Capitol to Courthouse Florida Insurance Report–Monday, August 11, 2014
Aug 11, 2014
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Daily Florida Insurance-Related Events
There are no Florida insurance-related events today.
Daily Florida Insurance-Related News
Florida’s Citizens Insurance Defends Travel Expenses Questioned By Governor Scott
Florida Governor Rick Scott is calling on the top official of the state-backed property insurer to explain why the insurer has deviated from its limitations on overseas travel, Insurance Journal’s Michael Adams reports.
Ten Years Later, Memories of Hurricane Trio Remain Sharp
The three hurricanes of 2004 combined to inflict unprecedented mayhem in Polk County, destroying 1,784 homes and businesses and damaging more than 50,000 structures. The total economic damage was estimated at $1.2 billion – $770 million of that from Charley – and the triad of storms generated more than 2 million cubic yards of debris, forcing clean-up costs of $32 million, Gary White reports for the Lakeland Ledger.
Florida’s homeowners insurance market is strong
The Florida homeowners insurance market is the strongest it has been in 10 years. Florida companies, which make up a majority of this market, have built $4.5 billion in surplus, $16 billion in reinsurance capacity and renewed profitability that has created new competition in the market, Florida Insurance Commissioner Kevin McCarty writes for the Ocala Star-Banner.
Richard S. Olson, director of the Extreme Events Institute at Florida International University, said companies have a growing incentive to reduce the risk of disaster damage to suppliers and customers because the insurance and reinsurance industries increasingly account for such risk in pricing their coverage. Mike Seemuth reports for the Miami Herald.
A crash course: Why do so many cars smash into buildings?
Whether it’s speed, crashes or police pursuits, cars bursting through buildings are all too routine. And while these types of crashes aren’t formally tracked in South Florida, rescuers get a car vs. building call at least every few weeks, the Miami Herald explains.
Florida Among Most Expensive States to Drive
Several of the top five most expensive states to operate a car may come as a surprise: Wyoming is the priciest overall ($2,705), followed by Louisiana ($2,555), Florida ($2,516), Mississipi ($2,487), and New Jersey ($2,421), Brad Tuttle reports for TIME Magazine.
Naples packing plant workers back in court
Workers from a Naples vegetable and fruit packing plant are headed back to court as they face charges related to alleged workers comp fraud, the Associated Press reports via the Miami Herald.
Early voting starts today in some Florida counties
Election supervisors, worried that the redistricting brouhaha will confuse voters, have this message: The August 26 primary is still on, and early voting is set to begin in some Central Florida counties starting today, Susan Jacobson reports for the Orlando Sentinel.
Medicaid expansion issue key in Rick Scott vs. Charlie Crist
Expanding Medicaid to an additional 1 million Floridians under President Barack Obama’s new health law is turning into one of the biggest issues of this year’s gubernatorial race, Associated Press’ Kelli Kennedy explains via SaintPetersBlog.com.
Judge won’t reinstate candidacy for Florida House hopeful from Miami Beach
A Miami Beach publicist won’t be on the ballot in Florida House District 113, a judge ruled Friday. The Miami Herald’s Kathleen McGrory reports via “The Buzz” blog.
Florida Lawmakers’ Personal Wealth Keeps Growing
Financial statements filed with the Florida Ethics Commission show some politicians grew their personal wealth substantially last year. Members of the governor’s Cabinet increased their wealth by an average of 51 percent, FloridaWatchdog.org’s Marianela Toledo reports via SunshineStateNews.com.
Nasty governor’s race spells trouble for Florida’s future
The negative governor’s campaign raises the prospect that Florida’s next governor will come to office with no mandate and no clear agenda, Steve Bousquet and Mary Ellen Klas report for the Miami Herald.
Uber, Lyft Given OK to Operate in Virginia
Virginia is allowing ridesharing companies Uber and Lyft to operate under a temporary agreement between the companies and the state, the Associated Press reports via Insurance Journal.
California Insurance Broker Pays Off Lawsuit With Buckets of Coins
A California-based insurance broker settled a lawsuit with a Los Angeles man by dropping off buckets full of thousands of quarters, nickels, dimes and pennies, Associated Press’ Robert Jablon reports via Insurance Journal.
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