Capitol to Courthouse Florida Insurance Report – Thursday, November 30, 2017
Nov 30, 2017
Patriot National to Reorganize For Acquiring Lenders; Subsidiaries to File Chapter 11
The Company, headquartered in Fort Lauderdale, Fla., expects the Reorganization, which is subject to Regulatory Approval, will be completed early in the Second Quarter of 2018. Insurance Journal’s Amy O’Connor reports.
· Patriot National Bankruptcy Leaves 250 Laid-Off Workers With No Severance Pay
· Patriot National Stock Will Be Extinguished
Florida’s Citizens Property Insurance Financially Sound At Hurricane Season’s End
The 2017 Hurricane Season ends quietly this week, but not before causing nearly $6 Billion in damage as Hurricane Irma ripped through South Florida and the Florida Keys in September, marking the first major storm to ravage the State in more than 12 years, Citizens reports.
HCI Group Subsidiary Homeowners Choice Approved to Write Flood Insurance in Ohio
Homeowners Choice may begin selling its Flood Insurance Product there once Regulators approve Rates and Policy Forms.
Insurer on the Hook for More Attorney Fees Than the Insured Paid
Florida Appeals Court Rules on what Fees are “Reasonable.” Steven Meyerowitz reports for National Underwriter’s PropertyCasualty360.com.
South Floridians Indicted In $150M “Factoring” Fraud Case
The top two Principals of Key Biscayne-Based Providence Holdings International that took in millions in Investors’ money have been Indicted for their roles in a Brazilian Factoring Scheme. The Miami Herald reports via Crain’s Miami.
Florida Tarp Company Fails On $30 Million Contract For Hurricane Maria Help
According to an exclusive Associated Press Report, FEMA eventually terminated the Contracts, without paying any money, and re-started the process this month to supply more tarps for the Island. The Tampa Bay Times reports.
Florida To Get $615M In Federal Relief For Irma
With the money Earmarked for Housing, Business Losses plus damaged Roads, Bridges and Sidewalks, the Funds could disappear quickly once the State Department of Economic Opportunity starts to distribute them. Mary Shanklin reports for the Orlando Sentinel.
· Adam Putnam Urges the Feds for More Help for Florida Agriculture Hurt by Hurricane Irma
Thousands Enroll in Florida Schools in Wake of Hurricane Maria; Housing a Major Issue
Osceola County saw the biggest impact, with 1,218 New Students, a 2.2 percent Increase in Enrollment since the start of the school year. Jason Ruiter reports for the Orlando Sentinel.
· Tenant Rights Left Behind, Especially After Irma
Florida’s Hurricane Irma Recovery: The Cost, The Challenges, The Lessons
Hurricane Irma will go down as one of the Top Hurricanes in Florida History, but experts say it could have been worse. Insurance Journal’s Amy O’Connor writes.
· Over 63K Boats Affected by Hurricanes in Florida Texas
Florida Supreme Court Rejects Governor’s Bid To Disqualify Justice Pariente
The Florida Supreme Court Wednesday tersely Rejected Governor Rick Scott’s request to Disqualify Justice Barbara Pariente from a Case involving upcoming Court Vacancies that has sweeping Political Implications. The Tampa Bay Times’ Steve Bousquet reports via “The Buzz” blog.
Lawsuit Claims Florida Is Ignoring Medical Marijuana Law
A Florida Nursery and a man who suffers from epilepsy Filed a Lawsuit against Gov. Rick Scott’s Administration that contends that State Officials are flouting the State’s New Medical Marijuana Law. The Associated Press’ Gary Fineout reports via Insurance Journal.
Polk County Commissioner John Hall Won’t Run For Neil Combee’s House Seat
Hall’s Decision came as Gov. Rick Scott announced the Dates for the Special Election. John Chambliss reports for the Lakeland Ledger.
Throughout Pasco, New-Home Market Is Booming
When built out, the Community’s First Phase will have 1,200 Homes and 300 Apartments. A Second Phase could include 11,000 Homes and 600 Apartments. Impressive as that sounds, it’s just a drop in the bucket compared to the number of Single- and Multi-Family Housing Units Pasco Officials have Approved. Susan Taylor Martin reports for the Tampa Bay Times.
The sternly worded Letter to City Manager Saeed Kazemi came on the heels of a News-Press Story reporting New Test Results with Elevated Arsenic Levels; Results the City failed to share with the Public, or, apparently, the DEP. Patricia Borns reports for the Ft. Myers News-Press.
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