Author: completebodyneeds

National Former AIG CEO and executive chair Peter Zaffino left the board effective September 15 to join Palantir Technologies Inc. as global head of financial services. Zaffino had just transitioned to the position of executive chair on June 1. Prior …

E-bike Regulation “As these high-powered devices become faster and more common on our streets and sidewalks, the stakes are simply too high to leave them unregulated and outpacing public safety.” — Illinois Secretary of State Alexi Giannoulias, discussing Illinois Senate …

By Andrew G. Simpson A federal judge has declined to approve a class action lawsuit accusing GEICO of underpaying losses for totaled vehicles in New Jersey. The court declined to approve the class action after concluding that individual issues outweighed the commonality of the proposed class. The purported class action sought to challenge GEICO’s use of a factor, also used by other insurers, that adjusts the actual cash value (ACV) of a vehicle to account for the condition of the vehicle based on factors such as options and mileage, or as otherwise explained “to bring the ACV from retail to…

What’s next for the evolving landscape of agency networks? Could there be opportunities to expand into the world of underwriting given the vast amount of data networks analyze for their agency members and carrier partners? SIAA’s CEO Matt Masiello sees potential. “The growing MGA space is definitely interesting to think about,” he said. “We always viewed it as market access to E&S product and specialty capabilities for our member agencies…and we still look at it through that lens.” However, given the diverse array of services that agency networks now provide to agencies, carriers, and wholesalers partners, adding MGA capabilities to…

Midtown Manhattan, the very heart of New York City, has recently been the center of attention for all the wrong reasons. As one of Gotham’s largest office-to-residential construction conversion projects, the former world headquarters of Pfizer Pharmaceuticals was found to be dangerously unstable, shutting down traffic and interrupting business along one of the nation’s busiest commercial corridors. The fallout from this event will likely not be limited to a single developer, contractor, or project. Rather, the impact will presumably reverberate throughout the industry responsible for underwriting the risks associated with this major economic activity. Insurers must now absorb and digest…

By L.S. Howard The insurance industry should be prepared to withstand $171 billion in insured catastrophe losses on average in a given year, up $19 billion from a year ago, according to Verisk. In its highest annual estimate reported to date, the data analytics and technology provider said the industry’s loss benchmark increased despite the fact that the U.S. in 2025 had no hurricane landfalls for the first time in a decade. The rise reflects continued growth in property values and insured values worldwide, Verisk added. “A quiet hurricane season can lead markets to respond as if risk has eased:…

By Jim Vertuno A Texas court last month slashed a $50 million judgment that conspiracy theorist Alex Jones was ordered to pay families of the 2012 Sandy Hook Elementary School massacre over his false claims that one of the deadliest mass shootings in U.S. history was a hoax. The Infowars founder can only be forced to pay about $6 million, the Texas Third Court of Appeals ruled in a unanimous opinion, citing state laws that limit lawsuit damages. The ruling does not affect a separate $1.25 billion judgment against Jones in Connecticut, where he was also found liable for defaming…

American Airlines will pay $200,000 to settle a disability discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’S lawsuit, American Airlines failed to provide a reasonable accommodation to an employee at its Fort Worth location after she developed cortical blindness. The lawsuit alleged that the employee requested to use screen reader software to convert text and other information on computers into synthesized speech as a reasonable accommodation, which would allow her to use the company’s computer systems to perform her job duties. Alternatively, the employee requested to be transferred to…

This article is part of a sponsored series by Amwins. Historically, Warehouse Legal Liability (WHLL) has been a complicated line with many gray areas and multiple interpretations of its coverages. Over the course of the recent soft market, WHLL strayed away from its original intent. With the re-emergence of a healthier market environment, it can go back to its roots: to cover the legal responsibility of an individual or organization providing warehousing and handling services. In one sense, it is the non-transit (or static) relative of cargo legal liability, but in another sense, it is a totally different animal. Warehouse…

Heat will continue to sear the Great Plains and central Mississippi Valley this weekend, as well as pushing into Texas, Oklahoma and even the eastern US, prompting the nation’s largest grid operator to call on customers to conserve energy. Dallas Fort Worth International Airport is forecast to reach 100F (37.8C) Friday, after tying a daily record of 99F on Thursday. That was 11F warmer than normal, the US Weather Prediction Center said. In addition to testing daily highs in 82 places, overnight low temperatures are expected to be near or at record warm levels at 122 sites around the US…