Author: completebodyneeds

Safepoint Holdings Inc., an underwriter of specialty homeowners and commercial insurance, and some of its backers are seeking to raise as much as $283.3 million in an US initial public offering. The Tampa, Florida-based firm plans to market 6.24 million shares for $15 to $17 each, while the selling shareholders are offering 10.42 million shares, according to its filing Tuesday with the US Securities and Exchange Commission. At the top of that range, it would have a market value of $1.16 billion based on the outstanding shares listed in its filing. The IPO is expected to price on June 3,…

Insurance Journal’s Risky Future series is hosting the “AI Tools for Embedded Insurance Platforms” Demo Day, a series of free AI tool demonstrations designed exclusively for (re)insurers, MGAs/Program Administrators, marketplaces, and other tech and distribution platforms. This event focuses on distribution innovation, highlighting platforms that enable insurance to be seamlessly embedded into non-insurance experiences. Demos will showcase APIs, partner ecosystems, point of sale examples, and real-time quoting and binding. In partnership with Insurance Journal, Risky Future’s AI Tools for Homeowners Data Demo Day will be held on Wednesday, May 13. Beginning at 1pm ET, AI technology experts will present and…

A North Carolina jury handed down what may have been the largest personal injury award in state history, five years after a retaining wall collapsed on workers, killing one and injuring four others. The lawsuit in Henderson County, near Asheville, was settled for an undisclosed amount shortly after the verdict was revealed last week, local news sites reported. But if the jury award—$45 million each for two block masons injured in the collapse—had stood, it would be considered the largest injury verdict on record, BlueRidgeNow and the Hendersonville Lightning news publications noted. The jury also included $11 million for loss…

The US government has joined the line of creditors impacted by alleged fraud at bankrupt autoparts maker First Brands, in this instance for accusations the company cheated on how much it should have paid on tariffs. First Brands was hit with a formal claim for $285.5 million related to allegations that it underpaid levies on parts imported from China. The figure includes a demand for penalties as well as the unpaid tariffs. That claim, which has not been previously reported, adds to the $11.8 billion in debts the company cannot fully repay. To pay creditors at least some of their…

The U.S. Supreme Court declined on Tuesday to hear a bid by Meta Platforms to avoid a lawsuit brought by Vermont’s attorney general accusing the company of designing its Instagram social media app to be addictive to young users, as big technology companies face mounting legal risks over child and teen safety. The justices turned away Meta’s appeal of a lower court’s ruling that let the lawsuit proceed, rejecting the company’s argument that courts in Vermont lack jurisdiction over the dispute. The case is part of a wave of litigation by individuals, municipalities, states and school districts nationwide amid a…

There is no longer a risk of a compromised chemical tank exploding in the suburbs of Los Angeles and evacuation orders for some of the more than 50,000 people were lifted, according to the Orange County Fire Authority. The county’s fire department has worked since Friday to contain a chemical tank at a GKN Aerospace plant in Garden Grove, about 35 miles southeast of Los Angeles, after it overheated and leaked. Officials at the site have warned throughout the weekend that the tank could explode or leak toxic substances. On Monday, the Orange County Fire Authority interim chief said the…

In litigation between competitors in the insurance technology market, a preliminary injunction was again denied to Comulate, which stands accused by Applied Systems of misappropriating trade secrets. Comulate had asked a federal judge in U.S. District Court for the Northern District of Illinois to reconsider an earlier denial of an injunction against Applied. “The fallout to Comulate’s business, ultimately, at least for now, looks to me to be a product of Comulate and [CEO Jordan] Katz’s own misdeeds, such that, on balance, a preliminary injunction in Comulate’s favor would be contrary to the equities here,” ruled Judge Manish H. Shah…

Workers’ compensation specialist Beacon Mutual Insurance Co. reports it has begun mailing letters to individuals whose personal information was involved in a recent ransomware attack. Upon learning of the activity on January 14, 2026, the Rhode Island-based insurer said it took action to contain it and began an investigation that determined that an unauthorized person gained access to some of Beacon Mutual’s systems between January 7 and January 14, 2026, and acquired copies of certain data files. The insurer said it found that one or more of the breached files contained the first name or first initial and last name…

OpenAI CEO Sam Altman said on Tuesday the rapid development and adoption of AI would not lead to a global “jobs apocalypse” and the technology had not claimed as many white-collar jobs as he had feared. Speaking virtually at a Commonwealth Bank of Australia (CBA) conference in Sydney, Altman said he was initially concerned about the impact AI would have on global employment levels. He said he and his executives had been “roughly right” on the technological predictions made by OpenAI when it launched ChatGPT in 2022. But he said they were “pretty wrong” on the social and economic implications.…

The Fidelis Partnership (TFP) announced a partnership with Howden as part of a new capability in TFP’s underwriting platform, designed to deliver a step change in the automation and streamlining of the pre-bind submission process for complex risks. Through automated ingestion of broker submissions, the new TFP capability — called “Broker Connect” — is intended to significantly enhance the speed and quality of information flows between brokers and underwriters, enabling faster and more accurate underwriting decisions. The platform aims to enhance accuracy and data quality across TFP’s underwriting, operations and claims functions, ensuring data flows smoothly post-bind and eliminating the…