Capitol to Courthouse Florida Insurance Report–Tuesday, July 29, 2014
Jul 29, 2014
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Daily Florida Insurance-Related Events
There are no events scheduled for today.
Daily Florida Insurance-Related News
Federated National Launching Another Florida Home Insurer, Monarch National
Florida homeowners’ insurer Federated National Holding Co. and the Canadian bank and investment manager C.A. Bancorp Inc. have agreed to form a new Florida-based homeowners insurance carrier to be named Monarch National Insurance Co. Andrew Simpson reports for Insurance Journal.
Damage estimated at $1 million after Edgewater tornado, New Smyrna storms
Days after an EF-1 tornado touched down in Edgewater, Florida, residents continue to clean up the damage left behind, WFTV reports.
Governor Scott takes spin in driverless car
Governor Rick Scott, the first governor in the nation to chance a ride in a sleek German car with fancy driverless technology, got a first-hand peek at what happens during a routine test drive: a glitch in which the Audi had to stop on a closed-down stretch of expressway while engineers worked to fix a problem with the sensors, Keith Morelli reports on the “Political Fix Florida” blog.
Florida Medical Association members vote to support Medicaid expansion
The Florida Medical Association’s House of Delegates overwhelmingly adopted a resolution supporting Medicaid expansion to cover uninsured low-income adults at FMA’s annual meeting on Sunday, according to doctors who were there, Carol Gentry reports for Health News Florida.
Florida Medicaid Overhaul Dings WellCare
WellCare Health Plans, Inc. saw its stock price plunge more than 20 percent at one point on Friday after announcing its second-quarter net loss of $7.5 million, due mainly to high medical expenses in connection with the expensive rollout of Florida Medicaid’s statewide managed care program, Carol Gentry reports for Health News Florida.
Judge Upholds Florida’s Blind Trust Law
A state law allowing elected officials to set up blind trusts does not violate the Florida Constitution’s open-government requirements, a Leon County judge ruled Monday, clearing the way for Governor Rick Scott to continue to shield his assets from the public and himself. THE NEWS SERVICE OF FLORIDA’s Brandon Larrabee reports via SunshineStateNews.com.
Democrats Cut Into GOP Absentee Ballot Lead
Absentee ballots are becoming increasingly popular, as tens of thousands of them were sent to Central Florida voters last week for the upcoming primary race, Orlando Sentinel’s David Damron reports.
After months of having her back, state GOP starts taking shots at Nan Rich
For months, the Republican Party of Florida has been one of Democrat Nan Rich’s biggest cheerleaders, slamming likely Democratic gubernatorial nominee Charlie Crist for not debating Rich, who is a former Senate minority leader. But no more, Matt Dixon reports via the “Political Fix Florida” blog.
University of Florida says it won’t risk federal funding to participate in marijuana research
Florida budget writers won’t have to worry about funding research on medicinal marijuana any time soon, James Call reports for SaintPetersBlog.com.
South Florida home values may return to pre-recession peak in six years
South Florida home values remain 36 percent below their June 2006 peak, and won’t get back to that level until mid-2019, according to a new analysis from housing research firm Zillow. Kimberly Miller reports for the Palm Beach Post.
A.M. Best’s latest report, entitled “New IFRS Standard to Significantly Change Insurers’ Financial Reporting,” states that “The emerging international accounting standard for insurance contracts will change the data that form one part of the material used by A.M. Best in the insurance sector.” Insurance Journal carries the story.
Foes of Digital Highway Billboards Call for Insurers’ Help
A.M. BestTV explores how the use of digital billboards has become more prevalent, and as a result, the Scenic America Association seeks to curtail their use, saying that they are a distraction. Insurers say all distractions are a concern. Studies on the signs’ impact reach conflicting conclusions.
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