Author: completebodyneeds

Insurers are seeing gains from artificial intelligence, but many are also exposing themselves to unnecessary risks, according to a new Grant Thornton report. The independent CPA firm’s 2026 AI Impact Survey Report found that 44% of insurance executives say governance or compliance challenges have contributed to AI project failure or underperformance. Only 24% are very confident they could pass an independent AI governance review in 90 days. “Without clear policies and tested controls, insurers are leaving their organizations open to risk with regulators and customers, fueling financial pressure that could ultimately erode product profitability,” Grant Thornton said. “Tested and provable…

Willis, a WTW business, has launched Merger Protect, a specialty insurance solution to help organizations manage the financial impact of U.S. antitrust regulatory review in mergers and acquisitions transactions. Merger Protect forms part of Willis’ broader transactional risk offering, designed to address evolving risks across the M&A landscape. Merger Protect is designed to reimburse defined costs incurred when a Hart-Scott-Rodino Act Second Request is issued by the U.S. Federal Trade Commission or Department of Justice and, where applicable, during a related enforcement action. The solution supports buyers, sellers and their advisors. Second Requests often require extensive data collection, document production…

Almost all of Europe experienced above-average heat in 2025, a year that broke records for wildfires, sea temperatures and heatwaves as climate change worsens, EU scientists and the World Meteorological Organization said on Wednesday. At least 95% of Europe experienced above-average temperatures, while wildfires burnt more than 1 million hectares of land – an area larger than Cyprus and the biggest annual total on record, the WMO and the EU’s Copernicus Climate Change Service said in their annual report on Europe’s climate. The findings set out how climate change is having increasingly severe consequences in Europe, at a time when…

Australia’s top prudential regulator said it will take action against companies that fail to adequately control cybersecurity threats, as concerns within the industry mount over Anthropic PBC’s latest AI model Mythos. The Australian Prudential Regulation Authority is finalizing a plan to supervise artificial intelligence risks, following a review of banks, insurers and retirement funds conducted late last year that identified several shortcomings. These include information security practices struggling to keep pace with AI threats and over-reliance on third party AI vendors, according to the regulator. “Where entities fail to adequately identify, manage or control AI risks in a manner proportionate…

Allstate Corp. first quarter 2026 net income applicable to common shareholders more than quadrupled compared with the same time a year ago, due to a large gain in underwriting income. Net income was $2.4 billion for Q1 versus $566 million for the first three months of 2025. Allstate’s Property-Liability business turned in a Q1 combined ratio of 82—more than 15 points better than Q1 2025. Catastrophe losses for the quarter were $1.2 billion compared with $2.2 billion, and underwriting income went from $360 million in 2025 to about $2.7 billion in 2026. “Market share of auto and homeowners insurance increased…

Three Brown University students injured in a shooting on the school’s Providence, Rhode Island campus last December have filed negligence lawsuits alleging that the Ivy League school ignored warnings about the shooter and failed to provide adequate security. Eleven people were struck by gunshots and two died as a result of the shooting that took place on December 13, 2025 in the Barus and Holley engineering building while students were preparing for examinations. The plaintiffs are not named in their lawsuits except as J. Doe. The J. Doe No. 1 complaint alleges that an insufficient number of security cameras, unrestricted…

A cyberattack that stole $4.8 million in taxpayer money has spurred a New Jersey suburb to issue short-term debt as officials try to recover the funds. Spotswood, located roughly 40 miles outside New York City, was targeted by hackers last year in a scheme that involved the criminals accessing a school district employee’s email account and spurring the borough to erroneously send local school tax funds to a hacker impersonating the board of education. “Both the Borough and the Board of Education were spoofed by a third party cyber criminal which resulted in both the Borough and Board of Education…

The Bucks County district attorney announced criminal charges against the owner and operator of Advanced Public Adjusters. Greg A. Micucci, of Bristol, is accused of misappropriating approximately $140,000 in insurance claim funds intended for nine victims and their contractors. The charges come following a four-month investigation into allegations of insurance fraud and theft that began after a Warminster resident reported that Micucci had failed to pay contractors for storm repairs, according to Bucks County District Attorney Joe Khan. According to the criminal complaint, Micucci’s firm represented homeowners in claims against major insurers, including Allstate, Travelers, Progressive, and State Farm. Criminal…

Todd Zeiter The Doctors Company made several leadership appointments to add its medical professional liability operations. Todd Zeiter has been promoted to chief underwriting officer. He has amassed an underwriting and reinsurance background and nearly three decades at The Doctors Company. He has held underwriting, insurance operations, and business leadership roles, and most recently served as senior vice president of national underwriting. Christian Groux Christian Groux has been promoted to interim Region III regional operating officer. He has more than 30 years of medical professional liability experience across underwriting, business development, and distribution leadership, and most recently served as vice…

A group of state attorneys general wrote to the US Securities and Exchange Commission and major credit-rating firms, raising concerns about the use of environmental, social and governance factors in downgrade decisions. The officials from 23 Republican-led states, which include Texas, Florida and Oklahoma, said Fitch Ratings, Moody’s Corp. and S&P Global Ratings have “undisclosed material conflicts of interest,” in part because they have pledged to a United Nations-backed organization to incorporate ESG into their analysis. Oklahoma Attorney General Gentner Drummond said Tuesday in a statement that credit-rating companies have taken action against states and municipalities based on “speculative ESG…