Author: completebodyneeds

It’s becoming clearer by the day that Brightline, the struggling Florida private railroad, is shaping up to rank among the biggest municipal-bond restructurings ever, alongside the likes of Puerto Rico and Detroit. But that’s where any clarity around the future of billionaire Wes Edens’ $6 billion passion project ends. The Fortress Investment Group-backed railroad’s complex debt structure — a mix of municipal and corporate notes issued by four subsidiaries — is among the biggest challenges, as are the pack of firms jockeying for position in any workout scenario. Invesco Ltd. and Nuveen LLC, giants in the world of tax-exempt securities,…

U.S. workers’ compensation net written premium decreased 0.2% in 2025, according to the National Council on Compensation Insurance (NCCI). NCCI reported that while the calendar year 2025 combined ratio for workers’ compensation is 91 (compared with 86 the prior year), the workers’ comp accident year 2025 combined ratio is 102 with prior years continuing to experience downward reserve development. The annual State of the Line Report analyzed U.S. private workers’ comp carrier data from the 38 states served by NCCI. NCCI said that it’s the 12th consecutive year where the workers’ comp calendar year measured below 100, an indication of…

California Attorney General Rob Bonta is looking into what he says are reports of misleading ticketing practices for the 2026 FIFA World Cup that are potential violations of California law. Bonta sent a letter to FIFA raising concerns about ticketing practices asking for information. California consumer protections laws include prohibitions on marketing practices that are likely to mislead them. Recent reports raised concerns that FIFA sold tickets based on seating categories displayed on stadium maps and later altered those seating categorizations before assigning precise seat locations. The 2026 FIFA World Cup is scheduled to begin on June 11 and feature…

Indiana-headquartered Shepherd Insurance, ranked as one of the largest groups of independent agencies, has acquired Arnold Insurance in southwest Florida, the company announced. The partnership will keep the Arnold team in place while giving access to Shepherd’s broader carrier relationships and resources. Kyle Arnold is owner of the agency in Port Charlotte, near Fort Myers. The agency was founded in 2014. Shepherd, founded in 1977, now has seven Florida agency offices and 45 offices in six states, writing commercial and personal insurance, and offering employee benefits. Quinn Shepherd is CEO. Topics Mergers & Acquisitions Florida Was this article valuable? Yes…

Brookfield Corp. is merging its shares with those of its insurance business as the firm pushes ahead with plans to transform itself into an investment-led insurer. The merger of the parent company and the insurance business will improve Brookfield Corp.’s overall capital structure and give it access to the combined group’s asset base to pursue growth, Chief Executive Officer Bruce Flatt said in a letter accompanying its first-quarter earnings statement on Thursday. The asset manager’s distributable earnings before realizations rose to $1.4 billion in the first quarter, a 7% increase from the prior year, according to the statement. Profits from…

Workers at Denver airport missed a security breach by a man who scaled a perimeter fence and crossed a runway where he was hit and killed in a fiery collision by a plane with 231 people on board, authorities said Tuesday. The runway fatality underscores the longstanding challenge of keeping intruders out of major airports. Denver International Airport sprawls across 53 square miles—twice the size of Manhattan—on open prairie northeast of the city center. The 41-year-old trespasser triggered an alarm as he crossed into the airport in a remote area about 2 miles from the terminal late Friday night. But…

AM Best has downgraded the credit ratings of Massachusetts-based workers’ compensation carrier Arrow Mutual Liability Insurance Co. The ratings firm downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a-” (Excellent). AM Best revised the outlook of these credit ratings to stable from negative. AM Best said the rating downgrades reflect Arrow’s “persistent underwriting and operating losses, which have not demonstrated sustained improvement as the company has generated an underwriting gain in only one of the past 10 years.” Although Arrow reported favorable results in 2024, those results…

Richard Alexander Murdaugh, the disbarred South Carolina attorney found guilty in 2023 of murdering his wife and son, won his bid Wednesday to overturn his conviction and get a new trial over comments the county clerk made to jurors. The Colleton County clerk “egregiously attacked Murdaugh’s credibility and his defense, thus triggering the presumption of prejudice, which the State was unable to rebut,” the South Carolina Supreme Court said in a per curiam opinion. “Our justice system provides—indeed demands—that every person is entitled to a fair trial, which includes an impartial jury untainted by external forces bent on influencing the…

A pair of South Florida wildfires that torched thousands of acres in the Everglades over the weekend spread Monday as fire crews worked to contain them. The Florida Forest Service posted on Facebook that the growing fires were producing smoky conditions with reduced visibility, but containment operations were increasing. No serious injuries or property damage has been reported. The larger of the two fires has spread to about 5,600 acres (2,300 hectares) with 30% containment in the undeveloped area southwest of Fort Lauderdale, officials said. The National Guard is assisting state and local firefighters. Fire rescue crews were also fighting…

New York State is providing financial assistance to a captive insurer and taking other steps to advance this form of self-insurance as part of an effort to lower insurance costs for operators of affordable housing. The state has made a $2 million loan to Milford Street Association, an organization with an insurance captive that is owned and operated by members of the state’s affordable housing industry. The loan is from Empire State Development (ESD) to the Milford Street Association Insurance Co. Milford Street plans to use the $2 million loan to increase membership in the captive by covering a portion…