Capitol to Courthouse Florida Insurance Report – Tuesday, July 05, 2016
Jul 5, 2016
More Home-Insurance Companies are Looking at Your Credit
As South Florida Property Insurance Rates climb this year, Homeowners are paying more attention to everything that can affect their premiums, the Sun-Sentinel’s Ron Hurtibise reports.
HCI Group Insurance Subsidiary, Homeowners Choice, Expects Reduced Reinsurance Costs
HCI Group, Inc. recently disclosed that its wholly owned subsidiary,Homeowners Choice Property & Casualty Insurance Company, Inc., which is a Florida based provider of Homeowners Insurance, has completed its reinsurance program for the 2016-17 reinsurance year, which runs from June 1, 2016 through May 31, 2017.
Insurance Council Seeks Bigger Hike In Workers’ Compensation Rate
The workers’ compensation insurance industry is seeking a nearly 20 percent rate hike, following a pair of recent Florida Supreme Court rulings and a change in state law, THE NEWS SERVICE OF FLORIDA reports via Health News Florida.
Heart and Hypertension Drive Jax Self-Insurance Liability Costs
An interim AMI Risk Consultants actuarial review of the City of Jacksonville’s Self-Insurance Program shows a seven-figure increase in the City’s outstanding claim liability (or loss reserve estimate) compared to six months prior. A.G. Gancarski reports for FloridaPolitics.com.
Some Florida Neighborhoods Owned by Billion-Dollar Companies
In the decade since the housing boom deflated into a bust, financial firms recognized an investment opportunity in hard-hit areas like this Orlando suburb. Single-family homes lost to foreclosure could be bought cheaply and transformed into rent-generating income streams. The Associated Press’ Mike Schneider reports.
Millionaires Add Up in Florida Legislature
The 2016 Florida Legislature appears to have been the richest in recent history. THE NEWS SERVICE OF FLORIDA’s Jim Turner reports via SayfieReview.com.
New Report Suggests Ways Government Efficiency Can Save Florida Taxpayers Billions
The Florida Government Efficiency Task Force released a 29-point report Thursday that it said could produce billions in annual savings for Florida Taxpayers. Drew Wilson reports for FloridaPolitics.com.
Florida’s Odd Ties to Four Declaration of Independence Signers
Think Florida has no connection to the Declaration of Independence? Actually Florida played a large role in the lives of four of the signers, three of whom celebrated the first Independence Day in Florida on July 4, 1781. Kevin Derby writes for SunshineStateNews.com.
Capital Rules Eased for UK Banks, Insurers in Wake of Brexit Vote
Measures announced by his Financial Policy Committee on Tuesday included a reduction in the capital requirements for banks, Bloomberg’s Scott Hamilton reports via Insurance Journal.
Treasury Recommends Some Terrorism Premiums be Retained for Future Claims
In a report that concludes that the federal terrorism risk insurance program “remains an important mechanism” for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury Department also calls for changes including requiring participating insurers to set aside a portion of the premiums they collect under the program for future terrorism claims, Insurance Journal reports.
Texas Insurance Chief to Hear Debate on Farm Bureau’s Arbitration Plan
The head of the Texas Department of Insurance, Insurance Commissioner David Mattax, is scheduled to hear comments Wednesday on a plan by the Texas Farm Bureau’s Insurance Division that could lead to endorsements for mandatory mediation-arbitration on some of the insurer’s homeowners’ policies. Tim Eaton reports for the Austin-American Statesman.
Missouri Department of Insurance to Host 2016 Director’s Regulatory Summit
The Missouri Department of Insurance announced today that Registration for the 2016 Director’s Regulatory Summit is now open.
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