Author: completebodyneeds

This article is part of a sponsored series by Amwins. Private equity (PE) ownership reshapes the governance profile of a business, and with it, the directors & officers (D&O) risk. Mergers and acquisitions, debt financing and board appointments all increase the likelihood of claims, particularly when deals sour or minority shareholders feel disadvantaged. Here are key insights into the risks, pitfalls and opportunities in this evolving market and why wholesalers play a critical role in securing the right coverage. The unique risks of private equity ownership The unique structure and transactional nature of private equity deals create exposure patterns that…

A 51-year-old Connecticut man fell to his death from an upper deck of Madison Square Garden during a concert on Saturday night, police said. Officers responding to a 911 call around 9:51 p.m. found the man unconscious and unresponsive with injuries indicating a fall from an “elevated position,” New York City police said. Police did not say how far the man fell, but said he was in Section 300. They identified him as Paul Kueker of Niantic, Connecticut. The man was with his wife, according to police. He was taken to a hospital, where he was pronounced dead. Police do…

Tom and Diane Peterman tried to buy flood insurance when they moved to their retirement home on the shores of Black Lake 14 years ago but were told it wasn’t available. John Solum was told he wasn’t in a flood zone when his family bought a 1940s-era cabin there. Then came this spring’s historic and devastating floods across northern Michigan — in some areas, for the first time anyone can remember — swamping homes, pushing dams to the brink of failure and washing out roadways. Dozens of counties were under a state of emergency. Black Lake was so high that…

A former UPS mechanic plead guilty to workers’ compensation fraud following video evidence showing he was never injured in a reported incident. Derrick Hodge pled to felony insurance fraud and was sentenced to 90 days in jail, two years of probation and was ordered to pay $50,000 in restitution to Liberty Mutual Insurance. Hodge was a mechanic at a UPS facility in Grass Valley. In 2023, he claimed he was injured while walking out of a door at the facility when a “microwave-sized” chunk of ice fell from the roof and struck him on the back of his head and…

A former Idaho insurance agent pled guilty to insurance fraud for backdating a policy. Stetzen Bailey, of Heyburn, a former Farm Bureau Insurance agent, pled guilty to one felony count of insurance fraud. An investigation by the Idaho Department of Insurance’s Fraud Unit reportedly found that Bailey knowingly backdated an insurance policy on a 2018 Bombardier snowmobile belonging to a family member. At the time Bailey created the policy, the snowmobile had already been damaged in a collision, according to the DOI. The department said the Farm Bureau Insurance paid out more than $7,000 before the fraud was uncovered. Bailey…

The Federal Emergency Management Agency released federal funding for hazard mitigation projects in California to address flood, earthquake and wildfire risks. Congress authorized the projects through the Fiscal Year 2026 Homeland Security and Further Additional Continuing Appropriations Act. Funding was made available through FEMA’s Pre-Disaster Mitigation grant program. Fourth states and one Tribal Nation are expected to receive more than $189 million in federal funding for 125 projects. California projects include: $1.6 million for a fire risk reduction project in Chino Hills. $1.1 million for a pump station replacement in Brisbane. $1.1 million for a power resiliency project in Camarillo.…

Aviva, the UK-based insurer, announced it will rebrand Probitas 1492 as “Aviva Syndicates” marking a significant milestone in the integration of its Lloyd’s platform into Aviva’s Global Corporate & Specialty (GCS) business. The rebrand will see the syndicate operate fully under the Aviva brand from the end of September, when brokers and clients will see the “Aviva Syndicates” name and branding across communications, systems and market interactions, the insurer said. Since acquiring Probitas in 2024, Aviva’s strategy has been to build a market-leading dual-stamp specialty business operating under a single brand. Aviva has also expanded its Lloyd’s offering, launching eight…

Is this the future of home insurance in disaster-prone areas: The carrier coordinates the home-hardening work, from connecting homeowners with contractors to installing sensors, and maybe even financing the cost of the mitigation? “That’s our belief and that’s why we started the company,” said Dan Preston, CEO of the startup known as Stand Insurance Exchange. The reciprocal launched last week in the Florida market with a tweak to the standard business model and a nod to the growing recognition that more storm-resistant homes may be the best way to limit claims and premiums. Preston, the former head of tech-heavy Metromile…

Britain’s competition tribunal has approved a £3 billion ($4 billion) lawsuit against Apple over its iCloud storage service, consumer group Which? said on Tuesday, clearing the way for tens of millions of consumers to join a collective action. The Competition Appeal Tribunal granted earlier in June a collective proceedings order allowing Which? to represent Apple users, after rejecting an attempt by the U.S. tech giant to block parts of the case. Which? filed the claim in November 2024 and argues Apple abused a dominant position by “trapping” users of iPhones and other devices into its iCloud storage service, limiting their…

The insurance industry is set to face significant claims for ships that were damaged during the Iran war, according to Allianz SE. The company said in its annual safety and shipping review that it had already received such claims stemming from the conflict, some of which could include total losses of vessels. The report didn’t give a value of the potential hit, though it estimated that vessels and cargo with a combined value of $125 billion were trapped in the Persian Gulf as of June 15. Insurance premiums in the niche corner of the insurance market that protects vessels against…