Capitol to Courthouse Florida Insurance Report: Monday, June 10
Jun 10, 2013
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Daily Florida Insurance-Related Events
There are no Florida insurance-related events scheduled for today.
Daily Florida Insurance-Related News
Blog: Fasano threatens emergency meeting of board over condo insurance charges
State Representative Mike Fasano is threatening legislative action if the director of the Florida Hurricane Catastrophe Fund doesn’t back down from a ruling that Fasano says could cost condominium owners throughout the state thousands of dollars in rate hikes, Mary Ellen Klas writes for the Miami Herald’s Naked Politics blog.
Three big-ticket ZIP codes at high risk for storm surge damage
Three Palm Beach County ZIP codes – in Palm Beach, Palm Beach Gardens and Jupiter – remain in the top 10 in South Florida in terms of potential storm surge loss, according to a report issued last week, reports Eliot Kleinberg of the Palm Beach Post.
Editorial: Citizens Property Insurance — Governor Scott’s Stormy Policy
Florida Governor Rick Scott signed legislation that reforms state-run Citizens Property Insurance Corporation on May 29. While the new law contains some needed improvements, its primary aim is controversial: pushing homeowners away from Citizens and toward private insurance companies, the Lakeland Ledger’s Editorial Board writes.
Issues Facing Citizens Property Insurance
With the start of hurricane season, Facing South Florida takes a deeper look at Citizens Property Insurance and its myriad problems. CBS4′s Jim DeFede examines Citizen’s decision to award a $52 million contract to a company that was created eight months ago.
Letter to the Editor: Citizens blowing wind at policyholders
A letter to the Sun-Sentinel editor states “My renewal is coming up for wind insurance through Citizens Insurance. I just received this ‘important Information’ form letter from Citizens. It wants to let me know that I am, as a policyholder, subject to surcharges and assessments.”
Column: Can insurance upstarts be trusted to replace Citizens?
In the past few weeks, just as hurricane season arrived, thousands of South Florida homeowners insured by state-run Citizens have opened mailboxes to find takeover offers by small new companies, writes Michael Mayo of the Sun Sentinel.
Florida Governor Rick Scott Signs Bill Limiting State Review of Health Insurance Rates
Florida Gov. Rick Scott has signed a bill that removes the ability of state regulators to challenge health insurance rates for a two-year period, reports Gary Fineout of the Insurance Journal.
Governor signs bills to speed foreclosures, require fairness for cancer drug charges
Gov. Rick Scott signed 34 bills Friday, The Florida Current reports. Other bills make it easier for landlords to evict tenants, attempt to ease prescription costs in workers’ comp cases, and will keep the state’s prescription-drug monitoring database running.
After two unsuccessful Congressional runs as a Democrat, Jim Roach is attempting another try for the Cape Coral House District 77 seat currently filled by Republican Rep. Dane Eagle, Phil Ammann reports for SaintPetersBlog.com.
The National Association of Insurance Commissioners has set up a call center to assist with adjuster licensing in the aftermath of the tornadoes that hit central Oklahoma in May.
National Association of Insurance Commissioners Releases 2012 Insurance Department Resources Report
The National Association of Insurance Commissioners today released the first volume of the 26th edition of the Insurance Department Resources Report, which outlines the resources utilized by state insurance departments to monitor marketplace solvency and protect consumers.
Hurricane Insurance Causing a Storm in Texas Legislature
As they do every year, a week ago state officials reminded all Texans that hurricane season, which is from June 1 through Nov. 30, has arrived, reports Enrique Rangel of the Lubbock Avalanche-Journal.
24 states approve electronic proof of insurance coverage
It is getting a lot easier in many states to show proof of insurance coverage during a traffic stop. In what has become one of the hot insurance-related legislative trends, 17 states passed laws this year allowing drivers to show proof of insurance using a smart phone. This brings to 24 the states that say “yes” to electronic proof of coverage, according to the Property Casualty Insurance Association of America.
U.S. Insurers Financially Prepared for Hurricanes in 2013: Fitch
There is sufficient capacity available in insurance and reinsurance markets to provide sufficient coverage and withstand potential losses from hurricane related perils this storm season, according to Fitch Ratings’ annual hurricane season report.
Travelers To Buy Canadian Insurer For About $1.1 Billion
Property and casualty insurer The Travelers Cos. will spend about $1.1 billion in cash to buy The Dominion of Canada General Insurance Co. and strengthen its reach north of the U.S. border, reports The Associated Press.
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