Capitol to Courthouse Florida Insurance Report: Wednesday, June 27
Jun 27, 2012
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
9:00 a.m.–Florida Board of Employee Leasing Companies Board Meeting. Teleconference: (888) 670-3525; participant code: 7489217568. To view the meeting notice, click here.
RMS Update on Tropical Storm Debby in Florida
Over the last 24 hours, Tropical Storm Debby (located over the northeast Gulf of Mexico) has slowly moved towards the Florida coast, bringing tropical storm winds to a large part of western Florida, including the panhandle and extending into southeast Alabama and southwest Georgia.
Report on Citizens’ Property Insurance liability vs. private insurers’ pulled from web
Florida’s Insurance consumer advocate has pulled a report indicating that private insurers would need a bailout greater than state-run Citizens Property Insurance after most major hurricanes.
Florida Cabinet eyes insurance as Debby soaks state
The storm that dumped rain on much of Florida for three days came during new Citizens Property Insurance CEO Barry Gilway’s first week on the job.
Tropical Storm Debby a test for new Citizens Property Insurance Chief Executive Officer Barry Gilway
In the time it took the new Citizens Property Insurance CEO to brief Governor Rick Scott and the Cabinet on early claims from Tropical Storm Debby, the growing number of claims had to be revised.
New Citizens Property Insurance Leader Suggests Breaking 10 Percent Cap on Rate Hikes
In office a week, Barry Gilway, new president of Citizens Property Insurance, said he understands the aversion of officials and property owners to large-scale hike rates.
Citizens Property Insurance gets 1,300-plus Debby claims, mostly from Hillsborough
New Citizens Property Insurance chief Barry Gilway was on the job for less than a week when the summer’s first big tropical storm reached Florida’s shores.
Levy County assesses Debby’s damage
The biggest damage from Tropical Storm Debby seemed to be sinkholes opening in Chiefland, Williston and the county with wind and high water damage in Cedar Key, where Dock Street took a lashing.
Storm insurance helps residents
Residents thank their Insurance despite damage to their homes from Tropical Storm Debby.
Debby creates dozens of sinkholes in Hernando County
It’s not just the relentless rain and sudden wind gusts that make Tropical Storm Debby so punishing as it leaves behind a mess of flooding and scattered debris across the Tampa Bay area.
Six foot sinkhole reported along I-10 in Madison County
One lane of traffic is currently closed along I-10 in Madison County due to a sinkhole, according to the Florida Department of Highway Safety and Motor Vehicles and the Department of Transportation.
Sinkhole opens up near Plant City
The Hillsborough County Sheriff’s Office deputies and County Maintenance are on scene of a large sinkhole on Jerry Smith Road in eastern Hillsborough County near Plant City.
Multiple sinkholes open in Trillium
Chris Cook heard the suction from inside his house Sunday night.
Minor damage claims complicated
When a storm only slightly damages your house, should you file a claim? Or will that jack up your premiums?
Debby’s damaged beaches may hurt tourism industry
On Tuesday morning, people in Pass-a-Grille woke up to a nauseating realization: The beach was gone, washed away by two days of pounding by Tropical Storm Debby.
Florida Trend Magazine: Property insurance in Florida is a house of cards
Thanks to surpluses, Florida’s insurance system is equipped to handle a small storm this year with ease. Beyond that, the pain cascades.
Floridians think of hurricanes in terms of Category 1 through 5, but the only thing that matters about a storm in terms of Florida’s ability to financially withstand one is the amount of damage it causes – insured losses.
Every year, about 47,000 property owners on the coast of South Carolina pay millions of dollars to a special insurance organization that funnels nearly all of this money to a group of super-wealthy companies in Bermuda, Switzerland and other far-flung locales.
PIP reform, school prayer, video voyeurs targets of new laws
After Sunday, school districts can begin allowing prayer in public schools. Police will be able to crack down on voyeuristic videographers. And major changes to the state’s no-fault auto insurance system will kick in.
Blog: Challenges ahead for new Florida surgeon general Armstrong
The state’s new surgeon general says he has no delusions about the tough job before him.
Expiring budget language complicates battle over privatization
Lawyers for the state told a Leon County judge Tuesday that the lawsuit attempting to block the privatization of health care services in Florida’s prisons is about to become moot.
3 Florida State Law Enforcement Agencies Merging
State environmental and agriculture officers are swapping their uniforms for the tan and green togs of Florida wildlife officers.
Insight: Evidence suggests anti-foreclosure laws may backfire
State and federal laws enacted to protect homeowners from eviction in the wake of the 2008 housing crash may be extending the slump, according to a growing number of economists and industry experts.
Pinellas property appraiser to testify before House subcommittee
A St. Petersburg property appraiser will testify before a congressional committee on Thursday about the impact of appraisal oversight brought about after the collapse of the housing market.
Fight over barrel racing license resumes
Quarter horse racing industry groups are challenging state regulators’ decision to issue a license for barrel racing to Gretna Racing LLC.
Every year, about 47,000 property owners on the coast of South Carolina pay millions of dollars to a special insurance organization that funnels nearly all of this money to a group of super-wealthy companies in Bermuda, Switzerland and other far-flung locales.
Bermuda on Track to Comply with EU Insurer Rules
Bermuda is on course to bring capital rules for insurers into line with theEuropean Union’s tough new Solvency II regime, the island’s financial regulator said.
Texas Supreme Court: Bad Faith Tort Inconsistent with Workers’ Compensation System
In what has been called a landmark decision, the Supreme Court of Texas has found that a bad faith cause of action is inconsistent with the current workers’ compensation system.
Consumer Federation of America Defends Claim-Manipulation Accusation Amid Industry Criticism
The Consumer Federation of America issued a fact sheet responding to industry criticisms of its recent report alleging insurer misuse of computer-claims systems to reduce payouts.
News Release: The Katie Froeschle Story –A Safety Message for All On-Site Professionals!
Whether you’re an insurance adjuster, appraiser, real estate professional or governmental agent, there is documented risk in entering other people’s homes … especially when they are under duress.
Click here to follow Colodny Fass on Twitter (@CFTLAWcom)
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