INSURANCE NEWS
Judge Sides With Florida Citizens in Another Win for DOAH Arbitration Plan
A Florida judge has given another win to Citizens Property Insurance Corp., finding that the state-created insurer’s arbitration endorsement is constitutional and enforceable. “Final judgment is granted in favor of Citizens and against the plaintiff as to this declaration that …
US Data Center Boom Slows Due to Power Grid Limits, Consultancy Says
US data center development has slowed because the power grid is reaching its limit to accommodate more large facilities, according to research from energy consultancy Wood Mackenzie. Developers added data centers that would consume about 25 gigawatts of electricity to …
US Charges Man Accused of Selling Gun to Old Dominion University Shooter
A man was charged week with selling a stolen gun to Mohamed Bailor Jalloh, a former member of the Army National Guard who used it to kill one person and wound two others at Old Dominion University, federal authorities said. …
TPG Launches Third Wave Brokerage, Which Acquires Palmer & Cay in Atlanta
In a three-way deal, TPG, an asset management firm, has launched an insurance brokerage with offices in South Carolina. That brokerage, Third Wave Insurance, has acquired Palmer & Cay, an insurance and employee benefits brokerage in Atlanta. Palmer & Cay, …
Starbucks May Be Neglecting Labor Dispute Risks, Shareholder Proxy Firms Warn
Starbucks may be neglecting the financial and reputational risks that stem from labor disputes, two proxy advisory firms are warning shareholders. The warnings come more than a year after contract talks between the company and its U.S. union, formed by …
AIG, McGill Announce Collaboration to Potentially Transform Subscription Market
McGill and Partners and American International Group said they collaborating to perhaps disrupt the subscription market—using agentic artificial intelligence to deploy capital to clients. AIG said the digital-first platform of the London-based independent broker allowed the insurer to conduct a …
Iran War Should Trigger Faster Exit From Fossil Fuel Dependence: UN Climate Chief
The disruption to energy markets caused by the Iran war is a lesson on the risks of relying on fossil fuels which should drive governments to wean their economies off oil and gas faster, the U.N. climate secretary told Reuters …
SiriusPoint Restructures Business, Now Operating Through Four Business Areas
SiriusPoint Ltd., the Bermuda-based specialty underwriter, announced changes to its business structure as part of the next phase of the company’s evolution. SiriusPoint will now operate through four business areas, including three globally focused P&Ls: Global P&C Programs, Global Reinsurance, …
A Backlash Against Data Centers Is Spilling Into French Municipal Election Races
In the town of Le Bourget outside Paris, Sofiane Milous, a candidate in France’s municipal elections, is vowing to reverse plans for a data center he says will intensify heat islands, worsen noise pollution and create few local jobs. The …
Why Is it so Easy for Iran to Shut the Strait of Hormuz?
Following through on an old threat, Iran has effectively closed the Strait of Hormuz, cutting off a vital waterway that normally carries about a fifth of global oil and liquefied natural gas supplies, in retaliation for U.S.-Israeli strikes. As oil …
Iowa Enacts Law Banning Local Gender Identity Protections
A new Iowa law bans local nondiscrimination protections on the basis of gender identity after the state became the first in the U.S. to rollback its civil rights code last year. The preemption law took effect Tuesday, as soon as …
After a Decade of Missteps, Corpus Christi Careens Toward Water Catastrophe
The imminent depletion of water supplies in Corpus Christi threatens to cut off the flow of jet fuel to Texas airports and other oil exports from one of the nation’s largest petroleum ports, triggering potential shockwaves through energy markets in …