The Dubai chocolate craze is now about much more than bars

posted in: All news | 0

By KATIE WORKMAN, Associated Press

NEW YORK (AP) — Some flavor crazes flirt with us and fade. Others stay and make themselves at home.

It’s too soon to tell for sure, but the Dubai chocolate movement seems to have put down roots and is spreading at a brisk clip. The sweet flavors and thick texture that have made Dubai chocolate bars a hit are morphing into other kinds of confections, too.

Pieces of Dubai chocolate by Chocolove are displayed in New York. (Katie Workman via AP)

Let’s back up for a minute. The original and now-classic Dubai chocolate bar was created by Fix Chocolatier in the United Arab Emirates in 2021, and by 2023 had exploded on social media. Rich and indulgent, it features a thick, milk chocolate shell usually encasing a creamy pistachio (and often tahini) filling mixed with crispy, shredded, phyllo-like pastry called kadayif.

Global brands and small bakers alike are riffing on the concept, translating it to croissants, milkshakes and more. Fillings range from peanut butter and jelly to s’mores to matcha.

“I don’t call this a ‘trend’ anymore — it’s a whole new thing,” said Din Allall, whose family business, The Nuts Factory, has about 150 U.S. stores featuring nuts, dried fruits and candies.

The craze has even contributed to a pistachio shortage this year, the Iranian nut producer Keinia has reported. It said the primary reason for the shortage is “the explosive surge in demand fueled by the viral ’Dubai chocolate’ TikTok trend, compounded by underlying supply constraint.”

Leonessa Dubai chocolate bars are displayed in New York. (Katie Workman via AP)

Globally, Google searches for “Dubai chocolate” shot up quickly at the start of the year before peaking in March. They’ve remained elevated since then, according to Google Trends.

In the U.S., Dubai chocolate is still a relatively niche product. In the 52 weeks ending June 28, U.S. retail sales of pistachio-filled chocolate totaled $822,900, according to the market research company NielsenIQ. By comparison, sales of all chocolates totaled $16.27 billion.

Still, demand for Dubai chocolate is growing much faster than demand for other varieties. Unit sales of pistachio-filled chocolates were up 1,234% compared to the previous year, NielsenIQ said, while unit sales of all chocolates fell less than 1%.

Allall carries 12 flavors of Dubai chocolate bar, as well as chocolate- and pistachio-covered Dubai dates, Dubai-coated roasted nuts, a layered Dubai chocolate strawberry parfait, and a Dubai Golden Chocolate bar infused with edible 24-karat gold for $79.99 (their regular 6.5-ounce bars sell for $18.99).

It’s not just the flavors that make Dubai chocolate different, Allall says, but the bar’s structure too — “huge, thick, with lots of filling.”

Big retailers and restaurants have gotten on board

Trader Joe’s carries a Dubai chocolate bar made by Patislove. IHOP introduced a limited-time Dubai pancake stack in some locations in August. Baskin-Robbins has some Dubai-inspired ice cream products on its menu, while Costco sells a range of Dubai chocolate confections, including a Dubai chocolate cake. Walmart and QVC also sell Dubai chocolate.

Swiss chocolate giant Lindt has a bar, and drew crowds when it debuted a limited number of them in Europe last fall.

FILE – Pieces of Dubai chocolate appear in a Lindt shop in Aachen, Germany on Nov. 14, 2024. (AP Photo/Daniel Niemann, File)

“For me, it’s the crunch,” said Erica Lefkowits, who was buying some Dubai chocolate recently in Dublin. “The chocolate is soft and melty, and the filling is creamy, and then the crunch of the kadayif. It’s all about the texture. Plus, it’s sugar.”

She was a little annoyed at the price, higher than your average chocolate bar. Part of Dubai chocolate’s appeal, though, is the way it feels simultaneously indulgent and worldly. Pistachios, rose, saffron and cardamom bring luxury, travel and exoticism to the chocolate party.

