Capitol to Courthouse Florida Insurance Report: Monday, February 11
Feb 11, 2013
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.–Citizens Property Insurance Corporation (“Citizens”) Board of Governors meeting. Teleconference: (888) 942-8686; conference code: 5743735657#. Agenda includes consideration of a Florida Office of Insurance Regulation-approved wind-only takeout. To view the meeting notice, click here.
10:00 a.m.–State Board of Administration Audit Committee meeting. To view the meeting notice, click here.
Daily Florida Insurance-Related News
Weiss rates USAA, Citizens strong, other Florida insurers weaker
Jupiter firm offers ‘consumer-oriented’ view some dispute
Grades from Weiss Ratings might surprise homeowners accustomed to hearing debates in Tallahassee about the risky shakiness of state-run insurer Citizens – it gets an A plus for financial strength.
Blog: Insurers question metrics on high marks for Citizens, others
The insurance rating firm Weiss Ratings gave state-run insurer Citizens an “A+” but many other insurers operating in Florida did not fare quite as well.
Senate Considers Cutting Nearly 50,000 Property Owners from France, New York out of Citizens
Out-of-state property owners now using Citizens Property Insurance — of which nearly 50,000 have billing addresses in New York or somewhere in France — may be culled into private hands.
Senate panel unveils draft bill overhauling property insurance market
The Senate Banking and Insurance Committee released the rough sketches of a bill imposing massive changes on the property insurance market Wednesday, attempting to move as much of the state’s risk into the private sector as possible.
Tom Rooney Lands Bipartisan Support for National Homeowner Catastrophe Act
With areas still rebuilding from Hurricane Sandy, and before the blizzard named Nemo arose, U.S. Rep. Tom Rooney, R-Punta Gorda, picked up some bipartisan support from the Northeast for his continued efforts to pool resources and spread the risk of paying for future disasters.
A proposal that would reduce Citizens Property’s exposure
Citizens Property Insurance Corporation’s intended role is to be a residual market and serve as the state’s insurer of last resort. Unfortunately, this has not been the case for many years, and currently 23 percent of Florida property insurance is underwritten by Citizens.
Column: Windstorm rates could get blown up, up and away
Legislature seems eager to do insurance industry’s bidding
An ill wind is blowing from Tallahassee, and that means South Florida homeowners better batten down their wallets.
Shrinking Citizens still leaves ratepayers on the hook
Customers end up covering private insurers that fail
The Florida Senate is drafting proposals to shrink state-run property insurer Citizens and drive customers to private carriers. But ask Hope Leet if South Florida’s private insurance market feels like a reliable sanctuary right now.
Universal Property, Florida’s largest private insurer, to raise rates 14%
Universal Property & Casualty Insurance Co. received approval from the Florida Office of Insurance Regulation to raise homeowners insurance rates an average of 14.1 percent.
FEMA “no-build” list slowly dwindling
Working through a federal and local bureaucratic tangle, Florida Keys homeowners are slowly being removed from a list of properties barred from receiving federally subsidized flood insurance.
Florida Court Sides with Bank in Key Mortgage Liability Case
Florida’s highest court has ruled a homeowner cannot re-open a voluntarily dismissed foreclosure case despite allegations that the bank falsified documents, giving a win to banks in a closely watched ruling that could have affected thousands of cases in a state hit hard by the foreclosure crisis.
Florida voters support Medicaid expansion
Two separate polls find that if it was up to voters, an initiative to provide Medicaid coverage to the poor would win in a landslide.
Florida Agency for Health Care Administration Plans Change For Kids In Home Care
Trying to prevent what one official described as “white-knuckle moments” for families, the state plans to change the way it determines the home-based services that will be provided to children with highly complex medical needs, reports Jim Saunders of the News Service of Florida.
Greer trial promises headaches for Florida GOP
When the trial of former Republican Party of Florida chairman Jim Greer on corruption charges begins Monday, it will likely include testimony about questionable behavior and intraparty strife that will make both GOP leaders and rank-and-file members cringe.
The New Port Richey Republican says he will distribute more than $100,000 among charities in his district.
Aging South Florida bridges need costly repairs as money dries up
Hundreds of bridges older than 50 get maintenance rather than costly replacements
Up until the year it was set to be replaced, the Ocean Avenue Bridge in Lantana was repeatedly getting patched up.
Legislators show no urgency in dealing with Florida springs’ problems
The president of the state Senate says Florida should do more for its springs. Thousands of people have petitioned Gov. Rick Scott for more protection and restoration for the springs. A group of local government officials in North Florida has formed an activist group to push for legislation.
For hunters, pythons were far and few between
In all his years on the job, Rob Van Houdt had never seen anything like the human circus that unfolded at levees L-67A and L-67C over the past four weeks.
Vande Hey Appointed Deputy Insurance Commissioner in Minnesota
Minnesota Commerce Commissioner Mike Rothman has promoted Tim Vande Hey to deputy commissioner of the Insurance Division for the Commerce Department.
North Carolina’s Goodwin on Home, Auto Markets
Newly-re-elected commissioner hopes calls for auto reform don’t stifle homeowners reforms.
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