Capitol to Courthouse Florida Insurance Report: Tuesday, October 8
Oct 8, 2013
Daily Florida Insurance-Related Events
1:30 p.m. to 3:30 p.m.–Florida Senate Committee on Banking and Insurance meeting. To view the agenda, click here.
- Presentations on the National Flood Insurance Program
- Citizens Property Insurance Corporation (“Citizens”) presentation on commercial rating issues and coverage of out-of-state residents
3:30 p.m. to 5:30 p.m.–Florida House Insurance and Banking Subcommittee meeting. To view the agenda, click here.
- Citizens presentation on non-catastrophic loss experience and coverage issues
Daily Florida Insurance-Related News
Florida property insurer to pay $1.26 million fine
Florida’s second largest property insurer is paying a fine of $1.26 million, the Tampa Tribune’s James Rosica reports.
PolitiFact: Floridians – and others – give more than they get from flood program
Politifact determines that Florida hasn’t been alone in paying more into the National Flood Insurance Program than it’s receiving back in claims. Thirteen states had an even higher ratio, and Colorado was the highest. (Florida was tied for 14th with Montana.), the Miami Herald’s Amy Sherman reports.
Water levels are falling in Lake Okeechobee
The U.S. Army Corps of Engineers said Monday that the lower water levels in Lake Okeechobee mean they can start reducing the amount of water being released from the lake to relieve pressure on its aging earthen dike, the Associated Press reports via Tampa Tribune.
Former FEMA administrator tapped to head Jacksonville emergency management division
As Jacksonville residents knock on wood and hope hurricane season will remain quiet, a former FEMA executive began working Monday as the administrator who would take charge if the Big One hit, David Bauerlein reports for the Florida Times-Union.
U.S. Supreme Court Rejects Tobacco Companies’ Appeal of Florida Case
The U.S. Supreme Court rejected the tobacco industry’s appeal of a Florida ruling that may help thousands of smokers sue cigarette makers over smoking-related illnesses, Bloomberg’s Greg Stohr reports via Insurance Journal.
Colodny Fass Leads Clients to Legislative Success
Colodny Fass ranks No. 9 on Sunshine State News’ list of Top Lobbying Firms, Allison Nielsen reports for SunshineStateNews.com.
A massive expansion of gambling throughout Florida could boost state coffers by $1 billion a year instead of a $22 million loss previously estimated, authors of a gaming study told a Senate committee on Monday, THE NEWS SERVICE OF FLORIDA’s Dara Kam reports via SunshineStateNews.com.
Senate panel to consider “Stand Your Ground” revisions
On Tuesday, Florida lawmakers will begin considering modifying the law, which allows someone with “a reasonable fear of imminent death or great bodily injury” to use deadly force, Aaron Deslatte reports for the Orlando Sentinel.
Qualifications hearing on Judge Judith Hawkins begins
A former federal prosecutor told a judicial panel Monday that Leon County Judge Judith Hawkins flagrantly abused her office by running a private business out of her chambers and by trying to cover her tracks when investigators began asking pointed questions, Bill Cotterell reports for The Florida Current.
Florida workforce agencies get set to rebrand
To meet a state effort to rebrand Florida’s workforce centers, WorkForce One will become CareerSource Broward in February while Workforce Alliance will become CareerSource Palm Beach during the first quarter of 2014, Marcia Heroux Pounds reports for the Sun Sentinel.
Hays and Ring recommend repeal of lobbyist auditing law
A never-enforced mandate for the Florida Legislature to audit lobbyists could cost more than $1 million, a price fueling calls to repeal parts of the 2005 ethics reform intended to crack down on the chummy nexus of politicians and wealthy interests, Aaron Deslatte reports for the Orlando Sentinel.
Customer cries foul after home inspectors close ranks
A family in the St. John’s area says they’re being stuck with a big bill because of something their home inspector missed, and charge that others in the industry are closing ranks around them, CBC News reports.
Have Property-Casualty Valuations Reached a New Equilibrium?
Property-casualty insurance stocks have now risen beyond the sub-book-value multiples that existed for many companies over the preceding four years to reach a modest premium to book value. This valuation level appears to be at equilibrium, according to a new study by Conning.
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