Author: completebodyneeds

WTW appointed Darrel Beaton as director of underwriting within the company’s Insurance Consulting and Technology (ICT) business. WTW’s ICT business is a global leader in P/C, life, and health insurance software and advisory services. Beaton Beaton joins WTW from Effectus Insurance, where he served as chief underwriting officer, leading underwriting strategy, product development, portfolio growth and profitability management across a broad range of commercial lines. Based in Austin, Texas, Beaton has over 30 years of experience in commercial underwriting, product development, portfolio management, program design and underwriting leadership. Parametrix Hires Stephens to lead US Cyber and Tech E&O Underwriting Stephens…

New York City restaurants are running out of ways to outrun inflation. CakeBurgers, an East Harlem eatery that serves hamburgers and cakes shaped like hamburgers, turned off its air conditioning — even as temperatures in the city this summer routinely soared into the 90s — after the gas and electric bill spiked to $1,400 a month. Frank Scotto, who owns several neighborhood bars between Chinatown and Midtown, saw his liability insurance premiums surge fivefold in four years at one of his establishments, to an annual $24,000. For years, Scotto prided himself on low prices and resisted raising them in spite…

Lawyers on both sides of the insurance aisle will soon be able to say they are “board-certified” in insurance coverage law, after the Florida Supreme Court approved the new certification last week. The court made only minor changes to a certification proposal submitted by the Florida Bar early this year. The plan takes effect Jan. 1, the Bar explained in a posting. To be certified in insurance coverage law, attorneys must have practiced for at least five years with at least 40% of their practice devoted to insurance work during that time. They also must complete at least 50 hours…

CVS Health has agreed to pay $315 million to resolve allegations that the pharmacy chain operator unlawfully filled medically unnecessary prescriptions for addictive opioid painkillers, the US Justice Department said on Oct. 13. The settlement resolves a case the department announced in 2024 that sought to hold CVS responsible for its role in dispensing massive quantities of dangerous drugs like opioids that were at the heart of a nationwide addiction epidemic. The lawsuit alleged that CVS since 2013 had illegally filled prescriptions for opioids and other narcotics in violation of the federal Controlled Substances Act and then sought payment from…

Anthropic said small AI models could be months away from self-replicating across internet-connected devices, raising the possibility of AI botnets spreading quickly, fighting takedown attempts and even breaking into data centers to turbocharge their growth. Last month, Anthropic CEO Dario Amodei first floated the idea that within the next year or even sooner, AI might be able to hijack “the entire internet” with “a persistent botnet,” a warning that raised eyebrows in the cybersecurity community. Botnets — vast networks of devices controlled by malicious operators – have been around since the early days of the internet, and are still around.…

The Hartford on Oct. 13 said it completed its buy of Equitable’s employee benefits business to bolster the insurer’s growth in the small and midsized employer segment. The move will bring in about $500 million in premium in non-medical benefits, as well as Equitable’s employee benefits technology. The acquisition was first announced in August. Terms of the deal were not disclosed. The acquired portfolio includes group life, disability, paid family and medical leave, supplemental health, as well as dental and vision coverage, plus about 300 employees. “As we integrate these capabilities, we remain focused on providing our existing customers and…

Edison International shares fell over 3% on Tuesday after short seller Muddy Waters said it had uncovered new information suggesting the utility acted with “conscious” or “willful” disregard in the Eaton Fire. Related: Southern California Edison Chief Warns Wildfire Impasse Risks Higher Customer Bills The investment firm said Edison could face at least $4 billion in fire-related damages, with potential liability reaching about $20 billion if a court determines the firm’s conduct amounted to willful misconduct. Here are more details: Muddy Waters said the utility’s Southern California Edison unit failed to fix deficiencies in a wildfire risk model despite allegedly…

A Las Vegas business owner pleaded guilty to arranging a fake armed robbery of his cellphone repair store to collect an insurance payout. Erwin Lanada, owner of CPR Cellphone Repair, pleaded guilty to one count of mail fraud. According to court documents, Lanada hired Marco Antonio Capistran on Oct. 25, 2023, to stage a robbery at his store, which repaired and sold cellphones and other electronic devices. Lanada provided Capistran with a revolver and promised to pay him for his participation. During the staged robbery on Oct. 26, Capistran pointed the revolver at Lanada, demanded electronic devices, parts and cash,…

Chicago-based RT Specialty and Ryan Alternative Risk, the wholesale brokerage and alternative risk divisions of Ryan Specialty, have expanded RT FLEX, a proprietary follow-line facility that gives RT Specialty brokers access to additional capacity across a broad range of specialty insurance products. Originally launched in 2025 to address excess casualty placements, RT FLEX has grown into a multi-line platform spanning three major product verticals: Property, Casualty, and Professional & Executive Liability. Current lines include Property, Builder’s Risk, Excess Casualty, Construction, Professional Liability, Directors & Officers Liability, Errors & Omissions Liability, Employment Practices Liability, Fiduciary Liability, and Medical Professional Liability. RT…

The Federal Aviation Administration told US airlines to exercise caution when flying to or over Saudi Arabia, citing safety threats tied to ongoing military activities and navigation system interference. The FAA Notice to Airmen, which lasts until December 10, follows strikes on Oct. 10 and Oct. 11 on Riyadh’s international airport. The attack on Saturday killed 13 people and wounded more than 300. “Threats could pose a potential risk to aircraft at all altitudes, including overflight, the arrival, and departure phases of flight,” the FAA said, warning of the “potentially hazardous situation.” The notice also applies to operators of airplanes…