Capitol to Courthouse Florida Insurance Report: Wednesday, April 29, 2015
Apr 29, 2015
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Daily Florida Insurance-Related Events
10:00 a.m.–U.S. House U.S. House Financial Services Insurance and Banking Subcommittee Hearing: The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers. Florida Insurance Commissioner Kevin McCarty to testify. For more information, click here.
Daily Florida Insurance-Related News
Florida House abruptly calls it quits
Shortly after 1 p.m. yesterday afternoon in the Florida House, Speaker Steve Crisafulli stunned observers when he announced that the House would be breaking early, three days before the legislative session’s scheduled conclusion, because of the continued impasse with the Florida Senate regarding Medicaid expansion. SaintPetersBlog.com’s Mitch Perry reports.
- House makes history with early exit, nose-thumb to Senate
- Senate continues Session after House’s abrupt sine die
- Bills dying en masse as House adjourns Sine Die
- Bills passed, put in limbo and left for dead by the Florida House
- Chambers Adjourn on Separate Days For First Time Since 1972
- Cracks in Crisafulli’s House: Pilon “surprised, very disappointed”
- Florida Senate warns that intervention by Governor would be “paternalistic”
- The Buzz Help Guide to What Just Happened
- Healthcare train doesn’t make it out of station before House calls it quits
Citizens depopulation bill sneaks through to Scott before adjournment
The Florida House’s sudden adjournment today killed a lot of bills, but not those the House already passed and the Senate needed to approve — and one that got through affects customers of state-run Citizens Property Insurance, the Palm Beach Post’s Charles Elmore reports via the “Protecting Your Pocket” blog.
PCI Disappointed with Florida House for Not Addressing Rideshare Insurance Gaps
The Florida House of Representatives adjourned “sine die” three days prior to the end of Session without addressing rideshare insurance gaps, PCI’s Regional Manager for State Government Relations, Logan McFaddin noted.
Scott lawsuit takes aim at federal health officials
As a standoff over Medicaid expansion brought the legislative session to an unexpected halt on Tuesday, Governor Rick Scott filed a lawsuit claiming that the federal government tried to force the health care policy upon Florida. Kathleen McGrory reports via the Tampa Bay Times’ “The Buzz” blog.
Tom Grady appointed to Naples pension board
Tom Grady, former state legislator and Naples attorney, was recently appointed to the city of Naples General Pension System Board of Trustees, the Naples Daily News reports.
Jeff Brandes’ “Right to Try” Act heads to Governor’s desk
A compassionate bill aimed at patients suffering from terminal illnesses is on its way to the governor’s desk, Janelle Irwin reports for SaintPetersBlog.com.
NAIC Testifies Before Congress
Kevin M. McCarty, Florida Insurance Commissioner and past NAIC president, testified before Congress yesterday on behalf of the NAIC.
Fed Promises to Keep Light Hand on Insurance
The Federal Reserve sought to reassure skeptical members of the Senate Banking Committee and concerned state regulators today that it will not unilaterally impose international capital standards on domestic insurers. Arthur Postal reports for InsuranceNewsNet.com.
Global Regulators’ Influence Over U.S. Called Inappropriate
A member of the U.S. panel charged with preventing another financial crisis said he’s concerned that global regulators have too much sway over American policy, especially on insurance, Bloomberg Business reports.
Hoeven Presses FEMA Head On Alleged Fraud in Flood Insurance Estimates for Sandy Victims
At a recent hearing of the U.S. Senate Appropriations Committee on Homeland Security, Senator John Hoeven pressed Federal Emergency Management Agency Administrator Craig Fugate to outline steps he is taking to address charges that thousands of Hurricane Sandy homeowners were underpaid on their claims because of apparent wide-spread fraud. InsuranceNewsNet.com reports.
Michigan no-fault auto insurance reform gets growing opposition
As the Michigan House of Representatives prepares to vote on a bill, perhaps later this week, that would make major changes to Michigan’s no-fault auto insurance system, opposition to the proposal is ramping up, Kathleen Gray reports for the Lansing State Journal.
North Carolina lawmakers push reforms to homeowners insurance
Homeowners who are paying higher premiums despite the North Carolina Insurance Commissioner’s rejection of a rate increase last year would get some relief under an assortment of bills under consideration in the N.C. General Assembly. Tricia Vance reports for LuminaNews.com.
Zurich Calls for “Supranational” Oversight to Strengthen Cyber Security
A new report on cyber governance commissioned by Zurich Insurance Group highlights challenges to digital security and identifies new opportunities for business. The sturdy calls for the “establishment of guiding principles to build resilience and the establishment of supranational governance bodies such as a Cyber Stability Board and a “Cyber WHO,” Insurance Journal reports.
Deloitte’s Top Insurance Regulatory Trends for 2015
The insurance industry can expect to face new rules and modified requirements that could significantly affect how companies operate, Deloitte says.
“Know Your Customer’s Customer” Goes Global
For more than a decade, U.S. regulators have been advising bankers to know more about their customers than who they are. In the next five years that may become the global norm as technology allows more granular transaction monitoring. Bailey Ruetzel reports for American Banker.
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