Capitol to Courthouse Florida Insurance Report – Wednesday, June 08, 2016
Jun 8, 2016
Departing Insurance Commissioner Warns South Florida to Solve Insurance Claims Crisis
Preparing to leave State Government after 27 years, former Florida Insurance Commissioner Kevin McCarty warned that South Florida faces further property insurance rate increases if a solution isn’t found to water claims abuses. Ron Hurtibise reports for the Sun-Sentinel.
Most Floridians Believe a Hurricane Will Make Landfall this Season, Poll Says
The number of Floridians concerned about a hurricane striking this season has doubled since last year – 67 percent believe a hurricane will make landfall this year, up from 34 percent in 2015. Ariella Phillips reports for the Florida Times-Union.
Years later, Countrywide Exec’s Role in Financial Crisis still Debatable
The fall and rise of Rebecca Mairone, now Rebecca Steele, illustrates the murkiness of assigning blame for the housing bubble. She was the lone executive to be prosecuted on civil fraud charges, and just last month, she found some vindication when an appeals court threw out the jury’s ruling of liability against her. Crain’s Miami notes the Wall Street Journal story.
Florida Supreme Court Justices Try to Sort Out Death Penalty Law
The Florida Supreme Court on Tuesday heard arguments in a case focused on whether the state’s new death penalty law is constitutional, and, if so, whether it applies to cases already in the pipeline when the law passed in March. THE NEWS SERVICE OF FLORIDA’s Dara Kam reports via SayfieReview.com.
Justices Wade into Murky Waters of Gaming Law to Hear Fight Over Expanding Slots
Did the Florida Legislature quietly intend to allow counties to expand slot machines anywhere in the state in 2010 when it modified a statute that was initially intended to allow Hialeah Race Course to operate slot machines? The Miami Herald’s Mary Ellen Klas reports for the “Naked Politics” blog.
State Lawmaker from Broward calls for Zika Special Session
With Zika funding stymied in Congress, state Rep. Jared Moskowitz, D-Coral Springs, is calling on the Florida Legislature to hold a Special Session to address a domestic Zika virus outbreak. Dan Sweeney reports for the Sun-Sentinel.
Added Accountability Urged At Florida’s Space, Tourism Agencies
Operations at the state’s public-private space and tourism agencies appear financially sound, even as one has paid undisclosed amounts to a Miami rapper and an English football club. THE NEWS SERVICE OF FLORIDA’s Jim Turner reports via Miami CBS-Local.
David Rivera Challenges Florida House Speaker’s Power Before Appeals Court
In the latest development in a years-long ethics case against former U.S. Rep. David Rivera, an attorney for the Miami Republican argued before an appeals court on Tuesday that the speaker of the Florida House has no legal authority to impose penalties on former state lawmakers who violate ethics rules while in office. Kristin M. Clark reports for the Tampa Bay Times.
Florida Leads Nation in Toll Roads
Florida has 719 miles of toll roads crisscrossing the state — the most in the nation, according to federal data. Jason Ruiter reports for the Orlando Sentinel.
Wieske Appointed Wisconsin’s Deputy Commissioner of Insurance
J.P. Wieske, a veteran of Wisconsin’s insurance regulatory agency, has been appointed the state’s deputy commissioner of insurance, the Milwaukee-Wisconsin Journal-Sentinel reports.
Earthquake-Insurance Rate Hikes to Require Oklahoma Regulator’s Approval
The market for earthquake insurance in Oklahoma is noncompetitive, state Insurance Commissioner John Doak has determined, and insurers will have to file any increases with regulators. Some insurers have recently sought rate increases as high as 300 percent. “Each file-and-use process will mean more regulator oversight of the products, and we think that is a negative for the market,” said Joe Woods of PCI.
Marsh Reports on How to Avoid D&O Policy Pitfalls, Declined Claims
When a directors and officers claim is declined, it can be catastrophic for an insured, forcing the company to deal with “the financial costs of a claim or loss entirely on its own,” according to a report published by Marsh.
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