Related Articles


Want to eat more plant-based meals? Maggie Baird, Billie Eilish’s mom, has some ideas


Recipe: With a skillet, moussaka doesn’t have to be a project dish


With over 700 years of history, mixiotes should be on your Mexican food bucket list


This might be the easiest way to make ratatouille


Mexican dinner party: This garlicky fish will wow everyone you know

Despite the price, “I’ve never seen a single item sell like this in my 50 years of retailing,” said Stew Leonard, Jr., CEO of Stew Leonard’s grocery stores in the New York metropolitan area. The chain introduced the BeeMax Dubai chocolate bar in March, watched it fly out the doors, he said, and then launched their own house-branded version (made by the company Chocopologie).

They’ve introduced a Dubai chocolate gift box for the holidays, which includes teeny Dubai ice cream cones, Dubai pralines and two bars.

Some other widely distributed brands in the U.S. are Moda, Magno and Leonessa. Other iterations of Dubai chocolate include Chocolove’s little candies and Matteo’s Coffee Syrups’ sugar-free chocolate coffee syrup.

Katie Workman writes regularly about food for The Associated Press. She has written two cookbooks focused on family-friendly cooking, “Dinner Solved!” and “The Mom 100 Cookbook.” She blogs at https://themom100.com/. She can be reached at Katie@themom100.com.

Doctors with troubled pasts are performing cosmetic surgeries tied to crippling pain and injury

posted in: All news | 0

By Fred Schulte, KFF Health News

Not long after California surgeon Andrew S. Hsu landed a job with a cosmetic surgery chain in Georgia, several of his patients suffered disfiguring injuries, and even his new employer had doubts about his competence, court records allege.

Hsu, a board-certified general surgeon, was one of six out-of-state doctors who joined the Atlanta Goals Aesthetics & Plastic Surgery center during the pandemic. The surgeons received temporary licenses to practice in Georgia, which state officials granted in response to the sudden need for more medical personnel to address the covid-19 outbreak — even though the center specialized in elective cosmetic surgeries, such as Brazilian butt lifts, or BBLs, and liposuction, paid for in cash or on credit.

The Atlanta center announced its opening in March 2021 as an expansion of New York-based Goals Aesthetics & Plastic Surgery, which markets “precision body contouring” for about a dozen surgery clinics in eight states, promising patients a “dream body in just one visit.”

Surgeon Andrew S. Hsu has worked for Goals Plastic Surgery in three states. He appears in this photograph on the Goals Aesthetics & Plastic Surgery website. (Screenshot by KFF Health News of the Goals Aesthetics & Plastic Surgery website/TNS)

But the Atlanta center’s early days were marred by allegations of substandard patient care. Court records show that at least 20 women filed medical malpractice lawsuits against the facility, or its owner and surgeons. Hsu was named as a defendant in seven suits filed against the Atlanta center, more than any other physician there. An eighth patient sued Hsu alleging negligence in an operation he performed at a Goals office in New York.

Hsu did not respond to requests for comment. Goals declined to comment. Both have denied any negligence.

Cosmetic surgery chains across the country are attracting patients by promising “minimally invasive” operations to reshape their bodies or get rid of stubborn fat — even helping arrange outside financing for people who can’t pay up front. Hundreds of thousands of patients are undergoing such procedures each year, and plastic surgeons can make more than $500,000 each year in one of the highest-paid specialties in American medicine.

An investigation by KFF Health News found that lawsuits filed by injured patients have trailed the industry’s growth, in some cases alleging that surgeons lacked adequate training, had histories of malpractice lawsuits, or had faced disciplinary action by state medical licensing boards — yet crossed into another state and kept practicing.

In the Atlanta lawsuits, Goals has denied any negligence and won dismissal of several of them because patients had signed papers agreeing to outside arbitration — which requires them to resolve disputes privately and outside the court system.

Yet Goals argued in a separate contract dispute that several of its Atlanta surgeons, including Hsu, were indeed prone to problems — either because they lacked adequate training or had troubled pasts, including investigations by state medical licensing boards into misconduct, court records show. One of Hsu’s Atlanta patients said in a separate lawsuit that she suffered in pain for over a year because a piece of a scalpel was left inside her body after a BBL and liposuction.

In a June 2023 court filing in that contract dispute, Goals blamed the problems on a medical staffing firm — Barton Associates, a private equity-owned firm in Massachusetts — it said failed to do adequate background checks on the doctors it supplied. Barton denied the allegations and said it met all terms of the contract.

