Capitol to Courthouse Florida Insurance Report – Tuesday, June 14, 2016
Jun 14, 2016
Insurance Controversy Targeted In Florida Forum
It’s the topic off the season in the insurance world. It pits insurance companies against contractors, attorneys and other third parties they blame for inflating non-storm claims such as plumbing leaks. Caught in the middle, consumers often find themselves ankle deep in water and up to their necks in unexpected strife. InsuranceNewsNet.com notes the Palm Beach Post story.
Florida-Based Prepared Holdings to Review Strategic Opportunities
Prepared Holdings, LLC, the parent company of a consolidated group of companies writing personal homeowners’ lines of business in Florida and Louisiana, announced its Board of Managers has authorized a review of strategic alternatives for the company, Insurance Journal reports.
A $433 million mistake: State, feds underpaid Florida Medicaid insurers for two years
Florida’s Legislature received a surprise Medicaid bill this month: $433 million in unpaid insurance reimbursements, owed jointly with the federal government. The Miami Herald’s Dan Chang reports.
Nephila shrinks Florida book in June renewals
Leading Florida carrier Nephila Capital has withdrawn significant capacity in this year’s June renewals, sister publication Trading Risk reported last week.
Governor Scott’s federal emergency declaration funds request unprecedented after a mass shooting
Governor Rick Scott on Monday took the unprecedented step of asking President Obama to make a federal emergency declaration in Florida in the aftermath of the mass shooting at an Orlando nightclub. The Florida Times-Union’s Tia Mitchell reports.
Shooting Pushes Gun Control, ISIS Fight into Florida Campaigns
The massacre at an Orlando Nightclub by a gunman linked to terrorism suddenly catapulted gun control and the fight against ISIS into out-sized roles Monday in Florida’s unfolding election season. John Kennedy reports for the Palm Beach Post.
U.S. Supreme Court turns down Seminoles’ appeal in tax fight
In a case that raised questions about tribal sovereignty, the U.S. Supreme Court on Monday turned down an appeal from the Seminole Tribe of Florida in a dispute about paying state utility taxes. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via the Palm Beach Post.
Controversial Everglades oil well plan moving forward
After generating an uproar last summer over plans to drill for oil in the Everglades near Miramar, the Kanter family of Miami has submitted paperwork for state permits that could result in decisions by late summer or early fall. David Fleshler reports for the Sun-Sentinel.
New York Court Says Bank of America, Countrywide Merger Communications Must Be Disclosed
New York’s highest court ruled on June 9 that Bank of America must disclose to an insurer communications it had with Countrywide Financial six months before the bank bought the mortgage lending company in 2008. The Associated Press’ Michael Virtanen reports via Insurance Journal.
U.S. Supreme Court Makes Room for Triple Damages for Intentional Patent Infringement
The U.S. Supreme Court eased the way for larger damage awards when a company intentionally copies a patented invention. Bloomberg’s Greg Stohr reports via Insurance Journal.
Storm Model Forecasts Beach Changes and How Far Ocean Will Overrun
The US Geological Survey is running its coastal change forecast model to predict how far a storm’s waves will push water up the beach – whether it will go just to the dunes, over the dunes, or even farther onto roads and property. The Associated Press’ Martha Waggoner reports via Insurance Journal.
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