Capitol to Courthouse Florida Insurance Report: Thursday, May 12
May 12, 2011
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
1:00 p.m.–Florida Office of Insurance Regulation Public Rate Hearing: Fidelity National Property and Casualty Insurance Company; To view the meeting notice, click here. To view the agenda, click here.
Citizens to Borrow Nearly $1 Billion Ahead of Hurricane Season
Florida’s largest property insurer to pad financials as storm season approaches
To prepare for a hurricane season, homeowners typically buy shutters, stock up on batteries and water and recheck the generator.
Citizens purchases reinsurance
Florida’s state-backed property Insurance company is shoring up its ability to pay claims to home and business owners should a major hurricane or series of storms hit the state this year.
Aspen Insurance Receives Florida Office of Insurance Regulation Nod for Reduced Collateral
Aspen becomes latest reinsurer to receive approval under Florida’s reduced collateral rules.
Big Cypress fire 85 percent contained, smoke expected in Naples Thursday afternoon
A massive fire burning in the Big Cypress National Preserve grew to 38,130 acres Wednesday night, and was 85 percent contained.
Insurers See Slight Progress, Missed Opportunity in Session
Chances to reform Citizens, install personal injury protection reform go by the wayside
Legislators delivered for most Florida businesses in the 2011 session, as much of their agenda is making it into law. But there was one glaring exception — insurance companies.
Bill lets insurers delay payouts to homeowners
If Florida homeowners fall victim to a hurricane this summer, they may end up paying for some repairs out of pocket, under provisions in a property insurance bill that landed on Governor Rick Scott’s desk Wednesday.
Editorial: Bad call by legislators on sinkhole coverage, but it could have been worse
THE ISSUE: Florida Legislature passes bills to limit sinkhole coverage.
During the just-passed legislative session, the insurance industry spent a lot of lobbying capital trying to get changes in state insurance laws, particularly regarding sinkhole coverage. In the end, the industry won on several issues.
Some Florida home insurance premiums could double in five years under bill
Homeowners, some already hit with double-digit property Insurance rate hikes in recent years, could see premiums more than double in five years.
Clearwater OKs several damage claims
On August 3, 2010, a contractor hired by the city was using a high-pressure water hose to push a cleaning device through a sewer line.
Insurance delays animal-shelter operator
The Middle and Lower Keys should have a new animal-control provider in place within days, according to Safe Harbor Animal Rescue of the Keys President Sheila Cook.
Blog: Elderly will be the first required to enroll in managed care under new Medicaid laws
Until now, Florida’s plans to transfer Medicaid patients into managed care have focused on children and families, not the sick and frail elderly who need constant care.
2011 Florida Legislative Session Summary: Health Care
What passed, what failed and what you need to know about health care legislation. Florida says yes to a $22 billion overhaul of the Medicaid program and no to federal health care reform.
Florida Democrats may skip 2012 presidential primary
Call it a case of “once burned, twice shy.”
Report lists Florida as leader in tracking transportation investments
The study leaves some wondering why the Florida Legislature would look to sweep the transportation trust fund of $150 million dollars.
Turn it up, man? Florida’s loud car stereo law has been ruled unconstitutional
A ruling issued Wednesday by an appeals court judge in Lakeland finds the state statute governing loud car stereos restricts free speech.
Florida plans to close Glades, Hendry prisons, maybe leaving 600 jobless in impoverished region
Florida officials apparently plan to shut down Glades Correctional Institution, possibly leaving its 300-plus workers without a job in an already-economically ravaged region by July 1.
Growers Want Veto of Proposed Citrus Code Changes
State Senator J.D. Alexander and Florida’s top citrus grower organizations have declared war against each other over control of the Florida Department of Citrus and its taxing authority.
Three Conservatives Square Off in Special Election to Represent Miami-Dade in the House
With Esteban Bovo having resigned his seat at the end of March, during the middle of the legislative session, to run for the Miami-Dade County Commission, three Republicans and a write-in candidate have filed to claim the seat.
State Representative John Wood Gets Republican Primary Challenger in John Lindsey
Having failed to knock off Dennis Ross in 2010, conservative activist turns focus to Polk County rep in the Florida House
Representative John Wood, R-Haines City, will be facing a primary challenge in 2012 from a conservative challenger for the Republican primary nomination — John Lindsey, who took 31 percent of the vote against Dennis Ross in a congressional primary in 2010.
Blog: Former Congressman Kendrick Meek lands a new gig
The former congressman who was defeated in his bid for Senate has joined the website Politic365 as chairman of its editorial board.
Blog: Florida Elections Commission owed $1.4 million in unpaid fines
Candidates, consultants and political organizations owe the Florida Elections Commission almost $1.4 million in unpaid fines from cases stretching as far back as 1990, state records show.
Trial lawyers take ‘dings’ but survive Florida Legislature
There were no clear winners or losers on lawsuit reform in this year’s legislative session.
Florida Businesses See 2011 Session as Shot in the Arm
Regulation freezes and tax breaks make for successful session for businesses
Manatee County Appraiser faces fraud charges over deal that helped kill Bradenton bank
Jay Whitham was willing to give up his appraiser’s license for 10 years and pay more than $2,000 in fines and fees for writing a flawed appraisal for the now-defunct First Priority Bank.
2011 Florida Legislative Session Summary: Real estate and growth management
What passed, what failed, what you need to know about growth management and real estate issues.
2011 Florida Legislative Session Summary: Education
What passed, what failed and what you need to know about bills dealing with K-12 and higher education.
No Major Reforms For Texas Insurance Regulation
Republicans easily swatted down major changes to insurance regulation in a Texas House bill that would keep the current rules and bureaucracy in place.
The Louisiana Supreme Court issued an opinion Tuesday that could keep alive the state’s effort to collect any underpayments by homeowners insurers because of the Road Home Program after Hurricane Katrina.
New York Times Owns New York-Domiciled Captive
A page-one New York Times article this week slammed state captive insurance laws, stating that they allow companies to “conduct Bermuda-style financial wizardry” in the U.S., but the Times company, it turns out, has its own captive domiciled in New York.
New Jersey, Nevada Reject Risk Retention Group Restrictions
A risk retention group organization praised actions taken by New Jersey Governor Chris Christie and Nevada Insurance Commissioner Brett Barratt to kill proposals that the organization says would discriminate against RRGs.
RIMS wants spot on Federal Advisory Committee on Insurance
The Risk & Insurance Management Society Inc. would like to be represented on the Treasury Department’s new Federal Advisory Committee on Insurance.
Changes on the Playing Field; Property and Casualty Insurers Question Impact of New Regulations
The European insurance industry is becoming increasingly aware that the Solvency II regulations, which are scheduled to take effect as of January 1, 2013, will not only impose a different set of rules for the industry, but could also fundamentally alter the industry itself.
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