No public database exists to help patients learn the full practice histories of physicians, including cosmetic surgeons. And patients are largely left on their own to decipher which certificates hanging on a surgeon’s wall, or ballyhooed in web advertising, signify appropriate training and which do not. Disputes among medical specialty groups over whose members are the best qualified to perform cosmetic operations — and deliver the best results — add to the confusion.

No government agency tracks injuries or other complication rates at clinics offering cosmetic surgery or any other type of operations. And in many jurisdictions, including Georgia, gaining access to court records — a possible red flag for spotting problems — is laborious and costly.

Charleetra Hornes, 52, who lives in the Atlanta suburbs and is suing the Goals center for medical malpractice, said she knew nothing of its alleged early troubles and chose the company because its advertising promised “minimal downtime” for recovery and that she would remain awake during the operation.

She said she paid $6,650 for a “double BBL,” in which fat is suctioned from the stomach, purified, and injected into the buttocks and hips to create what Goals calls a “natural-looking enhancement.

Goals went ahead with her surgery on July 2, 2022, even though she had tested positive for covid that day, according to the suit. Hornes alleged that two days before the surgery Goals assigned her to surgeon Thomas Shannon, who has worked for Goals in Georgia and Texas.

Though staff gave her pills to manage the discomfort, Hornes said, she suffered “excruciating pain” during the procedure, according to the suit.

That night, she spiked a fever that sent her to the emergency room. She spent two weeks in the hospital recovering from injuries, including a “severe burn on her side,” according to the suit.

“I’ve been disfigured and burned up, and it’s not fair,” she said in an interview.

In June 2024, Hornes sued Shannon, the Goals center, and Barton Associates, alleging malpractice. On Sept. 2, a Georgia judge dismissed Shannon from the case, ruling that Hornes failed to serve him with the complaint in Texas before the statute of limitations ran out. He did not respond to requests for comment.

In a separate order issued on the same day, the judge also dismissed the other defendants, citing the statute of limitations issue and that Hornes had previously signed an arbitration agreement. Some cosmetic surgery chains and other medical practices ask patients to sign such agreements.

Hornes wishes she had learned more about the Atlanta surgery center, instead of accepting what she calls its “flashy” come-ons. “I wish I would have taken it more seriously,” she said in an interview, “because it was life-altering.”

Useful tools

KFF Health News identified more than 200 lawsuits filed against multistate cosmetic surgery companies, mostly over the past seven years, including cases involving a dozen deaths, using databases of court records.

Lawsuits by themselves don’t prove wrongdoing. Many cases are settled under confidential terms that keep critical details under wraps. Yet medical authorities and most physician licensing boards regard malpractice cases and settlements as a useful tool for detecting possible patterns of substandard health care that may harm patients.

Court files show that surgeons who were sued numerous times for malpractice — and in some cases disciplined by state medical boards for misconduct — have managed to get hired by cosmetic surgery chains.

Goals, owned by physician Sergey Voskin, has contracted with eight surgeons with three or more malpractice cases filed against them, including in the Atlanta area, court records allege. Gerald Hickson, founding director of the Vanderbilt Center for Patient and Professional Advocacy and an expert on medical malpractice issues, called that number of suits a “warning” of possible problems, despite their outcome.

A portrait of physician Sergey Voskin appears on the Goals Aesthetics & Plastic Surgery website. Voskin owns the company, which manages cosmetic surgery centers in several states. (Screenshot by KFF Health News of the Goals Aesthetics & Plastic Surgery website/TNS)

Earlier this year, a Pennsylvania woman identified in court filings as “P.C.” sued Goals, Voskin, and surgeon Peter Driscoll, alleging Driscoll came on board despite an “extensive history of malpractice allegations, licensing suspensions and discipline” in Texas and California, according to medical board records cited in the suit. Companies hiring doctors have ready access to the nonpublic National Practitioner Data Bank, which details disciplinary problems in a doctor’s past. But it’s not clear from court records whether anybody made these standard background checks. Goals did not respond to a request for comment.

