INSURANCE NEWS

Supreme Court: Rastafari Can’t Sue Louisiana Prison Officials Who Cut Dreadlocks

The Supreme Court barred a former Louisiana inmate from suing prison officials who cut off his dreadlocks in violation of his Rastafari religious beliefs. The justices condemned what happened to the former inmate, Damon Landor. But they ruled that a …
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Amazon Sued by Australian Consumer Watchdog Over Prime Video Ads

Amazon.com Inc. has been sued by Australia’s consumer watchdog for introducing advertising to its Prime Video streaming service and then forcing existing subscribers to pay more to avoid the ads. The Australian Competition & Consumer Commission said Tuesday it has …
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Viewpoint: Boom in Hyperscale Data Centers Puts Re/Insurers to the Test

Hyperscale data center campuses represent the latest growth opportunity for the global re/insurance industry. Annual investment in these specialized facilities will likely surpass $300 billion by 2027 and the total insurable asset base for the roughly 11,000 data centers currently …
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It’s a Sweltering Summer. Can We Finally Wear Shorts to Work?

Last week, as temperatures in Europe soared and France recorded its highest-ever average temperature, Bloomberg conducted a poll of its clients — including traders, portfolio managers and strategists. The question was simple, but important: Is it ever appropriate to wear …
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Apple iPhone 18 Pro Supplier List, Parts and Photos Exposed in Tata Data Leak

Sensitive lists of components and suppliers, and photos of Apple’s upcoming iPhone 18 Pro models are part of files posted on the dark web by the ransomware group that stole data from the U.S. firm’s Indian supplier Tata Electronics, according …
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Iran Ratchets Up Talk of Controlling Hormuz Before New Talks

Iran reiterated its determination to control maritime traffic through the Strait of Hormuz, raising the stakes ahead of fresh talks in Qatar on formally ending its war with the US. Speaking to state television, Deputy Foreign Minister Kazem Gharibabadi said …
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Texas Reaches $34M Settlement With AstraZeneca for Illegal Kickback Scheme

Texas Attorney General Ken Paxton secured a settlement with AstraZeneca Pharmaceuticals to resolve claims that the company engaged in an illegal kickback scheme that improperly influenced prescriptions paid for by Texas Medicaid. Under the settlement, the company will pay $33,998,000.00 …
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Arthur J. Gallagher & Co. Acquires Cincinnati Benefit Solutions

Arthur J. Gallagher & Co. announced the acquisition of Ohio-based Cincinnati Benefit Solutions. Terms of the transaction were not disclosed. Cincinnati Benefit Solutions provides employee benefits services for small businesses in Cincinnati and nearby areas. Drew Locaputo and the Cincinnati …
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DOJ Closes Criminal Probe Into Abbott Over Baby Formula Plant, WSJ Reports

The U.S. Justice Department closed a criminal probe into Abbott Laboratories over its handling of a baby formula plant linked to potentially deadly bacteria and infant deaths, opting instead for civil penalties, the Wall Street Journal reported on Sunday. Reuters …
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Proxy Advisers Notch Third Legal Win Staving Off Republican ‘Anti-ESG’ Rules

A federal judge late on June 26 granted a preliminary injunction blocking an Indiana law requiring new disclosures from proxy advisers, marking a third legal victory for Institutional Shareholder Services and Glass Lewis against restrictions backed by Republican lawmakers. The …
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AssuranceAmerica Suffers Third-Party Data Breach, Customer Data Exposed

About three months after it detected suspicious activity within its network systems, AssuranceAmerica has started alerting consumers. The Atlanta-based managing general agency with about 9,500 agents selling personal auto, renters, and commercial auto policies in 14 states, said on March …
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Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling

Editor’s note: As some national news reports continue to claim that Florida’s property insurance crisis has endured and premiums keep rising, one Florida insurance executive offered a view from inside the industry, shaped by more than three decades in the …
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