Capitol to Courthouse Florida Insurance Report: Tuesday, July 26
Jul 26, 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
9:30 a.m.–Florida Office of Insurance Regulation Proposed Rule Hearing
- 69O-164.020: Valuation of Life Insurance Policies
- Rule amendments would revise the National Association of Insurance Commissioners (“NAIC”) Model Regulation that reduce the minimum premium deficiency reserve requirement, subject to certain conditions to ensure adequacy of reserves. To view the hearing notice, click here.
- 69O-162.203: Adoption of 2001 Commissioners Standard Ordinary Preferred Mortality Tables for Determining Reserve Liabilities for Ordinary Life Insurance
- Rule amendments would revise the NAIC Model Regulation, explain the conditions for use of the preferred class structure mortality tables and permit use of the mortality tables for policies issued prior to the adoption date of the original Rule. To view the hearing notice, click here.
- 69O-138.047: Description of Actuarial Memorandum Including an Asset Adequacy Analysis and Regulatory Asset Adequacy Issues Summary
- Rule amendments would revise the NAIC Model Regulation by adding an additional requirement to the Regulatory Asset Adequacy Issues Summary as a result of changes to Rules 69O-162.203 and 69O-164.020, F.A.C. To view the hearing notice, click here
10:00 a.m.–Citizens Property Insurance Corporation Actuarial and Underwriting Committee meeting. Teleconference: 866-361-7525; conference code: 8632017402#. To view the meeting notice, click here.
11:00 a.m.–Florida Division of Insurance Agent and Agency Services Proposed Rule Hearing. Proposed Rule 69B-215.235 would set standards for the use and representation to consumers of professional designations or certifications by licensees engaged in the marketing and sale of insurance products. To view the Hearing notice, click here.
Florida Attorney General files lawsuit against Rolladen for not delivering shutters
Florida Attorney General Pam Bondi filed a lawsuit Monday against Hallandale-based Rolladen Inc. and its owner for allegedly practicing deceptive and unfair trade practices, including not delivering hurricane shutters as promised.
Citizens sinkhole rates may surge
The state-run property insurer is proposing to increase sinkhole insurance premiums by more than 2,000 percent in some parts of the Tampa Bay area, and an average of more than 400 percent across the state.
Citizens Property Insurance seeks big rate hikes
Citizens Property Insurance will propose dramatic increases – some higher than $5,000 – in the premiums the state-run carrier charges homeowners for sinkhole coverage.
Florida Association of Insurance Agents chair-elect Laurie talks about insurance
John C. Laurie, vice-president and agency manager of BB&T Insurance Services in Bradenton, has been elected the Florida Association of Insurance Agents’ 2011-2012 chairman-elect.
Amid drought, 10 billion gallons of water drain out to sea in first two weeks of July
Dumping billions of gallons of water out to sea in the midst of a lingering drought is South Florida’s water-supply irony.
Florida Surgeon General speeds up ’emergency’ suspensions
The Department of Health is streamlining the process of getting dangerous health professionals out of practice — and it may already be paying off.
Red-Light Camera Vendor Says Legal Fight Near End of Road
Two South Florida court decisions favor the program, but opponents keep pushing for repeal
A company that sells and operates red-light cameras says recent court victories signal “an end” to legal challenges against the controversial traffic enforcement program.
Jesse Jackson in Tampa today to protest new election law
The Reverend Jesse Jackson will headline a rally in Tampa today to protest a new Florida election law Republicans say is intended to cut costs and prevent fraud, but that Democrats and civil rights organizations say is aimed at suppressing voter turnout to improve Republican 2012 election chances.
Florida Supreme Court stays execution; drugmaker says anesthetic unsafe
A split Florida Supreme Court has postponed the execution of convicted cop killer Manuel Valle and ordered a hearing on a new drug to be used as part of the lethal injection “cocktail.”
Private prison plan moves along for South Florida
The fastest privatization venture ever undertaken by Florida took a big step forward Monday when the state formally sought plans from private firms to operate all prisons in an 18-county region in South Florida.
- Police union sues Governor Rick Scott over private prison plan
- Blog: Pornography officially banned in all Florida prisons
Florida Senator Alexander Says He Will Not Run for Office Again
State Senator J.D. Alexander made two things perfectly clear at his Monday noon appearance before the Tiger Bay Club of Polk County: He will never run for office again and he wants University of South Florida Polytechnic to become a separate university within the state university system.
Cost estimates for Florida’s river health vary wildly in first hearing
A fight about how much Floridians could pay for new algae-fighting water rules wound its way Monday to a science panel from the National Research Council.
A.M. Best Analyst: New RMS Hurricane Model Is Impacting Cat Bond Market
Risk Management Solutions Inc.’s updated U.S. hurricane model has already had an impact on both existing and new catastrophe bonds, said an A.M. Best Co. analyst.
Louisiana Workers’ Compensation Medical Guidelines Now in Effect
Medical treatment guidelines have gone into effect for the treatment of workers’ compensation injuries in Louisiana.
Nevada Risk Retention Group Wins Summary Judgment Against Regulator
A year-long legal battle with Nevada regulators has paid off for a risk-retention group in the form of a decision.
Settlement Reached in Post-Katrina Patient Deaths
A New Orleans judge has approved a $25 million settlement in a class-action lawsuit filed over the deaths of patients at a New Orleans hospital after Hurricane Katrina.
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