Capitol to Courthouse Florida Insurance News: Friday, July 19, 2013
Jul 19, 2013
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Daily Florida Insurance-Related Events
There are no insurance-related events scheduled today.
Daily Florida Insurance-Related News
Insurance companies on consumer panel defend industry practices from critics’ censure
Insurance company representatives defended industry practices criticized by consumer advocates and trial lawyers Wednesday during a meeting of a panel convened by state Insurance Consumer Advocate Robin Westcott that will submit recommendations to state lawmakers, Gray Rohrer writes for The Florida Current.
Why HCI Group Is A Good Bet To Weather Storms
Putting the terms “property and casualty insurance” and “Florida” anywhere near each other can send underwriters and investors heading for the hills, an investor writes for SeekingAlpha.com.
Florida Department of Children and Families’ chief Wilkins resigns; interim director appointed
David Wilkins resigned as secretary of theDepartment of Children and Families on Thursday to “pursue opportunities in the private sector and spend more time with his foundation,” according to a press release from Gov. Rick Scott’s office, The Florida Current reports.
Rick Scott Rejects Call for Special Session in Meeting With Protesters
Gov. Rick Scott rejected a call for a special session on the Stand Your Ground law as he met late Thursday with student protesters who have spent most of the past three days camped outside his Capitol office, SunshineStateNews.com reports.
Why only six on Florida juries? Legislator to push for 12 in wake of Zimmerman verdict
With all eyes on Central Florida for the George Zimmerman trial and its aftermath, one question keeps surfacing: Why are juries made up of just six people, Orlando Sentinel reporter Amy Pavuk asks?
No decision in round two of “Docs vs. Glocks” in Miami federal appeals court
Lawyers representing Florida doctors sparred with state government attorneys Thursday in Miami federal appeals court over whether physicians have the legal right to ask their patients about gun ownership during medical consultations, Jay Weaver reports for the Miami Herald.
Gaetz, Weatherford to Education Commissioner: Drop National Education Standards Common Core Test
Education leaders in the Florida Senate and the Speaker of the House wantEducation Commissioner Tony Bennett to quit plans to replace the FCAT test with one designed for Common Core Standards, The Florida Current reports.
Tampa Bay Gets Crowded With Florida Senate President Hopefuls
Sen. Tom Lee said when he decided earlier this month to run for Senate president, he did so because other lawmakers in Tampa Bay were running for the same post, Michael Van Sickler reports for Tampa Bay Times.
Florida Republican Party revives empty chair theme
Florida’s Republican Party is taking a page from one of its nemesis’ playbook to attack the former Republican-Governor-turned-Democrat Charlie Crist. Thursday the RPOF announced it has revived the www.emptychaircharlie.com website, The Florida Current reports.
Eric Eisnaugle Looks to Return to the Florida House in 2014
With Florida House Majority Leader Steve Precourt, R-Orlando, facing term limits, a familiar face is looking to replace him in representing parts of Orange County: former Rep. Eric Eisnaugle, writes Kevin Derby for Sunshine State News.
Florida League of Cities honors Senator Latvala and State Representatives Hooper and Peters
The Florida League of Cities honored state Sen. Jack Latvala of Clearwater, Rep. Ed Hooper of Clearwater and Rep. Kathleen Peters of South Pasadena with the 2013 Legislative Appreciation Award, writes Peter Schorsch of SaintPetersBlog.com.
Using Outdated Data, FEMA Is Wrongly Placing Homeowners in Flood Zones
When Donna Edgar found out that new flood maps from the Federal Emergency Management Agency would place her house in a high-risk flood zone, she couldn’t believe it, ProPublica reports in National Underwriter’s PropertyCasualty360.com.
The Property Casualty Insurers Association of America (PCI) has issued the following statement in response to the Financial Stability Board’s (FSB) vote to designate certain insurance companies as Global Systemically Important Insurers (G-SIIs) and the International Association of Insurance Supervisors (IAIS) methodology and policy measures, Insurance Journal reports.
G20 to Require Largest Insurers to Hold More Capital from 2019
Reuters Huw Jones reports that the largest global insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said on Thursday.
North Carolina Residual Market Issues $500 Million in Cat Bonds; Rate Hikes Go Into Effect
North Carolina’s two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following hurricanes and other named storms, Michael Adams reports for Insurance Journal.
Minnesota Participating in NAIC Insurance Climate Change Survey
Minnesota has joined California, New York, Connecticut and Washington state in requiring insurers to respond to the Climate Risk Survey adopted in 2009 by the National Association of Insurance Commissioners, Insurance Journal reports.
Louisiana Clarifies Insured Loss Estimate from Hurricane Katrina
A recent report by financial website Kiplinger rated Louisiana as the most disaster prone state in the nation. News reports on this story have cited loss estimates of $3 billion for Hurricane Katrina and $2 billion for Hurricane Gustav, Insurance Journal reports.
Insurer Loss Ratios High in Oklahoma After Years of Extreme Storms
The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates above the $5 billion mark, were extreme examples of a years-long pattern of storms that has the insurance industry wondering what’s next, M. Scott Carter reports for Insurance Journal.
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