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Insurance crisis: Insurance commissioner Tim Temple approved State Farm’s request for a 5.9% average rate decrease for more than 1,066,000 personal auto insurance policy holders. Additionally State Farm was approved for a 9.7% average increase on more than 300,000 of its homeowners’ insurance policy holders. The changes will take place Jan. 1. Read more from WAFB-TV.
AI glut concerns: There’s a frenzy of development going on to support the AI revolution, and with it an insatiable demand for debt to fund it. Some estimate the overall infrastructure roll-out cost could reach $10 trillion, and with so many lenders lining up to throw cash at the assets, the fear is a bubble is building that could eventually leave equity and credit players facing substantial pain. Read more from Bloomberg. A subscription may be required.
Cutting staffing: A new Environmental Integrity Project analysis finds Louisiana has sharply cut pollution regulation staffing and budgets even as industrial activity grows. The report warns reduced resources at the state and federal level increase pollution risks, conflicts in permitting and delayed enforcement. The document also characterizes Louisiana as having the highest amount of toxic air emissions per square mile of any state in the country. Read more from the Louisiana Illuminator.
