Capitol to Courthouse Florida Insurance Report: Monday, February 08, 2016
Feb 8, 2016
Florida Fights Back Against Assignment of Benefits Abuse
Florida insurers, consumer and insurance advocates, as well as regulators, are hoping 2016 may finally be the year that legislators address the misuse of assignment of benefits for water loss claims that they say has become a rampant and costly problem in the state. Insurance Journal’s Amy O’Connor reports.
Lawmakers look at early start to 2018 Session
State House members Monday will consider an early start to the 2018 legislative session, similar to a decision that moved up the beginning of this year’s Session. THE NEWS SERVICE OF FLORIDA reports via SayfieReview.com.
Harmony seen at Session’s midpoint
Like a giant puzzle, all the pieces are there for lawmakers to complete their 60-day session on time, with a new state budget, major tax cuts and, possibly, a landmark gambling agreement. The Sarasota Herald-Tribune’s Lloyd Dunkelberger reports via the “HT Politics” blog.
House Budget includes $238 million in “member projects”
They may not make up a huge portion of the state’s roughly $80 billion budget, but so-called “member projects” spark turf wars, are hard fought until the end of the session and, in many ways, are the lifeblood that animates the budget process. Politico Florida’s Matt Dixon reports.
Massive looming deficits force lawmakers to find better way to fund state workers’ health insurance
Skyrocketing health care costs paid by taxpayers and minimal contributions from Florida’s 173,000 state workers and retirees have prompted the Legislature to search for ways to bring down costs for health insurance. Arek Sarkissian reports for TCPalm.com.
As consumer outrage grows, Florida Legislature refuses to cap rental car toll charges
Motorists outraged that rental car companies charge unexpected fees for unpaid highway tolls won’t be getting much sympathy from the Florida Legislature. Steve Bousquet reports via the Miami Herald.
Jack Nicklaus in hot water with Justice Department over filled wetlands at Jupiter golf club
Golf legend Jack Nicklaus is in legal hot water with the U.S. Department of Justice over construction work his companies performed on environmentally protected wetlands at The Bear’s Club, a 369-acre private golf course community in Jupiter which the six-time Masters champion co-developed in 1999. Francisco Alvarado reports for FloridaBulldog.org.
Michigan Adjusts Insured Claim Caps for Property and Casualty Guaranty Association
The Michigan Department of Insurance and Financial Services has adjusted the insured’s net worth limit and covered claim cap for determining the status of a claim against the state’s Property and Casualty Guaranty Association, Insurance Journal reports.
NAIC Elects New Secretary Treasurer
During a Plenary meeting of the National Association of Insurance Commissioners on February 7, members elected Wisconsin Insurance Commissioner Ted Nickel to fill the vacant President-Elect position.
U.S. Court Says Foreign Wealth Funds Not Always Immune from U.S. Fraud Claims
Foreign sovereign wealth funds are not automatically immune from U.S. lawsuits claiming that they defrauded investors into buying securities in the United States by making misleading statements outside the country, the federal appeals court in Manhattan ruled. Reuters’ Jonathan Stempel reports via Insurance Journal.
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