Capitol to Courthouse Florida Insurance Report: Thursday, July 12
Jul 12, 2012
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
2:00 p.m.–Florida Workers’ Compensation Insurance Guaranty Association Workgroup meeting. Agenda includes discussion of issues and concerns resulting from recent insolvencies, including large deductible policies, collateral and employee leasing policies. To view the meeting notice, click here.
New Citizens Property Insurance chief wants better public outreach
The new head of Citizens Property Insurance Corp. said Wednesday the company must do a better job telling its customers about the nature of its policies, especially the possibility of assessments if a large storm hits the state.
- Barry Gilway: No “Doom-and-Gloom” Rate Scenarios on Citizens Property Insurance Horizon
- Blog: Citizens Property Insurance president — Customers can’t afford dramatic rate hikes
- New Citizens Property Insurance boss wants to slowly shrink state-run insurance company
- Citizens Property Insurance CEO looks to downsize inland exposure
Opinion: The value of Citizens Property Insurance
The question is not whether state-run Citizens Property Insurance Corp. will raise rates, but how fast and by how much.
In Florida’s property insurance market, the least talked-about stabilizer is its oldest: The Florida Insurance Guaranty Association, which the Legislature created in 1970 to handle the claims of bankrupt or failing insurance companies.
- Florida’s Insurance Market, Part 1: The Risk of Citizens Property Insurance
- Florida’s Insurance Market, Part 3: The Catastrophe Fund
Wireless emergency alert system launched by Federal Emergency Management Agency, weather service
In late June, the National Weather Service joined with the Federal Emergency Management Agency to launch a system that will send text messages to people in areas threatened by severe weather such as hurricanes.
Replacing beaches could cost $20 million
Pinellas County officials know where Tropical Storm Debby deposited the sand stripped from local beaches.
Blog: Federal judge to hold hearing in Miami-Dade state attorney’s race write-in lawsuit
The showdown is set: A federal judge could decide on Thursday whether more than 700,000 voters are allowed to vote in the Miami-Dade State Attorneys August election that will effectively decide who is the countys top law enforcement officer.
State owes feds $700 million for jobless benefits
Florida businesses owe the federal government almost $700 million borrowed to make unemployment payments during the past three years.
Ex-Florida Lieutenant Governor Carroll aide alleges misconduct
An ongoing criminal case against a former top aide to Florida Lieutenant Governor Jennifer Carroll is transforming into a swirl of allegations about improper relationships, widespread illegal taping and other incidents inside Carroll’s office.
Representatives of agriculture, industry and developer groups are giving the process an initial thumbs up.
Insurers Win Exemption in Commodity Futures Trading Commission Swaps Definitions
Swaps definitions adopted by federal regulators Tuesday exempt the insurance industry from a new regulatory regime for the complex derivatives outlined in the Dodd-Frank financial services reform law.
- To view complete documentation from yesterday’s hearing, click here.
Force-Placed Insurance Gaining National Spotlight
New York State’s hearings last month on force-placed insurance appear to be just the beginning of an effort to reform industry practices around the coverage nationwide.
Tropical Storm Creates New Beach on Alabama Coast
Within the span of a week, the Gulf built a beach in front of most of the rock wall used to close Katrina Cut.
Billionaire Hedge-Fund Manager Steps into Reinsurance Ring
Billionaire hedge-fund manager Steven A. Cohen has decided to inject $500 million of additional capital into the Bermuda reinsurance markets.
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