Capitol to Courthouse Florida Insurance Report: Tuesday, March 24, 2015
Mar 24, 2015
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
9:00 a.m.–Florida Cabinet meeting. To view the complete agenda, click here.
- State Board of Administration agenda
- Authorize the Florida Hurricane Catastrophe Fund (“FHCF”) to file a Notice of Proposed Rule for two rules, Rule 19-8.029, F.A.C., Insurer Reporting Requirements, and Rule 19-8.030, F.A.C., Insurer Responsibilities, and to file these rules for adoption if no member of the public timely requests a rule hearing.
- FHCF Finance Structure
1:30 p.m.–Florida Hurricane Catastrophe Fund Advisory Council meeting. Room 116 (Hermitage Conference Room), 1801 Hermitage Blvd., Tallahassee, Florida. To participate by phone, call (888) 670-3525 and enter conference code 7135858151. Agenda includes a presentation and vote on the 2015 premium formula, among other items. To view the agenda, click here.
Daily Florida Insurance-Related News
State Representative Artiles: Governor Scott, Cabinet must block reinsurance “welfare”
On the eve of Tuesday’s meeting of Governor Rick Scott and the Cabinet, State Representative Frank Artiles, R-Miami, wants state officials to reject a proposal by the Florida Hurricane Catastrophe Fund to issue $2.2 billion in reinsurance bonds. Tampa Bay Times’ Steve Bousquet reports.
Florida Senate weighs how much insurance Uber, Lyft drivers need
State lawmakers are responding to the times, attempting to change laws because of ride-booking services like Uber and Lyft, Tampa Tribune’s James Rosica reports.
Florida House Bill 669 Could Impact Automotive Glass Companies
Florida House Representative John Tobia (R) has introduced bill 669, which could void the ability for companies, such as automotive glass retailers, to seek the assignment of benefits from their customers. Jenna Reed reports for GlassBytes.com.
Florida Residents Arrested for PIP Fraud Following Staged Accident
The Florida Department of Financial Services’ Division of Insurance Fraud announced the arrests of Fort Lauderdale residents Kendrick Callins and Lashaunda Gibbs for staging an auto accident, patient brokering and personal injury protection insurance fraud, Insurance Journal reports.
Bill Posey Leads Effort to Ensure Insurance Policies Aren’t Used on Bailouts
At the end of last week, Florida Republican U.S. Representative Bill Posey signed on to a bipartisan effort to ensure insurance policies won’t be used to bail out financial institutions, Kevin Derby reports for SunshineStateNews.com.
Florida Reaches Milestone in Life Claim Settlements
The Florida Office of Insurance Regulation, Florida Department of Financial Services, and the Florida Office of the Attorney General announced that its joint effort with other states has so far resulted in successful investigations and settlements with two-thirds of the life insurance industry on proper death benefit payments to insurance consumers.
Door shuts in Tallahassee on full-fledged medical marijuana
Non-euphoric pot may nudge forward in the Legislature this year, but the window for a full-fledged medical marijuana system has all but slammed shut, the Tampa Bay Times reports.
Plan to replace Florida’s “obsolete” voter registration system set for July
Florida Secretary of State Ken Detzner verified to the State Senate on Monday that his office is working to “refresh” the state’s glitch-prone voter registration system by July, averting potential problems that could have threatened the 2016 presidential election cycle. Jeremy Wallace reports for the Sarasota Herald-Tribune’s “HT Politics” blog.
Wall Street Journal: Collapse of Southport Lane’s Insurance Empire
An insurance empire that included two insurance carriers, two offshore reinsurers, several buildings and other insurers’ investments was built by a private equity firm in part on questionable assets and is now being dismantled, according to the Wall Street Journal. Insurance Journal notes the story.
SNL Financial’s Top 30 U.S. Excess & Surplus Lines Writers in 2014
American International Group and Nationwide Mutual are the top writers of U.S. excess and surplus business, but Berkshire Hathaway Inc. has climbed to become the eighth largest writer in just two years, Insurance Journal reports.
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