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The regulation would have classified many small captive insurance arrangements as tax-avoidance arrangements.

This would be the first time a product in the market for insurance-linked securities specifically targets data-center risk.

"No scheme is too outrageous for us to investigate," said California Insurance Commissioner Ricardo Lara.

The policy defined a building as vacant unless at least 31% of its total square footage was being used to conduct customary operations.

Coordinated litigation tactics are squeezing the company's bottom line.

Winter Storm Fern is likely the fourth costliest U.S. winter storm on record.