Capitol to Courthouse Florida Insurance Report–Tuesday, October 14, 2014
Oct 14, 2014
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 Office of Insurance Regulation Public Rate Hearing: National Council on Compensation Insurance (“NCCI”). Tallahassee, Florida. NCCI has proposed a statewide average decrease of 2.5 percent. For a summary of the NCCI filing, click here.
1:30 p.m.–Florida Hurricane Catastrophe Fund Advisory Council meeting. Discussion of October 2014 claims-paying capacity estimates. To access the meeting materials, click here.
Daily Florida Insurance-Related News
University of Miami’s new research tank may hold key to hurricane forecasts
The physics of hurricanes have remained largely a mystery, vexing meteorologists who have struggled to improve intensity predictions even as they bettered forecast tracks. Now scientists have a shot at solving that puzzle with a new 38,000-gallon research tank unveiled this month at the Rosenstiel School of Marine and Atmospheric Science at the University of Miami. The Miami Herald reports via Advisen.com.
Florida Public Universities’ Corporations Raise Immunity, Disclosure Questions
Florida’s universities are getting around state public records law through dozens of private corporations that have been created over the years to oversee everything from athletic programs to dorm construction to salaries, Associated Press’ Mike Schneider reports via Insurance Journal.
Number of Uninsured Florida Drivers Is Double That Of Texas
Although the Lone Star State is populated by almost 7 million more people than Florida, a recent study released by the Insurance Research Council revealed the number of uninsured motorists in the Sunshine State is twice as large, the Lakeland Ledger’s John Ceballos reports.
Part of controversial malpractice law upheld; Requirements for patient privacy were at issue
A federal appeals court Friday upheld part of a controversial Florida medical-malpractice law, saying it does not violate requirements aimed at protecting patient privacy. A three-judge panel of the 11th U.S. Circuit Court of Appeals overturned a ruling last year by a Tallahassee federal judge. THE NEWS SERVICE OF FLORIDA’s Jim Saunders reports via the Tampa Tribune.
Bondi reverses course, now asks Florida Supreme Court to rule on gay marriage
In a startling move Monday night, Florida Attorney General Pam Bondi said she wants the Florida Supreme Court to decide once-and-for-all whether same-sex couples can marry in the Sunshine State. The Miami Herald’s Steve Rothaus reports via the “Naked Politics” blog.
Governor Scott’s lawyers ask California judge to rule on Google documents in open records case
Governor Rick Scott’s lawyers have asked a judge in California to wait until after the election to decide whether Google can release details about the Gmail accounts used by the governor and two former members of his staff. The Miami Herald’s Mary Ellen Klas reports via the “Naked Politics” blog.
Charlotte’s Web in court makes a January 1 start date unlikely
Miami-based Costa Farms and Plants of Ruskin are challenging the Department of Health’s rules for Charlotte’s Web, a low-THC strain of marijuana which has cannabinoids used to treat seizure patients and others suffering from debilitating diseases. SaintPetersBlog.com’s James Call reports.
Florida Department of Law Enforcement charges ex-GOP candidate Yinka Adeshina with fraud
Yinka Adeshina’s invisible campaign for governor never caught on with Florida voters, but it drew attention from state law enforcement agents, Tampa Bay Times’ Steve Bousquet reports.
Oily, Marijuana-Like Substance Among New Designer Drugs Hitting Florida Streets
Known as “butane hash oil” or “marijuana wax,” Budder is a gooey substance made in local grow houses via a highly unstable process that requires soaking the leaves and stems of marijuana plants in a chemical solvent like butane, to extract the most concentrated high-inducing ingredients, Sun-Sentinel’s Nicole Brochu reports.
Politifact: Digital Domain ad falsely called a “de-facto Ponzi scheme”
Politifact Florida decided to fact-check Crist’s role in the Digital Domain deal and whether he was “embroiled in a fraud case for steering taxpayer money to a de facto Ponzi scheme.”
G20 Regulator Toughens Rules for Non-Bank Financing
Global regulators are making it more expensive for hedge funds and insurance companies to raise money from loaning shares in a bid to curb hitherto unregulated risks in “shadow banking,” Reuters’ Huw Jones reports via Insurance Journal.
Global Banks Agree to Swap Contracts to Ease Too-Big-to-Fail
Eighteen global banks have agreed to swaps contract changes designed to work with government rules for unwinding failed firms, a step that may help end the view that some financial companies are “too big to fail,” Bloomberg’s Gregory Mott reports via Insurance Journal.
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