Capitol to Courthouse Florida Insurance Report – Thursday, July 07, 2016
Jul 7, 2016
Justices Asked to Rule on Florida’s Credit Card Surcharge Law
Florida Attorney General Pam Bondi is asking the U.S. Supreme Court to take up a dispute about the constitutionality of a Florida Law that has blocked businesses from imposing surcharges on customers who pay with credit cards. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via CBS-Miami.
Algae Plaguing Florida Coast Will Cost State Millions to Clean Up
Environmentalists are attributing a putrid algae bloom affecting Southern Florida coastal areas to septic tank runoff and discharges from Lake Okeechobee, CBS 4 South Florida reports.
Appeals Court OKs Ethics Fine Against David Rivera
Florida Law requires the House Speaker — not the ethics commission or administrative judge — to penalize a lawmaker found in violation of ethics rules, The Miami Herald’s Patricia Mazzei reports for the “Naked Politics” blog.
Florida Corrections Officers Plea for a Special Session to Deal with Short-Staffing
Calling Florida Prisons “A Ticking Time Bomb,” members of the union representing State Corrections Officers called on Governor Rick Scott and Lawmakers on Wednesday to convene an emergency legislative session to address the State’s Prison Crisis. The Miami Herald’s Mary Ellen Klas reports for the “Naked Politics” blog.
Report: Jobs in Florida Cities Have Lowest Pay in the Nation
Florida’s big cities have the lowest-paying urban jobs in America, according to a recently-released federal survey. Scott Powers reports for FloridaPolitics.com.
Vermont Governor Names Pieciak Chief of Financial Regulation
Vermont Governor Peter Shumlin has appointed Michael Pieciak as the commissioner of the Department of Financial Regulation, replacing Susan Donegan whose last day on the job was June 30, Insurance Journal reports.
Terrorism Risk Insurance Program Changes are Necessary, Treasury Says
The Federal Terrorism Risk Insurance Program plays a crucial role in keeping terrorism-risk coverage accessible. The program, however, needs changes, the Treasury Department says, including mandatory insurer reporting of terrorism-risk data and requirements for carriers to retain some premiums to cover future claims, Insurance Journal reports.
Expanding Adoption of Drones Raises Insurance Questions
Recently issued drone-operation rules from the Federal Aviation Administration are poised to create greater demand for insurance to cover the associated risks, experts say. Operators need first-party and third-party liability coverage ranging from hull and liability insurance to professional liability coverage. National Underwriter’s PropertyCasualty360.com reports.
New York Agrees to Principle-Based Reserving Rule for Life Insurers
New York State’s top Financial Regulator, Maria Vullo, agreed to adopt new industry-supported reserve requirements for life insurers, departing from a predecessor who derided the shift as ” unwise.” Bloomberg’s Katherine Chiglinsky reports via Insurance Journal.
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