Capitol to Courthouse Florida Insurance Report: Friday, December 14
Dec 14, 2012
To go directly to the section of your choice, click on a hyperlink below. Other hyperlinks to meeting information, bills and news are noted in bold type.
Daily Florida Insurance-Related Events
9:00 a.m.–Citizens Property Insurance Corporation Board of Governors meeting. Teleconference: 888-942-8686; participant code: 5743735657#. To view the meeting materials, click here.
12:00 p.m.–Florida Market Assistance Plan Board of Governors meeting. Teleconference: 888-942-8686; participant code: 5743735657#. To view the meeting materials, click here.
As private companies sour on loan program, Citizens to ready clearinghouse
Citizens Property Insurance Corp. CEO Barry Gilway said most private companies would not sign up for the controversial surplus notes program, but hopes a new “clearinghouse” entity can be created next year to help keep new policies out of the state-run company.
Citizens committee balks at new coverage option
Citizens Property Insurance Corp. officials don’t want to offer a “piece of garbage” policy mandated by a new law, but regulators are asking for expanded coverage at a lower cost for the new policy.
Editorial: More evidence that Citizens’ $350 million plan won’t work
Gov. Rick Scott made a show this week of demanding more oversight of Citizens Property Insurance Corp. To understand the governor’s real priority for the state-run insurer of last resort, however, check his remarks two weeks ago at the annual insurance industry meeting.
R-Street Institute: Citizens Property Bad for Stability of Florida Economy
Advocates of expanding or retaining The Florida Hurricane Catastrophe Fund at its current level are either misguided or knowingly peddling false coverage.
In sports terms, 2012 has been what one could call a rebuilding year, as P&C carriers looked to recover from a disastrous 2011 and a string of heavy losses.
New, massive sinkhole opens up behind Lake Mary home
A massive sinkhole opened up Wednesday in the backyard of a Lake Mary home whose owners were forced out several months ago because of sinkholes.
Claude Mueller, who formerly served the Florida Office of Insurance Regulation as Director of Property and Casualty Financial Oversight, joined the law and governmental consulting firm of Colodny Fass& Webb in December 2012.
PIP reform hasn’t lowered premiums enough, critics say
Starting in January, auto insurance premiums are supposed to go down, but the big question is by how much.
Florida to let Washington make health care decisions
When uninsured Floridians sit at their computers next October to select mandated health insurance, they will shop options compiled by the federal government, not the state.
Florida Company Setting Up Rhode Island Health Exchange
A Florida-based consulting firm has been awarded an $18.9 million contract to help the state set up its new health benefits exchange, through which uninsured Rhode Islanders will be able to obtain subsidized insurance plans, according to documents obtained through a formal records request.
Proposed Florida Alimony Reform Legislation Tied to “Decreasing Term” Life Insurance
Florida Alimony reform advocates have secured the support of two state lawmakers, and with their help will return to Tallahassee during the upcoming legislative session that begins in March to secure passage of the organization’s bill to overhaul the state’s alimony laws.
Scott cites Florida as a population magnet
Gov. Rick Scott today touted a U.S. Census report showing that Florida was among the nation’s leaders in attracting residents from other states in the last year as another sign of the state’s improving economy.
THE NEWS SERVICE OF FLORIDA: Regulators approve $350 million increase for Florida Power & Light
After tweaking a controversial settlement agreement, state regulators Thursday approved a plan that will lead to Florida Power & Light increasing base electric rates by $350 million in January.
Supreme Court strikes down loud-stereo law
Justices say the First Amendment protects self expression of motorists who crank up the volume.
Florida Senator Chris Smith makes history this year as state’s top elected Democrat
Four years ago, Democrat Christopher “Chris” Smith of Fort Lauderdale was elected to the Florida Senate, one of a small number of African-Americans in Florida’s most exclusive legislative body.
Louisiana Last Resort Insurer Weighing Options to Close Budget Gap
Louisiana’s state-run property insurer of last resort is considering ways to close its multimillion-dollar budget gap, and either option would lead to increased costs to homeowners covered by traditional insurance companies.
New Orleans Inspector General criticizes city’s workers’ compensation program
New Orleans needs to do a better job of managing its workers’ compensation program, the office of the inspector general said in a report released Thursday.
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