Author: completebodyneeds

The US is doubling down on its efforts to quash European environmental and human rights rules it says unfairly impact American companies. The Trump administration “will take any actions necessary to address unreasonable burdens on US commerce” if the European Union doesn’t rein in its ESG regulations, according to a letter addressed to the EU by the US government. The comments were accompanied by a post on X by US ambassador to the EU, Andrew Puzder, who said “it’s time for the EU to deliver” on what he described as an earlier commitment by the bloc to ensure American companies…

Epic Systems, a healthcare database company that holds the medical records of hundreds of millions of Americans, is facing an antitrust investigation by the U.S. Federal Trade Commission, two sources familiar with the matter told Reuters. Epic runs the patient web portal MyChart along with other electronic health record systems. Its products are used by healthcare providers that collectively treat more than 280 million people in the U.S., according to the company’s website. The FTC has sent investigative demands to others in the health technology industry seeking information about how Verona, Wisconsin-based Epic grants or withholds data access, the sources…

By Andrew G. Simpson Insurance companies cannot invoke “overriding public policy” in order to refuse to defend insured hotel owners and managers accused of enabling and profiting off of sex trafficking of minors, even though the state has criminalized such trafficking. “[N]either an insurer’s duty to defend nor its duty to indemnify is abrogated on the basis of public policy when the insured is alleged to have enabled or profited from sex trafficking,” the Pennsylvania Supreme Court declared last month. The state Supreme Court said that insurers could have created exclusions in their insurance policies for such behavior but did…

Declarations

By L.S. Howard Global commercial insurance rates dropped by 6%, on average, in the second quarter of 2026, following a 5% decline in Q1 2026, according to Marsh’s latest Global Insurance Market Index (GIMI). Property rates declined by 12% in the second quarter, while casualty rates increased 2%, driven largely by ongoing claims severity and litigation pressures in the U.S. (Editor’s note: Marsh’s Global Insurance Market Index skews toward larger account business.) Marsh said that Q2 2026 marks the eighth consecutive quarter of rate decreases, fueled by abundant capacity, strong insurer profitability, a surplus of capital, favorable reinsurance conditions, and…

He almost became a doctor. But he decided at the last minute to buy an insurance agency in south Florida. A half-century later, Tom Lynch, the semi-retired chairman emeritus of Plastridge Insurance agency, sat down with Insurance Journal and reflected on the ups and downs of the state’s property-casualty insurance market, changes at agencies, and his advice for others in the business. IJ: You’ve certainly seen a lot of shifts in the Florida insurance market through the years. What’s the biggest change you’ve seen in your career? The biggest change that everyone is worried about now is AI (artificial intelligence).…

By Ezra Amacher State Farm Mutual Auto will soon begin issuing $136 million in dividends to Louisiana drivers. The carrier informed the Louisiana Department of Insurance that eligible customers will receive an email between early August and early September asking them to select a payment method. Dividends apply to customers who had a State Farm private passenger auto voluntary preferred policy in force as of Dec. 31, 2025. Customers who don’t have an email address on file will receive a check in the mail. Customers with more than one vehicle insured by State Farm may receive more than one dividend…

By Gavin Maguire For years, wildfire season was largely viewed as a threat to homes, forests and utility infrastructure in the American West. But as smoke from fires blankets large swaths of the country, it is becoming something else too: a power-sector challenge. That’s because the U.S. grid is changing. Solar generation is now the country’s fastest-growing electricity source, transmission networks need to move more power over longer distances, and grid operators need accurate weather forecasts to balance supply and demand. Wildfire smoke interferes with all three. While smoke is unlikely to derail America’s renewable-energy expansion, it is emerging as…

California workers’ compensation premium growth leveled off as rates stabilize, but rising cumulative trauma claims continue to drive claim frequency higher, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its 2026 State of the System report. The report examins premium levels, claim activity, system costs and market conditions. Average charged rates reached the lowest level in more than 50 years in 2025 but are plateauing, according to the report. In 2025, advisory pure premium rates increased for the first time in a decade, with a further 6.6% increase approved effective September 1, 2026, the WCIRB…

I have been doing a fair amount of work regarding the expansion of MGAs, particularly the new kind of MGAs, which have much in common with some reciprocals, risk retention groups, and captives. Then I read an AM Best article that covered Evan Greenberg’s (Chubb’s CEO) thoughts on MGAs. He stated that he thinks MGAs are being severely overused. In his report to shareholders, the Best article quoted the following: “As agents, they don’t retain underwriting risk. Instead, for a commission, they bind others–insurers, reinsurers, hedge funds, private equity–to risk gathered from retail and wholesale brokers who generally do business…