Capitol to Courthouse Florida Insurance Report – Thursday, January 25, 2018
Jan 25, 2018
Double-Digit Rate Increases Forecast For Florida Reinsurance Renewal By S&P
Given the magnitude of the Insurance Industry losses suffered in Regions affected by Major Hurricanes in 2017, Rating Agency Standard & Poor’s anticipates a continuation of the trend seen in January for rising rates, forecasting double-digit rate increases at the Florida and Caribbean Renewals later this year. Artemis.bm reports.
Agents Take Message of Preventing AOB Abuse to Florida Capitol
About 125 Insurance Agents marched along with Consumer Advocates and others at the Florida Capitol on Wednesday to call for measures to curtail Assignment-of-Benefits Abuse. Insurance Journal reports via the PCI SmartBrief.
House Considers Bill Allowing Flu Tests, Treatment At Pharmacy Counter
As the Nation faces another aggressive Flu Season in 2018, potentially one of the worst in several years, a Florida Lawmaker wants to allow testing and treating Influenza right at the pharmacy counter. FloridaPolitics.com’s Peter Schorsch reports.
2,000 Pensacola Beach Condo Owners Scramble To Find Forms For Tax Lawsuit
More than 2,000 Pensacola Beach Condominium Owners have been tasked with providing Property Appraisal, Insurance, Tax and other Documents before March 9 in the ongoing Lawsuits challenging whether Escambia County can collect Property Taxes on Leased Beach Land. Melissa Nelson Gabriel reports for the Pensacola News Journal.
Florida House Poised to Approve Measure to Limit Taxes
The Florida House could vote Thursday to approve a Proposed Constitutional Amendment that would make it harder to raise taxes or fees. THE NEWS SERVICE OF FLORIDA reports via FloridaPolitics.com.
Ex-Lawmakers Turned Down For Florida Public Service Commission Post
Governor Rick Scott will use the recommendations as he makes an Appointment to the Five-Member Public Service Commission, which regulates utilities such as Florida Power & Light, Duke Energy Florida, Gulf Power and Tampa Electric Co. THE NEWS SERVICE OF FLORIDA reports via FloridaPolitics.com.
Car Transporter Will Expand Port Everglades Operations
Port Everglades will soon become the scene of tens of thousands of Annual Car Imports and Exports after Broward County Approved a Lease allowing an Ocean-Going Shipper to expand its Terminal Business.
SEC Opens Investigation Into GE’s Insurance Unit Accounting
General Electric said Wednesday the Securities and Exchange Commission has opened an Investigation into the beleaguered Industrial Giant’s Disclosure that a Miscalculation in its Insurance Unit could cost the Company $15 Billion.
Oklahoma Insurance Commissioner Tapped To Chair Antifraud Task Force
Oklahoma Insurance Commissioner John D. Doak has been named Chair of the National Association of Insurance Commissioners’ Antifraud Task Force. He also was named to the International Insurance Relations Committee, Executive Committee and Property and Casualty Insurance Committee. Insurance Journal reports.
The Federal Bank Regulatory Agencies today announced they will give favorable Consideration under Community Reinvestment Act Regulations to Institutions that are located outside of the U.S. Virgin Islands and Puerto Rico, which were designated as Major Disaster Areas in the aftermath of Hurricane Maria, for Bank Activities that help to revitalize or stabilize these areas.
Keeping Flood Insurance Above Water
With the National Flood Insurance Program (NFIP) currently set to Expire on February 9, and many Communities still recovering from this summer’s Hurricanes, it’s no surprise that the 21st Century Flood Reform Act has passed the House and moved to the Senate. Verisk Analytics Chief Operating Officer Mark Anquillare reports via Insurance Journal.
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