Capitol to Courthouse Florida Insurance Report–Friday, November 21, 2014
Nov 21, 2014
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. to 11:00 a.m.–Florida Hurricane Catastrophe Fund (“FHCF”) Proposed Rule Hearing. Tallahassee, Florida. Proposed amendments to Rule 19-8.010, “Reimbursement Contract,” would adopt the 2015-2016 FHCF Reimbursement Contract, including Addenda and an Optional Amendment. In addition, obsolete material would be removed. To view the Hearing notice, click here.
10:00 a.m.–Florida Workers’ Compensation Joint Underwriting Association Reinsurance Committee meeting; 10:00 a.m. To view the agenda, click here.
Daily Florida Insurance-Related News
Why did Florida escape hurricanes for 9 years?
A combination of strong wind shear, dry air and Saharan dust over tropical regions allowed Florida to escape a hurricane strike for a record ninth season, experts say. Ken Kaye reports for the Sun Sentinel.
Title insurer moves to Florida, but no decision on rate relief
A title insurer is relocating to Florida in the wake of changes including a tax break, officials said Thursday, but regulators said they are still studying whether to cut consumer rates or let companies keep what’s been called a windfall worth more than $30 million over five years, the Palm Beach Post reports.
Florida Reaches Settlement with Coventry Healthcare of Florida on HIV/AIDS Drug Pricing
For the second time in two weeks, the AIDS Healthcare Foundation thanked Florida Insurance Commissioner Kevin M. McCarty for brokering yet another AIDS-related agreement, this time with Coventry Healthcare of Florida, the Foundation announced.
Broker Who Pitched Florida School District Life Insurance Plan Found Dead in Caribbean
A Nashville broker who pitched an insurance plan to a Florida school district that officials there feared was too good to be true was found dead in the U.S. Virgin Islands this week, The Tennessean reports.
Escambia Man Indicted For Umbrella Insurance Fraud Scheme
An insurance agent licensed in Florida and other states was alleged to have defrauded high profile clients and their financial advisors by falsely representing to them via email that he had secured umbrella insurance policies for them when, in fact, he had not, Escambia.com reports.
Florida Company Reaches $40 Million Settlement Over Illegal Fax Ads
A Jacksonville-based company has reached a $40 million settlement in a class action lawsuit over claims the company sent unsolicited fax advertisements to consumers, Associated Press reports via Insurance Journal.
Redistricting documents to remain secret for 10 days, Florida Supreme Court rules
Unless a further stay is granted by the U.S. Supreme Court, the Florida redistricting records that have been the subject of protracted litigation will be unsealed at 3 p.m. on December 1.
Water will become a top issue in 2015 with the help of Amendment 1
House Speaker Steve Crisafulli said soon after taking the gavel during this week’s organizational session that water will be a policy and funding priority as the Legislature implements Amendment 1. Bruce Ritchie reports for SaintPetersBlog.com.
“Street view” goes undersea to map Florida reefs
U.S. government scientists are learning to use specialized fisheye lenses underwater in the Florida Keys in hopes of applying “street view” mapping to research and management plans in marine sanctuaries nationwide, Associated Press’ Jennifer Kay reports via the Daily Astoria.
Jose Oliva, Ray Rodrigues file for 2016 re-election bids
State Representative Jose Oliva, who is in line to be Florida House Speaker, filed paperwork for a 2016 re-election run, SaintPetersBlog.com’s Phil Ammann reports.
Kionne McGhee files for re-election; Michael Davis changes to House District 17 special election
After State Representative Kionne McGhee easily won re-election, he filed paperwork to for re-election in 2016, according to the Division of Elections, SaintPetersBlog.com’s Phil Ammann reports.
CFO Jeff Atwater has every reason to brag about Florida
If anyone expects to lead a round of cheers over Florida business landscape, it should be the state’s chief financial officer Jeff Atwater, SaintPetersBlog.com’s Phil Ammann writes.
Newest “America the Beautiful” Quarter Will Honor the Florida Everglades
If you collect the U.S. Mint’s America the Beautiful Quarters, you might be turned on by the collection’s December release — a quarter honoring Everglades National Park. SunshineStateNews.com reports.
Wyoming, US Virgin Islands Insurance Commissioners Leaving Posts
Two more insurance commissioners – Tom Hirsig of Wyoming, and Gregory Francis of the U.S. Virgin Islands – are leaving their posts, A.M. Best reports (subscription required).
Merle Scheiber: Streamlining Surplus Lines Reporting and Uniformity Through Technology
There’s nothing mysterious about what the Non-Admitted Insurance Multi-State Association does, explains South Dakota Insurance Director and NIMA Chairman Merle Scheiber in a PropertyCasualty360.com editorial opinion.
Russian Firms Face Huge Insurance Costs as Foreign Insurers Flee
Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an increasingly sick economy, Reuters’Jonathan Saul, Carolyn Cohn and Katya Golubkova report via Insurance Journal.
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