of password theft at Fortune 500 companies and government agencies in more than 15 countries. Most of the affected devices were in the United States, India, and Taiwan, according to Hudson Rock, a firm that tracks cybercrime. Hudson Rock described the scale of the spy campaign as “staggering.” “The scale of this breach touches nearly every sector of the global economy, sparing no industry,” it said in a blog post published on Wednesday. The firm said that some 75,000 Fortinet…

Global insurance broker World Insurance Associates reported that it recently bought the business of Wolpert Insurance Agency of Worcester, Massachusetts. Terms of the October 1, 2025 transaction were not disclosed. Wolpert was established in 1956. It is known for its transportation specialty including trucking and transportation insurance, limousine insurance, and bobtail insurance. It also sells personal and commercial lines insurance throughout Massachusetts and Rhode Island. Mike Wolpert and Robert Mucci are principals of the agency. “We strive to develop solid relationships with our customers, and we believe this is one of the fundamental reasons many of our clients stay with…

California homeowners pay 41% below the national average for homeowners insurance, a study from LendingTree shows. LendingTree’s State of Home Insurance: 2026 report, which is based on rates publicly sourced from insurer filings, shows California homeowners paid an average of $1,413 annually for home insurance compared with the national average of $2,395. However, homeowners insurance rates in California have risen 53.7% since 2020, the report shows. Related: Zurich Files Growth Plan Under California Sustainable Insurance Strategy Colorado had the largest cumulative increase in home insurance rates, with costs rising 100.8% from 2020 to 2025. That’s more than double the rise…

Fortegra Group, the Jacksonville-based parent company of specialty insurers, named Anthony Katz, a longtime actuary, as senior vice president for reserving. Rattner Katz will lead Fortegra’s team of actuaries, overseeing reserving, credit insurance, statistical reporting and compliance with the new IFRS 17 accounting standard, the company said. The International Financial Reporting Standards Foundation developed the rule to standardize how insurers measure and disclose obligations, replacing a patchwork of state-based accounting measures. Katz has 30 years of experience in the actuarial space, including time with ToaRe, EverestRe, Arch Insurance, Ernst & Young and ACE. He recently has been a consulting actuary.…