Author: completebodyneeds

The Mississippi Insurance Department has fired its top examiner, a month after he was implicated in a multimillion-dollar embezzlement scandal at his wife’s credit union. Chad Bridges, the director of financial and market regulation at the insurance department since early 2024, was placed on administrative leave in May after the conservator for the troubled Jackson Area Federal Credit Union named him and his wife in a $95 million lawsuit. Last week, the insurance department terminated his employment altogether, according to news reports. “Effective Monday, June 15, Chad Bridges is no longer employed with the Mississippi Insurance Department,” MID Communications Director…

US regulators have taken their biggest step yet to speed the connection of data centers to the country’s grids while simultaneously attempting to slow surging utility bills that have angered Americans. The Federal Energy Regulatory Commission approved a series of orders Thursday tailored to the country’s power grids in a bid to remove bottlenecks that had risked slowing the AI boom. The aim is to handle requests for power within 90 days, a dramatic acceleration of a process that currently can take years. The fast-tracking will come with tradeoffs for AI hyperscalers. Under the plans, they could be required to…

Baby formula maker Nara Organics said it is voluntarily recalling all of its infant formula, currently available in the United States, over potential risk of bacterial contamination. The company said the U.S. FDA and CDC contacted it late Friday and provided information about three infant botulism cases involving babies who had consumed Nara’s formula. Infant botulism occurs when babies ingest spores of the bacterium Clostridium botulinum, which can grow in their immature digestive systems and produce toxins. Symptoms include constipation, poor feeding, drooping eyelids, breathing difficulties and could also lead to respiratory arrest in severe cases. In its statement, Nara…

Pennsylvania Attorney General Dave Sunday reached an agreement with GEICO that should modify an artificial intelligence (AI) initiated auto insurance policy cancellation process the state alleged was unfair and confusing. The agreement stems from a complaint by a new GEICO policyholder in Philadelphia who lost her insurance as a result of the company’s standard 60-day policy review for new customers. The company utilized a tool with AI to select the customer for further review and underwriting. GEICO required the policyholder to submit additional documentation under threat of cancellation. The policyholder believed she had submitted the requested documents and was not…

Declarations

By L.S. Howard Legal reforms, improved building resilience, and disciplined underwriting have combined to restore confidence in the Florida re/insurance market, leading to increased capacity as well as improved terms and pricing during the June reinsurance renewals, according to Guy Carpenter. Since landmark tort reforms were enacted in December 2022, Florida’s property insurance market has strengthened, with domestic underwriters posting a 76.8 combined ratio in 2025, said Guy Carpenter in its report titled “June 2026 Florida Reinsurance Renewals – A Thriving Market Restoring Capital to Healthy Levels.” “Policyholders’ surplus surged by 45%, as carriers continued to rebuild from the eroded…

Property and casualty carriers have made fortunes over the last two years. In fact, they have been profitable for 30 of 31 years. The exception was after the 9/11 attacks, when they threw in all the reserves they should have made in years prior. Specific carriers used that tragedy as camouflage for past reserving sins. Over the last two years combined, profits totaled $317 billion. For context, according to the Congressional Budget Office, the entire U.S. Federal Government saw an increase of $317 billion in fiscal year 2025. This is approximately the ENTIRE economies of Peru, Greece, and Finland. Even…

A new survey from the Insurance Information Institute (Triple-I) and Munich Re US shows overlapping exposures are shaping today’s risk landscape. Triple-I and Munich Re’s RiskScan 2026 examines evolving risk perceptions and interconnected exposures in the United States and United Kingdom insurance markets. More than 1,700 participants were surveyed in the U.S. and U.K. across five key insurance market segments: consumers, small business owners, middle-market decision-makers, property/casualty insurance agents and brokers, and P/C insurance carriers. RiskScan 2026 provides two in-depth reports: RiskScan 2026 (Re)insurance highlights the growing alignment around related risks that are reshaping economies and societies and cites persistent…

Georgia insurance brokers and agents are sounding the alarm–and perhaps checking their own errors and omissions coverage–after a recent state appeals court ruling opened the door for third parties to sue when “adequate” coverage is not secured. “This ruling fails to understand the insurance buying process and is disastrous for agents and the industry,” said Michael Iverson, a commercial agent and former president of the Independent Insurance Agents of Georgia. Iverson was speaking of a May 13 decision from the Court of Appeals of Georgia, which, for the first time, allows insureds to assign claims to people who are not…

By Russ Bynum The artist who painted a giant mural on a building in downtown Dallas of life-sized swimming whales has filed a $25 million lawsuit against soccer’s international governing body and others, saying they illegally painted over his work to promote the city’s World Cup matches. The artist Wyland says he hand-painted the sprawling mural that covered roughly 17,000 square feet (1,580 square meters) across two of the building’s walls. The mural stood for nearly three decades before workers began painting over it last month, causing an uproar among residents who admired the mural’s grand scale and message of…