Author: completebodyneeds

Medical service costs in California workers’ compensation rose 5% last year on the back of growth in both average payments and utilization, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California released its Medical Service Cost Trends report, which looks at factors shaping medical cost growth in the state’s workers’ comp system. Medical costs accounted for 52% of the total loss payments in the workers’ comp system. Related: WCIRB: California Comp Premium Leveled off, But CT Claims Frequency Rose Medical service costs rose moderately in 2025, and the WCIRB report shows emerging trends influenced costs across the…

Brian Alva Tokio Marine HCC – Cyber & Professional Lines Group Appoints Alva SVP of Underwriting to Lead Cyber Business Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), a member of the Tokio Marine HCC group of companies based in Houston, Texas, appointed Brian Alva as senior vice president of underwriting to lead cyber & tech underwriting. Alva brings more than 15 years of cyber and professional liability experience, with a career spanning underwriting leadership, portfolio strategy, product development and distribution. He joins CPLG from Travelers, where he served as vice president, specialty cyber, following senior leadership roles…

A federal judge has ruled that J.M. Smucker can proceed with a lawsuit against Trader Joe’s over frozen sandwiches that Smucker claims are too similar to its Uncrustables. Smucker sued Trader Joe’s in federal court in Ohio last fall, claiming Trader Joe’s committed a trademark violation when it introduced frozen peanut butter and jelly sandwiches with the same round shape and crimped edges as Uncrustables. Related: Smucker Sues Trader Joe’s, Saying New PB&Js Are Too Much Like Uncrustables The lawsuit further alleged that Trader Joe’s put its crustless PB&Js peanut in packaging that too closely resembled the coloring of an…

The California Assembly adjourned without passing a revamp of the state’s wildfire response, sending up shares in two key power utilities, PG&E Corp. and Edison International. The deal fell apart Tuesday as lawmakers prepared to leave the state capitol. Major utility companies argued that the proposals didn’t go far enough to protect them from the costs of such disasters, a stance shared by California Gov. Gavin Newsom. Related: California Lawmakers File Wildfire Plan, Without Newsom Asks PG&E closed up 6%, the most in more than a year, after a 20% drop on Monday. Edison closed up 8.9%, the most since…

Pennsylvania-based Ignyte Insurance, a specialty insurance platform, has acquired InsureMyTrip, a travel insurance marketplace that helps travelers compare and purchase coverage from insurance providers. Terms of the transaction were not disclosed. Rhode Island-based InsureMyTrip reports it has served more than 6 million travelers. Its marketplace includes insurance for trip cancellation, travel medical, evacuation, cruise, student travel and annual protection plans. InsureMyTrip will continue operating under its own brand name. Ignyte Insurance is focused on building and scaling specialty insurance brands in unique, niche markets. The acquisition further advances Ignyte’s strategy to build a global portfolio of travel and travel medical…

The U.S. pressed G20 members on Tuesday to take a hands-off approach to AI regulation and avoid creating new rules for the technology at a gathering of industry titans and commerce ministers in North Carolina. The U.S. goals largely align with the thinking of the world’s biggest AI companies, nearly all of which are American. They want less regulation around the world for their rapidly growing businesses, or to shape the rules as they are written. Federal government requirements could hurt the industry’s profits if they slow the release of new models or prompt the companies to change how their…

A new report highlights insurance industry employees’ growing negativity toward artificial intelligence job displacement, as sector employment dropped 21% yera-over-year, and entry-level adjuster positions dropped 50% YoY. Glassdoor’s Employee Confidence Index for its broader AI Report hit a record 10-year low in July, and a large percentage came from the insurance sector. From July 2025 to July 2026, employee confidence in insurance dropped 7 percentage points, authors Chris Martin, senior economist with Glassdoors Economic Research team, and Indeed Hiring Lab economist Feliz Aidala noted. The extremely negative sentiment toward AI is driven by fears of AI-based job replacement, the push…

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 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: rates soften, insurers keep…

Sunstar Insurance Group announced it has hired Tod Ashby as Chief Information Officer, where he will lead the company’s technology strategy, enterprise infrastructure and systems modernization as Sunstar continues to build the scalable platform needed to support its growth. In this role, he will oversee enterprise architecture, cloud and cybersecurity strategy, data and reporting infrastructure and the technology integration of newly acquired agencies, working closely with Sunstar’s executive team to advance Sunstar’s Corporate Infrastructure priorities. Ashby brings four decades of technology leadership experience across the insurance industry, with a focus on enterprise transformation, M&A due diligence and integration, cloud and…

The Michigan Department of Insurance and Financial Services (DIFS) joined 48 state financial regulatory agencies in reaching a $15.5 million settlement with mortgage servicer NewRez for improperly imposing “force-placed” insurance costs on borrowers who already had active homeowners insurance policies. Michigan’s final share will be $274,206. “Michiganders should be able to have confidence that their mortgage lenders and servicers operate with integrity and follow the law,” said Director Fox. “This settlement demonstrates DIFS’ commitment to holding licensees accountable and protecting Michiganders’ pocketbooks. If consumers notice suspicious activity or have concerns related to their insurance or financial services, they should contact…