Author: completebodyneeds

June 24, 2026 marks the fifth anniversary of the tragic collapse of Champlain Towers South in Surfside, Florida. Like many Floridians, I remember exactly where I was when I first heard the news. The loss of 98 lives was heartbreaking, and the event sent shockwaves throughout the condominium industry that continue to be felt today. As an insurance professional specializing exclusively in condominium and homeowners associations, I have witnessed firsthand how Surfside changed not only the way buildings are inspected and maintained, but also how insurers evaluate risk and how boards approach their fiduciary responsibilities. The Impact of Surfside on…

Investors in the ever-hotter AI stock rally must suddenly consider a risk with the potential to be even more damaging than high valuations and big spending: Politics getting in the way. The US administration’s move to block foreign nationals from accessing Anthropic PBC’s most advanced models over security fears was an unprecedented intervention in the affairs of a leading AI lab. In response, Anthropic disabled all access to the two models for everyone. Washington has for years policed the chips that train artificial intelligence, but its reach for models themselves is a wake-up call: The risk of government intervention is…

Uber Technologies’ board was sued on Monday by shareholders who accused management and directors of letting the ride-sharing company cut corners on compliance, leading to thousands of lawsuits from victims of sexual assault and harassment. In a complaint filed in San Francisco federal court, shareholders led by a Detroit pension fund said board members ignored repeated internal and external warnings about Uber’s alleged failure to address sexual abuse by drivers. Shareholders said oversight failures were also a factor in two lawsuits last year by the federal government. One accused Uber of routinely refusing to serve disabled passengers, including people with…

Falling Rhine water levels are choking fuel shipments to parts of western Europe as a heat wave grips the region, forcing barges to sail with less than half their normal loads. Earlier on Monday, barges carrying diesel through Kaub in Germany — a critical waypoint on the river — were limited to about 1,070 tons of cargo, according to Spotbarge data. That represents only about 45% of their full carrying capacity. The river is forecast to get even shallower by Friday. The measured water level will probably drop to 83cm (33 inches) in the morning, compared with today’s 107cm, according…

Euro Exchange Securities UK Ltd., a British payments company, handled at least £2 billion ($2.7 billion) for a small group of risky customers before regulators moved to seize the firm over fears it was facilitating money laundering. The firm told the Financial Conduct Authority in August that it had made more than 20,000 payments totaling £2.1 billion during the previous 12 months, according to court filings. Almost all of the value of those transactions were on behalf of just 14 clients that Euro Exchange Securities had assessed as posing a “high risk” of money laundering. The FCA forced Euro Exchange…

Gavin Spencer Gavin Spencer is the new head of specialty, North America at AIG. He is taking on this expanded role alongside his current responsibilities as head of marine, North America. AIG is headquartered in New York City. Spencer joined AIG in 2024 as head of marine, North America. He has over 25 years of experience across the marine, cargo and logistics insurance sectors in leadership roles spanning underwriting, claims, broking and surveying across multiple countries and international markets, including Lloyd’s of London, the Americas, Asia and EMEA. Prior to joining AIG, he held strategic leadership and underwriting positions at…

Carlyle Group Inc. is unveiling a new framework for portfolio risk so that asset values reflect the insurance implications associated with severe weather shocks. The $475 billion Washington-based firm says the current standard — whereby money managers are reactive rather than proactive — needs to be overhauled. “We want to flip the paradigm and de-risk it so that insurance continues to be available” to assets that are in the crosshairs, Steve Hatfield, co-head of global sustainability at Carlyle, said in an interview. But so far, there’s been “no consistent mechanism that allows insurers to recognize how asset hardening reduces risk.”…

After bypassing the April 1 deadline and engaging in weeks of debate and compromise, New York lawmakers finally agreed in late May on a $268.5 billion budget that includes auto insurance reforms championed by Gov. Kathy Hochul that are intended to reduce auto insurance costs for drivers and businesses. The auto insurance reforms target fraud, “runaway” litigation, legal loopholes, non-economic damages and enforcement gaps in an effort to lower insurance costs. They are key parts of a $268.5 billion budget for the 2026-2027 fiscal year that seeks to tackle rising insurance, energy, housing, childcare, education and other everyday costs for…

A 36-year-old Ohio man has been sentenced for computer fraud after causing more than $860,000 in losses, Acting U.S. Attorney John G.E. Marck announced. Maxwell Schultz, Columbus, Ohio, pleaded guilty Nov. 18, 2025. Senior U.S. District Judge Lee H. Rosenthal has now ordered him to serve 24 months in federal prison to be immediately followed by three years of supervised release. At the hearing, the court heard about the damage and sophistication of the attack and how Schultz used another employee’s account to mask his intrusion which led to the investigation of that account initially. In handing down the sentence,…

Iran lifted its effective blockade of Hormuz last week after agreeing to a 60-day ceasefire with the United States while talks for a final peace deal take place. However, Tehran’s Revolutionary Guards declared the strait shut once again on Saturday, in response to Israeli strikes in Lebanon, prompting a fall in sailings. Four LNG tankers controlled by Qatar headed into the Gulf and through the strait on Monday, while two supertankers, which can carry up to 4 million barrels of crude oil, crossed into the Gulf with one signaling its destination as the Iraqi port of Basra, according to ship…