Capitol to Courthouse Florida Insurance Report: Tuesday, September 10
Sep 10, 2013
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
1:00 p.m. to 3:00 p.m.–Florida Department of Business and Professional Regulation Rule Development Workshop. Discussion of proposed language for new Rule Chapter 61-31, F.A.C., which pertains to the licensing and regulation of mold assessors and remediators in Florida under Section 648.84, F.S. To view the Workshop notice, click here.
1:00 p.m.–Florida Workers’ Compensation Joint Underwriting Association Rates and Forms Committee meeting. Sarasota, Florida. To view the agenda, click here.
Daily Florida Insurance-Related News
Florida OKs Citizens insurance rate hikes
Florida regulators are signing off on rate hikes for hundreds of thousands of Citizens customers, the Associated Press reports via Sarasota Herald-Tribune.
Concerned that Florida customers of Citizens Property Insurance could be “duped” into trading their policy from the state-run carrier to a private insurer, a state senator on Monday called for the company to provide clearer warnings to customers about the unknowns involved, Mary Ellen Klas reports on the Miami Herald’s “Naked Politics” blog.
Column: Citizens Takeovers May Cause Confusion
If you’re a homeowner with state-run Citizens property insurance, expect a lot more upheaval and confusion in the coming months, writes Sun-Sentinel columnist Mike Mayo.
John Rollins, an insurance analytics guru who was appointed to Citizens Board of directors by Gov. Rick Scott two years ago, submitted his resignation from the board today in a letter to the governor, Mary Ellen Klas reports on the Miami Herald’s “Naked Politics” blog.
Sachs hosts property insurance workshop
State Sen. Maria Lorts Sachs will host four free workshops this week to allow South Florida consumers take their property insurance questions and concerns directly to state government officials – but some of those officials won’t be there, reports Maria Mallory White for the Sun-Sentinel.
Audit of clerks of court group finds lapse in property insurance
An audit of the Florida Clerks of Court Operations Corp. published last month found lax policies for purchasing, use of state credit cards and travel vouchers, as well as the fact it let its property insurance lapse for nearly three years, reports Gray Rohrer for The Florida Current.
New flood insurance rules have consequences for Florida’s economy
Seeking ways to help the Federal Emergency Management Agency climb out from under an enormous deficit built up from storms like Hurricane Katrina, both houses of Congress agreed the federal government would no longer subsidize flood insurance, writes Tampa Bay Times columnist John Romano.
Florida Tobacco Ruling Applies in Federal Cases, Court Says
Reynolds American Inc.’s R.J. Reynolds Tobacco unit lost its bid to overturn jury verdicts over smoking-related deaths after arguing that federal courts shouldn’t apply a ruling by the Florida Supreme Court that made it easier for smokers to prove their cases, Bloomberg’s Bob Van Voris reports in Insurance Journal.
Blog: State Representative Rouson closes fundraising account, but Crisafulli keeps his open
According to Florida’s Division of Elections, the controversial Florida House Democratic Caucus Affiliated Party fundraising committee opened by Rep. Darryl Rouson was closed on Monday, Michael Van Sickler writes in the Miami Herald’s “Naked Politics” blog.
Initial state trails sponsorship offer falls short of expectations
A state program to allow businesses and groups to sponsor state trails has produced a single proposal that would pay the state 30 percent of the revenue from selling that space on signs, reports Bruce Ritchie for The Florida Current.
JP Morgan, Assurant Settle Force-Placed Insurance Claims for $300 Million
JPMorgan Chase & Co and a major insurer have agreed to a $300 million settlement to resolve accusations that they forced homeowners into over-priced property insurance and entered into kickback arrangements that inflated the policies’ prices, Reuters reports via Insurance Journal.
Fitch Says Alternative Capital to Fuel Reinsurance Deal Making
Mergers and acquisitions in the reinsurance industry may rise in coming years because of higher valuations and the inflow of alternative capital, according to Fitch Ratings Ltd., Carolyn Banel reports for Bloomberg.
Editorial: Federal Insurance Office should serve as sole voice for industry
When an international organization recommends changes in U.S. insurance regulatory practices, feathers are certain to be ruffled.
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