Capitol to Courthouse Florida Insurance Report–Monday, December 15, 2014
Dec 15, 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
There are no events scheduled for today.
Daily Florida Insurance-Related News
Florida Joins States Allowing Electronic Proof of Auto Insurance
Florida is joining the ranks of 29 other states and allow drivers to show law enforcement officers their proof of automobile insurance through their cell phone and other electronic means. Insurance Journal’s Michael Adams reports.
Business associations and hospital groups, frustrated by two years of lawmakers rejecting Medicaid expansion under the Affordable Care Act, now are floating a plan aimed at using private insurers to draw $50 billion in federal aid over the next decade. John Kennedy reports for the “Post on Politics” blog.
A fresh forecast for Florida’s revenue expected today
Florida economists meet today to update their revenue forecast for next year’s state budget – which they earlier said was on track to be helped by a $1 billion surplus. John Kennedy reports for the “Post on Politics” blog.
Rick Scott’s inauguration events line up corporate sponsors
Corporations are lining up to sponsor Governor Rick Scott’s second term inauguration, at least in part, the Republican Party of Florida announced on Friday. SaintPetersBlog.com’s Phil Ammann reports.
Governor Scott visits New York City on recruitment trip
Governor Rick Scott is visiting New York City to try to recruit businesses and jobs to Florida, the Associated Press reports via SaintPetersBlog.com.
Florida continues to lead the nation in foreclosures
Even though foreclosure activity is down substantially for the year in the Sunshine State, Florida still leads the nation in foreclosures. Associated Press reports via the Lakeland Ledger.
Compared with other states, Florida’s average wages slip badly
The standard of living in Florida has declined even as most states show at least some modest gains, Robert Trigaux reports for the Tampa Bay Times on a recent Wall Street Journal study.
Healthy State of Florida pension fund may still face reform
As lawmakers prepare to renew the debate over revamping the state pension fund next year, Governor Rick Scott and the Cabinet received another report showing Florida’s $146 billion retirement plan is in very good financial shape. Lloyd Dunkelberger reports for the Daytona Beach News-Journal.
Florida turns out lights on solar rebates after 2015
Florida regulators have turned out the lights on a rebate program that benefits solar-energy consumers. Marco Santana reports for the Orlando Sentinel.
As feds let Indian tribes legalize marijuana, what will it mean for Florida?
Will marijuana be as legal as poker chips on Native American tribal lands in Florida? The Miami Herald’s Mary Ellen Klas reports via “Naked Politics” on last week’s U.S. Department of Justice memo.
Will the Seminoles Unionize their Florida Hard Rocks?
Is there a Seminole Tribe of Florida deal afoot to bring unions to the Florida Hard Rock Hotel and Casinos? Nobody is saying — not even to issue a denial. SunshineStateNews.com publisher Nancy Smith poses the question.
Bill Montford: The GOP’s Favorite Democrat in Tallahassee
There are several Democrats who work well with the Republican majority in the Florida Senate but Bill Montford is increasingly standing out from the pack. SunshineStateNews.com’s Jeff Henderson explains.
TRIA/NARAB Bill in Doubt after House Additions Sour Senate
Reauthorization of the Terrorism Risk Insurance Act hangs on a thread, with industry officials privately saying that either the Senate passes the House bill intact, or Congress is likely to go home without action on the TRIA bill, with its attached language re-creating the National Association of Registered Agents and Brokers. National Underwriter’s Arthur Postal reports via InsuranceNewsNet.com.
MetLife to buy back $1 billion more in shares as SIFI ruling awaits
MetLife. Inc. said its board has approved another $1 billion purchase of its common stock, as the company expects to be named “systemically important” by a new panel of federal regulators and therefore potentially subject to stiff but yet-to-be-determined capital rules. Marketwatch.com reports.
Life Insurers Use State Laws to Avoid as Much as $100 Billion in U.S. Taxes
The New York Times’ Mary Williams Walsh reports that insurers are taking advantage of fierce competition for their business among states, which have passed special laws that allow the companies to pull cash away from reserves they are required to keep to pay claims.
Louisiana Senator-Elect Cassidy expresses concern over flood rules, blocks executive order
U.S. Sen.-elect Bill Cassidy is seeking to block spending for an executive order he says could have far-reaching consequences for communities that battle flooding. Jonathan Olivier reports for Louisiana’s Daily Coment.
New Kansas Insurance Regulator Wants Robust Market
The next insurance commissioner in Kansas says creating a more robust market is a top goal and argues that greater competition will address problems with the federal health care overhaul. WIBW.com reports.
Bamboozled: Paying car insurance premiums for license plates that aren’t attached to a car
The New Jersey Division of Banking and Insurance said it’s not aware of any insurance regulations that require license plates to be turned in when a policy is cancelled. Karin Price Mueller reports for the New Jersey Star-Ledger’s “Bamboozled” column.
The New Frontier: Preparing for the Surge of Wearable Technology in the Workplace
Wearable technology is a new frontier that employers and safety professionals must prepare to address, EHS Today reports via Advisen.com.
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