Capitol to Courthouse Florida Insurance Report–Friday, September 12, 2014
Sep 12, 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
10:30 a.m.–Florida Citizens Property Insurance Information Systems Advisory Committee meeting. Teleconference: 866-361-7525; access code: 4869641229#. To view the meeting notice, click here.
Daily Florida Insurance-Related News
Politifact Rates Crist Property Insurance Claim “Mostly True”
Florida property insurance rates have been rising since Crist’s last year in office, in part because companies sought to catch up from limits placed on them by his 2007 legislative push after premiums rocketed out of control. That’s a bit of additional information Crist didn’t include in his attack on Scott, but his statement is still accurate, Politifact reports.
Citizens review clears managers, skeptics unwowed
An internal review released Thursday by state-run Citizens Property Insurance saw no problems with managers who took jobs with companies doing business with the insurer, but not everyone found it convincing, reports Charles Elmore in the Palm Beach Post’s “Protecting Your Pocket” blog.
Rising seas force landowners to embrace once-reviled “living shorelines”
While some coastal property owners recoil at the idea of anything marring their view of the water, many are coming to a stark realization: “Living shorelines” — with native grasses and rock or oyster-reef breakwaters — may be the only option left for countering rising seas and eroding shoreline, William Raab reports for Environmental and Energy News.
Property insurance in Florida can be confusing – and costly, Ocala Star-Banner’s Editorial Board writes.
Regency Square Mall among bidders for Citizens Property Insurance Jacksonville operations center
Six property owners, including a representative for Regency Square Mall, bid in the latest round to land a consolidated Jacksonville operations center for Citizens Property Insurance, Karen Brune Mathis reports for the Jacksonville Daily Record.
Miami Car Insurance Costs Third-Highest In Nation
The Miami area has the third highest car insurance premiums among the 25 largest metropolitan areas in the United States, according to insuranceQuotes.com, the Miami Herald reports via InsuranceNewsNet.com.
55 attorneys show up for auto insurance battle
Lawsuits from around the country over auto repair shop bills to insurance companies have been consolidated in Orlando for the purposes of streamlining court hearings, Orlando Sentinel’s Paul Brinkmann reports.
Obscure Florida Sales Tax Loophole Brings Uptick in Montana License Plates
Consumers can duck the Florida sales tax even if they buy the vehicle in Florida, provided the car, truck or van is registered in Montana in the name of the company, Patricia Sagastume reports for the Miami Herald.
Former Insurance Executive Fraud Mastermind Appeals Sentence
The man who masterminded an $800 million Florida insurance scam that defrauded tens of thousands of investors is appealing his 20-year prison term, Insurance and Financial Advisor News reports.
Chris Christie campaigns with Rick Scott Today
Governor Chris Christie of New Jersey will campaign Friday with Governor Rick Scott in Panama City and Crawfordville.
If Thrasher goes to FSU, his Senate seat is up for grabs
State Senator John Thrasher is among four finalists to become Florida State University’s next president. He has made clear that if he gets the job he will step down from the Legislature, Tampa Bay Times’ Tia Mitchell blogs on “The Buzz.”
Conservation Amendment 1 critics prepared for passage, but weary
Florida voters will most likely approve Amendment 1, a constitutional amendment requiring billions of dollars to be set aside for land conservation and a variety of environmental projects, Phil Ammann reports for SaintPetersBlog.com.
New survey shows partisanship is a big problem in Florida politics
A survey released today shows that Floridians find partisanship to be the biggest issue facing elected officials when solving problems in the state, Janelle Irwin reports for SaintPetersBlog.com.
FBI raid targets sober home owner in West Palm Beach
FBI agents descended on a dilapidated West Palm Beach condominium early Thursday morning after a months-long investigation into a sober-living operation that is buying up units to rent to recovering addicts, Kimberly Miller and Matt Morgan report for the Palm Beach Post.
Fitch says surplus lines remain strong; growth to continue in 2015
Surplus lines underwriters outperformed the property and casualty insurance industry’s combined ratio by an average of 10 percentage points for the 2009-2013 period, according to a new report by Fitch Ratings. National Underwriter’s Arthur Postal notes the story for PropertyCasualty360.com.
NAPSLO: Why the Nonadmitted and Reinsurance Reform Act is critical for the excess and surplus market
NAPSLO Executive Director Brady Kelly reports in National Underwriter’s PropertyCasualty360.com that his organization has adopted guiding principles on uniformity in state surplus lines regulatory requirements.
What’s new with TRIA? Nothing at all
There appears to be no momentum for House action on legislation reauthorizing the federal backstop on terrorism risk insurance during the current two-week session, National Underwriter’s Arthur Postal reports for PropertyCasualty360.com.
New Hampshire Governor Creates Workers’ Compensation Commission
New Hampshire Governor Maggie Hassan has issued an executive order creating a new commission to recommend ways to reduce the state’s workers’ compensation medical costs, Insurance Journal reports.
Delaware Insurance Commissioner Karen Weldin Stewart announced that she has named Jerry Grant as communications director for the Department of Insurance, Insurance Journal reports.
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