Capitol to Courthouse Florida Insurance Report: Tuesday, October 18
Oct 18, 2011
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
- Daily Florida Insurance-Related Bills Filed for 2012
- Daily Insurance-Related News
Daily Florida Insurance-Related Events
9:00 a.m.–Florida Cabinet meeting.
- State Board of Administration
(CANCELED) 10:00 A.M.–Florida Surplus Lines Service Office National Clearinghouse Committee meeting. Agenda includes issues pertaining to the proposed national surplus lines tax clearinghouse. To view the meeting notice, click here.
10:30 a.m.–Florida Division of Insurance Agents and Agency Services Proposed Rule Hearing relating to bail bonds.
- Rule 69B-221.105: Premium Charge Only Permitted. To view the hearing notice, click here.
- Rule 69B-221.100: Terms and Conditions of Contract; Surrender Form. To view the hearing notice, click here.
1:00 p.m.–FHCF Advisory Council meeting. Agenda includes discussion of October claims-paying capacity estimates and general business. Teleconference: 888-808-6959; conference Code: 4765251363. To view the meeting notice, click here.
Daily Florida Insurance-Related Bills Filed for 2012
HB 379 relating to Captive Insurance by State Representative Jeanette Nunez
HB 379 would expand the kind of insurance for which a captive insurer may seek licensure, as well as limit risks captive insurers may insure. The bill specifies requirements and conditions relating to a captive insurer’s authority to conduct business and, before licensure, requires certain captive insurers to file or submit specified information, documents and statements to the Florida Office of Insurance Regulation (“OIR”). HB 379 would require a captive insurance company to file evidence with the OIR relating to its financial condition, and quality of management and operations. It would also authorize a foreign or alien captive insurance company to become a domestic captive insurer by complying with certain requirements. Under the provisions of HB 379, the OIR would be authorized to waive requirements for public hearings relating to the redomestication of an alien captive insurance company. Capitalization requirements for captive insurers would be revised and their capital would be required to be held in certain forms. Further, contributions to captive insurance companies that are stock insurer corporations would be required to be in certain form. The OIR would be authorized to issue a captive insurance company license conditioned upon certain evidence relating to possession of capital. HB 379 would authorize the revocation of conditional licenses, as well as authorize the OIR to prescribe certain additional capital and net asset requirements. Finally, the bill provides for an annual captive reinsurance tax. Effective Date: upon becoming a law.
Strength of Florida hurricane fund to be reviewed
The strength of Florida’s hurricane fund is being examined by a state panel.
Insurers rule for roofs raises fraud fears
Roofer Mark Gelling was saddened when he heard about a Pasco family on the verge of losing their home because of a worn out roof.
Letter to the Editor: Chinese drywall problem still unresolved
For some Florida homeowners, the housing and foreclosure crises aren’t the only problems they face.
Homeowners Fear Insurance Rate Hikes
A Brevard county woman found out that unless she allows her insurance company to inspect her home for hurricane protection, she will lose a thousand dollars in premium discounts.
Tampa clinic employee charged in stage crash scheme
Authorities arrested a Tampa clinic employee accused of participating in a stage auto crash scheme.
State’s new gun law doesn’t address waiting periods
If the Legislature’s aim in ordering the repeal of all local gun laws was to clear up confusion over a hodgepodge of rules, it didn’t work.
Brown & Brown, Inc. Announces 5.2 percent Increase in Total Revenues
Brown & Brown, Inc. today announced its financial results for the third quarter of 2011.
Senate panel reviews red light camera issue again
A rehash of the red light camera fight could be on tap again for the upcoming session.
Good News!? Florida Medicaid Deficit to Rise Only $65.8 Million
Florida may have to find $65.8 million more for Medicaid costs this year than initially forecast, yet that may be good news for a state working to rein in its ever-expanding health care expenses.
Limited competition could complicate Florida health insurance reform
According to a Kaiser foundation report, four insurance companies dominate the states individual and small group policy markets.
County Lines Favored for Florida’s Redrawn Congressional Districts
Members of the Congressional Redistricting Subcommittee favored county lines as the first place to put down new boundary lines for Florida’s growing federal seats.
Representative Jeff Clemens files bill to ban debit card fees
As banks begin to charge customers monthly fees for using debit cards and a populist movement protesting economic conditions spreads, the Lake Worth Democrat files the bill.
Blog: American Civil Liberties Union, Florida Governor Scott battle over drug testing case subpoenas
Lawyers for Governor Rick Scott and the American Civil Liberties Union are engaged in a tussle over whether the ACLU can be subpoenaed for a case in which the civil-rights advocacy group is the legal counsel.
Feds OK Agriculture Department takeover of Florida school food
Agriculture Commissioner Adam Putnam has gotten federal approval to take over Florida’s school nutrition programs.
In May, the 9th U.S. Circuit Court of Appeals in San Francisco ruled that stormwater permits may be required under the U.S. Clean Water Act for logging roads, which were exempt from federal stormwater regulations adopted in 1991.
Cabinet to get update on Florida’s space industry
The Florida Cabinet is getting an update on Florida’s space industry.
Blog: Florida’s special districts look in line for a fix – but how?
Florida’s 1,633 special districts – which range in scope from behemoth water management districts to small town community development authorities – are being dragged slowly under the microscope of the state’s biggest government entity, the state Legislature.
Federal Insurance Office Asks for Industry Comments on Fed Regulation, Other Issues
The Federal Insurance Office is asking interested parties to comment on a host of issues-including the potential costs and benefits of federal regulation of insurance across various lines-as it works to prepare a mandated study on insurance issues.
New Billing, Commission System at Texas Windstorm Pool Starts January 1
The Texas Windstorm Insurance Association will be implementing a new billing and commission system beginning Jan. 1, 2012.
NRRA Not Applicable to Captives, Study Finds
Owners of captive insurers concerned that they need to relocate their captive because of Nonadmitted and Reinsurance Reform Act requirements can now rest easy, according to a white paper on the subject.
Flexibility becomes issue for states pushing health-care reform further
As states such as Oregon try to expand their health-care programs, they find they need waivers from the federal plan.
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