Capitol to Courthouse Florida Insurance Report – Wednesday, June 15, 2016
Jun 15, 2016
Troubled Waters Panel Wades into Divisive Insurance Fight
The CEO of one of Florida’s 10 biggest property insurers told a forum in Boca Raton Tuesday that inflated water-damage claims are “morally wrong” and hurt all consumers by raising rates, while an attorney accused insurers of crying wolf about the latest “crisis” that serves their own needs. The Palm Beach Post’s Charles Elmore reports.
Central Florida-Based Insurance Office of America buys Eagle American
Longwood-based Insurance Office of America, one of Central Florida’s largest privately held companies, has acquired Eagle American Insurance Agency, the Orlando Business Journal reports.
Some Florida Lawmakers to Call For Special Session to Prevent Shootings
Florida Senator Darren Soto, D-Orlando, says he’s developed a plan to help prevent mass shootings like the Sunday morning massacre at Pulse Nightclub in downtown Orlando. Gray Rohrer reports for the Orlando Sentinel.
After months of deliberation, Hillsborough County Republican Tom Lee has apparently decided to run for re-election to the newly created Senate District 20 seat later this fall, Mitch Perry reports for FloridaPolitics.com.
Musical Chairs in Play in South Florida’s Legislative Races
More shake-ups in South Florida’s legislative races may be coming down the pike, FloridaPolitics.com’s Peter Schorsch reports.
Monroe County Seeks Tax Money From Airbnb
Airbnb will not offer Monroe County is information on its client “hosts” — property owners who advertise and book vacation rentals in the Keys, FloridaKeysNews.com’s Kevin Wadlow reports.
Florida Bank Issues First US Credit Card for Use in Cuba
A small Florida Bank will issue the first U.S. credit card intended for use in Cuba and make it easier for Americans to travel and work on an island largely cut off from the U.S. financial system, the Naples Daily News reports.
New .Insurance Domain Names Now Available
The internet domain extension reserved for the global insurance industry— .insurance — will become available starting today, June 14, at 8 p.m. ET. Insurance Journal’s Andrew Simpson reports.
Allstate Returns to California Homeowners Market With 12.6 Percent Reduction
Allstate Insurance returned to the California Homeowners Insurance Market this week following a nine-year absence writing new policies, Insurance Journal reports.
FINRA Names New CEO to Replace Ketchum
FINRA has turned to a former top Securities and Exchange Commission Official, Robert W. Cook, to replace the outgoing Richard Ketchum as Chief Executive, InvestmentNews.com reports.
Fitch: UK Law Change May Squeeze Commercial Insurance Margins
Changes to UK legislation intended to make it harder for insurers to dispute commercial insurance claims could lead to more intense price competition and slimmer margins for the sector, Fitch Ratings says.
Insurers Cover Stored Cash for Banks
Insurance for cash storage is popular in Germany, reports Reuters.
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