The suit also accuses Goals of consumer fraud for touting its surgeons as “double if not triple board certified plastic surgeons.” According to the complaint, Driscoll was board-certified by the American Board of Otolaryngology, a specialty that focuses on treatment and surgery of head and neck areas. Driscoll is no longer certified in the specialty, according to the American Board of Medical Specialties website.

The woman alleges that Driscoll sexually harassed her and made “unwanted and unwelcome sexual contact” during a BBL procedure in June 2022 at a Goals office in New Jersey.

According to the suit, staff members overheard Driscoll watching pornography in an office bathroom multiple times, but Goals did not terminate him at the time. New Jersey’s State Board of Medical Examiners suspended Driscoll’s license in February 2023 related to the incident, and the woman’s lawsuit is pending in federal court in New Jersey. Goals and Voskin have denied the allegations in the suit and filed a motion to dismiss or compel arbitration of the case. Driscoll, who has not filed a response with the court, could not be reached for comment.

Performance issues not ‘disqualifying’

Other cosmetic surgery chains have faced multiple malpractice actions targeting surgeons or other health care providers who staff their clinics, court records show.

The surgeon roster at Mia Aesthetics, a Miami-based chain that operates 13 cosmetic surgery offices nationwide, lists four doctors with three or more malpractice actions since 2020, court records show.

Nearly a dozen injured patients have filed lawsuits criticizing the credentials of doctors and nurse practitioners affiliated with Belle Medical, including the family of a 70-year-old Utah woman with five children who died in the car two days after liposuction as her husband rushed her from home to a hospital, according to court records.

Her husband alleges he called Belle Medical’s office the day after the procedure to say his wife was having difficulty breathing and heart palpitations and couldn’t walk more than a short distance, which the lawsuit argued were “textbook symptoms of pulmonary embolism, or blood clot in the lung.” According to the suit, nobody at Belle Medical advised the family to seek immediate medical care. An autopsy found she died from “bilateral pulmonary emboli,” according to the suit.

Backed by Peterson Partners, a Utah private equity and investment firm, Belle Medical operates in Utah, Idaho, and Oklahoma, offering liposuction and other cosmetic surgery. Neither Belle Medical nor Peterson Partners responded to requests for comment. In court filings, Belle Medical has argued that its medical providers are independent contractors who are solely responsible for any procedures they perform.

Private equity-backed Sono Bello, the largest of the cosmetic surgery chains with more than 100 locations nationwide, has defended more than a dozen lawsuits alleging the company contracted with inadequately trained doctors or practitioners previously disciplined by medical licensing boards. In May 2023, Ohio’s medical board revoked the license of a Sono Bello contract surgeon after three of her patients died, two of them following procedures at a Sono Bello office in the Cleveland area, according to medical board records.

Surgeon Robert Centeno is Sono Bello’s medical director for the East region. (NBC News/KFF Health News/TNS)

Robert Centeno, Sono Bello’s medical director for the East region, told KFF Health News that many surgeons have past performance issues, which he called “not, in fact, disqualifying.”

“The vast majority of our colleagues are extremely professional and committed to their profession,” he said in an interview. “And while there may be a momentary lapse or issue with their practice, most of our surgeons take those sanctions, take that counseling, that advice, and improve their practices and go on to be very, very productive members of the medical community.”

Asked about malpractice lawsuits filed against the company, Centeno said that Sono Bello has “performed over 300,000 procedures to date,” which he described as “more procedures for more patients completed safely than anyone else in the industry. It would be natural and understandable to know that at some point during that process, that a patient has actually sued us,” Centeno said.

‘Unable to perform’

In early 2020, as the pandemic slowed business in New York City, Goals sought to expand to Atlanta — a hot market for its BBLs. In a PR Newswire release, Goals promised patients “amazing contours” and boasted of having “some of the most experienced, and aesthetically forward surgeons in the industry.” BBLs and liposuction make up 95% of its business, marketed to mostly Black and Hispanic women, Goals owner Voskin testified in a deposition filed this year in the Driscoll case. Many Atlanta patients suing the company paid roughly $6,000 to $8,000 for their surgeries, court records show.

Goals initially staffed the Atlanta center through Barton Associates. Many hospitals and medical offices rely on such firms to find temporary doctors and other staff. Under the deal, Barton charged Goals $1,400 for each procedure and paid about $600 of that to the surgeon, according to Goals’ court filings.

