Capitol to Courthouse Florida Insurance Report: Tuesday, July 30
Jul 30, 2013
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 (“OIR”) Proposed Rule Hearing. Tallahassee, Florida.
- Proposed amendments to Rule 69O-137.001 would adopt the 2012 National Association of Insurance Commissioners (“NAIC”) Annual Statement Instructions Manual. To view the Hearing notice, click here.
- Proposed amendments to Rule 69O-138.001 would adopt the 2013 NAIC Financial Condition Examiners Handbook. To view the Hearing notice, click here.
1:00 to 3:00 p.m.–Florida Health Insurance Advisory Board meeting. Tallahassee, Florida. Updates on state/federal healthcare issues, including a presentation on the Patient Protection and Affordable Care Act (PPACA) and the OIR’s I-File Forms and Rates Filing Search System. The Florida Channel will broadcasting the meeting live on television and online. To view the agenda, click here.
2:00 p.m. to 5:00 p.m.–Executive Office of the Governor public meeting. Tallahassee, Florida. Discussion on candidates to interview for the statutory Citizens Property Insurance Corporation Inspector General position. To view the meeting notice, click here.
Daily Florida Insurance-Related News
Florida likely to get short break from hurricane threats
Florida is probably safe from a hurricane hit over the next couple of weeks, thanks to the same atmospheric conditions that mangled Tropical Storms Chantal and Dorian, Ken Kaye reports for the Sun-Sentinel.
National Academy of Sciences Says Watery Future for Miami, New York, Boston is Now Certain
More than 1,700 American cities and towns including Boston, New York, and Miami are at greater risk from rising sea levels than previously feared, a new study has found, Guardian Web reports via Advisen.com.
Florida sues couple over ownership of submerged St. Petersburg property
In a case that could affect waterfront property owners statewide, Gov. Rick Scott and the Cabinet have sued a St. Petersburg couple over their claim to submerged land in Coffee Pot Bayou, Craig Pittman reports for Tampa Bay Times.
Broward Judge under scrutiny in 2004 auto insurance settlement
Broward Circuit Judge Laura Marie Watson is under fire for the way she and her colleagues handled the settlement of a slew of lawsuits against a car insurance company while she was in private practice, Rafael Olmeda reports for the Sun-Sentinel.
Florida returns $212 million in unclaimed money, property
The State of Florida returned a record $212 million in unclaimed cash and property in the fiscal year that ended June 30 after companies couldn’t find the owners, Florida Chief Financial Officer Jeff Atwater announced Monday. Donna Gherke-White reports for the Sun-Sentinel.
Health Law Politics to Invade Consumer Mailboxes
Under a new law passed by the state legislature this spring, Florida’s Office of Insurance Regulation will no longer have authority over rate increases, the Times/Herald Tallahassee Bureau reports.
Special Investigative Series: Failure in Florida–How Bankers Broke the Law and Got Away With It
Sarasota Herald-Tribune’s Michael Braga and Anthony Cormier explore why so many banks failed in Florida during the Great Recession, who was responsible for their demise and whether regulators could have done anything to stop it.
- Part 2: “One Man Show”
- Part 3: “A Georgia Connection”
- Part 4: “Guns and Debts”
- Part 5: “Front Row Seats”
- Part 6: “How The Story Was Reported”
Blog: Don Gaetz says special session on Stand Your Ground would be unnecessary
Senate President Don Gaetz doesn’t see the need for a special session on the state’s Stand Your Ground law, blogs Kathleen McGrory for the Tampa Bay Times.
Florida Senate President Suggests Residency Test For All Lawmakers
Senate President Don Gaetz, R-Niceville, said Florida legislators should have a “litmus test” of sorts regarding residency beyond what is already in state law. But he wants top attorneys for the House and Senate to first recommend what standards are needed, reports Jim Turner for THE NEWS SERVICE OF FLORIDA via SunshineStateNews.com.
Florida leading nation in use of cost-benefit analysis for public policy choice, foundations say
Florida is among the 10 national leaders in use of cost-benefit analyses to inform public policy decisions, according to a study released Monday by the Pew Charitable Trust and the MacArthur Foundation, reports Karen Cyphers for SaintPetersBlog.com.
Florida’s SunPass now works in North Carolina
SunPass can now be used to pay for tolls in North Carolina, the first step toward similar arrangements with other states, Michael Turnbell reports for the Sun-Sentinel.
GAO Reports on Impact of 2007-2009 Financial Crisis on Insurance Industry; Regulatory Response
In response to a request by U.S. Representatives Randy Neugebauer (R-Texas) and Steve Stivers (R-Ohio), the U.S. Government Accountability Office (GAO) studied the effects of the 2007-2009 financial crisis on the insurance industry and policyholders, and the regulatory response, Colodny Fass& Webb reports on WCI360.com.
U.S. Senators Introduce Bill to Adjust Tax Liability for Small Insurers
Senators Tom Harkin, D-Iowa, and Chuck Grassley, R-Iowa, led a bipartisan group of five senators in introducing legislation to increase the alternative tax liability limitation for small property and casualty insurance companies, Accounting Today reports via Advisen.com
PCI Supports Applying State Solvency Standards for Insurers not Federal Banking Requirements
The Property Casualty Insurers Association (PCI) today issued the following statement in support of S.1369: “PCI commends Senators Sherrod Brown (D-OH) and Mike Johanns (R-NE) for introducing S. 1369,” said Nat Wienecke, PCI’s senior vice president, federal government relations. “They recognize what PCI has consistently urged, that policymakers should not impose consolidated capital standards that are designed for banks on insurers, which have very different business models and risk profiles.
Living a nightmare in China’s city of sinkholes
By 2090, the bureau predicts one third of a China city– an area as large as Los Angeles — will fall into the earth, and an estimated 5 million people will have been forced out of the region by the problem, CNN’s Meng Meng reports.
Bermuda registers 10 new captive insurers during first half of 2013
The Bermuda Monetary Authority reported registering 10 new captive insurers among the 34 insurance companies it registered during the first half of 2013, Business Insurance reports.
A.M. Best to Present August 6 Webinar Examining the State of the Captive Insurance Market
A.M. Best Co. announced today it will present its annual “State of the Captive Insurance Market” webinar on Tuesday, August 6, from 2:00 p.m. to 3:00 p.m. ET. Register at no charge at www.ambest.com/webinars/captive13.
Vermont becomes third state to allow voter registration during health insurance buy
Vermont will become the third state to offer voter registration through its health insurance marketplace later this year, the Tampa Tribune reports.
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