Capitol to Courthouse Florida Insurance Report: Tuesday, April 8
Apr 8, 2014
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
9:00 a.m. to 11:00 a.m.–Florida Division of Workers’ Compensation (“DWC”) Proposed Rule Hearing. The proposed Rules would provide guidance to current, former and prospective self-insurers on allowable, purpose-specific methods for use when determining a self-insured’s net worth. They also would provide for an increase in the maximum dollar amount (and, in the alternative, an increase in the percentage-amount of a self-insured’s net worth) of a self-insured’s per-occurrence retention rate. The proposed increase in the maximum amount of the per-occurrence retention rate would provide self-insurers with a measure of flexibility in controlling the costs of excess insurance. To view the hearing notice, click here.
- 69L-5.209: Financial Statements Reporting
- 69L-5.215: Parental Guaranty
- 69L-5.219: Excess Insurance
- 69L-5.225: Requirements
3:00 p.m. to 6:00 p.m.–Florida Senate Committee on Banking and Insurance meeting. To view the agenda, click here.
Daily Florida Insurance-Related News
Bill to further shrink Citizens clears Senate panel
The number of policies in state-run Citizens Property Insurance Corp. is falling dramatically, but lawmakers continue to push for more changes to help it move more homeowners into the private market, The Florida Current’s Gray Rohrer reports.
State Recognition Preceded People’s Trust Policy Cancellations
The recent decision by People’s Trust to cancel policyholders came just a few months after the insurer was recognized for its economic contribution to the state, Michael Adams reports for Insurance Journal.
Trying to Curb the Soaring Cost of Wind Insurance
A project called the Wind Insurance Cost Reduction Study randomly selected and contacted by mail 704 homeowners throughout the Keys to participate in an in-depth mitigation audit, writes Linda Cunningham in this ContextFlorida.com editorial opinion.
Tampa predicted to become “the driverless era’s Motown”
SaintPetersBlog.com’s Peter Schorsch notes an article by Richard Morgan in The Atlantic explaining that Tampa, in particular, has many of the social ingredients experts think of when they envision the driverless era: retirement communities, college campuses, military bases, hotels and theme parks – contained settings well-suited for autonomous shuttle services.
Paying for rail safety could cover Florida quiet zones, but standards in dispute
State of Florida transportation officials say it’s premature to decide whether a “sealed corridor” level of safety upgrades is needed on the FEC tracks where All Aboard Florida passenger rail could accelerate to 110 mph north of West Palm Beach, Emily Roach reports for the Palm Beach Post.
Budget forecasters confirm cost of the pharmacy bill, which would be paid by the state
Legislative budget forecasters determined a bill that would define the ways pharmacy benefit managers do business would impact the State Employees’ Group Insurance Trust fund by $34 million over five years, according to a report released on Monday afternoon, The Florida Current’s Arek Sarkissian reports.
Scott moves aggressively to boot more than 30 Florida notaries public
After years of apparently not attending to the duty, the Senate Ethics and Elections Committee on Monday voted to give the boot to more than 30 notaries public, following an aggressive move by Governor Rick Scott against people who violated their responsibilities or were disqualified for other reasons, THE NEWS SERVICE OF FLORIDA’s Brandon Larrabee reports via the Florida Times-Union.
Senator Legg explains why he opposed “warning shot” bill
Senator John Legg’s nay vote was the only Republican vote against HB 89, the so-called “warning shot” bill, which sailed through both chambers and is currently awaiting the signature of Governor Rick Scott, explains Tampa Bay Times’ Michael Van Sickler.
John Lindsey Ends GOP Primary Bid Against State Representative John Wood
Over the weekend, conservative activist John Lindsey announced he was ending his Republican primary challenge to state Rep. John Wood, R-Winter Haven, Kevin Derby reports for SunshineStateNews.com.
Illinoisans least trusting of state government, but Floridians not too far behind
In a Gallup poll released last week, just seven percent of Floridian surveyed said that they trust state government a great deal, while a full 14 percent said they do not trust state government at all, SaintPetersBlog.com’s Peter Schorsch reports.
Wren Deposed as NCOIL President After Resigning from Alabama House Amid Probe
Greg Wren, president of the National Conference of Insurance Legislators, was automatically deposed last week when he resigned as a member of the Alabama House as part of a plea deal with state prosecutors, Arthur Postal reports for National Underwriter’s PropertyCasualty360.com.
Group Urges New York Regulators to Review Auto Insurers’ Rate-Setting Practices
The New York Public Interest Research Group said it is urging New York regulators to undertake a thorough review of rate-making practices by auto insurers in New York, Young Ha reports for Insurance Journal.
Bill would make more grant money available for South Carolina homeowners seeking safety upgrades
Coastal South Carolina residents wishing to fortify their homes from the peril of winds may soon get access to more state grant money, Cynthia Roldan reports for the Post and Courier.
Ridesharing Service Uber Expanding Into Courier Business
App-based ride company Uber will start delivering on its promise of expanding its business into logistics on Tuesday when it launches a trial courier service, Uber Rush, in Manhattan, Reuters’ Sarah McBride reports via Insurance Journal.
China Relaxes Insurance Merger and Acquisition Rules; Could Invite More Global Firms
China’s decision to partially relax mergers and acquisition rules in the insurance industry could see global insurance firms expand their footprint in the $288 billion market, Reuters reports via Insurance Journal.
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