In 2023, Barton sued Goals in a Massachusetts court, alleging it was owed $487,000 in fees. Goals admitted that it “temporarily ceased payment” to Barton. But it fired back with a counterclaim accusing Barton of failing to check the qualifications and backgrounds of surgeons as required by the agreement.

Goals named five surgeons Barton sent to the center, including Hsu, and pointed to the spate of malpractice cases in Atlanta to bolster its argument.

Goals said it “became immediately apparent” that another surgeon was “fundamentally unable to perform his duties.” The surgeon was “abrasive, vulgar and could not conduct himself in accordance with reasonable professional standards that were expected in a medical workplace,” according to Goals’ counterclaim.

A second surgeon Barton presented as “highly skilled” turned out to have “an extensive history of complaints about his professional conduct” in two other states, according to the counterclaim.

Barton and Goals settled the case and counterclaim in April 2024 under confidential terms. Barton did not respond to requests for comment. Barton denied Goals’ allegations in earlier court filings and said that it “complied fully” with the terms of its contract with the surgery company.

In its counterclaim, Goals argued that shortly after Hsu joined the staff in 2021, it learned he had “multiple issues” in California and “was about to lose his medical license as a result,” according to a court filing.

Goals provided “significant legal and other assistance” to keep that from happening and Hsu “required substantial training in order to do acceptable work on patients,” the company argued in court filings.

Seven women filed malpractice suits in 2023 alleging they sustained injuries from BBLs and liposuction Hsu performed at the Atlanta office between mid-February 2021 and the end of June 2021, court records show. Barton, the staffing firm, also is a defendant in these cases and has denied wrongdoing. Hsu has denied wrongdoing in the cases and sought to enforce arbitration agreements.

Hsu’s emergency Georgia medical license, approved in January 2021, expired in April 2022, state records show. Hsu is licensed in New York and California, where he has also worked for Goals.

Two suits accuse Hsu of leaving a piece of metal inside the bodies of women, a calamity patient safety experts believe should never occur.

In one Atlanta case, a patient who alleged she had experienced constant pain since her surgery at Goals in 2021 said she discovered why more than a year later when a chest X-ray ordered after a car crash showed a piece of scalpel blade in her upper abdomen, according to her court filings. The action against Hsu and Barton Associates was settled early this year, court records show.

In the second case, a New Jersey woman who had a BBL at Goals’ Harlem office in New York City in February 2022 alleged she overheard Hsu say in the operating room that he had “left something inside of her,” which turned out to be a metal liposuction cannula tip that had broken off in her stomach. A judge dismissed her lawsuit due to an arbitration clause. She filed a notice of appeal, but the case was settled in August.

The California medical board’s investigation of Hsu ended in October 2023 with a settlement and disciplinary order. The state accused him of “repeated negligent acts” in treating six patients dating to 2016, including three people who died. None involved cosmetic surgery like his work at Goals.

The board revoked his license but stayed the action and imposed a four-year probation, tacking on a $24,000 penalty to cover costs of the investigation. The order also required Hsu to find a practitioner to help oversee his practice and prohibits him from serving on any on-call panel for general surgery. In settling the case, Hsu did not admit any wrongdoing.

Goals has featured Hsu in a TikTok video, and boasts on its website that he is a “highly skilled surgical specialist,” who provides “top-notch surgical care.”

Related Articles


MPR News host Angela Davis taking leave of absence after cancer diagnosis


Why Democrats are casting the government shutdown as a health care showdown


AI will soon have a say in approving or denying Medicare treatments


Clinic launches suicide prevention campaign for women veterans: ‘We are here for you’


USDA warns that Hello Fresh meals may contain listeria-tainted spinach

Fellowship training

How much training cosmetic surgery chains demand of surgeons varies, judging by physician service contracts obtained by KFF Health News through court filings. Some contracts simply require that the doctor hold a valid state medical license, while others specify that a doctor “represents” that they are qualified to perform cosmetic surgery and have not been disciplined by licensing boards or been hit with major malpractice awards.

