Author: completebodyneeds

U.S. missiles struck targets across Iran, reaching as far as its Caspian coast, on Friday after President Donald Trump vowed “major military punishment” for Tehran and its Houthi allies in Yemen for extending the Middle East war to a second major shipping chokepoint, the mouth of the Red Sea. Two weeks after the collapse of an interim truce meant to end the war, the Iranian armed forces responded by firing at U.S. bases in neighboring Arab countries and warning people there that they may strike non-military buildings used by U.S. personnel. The Iranian army said Trump’s threats only strengthened its…

The twin earthquakes that hit Venezuela last month may have caused $19.6 billion in physical damage to buildings and infrastructure, or about 18% of gross domestic product, according to a preliminary assessment by the World Bank. Almost half of the costs stem from damage to residential buildings, the Washington-based lender said in a report published Thursday, adding that La Guaira state and Distrito Capital that includes central Caracas account for around half of the total damage. The natural disaster, which struck June 24, has resulted in almost 5,400 deaths and 16,740 injured. The two powerful shocks hit north-central Venezuela within…

Safety Insurance Group Inc,, a property/casualty insurer in Massachusetts and New England, has agreed to be acquired by Spain’s Mapfre S.A. in an all-cash transaction valued at approximately $1.54 billion. Under the terms of the agreement, a subsidiary of Mapfre U.S.A. Corp. will merge with and into Safety, following which Safety will become a wholly-owned subsidiary of Mapfre U.S.A. Corp., and thus a sister company to Mapfre U.S.A. Corp’s other U.S. subsidiaries. Safety shareholders will receive $105 for each Safety common share in cash, which represents a substantial premium of 44% on Safety’s stock price as of July 23, 2026.…

Moscow warned that it is unsafe to navigate in its Black Sea waters after Ukraine has been ramping up attacks on Russia-linked ships in the area. The warning was addressed to all vessels in Russia’s exclusive economic zone in the Black Sea and cites potential threats from Ukraine’s unmanned aerial and marine vehicles, according to a weekly bulletin published on the website of the country’s Defense Ministry on July 22. The exclusive economic zone is a maritime area stretching up to 200 nautical miles from the coast. Russia’s EEZ in the Black Sea allows access to several national ports including…

Allianz SE agreed to buy HSBC Holdings Plc’s Singapore insurance unit for S$2.7 billion ($2.1 billion), marking a substantial expansion less than two years after another deal in the city-state fell apart. The two firms also agreed to enter a 15-year exclusive distribution partnership, allowing Allianz to provide insurance and other solutions to HSBC’s customers in Singapore, according to a statement released Friday. Bloomberg earlier reported that Allianz was the frontrunner to purchase the unit. The transaction comes after Allianz withdrew an offer to buy a majority stake in Income Insurance Ltd. for about S$2.2 billion in December 2024. At…

This article is part of a sponsored series by OIP Insurtech. New platform automates inspection reviews, bind audits, policy checking, and compliance workflows across carriers, MGAs, brokers, and syndicates. OIP Insurtech has launched Document Intelligence AI, an insurance workflow automation platform that transforms manual inspection reviews, bind audits, policy checking, and other document-driven compliance workflows into continuous AI-powered processes embedded within existing carrier, MGA, broker, and syndicate operations. Every day, policy teams manually review inspection reports, validate issued policies against quoted terms, reconcile underwriting requirements, and perform bind audits before policies are released. These workflows are critical to maintaining underwriting…

A judge rejected Zelle’s bid to dismiss a lawsuit by New York Attorney General Letitia James, who said the electronic payment platform’s refusal to adopt critical safety features enabled fraudsters to steal more than $1 billion from consumers. In a decision late Monday, Justice Phaedra Perry-Bond of a New York state court in Manhattan said James sufficiently alleged that Zelle’s parent Early Warning Services “prioritized accessibility, convenience, consumer adoption, and market dominance at the expense of consumer safety” in rushing the platform to market, despite objections from its banking partners. Early Warning Services is owned by seven large U.S. banks:…

PG&E Corp. reported a 7.6-gigawatt increase in its data center pipeline during the second quarter as the artificial intelligence build-out gains momentum. The California utility’s pipeline of proposed data center projects totaled 12.7 gigawatts at the end of June, up from 5.1 gigawatts in March, the company said Thursday in its latest earnings presentation. The surge underscores that the data-center boom won’t be limited to the states that have dominated AI infrastructure thus far, including Virginia and Texas. Related: PG&E Says Power Shutoffs Required in California on Wildfire Risk PG&E separates projects in the pipeline into different categories depending on…

All Peril severity reached an all-time high in 2025, rising 25.9% from a year earlier, a new report shows. LexisNexis Risk Solutions released its 2026 U.S. Home Trends Report, which looks at loss cost, claims frequency and severity. Related: Changes in Policy Language, Provisions Suppressing Claim Volume, Report Shows All Peril loss cost fell 4.4% and frequency decreased 23.8% from 2024 to 2025, the report shows. The report’s authors say it shows that insurers face rising severity, rising inflation-driven replacement costs and a reshaping loss patterns from shifting climate-driven catastrophes. Severity reached its highest level in seven years, increasing 93.2%…

Les Willis The Automobile Insurance Plans Service Office (AIPSO) appointed Executive Vice President Les Willis as president and CEO. Willis succeeds President and CEO Charles Kwolek, who is retiring after a 32-year career with the organization. Prior to joining AIPSO, Willis served as a member of AIPSO’s board of directors for 10 years (serving two terms as chair), and as vice president of operations for State Farm Mutual Automobile Insurance Co. He has more than 32 years of insurance industry experience and led multiple teams at State Farm working in both the United States and Canada. Willis joined State Farm…