Capitol to Courthouse Florida Insurance Report: Wednesday, August 3
Aug 3, 2011
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Daily Florida Insurance-Related Events
There are no insurance-related events scheduled for today.
Florida insurance commissioner urged to phase in Citizens rate hike
While Insurance Commissioner Kevin McCarty concedes that some rate hike is inevitable, he said he will look at how high Citizens Property Insurance wants to raise its rates for sinkhole coverage. Chief Financial Officer Jeff Atwater wants McCarty to look at a “glide path” for raising rates for those homeowners who need to maintain their sinkhole policy.
Florida Insurance Commissioner Kevin McCarty: Citizens rate hike could be rejected over fraud law
Florida Insurance Commissioner Kevin McCarty intimated Tuesday that he may not agree to a request by Citizens Property Insurance to immediately raise rates for optional sinkhole insurance by more than 400 percent on average.
Citizens Sinkhole Rate Hike Request to Get Stern Review
State-backed Citizens Property Insurance is seeking a statewide 429 percent rate hike for sinkhole coverage, but Florida’s top insurance regulator said Tuesday that new protections against frivolous claims were likely not taken into account.
Citizens Actuary John Rollins: Citizens’ rate request quantifies subsidy to abusive claimants
The recent rate increases proposed by Citizens Property Insurance Corp. for optional sinkhole activity coverage, while eye-popping in a few regions, are not surprising to actuaries.
Senator Mike Fasano and Policyholders of Florida will be lining up along Little Road in front of the Pasco County Government Center on August 16, 2011 to wave signs and express their opposition to the proposed sinkhole rate increases sought by Citizens Property Insurance Corporation.
CFO Jeff Atwater Calls for Review of Checking Cashing Services Aiding in Workers’ Compensation Fraud
At a Cabinet meeting today, Florida Chief Financial Officer Jeff Atwater announced the creation of a working group to review the practices of certain bad actors in the check cashing services industry aiding in workers’ compensation premium fraud, which is putting pressure on rates and crippling the business community.
Florida Governor Suggests Making PIP Coverage Optional for Drivers
Florida drivers should have the option to forgo purchasing what is now mandatory auto personal injury protection coverage, says Gov. Rick Scott.
State agency releases details of sweeping Medicaid waiver request
Florida formally asks the federal government to approve an overhaul of the state’s $22 billion Medicaid program.
Proposed shift in Florida primary may force change in city election dates
Most Palm Beach County cities and towns may have to shift their election dates to coincide with a potential shift in Florida’s 2012 presidential primary, Supervisor of Elections Susan Bucher is warning.
Florida Attorney General Bondi calls for outside review of dismissals
Bondi insists that the decision to force two foreclosure fraud investigators to resign was based on job performance and not politics. She said she wants an outside inspector general to review how the dismissals were handled.
Conservative legal foundation creates property rights institute to beef up Florida presence
The institute is named in honor of lobbyist Wade Hopping, who died in 2009 and served on the board of the Pacific Legal Foundation. But environmental attorney Monica Reimer says property rights defense should not extend to a narrow few.
Florida Retail Federation defends sales tax holiday
The Florida Retail Federation on Tuesday defended the state’s upcoming sales tax holiday on back-to-school purchases against arguments that such breaks do little or nothing to stimulate the economy or benefit consumers.
Governor Scott logs a ‘workday’ in Tampa doughnut shop
Gov. Rick Scott is going back to his roots: by selling doughnuts.
Nevada Insurance Commissioner Resigns
Nevada’s State Business & Industry Director Terry Johnson today announced that two agencies within his department will see a change in leadership.
Big Changes Possible for New Jersey PIP Auto-Insurance System
The New Jersey Department of Banking and Insurance is looking to revise personal-injury protection regulations less than two years after prior reforms made their way out of legal wrangling.
Ogilvie workers comp award decision reversed by court
California’s 1st District Court of Appeal has reversed a decision in an ongoing and controversial workers compensation case in California.
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