Sono Bello takes a different route. The company sponsors a six- to eight-week training course for surgeons, which it calls a “fellowship,” and posts details online.

Sono Bello accepts applicants from more than half a dozen surgical specialties and focuses its training on liposuction and a type of tummy tuck procedure called AbEX.

Court records show that Sono Bello has defended at least a dozen lawsuits from patients who argued some surgeons lacked sufficient training or had other problems, or alleged they were misled by some advertising that described surgeons who completed the fellowship as “board certified plastic surgeons.”

Sono Bello’s credentialing process came under attack in a 2023 malpractice lawsuit filed by Shirley Webb, a 79-year-old Nevada woman who spent months in hospitals and rehabilitation care recovering from sepsis after a tummy tuck and liposuction performed by surgeon Charles Kim in Las Vegas in December 2022.

Kim, a colorectal surgeon, took the Sono Bello fellowship from July 2022 to October 2022, court records show. In a deposition, Kim, who is board-certified in general surgery, stated that Sono Bello knew he had been disciplined by Nevada’s state medical licensing board for alleged malpractice in which a patient he operated on died. Kim paid a $4,000 fine and received a letter of reprimand in settling the medical board case without admitting wrongdoing.

Kim also testified in the medical malpractice case that Sono Bello was aware he had previously settled four medical malpractice cases, court records show. Christopher Chung, Sono Bello’s chief medical officer, said the company verified that Kim’s state medical license and other credentials “were up to date and in good standing” before it hired him. “We reviewed his surgical log, which detailed the voluminous and complex surgeries he had performed at the hospital where he was then employed, and received positive references from his employer and other surgeons,” Chung said in an emailed statement.

A medical expert hired by Webb’s legal team opined that Sono Bello’s use of the term “fellowship” is deceptive because the program is not accredited, or recognized by any subspecialty certifying board, professional society, or hospital. A medical fellowship is typically a training program that lasts at least a year. “We strongly disagree with the suggestion that our website is misleading. We accurately state that our physicians are board-certified surgeons — because they are,” Sono Bello spokesperson Mark Firmani said in response.

In her lawsuit, Webb testified that Sono Bello’s advertisements on television and online led her to believe the company employed only board-certified plastic surgeons.

Had she been told of Kim’s background in advance, “I wouldn’t have had the surgery done,” Webb testified in a 2024 deposition.

The parties settled the suit early this year under confidential terms.

Have you had liposuction, a “Mommy Makeover,” a tummy tuck, a Brazilian butt lift, or another type of cosmetic surgery? We’d like to hear about your experience. Contact our reporting team: https://kffhealthnews.org/news/article/share-your-cosmetic-surgery-story-with-us/

©2025 KFF Health News. Distributed by Tribune Content Agency, LLC.

Wall Street drifts around its all-time highs as gold keeps rising to records

posted in: All news | 0

By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — Most U.S. stocks are ticking higher on Wednesday, a day after breaking their seven-day winning streak, while the price of gold is pushing further past $4,000 per ounce.

The S&P 500 rose 0.1% and is near its all-time high set on Monday. The Dow Jones Industrial Average was down 20 points, or less than 0.1%, as of 9:35 a.m. Eastern time, while the Nasdaq composite was 0.3% higher.

Related Articles


Mary Kay is applying AI: Brand uses tech to simplify makeup choices


Tesla offers cheaper versions of 2 electric vehicles in bid to win back market share in tough year


Coolest Thing Made in Minnesota crowned after tens of thousands of votes


Charges: Maplewood man used dummy account to embezzle $384K from his employer


Interest in women’s sports is growing. Here’s how some women-owned companies are responding

AST SpaceMobile jumped 17% after Verizon Communications agreed to use its space-based network to offer service to its cellular customers when needed, starting in 2026. Verizon edged down by 0.1%.

The stock market is near records, but trading has been relatively muted recently following the U.S. government’s latest shutdown. That has delayed the release of several major economic reports, such as the monthly jobs report, which usually move the market. Stocks have been drifting without them or other signals to change forecasts for continued cuts to interest rates by the Federal Reserve, one of the major reasons for the stock market’s stellar performance since April.

Another force that’s pushed the market to records is the frenzy around artificial-intelligence technology.

