Capitol to Courthouse Florida Insurance Report: Monday, March 31
Mar 31, 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
9:00 a.m.–State Board of Administration/Florida Hurricane Catastrophe Fund (“FHCF”) Proposed Rule Hearing. Tallahassee, Florida. To view the hearing notice, click here.
- Proposed amendments to Rule 19-8.013, “Revenue Bonds Issued Pursuant to Section 215.555(6), F.S.,” would conform the Rule to legislation that changed the name of the Florida Hurricane Catastrophe Fund Finance Corporation to the State Board of Administration Finance Corporation, and to make other editorial changes.
- Proposed amendments to Rule 19-8.029, “Insurer Reporting Requirements,” would adopt the Data Call and other applicable requirements for the FHCF 2014-2015 Contract Year, revise the Rule and Forms to provide for online reporting of exposure and clarify the treatment of certain mixed-use structures.
- Proposed amendments to Rule 19-8.030, “Insurer Responsibilities,” would adopt the examination instruction forms applicable to the FHCF 2014-2015 Contract Year, require online loss reporting and address implementation of the online reporting system.
1:00 p.m.–FHCF Advisory Council meeting. Review public comments from the 9:00 a.m. Rule hearing. Teleconference: (888) 670-3525; conference code: 7135858151. To view the meeting notice, click here.
Daily Florida Insurance-Related News
Legislature may reject Atwater’s call for property insurance claims consumer protections
Florida’s chief financial officer went to the Legislature this spring with a simple request: grant additional protections to customers dealing with property insurance companies, Associated Press’ Gary Fineout reports via SaintPetersBlog.com.
David Jolly introduces bill to extend National Flood Insurance Program reform
Pinellas County’s newest Congressman, U.S. Rep. David Jolly, is wasting no time getting down to business, Suzette Porter reports for SaintPetersBlog.com.
Florida Woos Private Flood Insurance, But Trickle Likely
While individual insurers might dip a toe in the would-be private Florida flood insurance market, premiums would need to rise 200 percent to 400 percent generally to get private insurers interested on a large scale, a leading industry group says. After public outcry, this month Congress capped federal increases at 18 percent a year for primary homes, the Palm Beach Post’s Charles Elmore reports.
Insurers cheer lower Florida PIP claims, cite 2012 law
Insurance industry trade groups Friday lauded a report released this week by the National Insurance Crime Bureau showing questionable Florida personal injury protection (PIP) claims stemming from auto accidents fell by 7.7 percent last year, and claimed a 2012 state law was largely responsible, The Florida Current’s Gray Rohrer reports.
- To read the National Insurance Crime Bureau press release, click here.
- To read the National Insurance Crime Bureau report, click here.
Prescription insurance overhaul bill to go before Senate Banking and Insurance
A bill that would expand drug prescription formulas used in plans under State Managed Medical Assistance contracts will make its final committee stop on Tuesday amid staunch opposition from the business industry, The Florida Current’s Arek Sarkissian reports.
Former Head of Mutual Benefits Found Guilty
Prosecutors obtained their final conviction in the massive Mutual Benefits Corp. fraud last week, Shaun Bevan reports for South Florida Business Journal.
Man Charged with Defrauding over 270 Floridians in Insurance Scam
David Glincher has been charged with theft, white collar crime, and fraud for allegedly filing car insurance claims on behalf of consumers who either were unaware of the filings or never received claim payouts, Steven Meyerowitz reports for National Underwriter’s PropertyCasualty360.com.
Florida Legislature budget approval process starts this week
Apart from hundreds of proposals for new legislation, starting this week both chambers in Tallahassee will work on what many see as the Legislature’s most essential responsibility – approving budgets for the fiscal year beginning July 1, SaintPetersBlog.com’s Phil Ammann reports.
- Democracy in action? The problem is the budget process not the spending, House Democrat says
- Measures rise and fall at legislative midpoint
- Where the Legislature is at on key issues at the halfway point
Legislative Battle Underway Over 2019 Florida High Court Picks
The future of the Florida Supreme Court is sparking a legislative battle over whether the state’s next governor – or the governor after that – will have a say in who will be on the court, Associated Press’ Gary Fineout reports via Insurance Journal.
House Democrats ready to block gambling agreement between Rick Scott and the Seminole Tribe
Florida House Democrats are prepared to block a renewed Compact with the Seminole Tribe if the deal does not contain more gaming for South Florida pari-mutuels, THE NEWS SERVICE OF FLORIDA’s Dara Kam reports via SaintPetersBlog.com.
Linda Stewart Faces Tough Challenge to Keep House Seat in Orange County
Having won a tight race against Bob Brooks in 2012, Linda Stewart can expect another close fight in November as she looks to keep her seat in the Florida House, Jeff Henderson reports for SunshineStateNews.com.
Louisiana Sinkhole Swallows More Trees, Burps Gas
Officials say the 29-acre sinkhole in Louisiana’s Assumption Parish swallowed six cypress trees on March 26 and had its first deep burp of gas and fluid since late August, Associated Press reports via Insurance Journal.
North Carolina Has its First Captive Owned by a Public Company
The Pantry, Inc., based in Cary, North Carolina, has formed Cellarium Insurance Company, Inc., a pure captive insurance company licensed by the North Carolina Department of Insurance, Steven Meyerowitz reports for National Underwriter’s PropertyCasualty360.com.
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