Author: completebodyneeds

The Great American Insurance Group is off the hook for a chunk of a grocery chain’s $1.4 billion settlement in opioid litigation, a North Carolina court found in a case that hinged on the wording of the settlement and the corporate structure of a parent firm and its subsidiaries. The North Carolina Business Court, a division of Superior Court that handles complex business litigation, agreed with lawyers for Great American and decided that the insurance group’s policies covered only those damages owed by Harris Teeter Supermarkets, a Carolina and Virginia-centered chain bought by The Kroger Co. in 2014. The 2024…

Over the last half-century as an insurance agency owner in south Florida, Tom Lynch has seen the ups and downs of the state’s property-casualty insurance market, from the rise of direct-to-consumer policies, to spiking premiums for homeowners and a statewide insurance crisis, to the flood of artificial intelligence in the industry. He’s also seen things from other perspectives—as a homeowner, mayor of Florida communities, and school board chairman. This summer, Lynch was recognized by the Florida Association of Insurance Agents with the group’s Mitchell Stallings Lifetime Achievement Award. The semi-retired chairman emeritus of Plastridge Insurance agency spoke with Insurance Journal…

While the residential solar market is collapsing nationwide after President Donald Trump ended a popular tax credit in December, one state is proving to be a surprising exception: Florida. A big reason why is a sweeping permitting law that took effect in the state last summer, experts said, with new rules aimed at making it both faster and cheaper to install new rooftop solar. Click to enlarge chart Florida installed more than 110 megawatts of home solar in the first three months of the year and BloombergNEF recently called it the fastest-growing state for residential solar in the country. And…

For almost eight years now, South Carolina bars, restaurants and music venues have faced a sobering situation brought on by a 2018 state law that requires at least $1 million in liquor liability coverage: Pay unaffordable premiums or shut their doors altogether. Multiple establishments, including some favorite watering holes and concert arenas across the state, have chosen the latter route and have closed down permanently. An investment manager-turned-insurance executive and a group of like-minded people in the hospitality industry believe they’ve finally come up with at least a partial solution: A captive insurance company that can provide coverage at one-third…

The AI boom and the risk of a correction are emerging as major global credit risks, ratings agency Fitch has warned, adding to growing concerns that soaring tech valuations and unprecedented AI spending may be running ahead of uncertain future returns. In its third-quarter Global Risk Outlook, Fitch said the credit backdrop remains dominated by two short-term risks: mounting vulnerability to an AI-related market correction and continued uncertainty linked to the U.S.-Iran conflict. The ratings agency echoed recent warnings from global watchdogs that the AI boom has become increasingly intertwined with economic growth and with capital markets, particularly in the…

As U.S. President Donald Trump intensifies his campaign against diversity programs, appointments of women and racial minorities to S&P 500 boards have dropped to their lowest level in more than a decade, threatening to unwind years of gains in corporate boardroom diversity. The shift is evident in new research by recruiting firms that study leadership diversity and Reuters interviews with more than a dozen boardroom recruiters, investors and human resource analysts. It follows a series of Trump administration actions targeting diversity, equity and inclusion initiatives known as DEI. Across corporate America, major investors who once pressed companies to diversify their…

A federal appeals court has revived a proposed class-action lawsuit accusing Chobani of deceiving consumers by falsely advertising some of its Greek-style yogurt as sugar free. The 7th U.S. Circuit Court of Appeals in Chicago ruled on July 27 that consumers can try to show Chobani violated state consumer protection laws because its Chobani Zero Sugar yogurt contained four grams per serving of allulose, a naturally occurring sweetener. The U.S. Food and Drug Administration regulates the contents of Nutrition Facts panels on product packaging, and says companies may not label food as “zero sugar” or “sugar free” unless it contains…

AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” (Good) of Standard Casualty Company, based in New Braunfels, Texas. The outlook of the FSR is stable. The Credit Ratings (ratings) reflect Standard Casualty’s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management (ERM). Additionally, the ratings recognize the synergistic advantages and financial support derived from the company’s relationship with its…

Betsey Milord Betsey Milord joined World Insurance Associates LLC (World), headquartered in Iselin, New Jersey, as chief broking officer. Milord will lead World’s broking organization. With more than 30 years of industry experience, Milord joins World after a decade at Marsh, where she led middle market placement operations at both the regional and national levels. Her career began as an agency owner in the Chicago suburbs before advancing into leadership roles overseeing small business, commercial lines and national placement strategies. Milord is based out of World’s Chicago, Illinois office. Was this article valuable? Yes No Here are more articles you…

A tornado that caused severe damage in northeastern Wisconsin on July 27 has been preliminarily ruled as an EF3, the National Weather Service said. The tornado stayed on the ground for more than 20 minutes, damaging homes and businesses in Neenah, Menasha and Appleton. There were no immediate reports of injuries. The tornado developed two miles northwest of Appleton and tracked southward into Fox Crossing and Menasha, the NWS said. EF3 tornadoes carry wind speeds of 136-165 mph. “If you experienced any damage, it’s important to notify your insurance agent or company right away to begin the claim process,” Wisconsin…