Poet Technologies rallied 4.7% and added to its surge of 23.5% from Tuesday, when it said it raised $75 million in investment to accelerate its growth. The company sells high-speed optical engines and other products used in the AI systems market.

Dell Technologies likewise piled more gains onto its own rally from Tuesday, when it talked up growth opportunities related to AI, and rose nearly 6% for the biggest gain in the S&P 500.

AI-related stocks have broadly been on a tear. Chipmaker Nvidia came into the day up nearly 40% for the year so far. Oracle soared 70% over the same time, while Palantir Technologies more than doubled with a 140.9% surge.

But such performances have raised criticism that prices have gone too far, too fast and are reminiscent of the 2000 dot-com bubble that ultimately imploded and halved the S&P 500’s value.

Proponents say AI stocks are backed by big growth in profits, something that many dot-com stocks didn’t have. But the Bank of England nevertheless warned Wednesday of the rising risk that tech stock share prices pumped up by the AI boom could face a “sudden correction.”

“On a number of measures, equity market valuations appear stretched, particularly for technology companies focused on Artificial Intelligence,” policymakers at the U.K. central bank said in a report. With Big Tech companies accounting for an increasingly outsize share of stock market indexes, stocks are “particularly exposed should expectations around the impact of AI become less optimistic.”

Gold, meanwhile, continued its stellar year and rose further past $4,000 per ounce. Investors have traditionally seen gold as a way to protect against rising inflation, and its price has soared more than 50% this year.

Worries are high about big debt loads that the U.S. and other governments are building, which threaten to push inflation higher. Political instability around the world and expectations for rate cuts by the Fed are also helping to push up interest in gold.

The Fed will release the minutes from its last meeting later in the afternoon. That’s when the Fed cut its main interest rate for the first time this year and hinted that more may be on the way. It’s trying to support a slowing job market but also says it’s staying mindful of inflation, which remains above its target of 2%. Lower rates can give inflation more fuel.

In stock markets abroad, indexes rose in Europe following a weaker finish in Asia.

In the bond market, the yield on the 10-year Treasury eased to 4.10% from 4.14% late Tuesday.

___

AP Business Writers Matt Ott, Elaine Kurtenbach and Kelvin Chan contributed.

How much car insurance do I need?

posted in: All news | 0

How much liability insurance do I need?

To drive your car legally, you need at least the minimum amount of car insurance required in your state. But state-required car insurance levels aren’t generally high enough to cover every expense after an accident. To protect your finances, you’ll likely need more.

Related Articles


Mary Kay is applying AI: Brand uses tech to simplify makeup choices


Tesla offers cheaper versions of 2 electric vehicles in bid to win back market share in tough year


Coolest Thing Made in Minnesota crowned after tens of thousands of votes


Charges: Maplewood man used dummy account to embezzle $384K from his employer


Interest in women’s sports is growing. Here’s how some women-owned companies are responding

For example, almost every state requires you to have bodily injury and property damage liability coverage, which pay for other people’s injuries and property damage if you’re at fault. But while the average cost of a bodily injury liability claim in 2023 was $26,501, according to the most recent data from the Insurance Information Institute, that amount is already higher than the per-person minimum requirement in most states.

If the liability insurance limits on your policy are low and you’re found at fault for a serious accident, you may end up owing the other driver thousands of dollars more than your policy will pay out.

» MORE: Compare car insurance quotes

What is the recommended amount of car insurance coverage?

NerdWallet recommends you get enough car insurance to protect your assets, including your house. Otherwise you risk having to give up your assets to help cover accident-related costs. To find out the exact amount you need, calculate your net worth.

To do this, add up the value of all of your assets, including physical property and investments, then subtract any outstanding liabilities or debt you owe. Make sure your car insurance policy has enough bodily injury liability coverage to match that amount.

Umbrella coverage increases your coverage limits

Your policy should be able to cover the full cost of an accident without putting your home and other assets at risk, but insurance companies limit the amount of liability coverage you can get in an auto policy.

If you max out your carrier’s liability limit and still want more coverage, you can purchase umbrella insurance. Umbrella insurance adds additional liability coverage for both your car and home, often in $1 million increments. If you don’t have any assets to protect besides your car, you’re probably OK skipping umbrella insurance and only purchasing liability coverage.

