Author: completebodyneeds

PG&E Corp. reported a 7.6-gigawatt increase in its data center pipeline during the second quarter as the artificial intelligence build-out gains momentum. The California utility’s pipeline of proposed data center projects totaled 12.7 gigawatts at the end of June, up from 5.1 gigawatts in March, the company said Thursday in its latest earnings presentation. The surge underscores that the data-center boom won’t be limited to the states that have dominated AI infrastructure thus far, including Virginia and Texas. Related: PG&E Says Power Shutoffs Required in California on Wildfire Risk PG&E separates projects in the pipeline into different categories depending on…

All Peril severity reached an all-time high in 2025, rising 25.9% from a year earlier, a new report shows. LexisNexis Risk Solutions released its 2026 U.S. Home Trends Report, which looks at loss cost, claims frequency and severity. Related: Changes in Policy Language, Provisions Suppressing Claim Volume, Report Shows All Peril loss cost fell 4.4% and frequency decreased 23.8% from 2024 to 2025, the report shows. The report’s authors say it shows that insurers face rising severity, rising inflation-driven replacement costs and a reshaping loss patterns from shifting climate-driven catastrophes. Severity reached its highest level in seven years, increasing 93.2%…

Les Willis The Automobile Insurance Plans Service Office (AIPSO) appointed Executive Vice President Les Willis as president and CEO. Willis succeeds President and CEO Charles Kwolek, who is retiring after a 32-year career with the organization. Prior to joining AIPSO, Willis served as a member of AIPSO’s board of directors for 10 years (serving two terms as chair), and as vice president of operations for State Farm Mutual Automobile Insurance Co. He has more than 32 years of insurance industry experience and led multiple teams at State Farm working in both the United States and Canada. Willis joined State Farm…

California workers’ compensation premium growth leveled off as rates stabilize, but rising cumulative trauma claims continue to drive claim frequency higher, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its 2026 State of the System report, examining premium levels, claim activity, system costs and market conditions. Related: WCIRB: 2025 California Workers’ Losses and Expenses 102% of Earned Premium Average charged rates reached the lowest level in more than 50 years in 2025 but are plateauing. In 2025, advisory pure premium rates increased for the first time in a decade, with a further 6.6% increase approved…

A Florida teen dropped his lawsuit on Wednesday against Meta Platforms META.O, canceling a Los Angeles trial over claims the social media company’s apps caused his depression and anxiety. The trial, which had been slated to begin on Monday, was expected to be the second trial in thousands of lawsuits that have been consolidated in California state court over claims social media companies designed their platforms to be addictive to children, spurring a youth mental health crisis. The lawsuit, brought by a 15-year-old boy known as R.K.C. who started using social media when he was 8, originally named four defendants:…

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…

Liberty Mutual Insurance has introduced its first new brand character in eight years: Liberty Biberty, the embodiment of the warm, fuzzy feeling you get when you have great coverage at a great price. Liberty Mutual first introduced the phrase “Liberty Biberty” in a 2019 ad in which an actor struggles to pronounce the insurer’s name. The new character was developed and designed by Liberty Mutual and its creative agency Bandits & Friends and crafted by Jim Henson’s Creature Shop. The campaign is being rolled out across television, streaming, social media, media integrations and creator collaborations as part of Liberty Mutual’s…

Safety Insurance Group Inc,, a property/casualty insurer in Massachusetts and New England, has agreed to be acquired by Span’s Mapfre S.A. in an all-cash transaction valued at approximately $1.54 billion. Under the terms of the agreement, a subsidiary of Mapfre U.S.A. Corp. will merge with and into Safety, following which Safety will become a wholly-owned subsidiary of Mapfre U.S.A. Corp., and thus a sister company to Mapfre U.S.A. Corp’s other U.S. subsidiaries. Safety shareholders will receive $105 for each Safety common share in cash, which represents a substantial premium of 44% on Safety’s stock price as of July 23, 2026.…

Michigan health officials reported 7,171 cases linked to an outbreak of cyclosporiasis on Wednesday, up 600 cases since its last update on Tuesday. The outbreak of the intestinal infection in Michigan has resulted in 102 hospitalizations, according to the state health department’s latest update. No deaths have been reported. Here are some details: The CDC said on Tuesday 4,173 people across 41 states had contracted the parasite, and 308 of them had been hospitalized. The agency said it is aware of at least 7,400 more cases reported by state and local health departments that are not yet laboratory confirmed and…

Insurance broker Gallagher has relaunched its aviation insurance web portal — Jacinth — which provides clients with an interconnected insurance management system. The new enhanced digital platform is designed to help clients drive efficiency and offers analytical insights on their risk profile. The functionality includes the ability to track aircraft fleets in real time; detailed claim information and analysis; dynamic premium feedback based on exposures; documents and insurance certificates (which can be downloaded instantly), and comprehensive reporting tools to support risk assessments and insurance program adjustments. At the core of the updated Jacinth platform is its new, smart-capture technology which…