Capitol to Courthouse Florida Insurance Report: Thursday, May 7, 2015
May 7, 2015
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. to 5:00 p.m.–Federal Advisory Committee on Insurance meeting. Washington, D.C. Agenda includes discussion of cybersecurity related to the insurance industry, regulatory developments, and natural catastrophes and the role of mitigation, including President Obama’s Executive Order 13690, Establishing a Federal Flood Risk Management Standard. To view the meeting notice and registration information, click here.
Daily Florida Insurance-Related News
The Florida Legislature has announced dates for a June special session on the same day that the federal government reiterated that the state’s $2.2 billion Low Income Pool is at risk. Tia Mitchell reports for the Florida Times-Union.
Scott pleads for federal help to cover poor
Federal officials strongly urged Scott to go back to Tallahassee and work with the Legislature to expand Medicaid instead, rather than continue to rely on a temporary program designed to help hospitals cover the costs of caring for low-income, uninsured patients. William Gibson reports for the Orlando Sentinel.
Florida Hospital, Florida Blue reach verbal agreement in contract dispute
Florida Hospital and the insurer Florida Blue agreed Wednesday to end a contract dispute that could have forced thousands of Volusia and Flagler residents to pay higher out-of-network fees or change doctors. Skyler Swisher reports for the Daytona Beach News-Journal.
Federated National Holding Company (“FNHC”) recently announced the closing of its joint venture with Crosswinds Holdings Inc., through its majority-owned limited partnership, and Transatlantic Reinsurance Company, to form a new Property and Casualty insurance carrier in Florida known as Monarch National Insurance Company.
Florida insurance agency names vice chairman
D. Michael Sherman has been appointed to the newly created position of vice chairman of AssuredPartners Inc., Business Insurance reports.
Orchid Underwriters Agency Acquires Coastal Agents Alliance in New Jersey
Orchid Underwriters Agency LLC, a Vero Beach, Florida-based program administrator and wholesale broker of excess & surplus insurance focusing on coastal properties, announced that it has acquired Coastal Agents Alliance, a managing general agent in West Atlantic City, New Jersey, Insurance Journal reports.
Uber hopes petition will shore up support for law
Uber is turning to the public for support with a petition that as of Wednesday morning had more than 17,700 online signatures. Tampa Bay Times’ Michael Auslen reports.
Tampa Bay ranks among nation’s leaders in house-flipping profits
If TV shows like Flip or Flop have you itching to flip a house, Tampa Bay is a good place to do it. Tampa Bay Times’ Susan Taylor Martin reports.
Vermont’s New Captive Legislation to Revise Some Capital Requirement Rules
Vermont officials announced that Gov. Peter Shumlin will sign new legislation passed in April that would bring several changes to the state’s captive insurance rules — including changes to the investment guideline to allow “marketable securities” along with cash, trusts and letters of credit to meet the minimum capital requirement, Insurance Journal reports.
New Delaware Law to Help Lift Producers’ Surplus Lines Administrative Burden
Delaware insurance producers’ administrative burden when placing business in the surplus lines market will be lighter thanks to passage of House Bill 40 on Tuesday in the state General Assembly, Insurance Journal reports.
Signs of hope in North Carolina
The North Carolina House of Representatives passed a bill 119-1 Monday which, for the first time, would disclose to North Carolina drivers what they pay in surcharges to the North Carolina Reinsurance Facility. Right Street’s Alan Smith reports for Insurance Journal.
Louisville Ordinance Prevents Kentucky Homeowners from Repairing Flooded Homes
A Louisville metro ordinance designed to prevent rebuilding in areas that suffer from repeated flooding. It requires people in homes with serious flood damage to raise the lower level of their homes at least a foot above the flood zone in order to rebuild, the Associated Press reports via Insurance Journal.
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