» MORE: How to find the best umbrella insurance

Do I need comprehensive and collision coverage?

Liability coverage can help you deal with another driver’s bills if you cause an accident, but it won’t help you repair or replace your own car.

The term “full coverage insurance” typically describes an auto insurance policy with liability coverage as well as collision and comprehensive coverage. Unlike liability insurance, these two coverage types pay for damage to your own vehicle, regardless of who is at fault.

Collision coverage: Pays for damage to your car when you caused an accident.
Comprehensive coverage: Pays for damage to your car from situations outside of your control, like vandalism, theft or hitting a wild animal.

No states require comprehensive or collision coverage, but you’ll need them both if you finance a car. Comprehensive and collision coverage are especially important if you couldn’t afford to replace your car yourself if it were totaled. But if your car isn’t worth much or you’re willing to pay to replace it, these types of coverage might not be worth their cost.

Nerdy Tip If you do buy collision and comprehensive coverage, pay attention to the deductibles associated with each type. A deductible is how much you’ll be responsible for paying out of pocket before your insurance coverage begins paying for a claim. Collision and comprehensive deductibles generally range from $100 to $2,000. While higher deductibles mean lower monthly insurance bills, make sure you choose a deductible amount you could afford to pay after an accident.

Optional coverage types may be worth it

You may choose to add other types of car insurance to your policy besides liability, comprehensive and collision coverage, though you may not need to. Here are some other common kinds of car insurance you might come across, and situations when it might be worth adding them to your policy.

Uninsured/underinsured motorist coverage

If you’re involved in an accident with someone who doesn’t have insurance, or has only enough insurance to cover part of the damage they’re responsible for, uninsured motorist coverage and underinsured motorist coverage can pay for your medical bills and damage to your property.

Nearly half of states require one or both of these coverages, but they may be worth getting anyway if you decide not to get comprehensive or collision insurance.

Personal injury protection

Personal injury protection pays for you and your passengers’ medical expenses, lost wages and other costs after an accident, regardless of who’s at fault. Unlike liability insurance, personal injury protection covers your own expenses, not another driver’s.

You have to get personal property insurance in 12 states, and it’s optional in six more. Even if you’re not required to get personal property insurance, it’s worth considering as a supplement to your health insurance.

Medical payments coverage

Like personal injury protection, medical payments coverage helps cover medical expenses after an accident, regardless of fault. Unlike personal injury protection, medical payments coverage doesn’t cover lost wages or provide other benefits.

Maine and New Hampshire require medical payments coverage. If it’s not required where you live, it could still help you supplement your health insurance coverage.

Roadside assistance

Roadside assistance can send help your way if you need a tow, jump start, or other roadside services like fuel delivery or a tire change.

You might not need to pay extra for roadside assistance. You may already get these benefits if you’re a member of AAA or you have certain credit cards.

New car replacement

If your car was totaled, your comprehensive or collision coverage would replace it at its current value (that is, minus depreciation). This would be a problem if you totaled a new car, as new cars quickly lose value. But with new car replacement coverage, your replacement vehicle would be one of the same make and model.

This type of coverage may be right for you if you just bought a new car, but keep in mind that insurers only offer this coverage to vehicles that are under a few years old.

Gap insurance

If you lease or finance your car and total it, gap insurance would pay the difference between your car’s value (the amount your insurance will reimburse you) and the remainder of your loan or lease. Without it, you’d have to pay for the difference yourself.

This type of coverage is often required by leasing companies and auto lenders, but no states require it.

Rideshare insurance

Your regular car insurance policy won’t cover damage that happens while you use your car for business, like if you drive for Uber, Lyft or similar companies. Rideshare companies provide insurance coverage for the time you’re matched with a passenger and driving them to their destinations, but not while you’re waiting for a fare. You would need rideshare insurance to receive coverage during this time.

More From NerdWallet

How to Estimate Car Insurance Before Buying a Car
8 Ways to Get the Cheapest Car Insurance Rates Possible
How to Buy Car Insurance

Drew Gula writes for NerdWallet. Email: dgula@nerdwallet.com.