Author: completebodyneeds

This article is part of a sponsored series by Amwins. The healthcare industry continues to navigate a complex risk landscape. Rising claim severity, social inflation, workforce challenges and ongoing regulatory pressures are some of the largest challenges the healthcare market is currently facing. While market conditions have stabilized in certain segments due to increased carrier participation and new capacity, underlying loss trends continue to influence underwriting strategies, pricing and coverage availability. Organizations across the healthcare spectrum are also adapting to emerging exposures associated with technology adoption, artificial intelligence and changing care delivery models. As insurers balance growth objectives with deteriorating…

Texas and Louisiana are sweltering under dangerous heat exacerbated by Tropical Storm Bertha, which made landfall Wednesday afternoon and is helping push Texas electricity demand to another record. Heat index temperatures in eastern Texas and northwest Louisiana may reach 120F (49C), according to the National Weather Service. An extreme heat warning remains in effect across much of the region through 8 p.m. local time. Power demand in Texas is projected to rise to a record of close to 90 gigawatts Wednesday afternoon. That would come a day after usage reached a new all-time high of 87.403 gigawatts, surpassing the earlier…

On Wednesday, nearly 270 New York law enforcement officials participated in a specialized training on combatting auto insurance fraud at the New York State Police Academy in Albany. Participants hailed from 55 agencies including the New York State Police, local police departments, sheriff’s offices, university police departments and district attorneys’ offices. The training, led by the NYS Police and the Department of Financial Services (DFS), was aimed at improving the detection, investigation and prosecution of financial crimes, including auto insurance fraud. “By equipping nearly 270 law enforcement officers across 55 agencies with specialized tools to detect and prosecute these schemes,…

UCA General Insurance Services, Inc. promoted Laurie Eusebio to vice president of operations. The new role will include a range of responsibilities involving all departments in the firm. Eusebio started with UCA in 2006 as a marketing assistant. Since then, she has taken on additional roles as inside marketing manager, licensing coordinator and HR manager. UCA is headquartered in Cypress, California. Was this article valuable? Yes No Here are more articles you may enjoy. The most important insurance news,in your inbox every business day. Get the insurance industry’s trusted newsletter

W.R. Berkley’s CEO wasted no time addressing the issue that has been stuck in his craw for at least a year. “We continue to have great concern around much of the [delegated underwriting authority] model and how it’s participating in the marketplace,” said W. Robert Berkley Jr, president, CEO and most recently chairman—a title he took over when his father, industry legend and company founder, William R. Berkley passed away in June. Berkley’s comments on managing general agencies and underwriters came as soon as CFO Richard Baio’s second-quarter financial report was complete. The Greenwich, Connecticut-based commercial insurer saw net income…

New small business owners are more likely to have proper business insurance than those that have been operating longer. Even so, a majority of small businesses remain underinsured. That’s according to a new survey by ERGO NEXT which found that 82% of new businesses with less than one year in operation have insurance while only 67% of businesses with one to five years in operation have insurance. Perhaps a more important statistic for agents and brokers to consider that 73% of small businesses could be underinsured for the actuals risks they face today. The study also found that a quarter…

A federal judge has ruled that New York City cannot prohibit Uber Technologies and Lyft rom deactivating drivers from their apps without advance notice, ruling that the novel law is unconstitutional. U.S. District Judge Gregory Woods in Manhattan said in a written ruling on Tuesday that the city’s law adopted earlier this year benefits a small fraction of drivers while interfering with the ride-hailing companies’ right to police the safety of their platforms. “Uber and Lyft are likely to succeed in showing that the law protects a narrow class of drivers and does not advance the broader social or economic…

A twice-convicted felon who helped orchestrate a scheme to inflate the value of a small New Jersey delicatessen to more than $100 million was ordered to spend 21 months behind bars. James Patten, 67, was sentenced Tuesday by US District Judge Christine P. O’Hearn in Camden, New Jersey, more than two years after he pleaded guilty to securities fraud and conspiracy in the case. Patten and two others were charged in September 2022 with artificially inflating the price of two companies through manipulative trading, including Hometown International Inc. That company’s only asset was “Your Hometown Deli” in Paulsboro, New Jersey,…

The US Food and Drug Administration said it’s investigating yet another outbreak of the diarrhea-causing cyclospora parasite, with 72 cases tied to an unknown source. The latest infections disclosed by the agency on July 22 add to the surge of cases centered in the Midwest. Those were linked to Taylor Farms lettuce, and the company has recalled those products. The FDA already was investigating several other ongoing cyclospora outbreaks. The outbreaks are roiling consumers and spooking investors. While the FDA said the latest outbreak hasn’t been linked to an identifiable product, shares of Sweetgreen Inc. fell more than 13% at…

The US Food and Drug Administration had apologized, Taylor Farms said in a post on X. An agency lab test linking its produce to the country’s worst cyclosporiasis outbreak in decades was a false positive. Not only that, but the government still hadn’t produced a laboratory result connecting the company’s lettuce to the outbreak. The statement, issued Sunday, was a remarkable bid to give the impression that regulators — who had said significant evidence linked Taylor Farms iceberg lettuce to the public health crisis — had made key scientific errors. By July 21, the X post was deleted. That was…