Capitol to Courthouse Florida Insurance Report: Wednesday, May 27, 2015
May 27, 2015
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Daily Florida Insurance-Related Events
1:00 p.m.–Florida Department of Revenue Proposed Rule Hearing. Tallahassee, Florida. Proposed amendments to Rule 12B-8.001, “Insurance Premium Tax; Rate and Computation,” address the computation of the installment payment amount required to meet the prior year exception pursuant to s.624.5092, F.S., when a taxpayer has made one or more qualifying contributions to eligible nonprofit scholarship-funding organizations. Section 17, Chapter 2014-184, Laws of Florida, provides that, for purposes of determining if a penalty under s.624.5092 should be imposed on the underpayment of an installment, an insurer may reduce the installment amount required to meet the prior year exception in that taxable year by the amount of the credit earned under s.624.51055 (Credit for contributions to eligible nonprofit scholarship-funding organizations). To view the hearing notice, click here.
Daily Florida Insurance-Related News
Gardiner Proposes Medicaid Compromise; Rick Scott Isn’t Thrilled
While Florida lawmakers gear up for a special session beginning next week in Tallahassee, a co-star in the cast of next week’s extravaganza is putting forward what he dubs a “compromise” on the issue dividing the House and Senate: Medicaid expansion. Allison Nielson reports for SunshineStateNews.com.
State of Florida releases personal data on 13,000 people, issues fraud alert
For the second time in two months, Governor Rick Scott’s administration has acknowledged it inadvertently released confidential personal data of private citizens, prompting the state to offer free credit monitoring services to protect people from identity theft. Tampa Bay Times Steve Bousquet reports.
University of West Florida, Space Florida sign cybersecurity pact
Pensacola News Journal reports that Space Florida has signed a three-year memorandum of understanding with the University of West Florida Center for Research and Economic Opportunity to further develop the state’s cybersecurity technologies.
Officials to release hurricane season forecast
The head of the National Oceanic and Atmospheric Administration will release its forecast for the Atlantic hurricane season today, the Associated Press reports via SaintPetersBlog.com.
Experts tie hurricane changes to climate change
Climate change may be triggering an evolution in hurricanes, with some researchers predicting the violent storms could move farther north, out of the Caribbean Sea and the Gulf of Mexico, where they have threatened coastlines for centuries. The Tampa Tribune reports via Advisen.com.
FEMA Reconsidering Private Insurers’ Role in Flood Insurance
Federal officials have agreed to consider a proposal calling for an end to the federal flood insurance model that allows private insurance carriers to write and service policies, Insurance Journal reports.
Banks hope to benefit from high court ruling on disparate impact
If the state of Texas prevails in a civil rights case about to be decided by the U.S. Supreme Court, landlords and developers will have an easier time defending themselves in housing discrimination lawsuits, Reuters reports.
Windstorm Insurance Reform Bill Passes Texas House
Texas State Representative Todd Hunter announced Monday that Senate Bill 900 has passed the Texas House of Representatives — a victory for lawmakers who have been fighting for windstorm insurance reform, KIII-TV reports.
Texas Hailstorm Bill Opponents Fear Rebirth in Insurance Bill
The Texas House of Representatives has killed a bill that would have changed litigation between property owners and insurance companies that failed to pay claims fully or promptly. But some opponents warn that Senator Larry Taylor, R-Friendswood, intends to revive some of the dead Senate Bill 1628’s provisions as amendments to another bill, TexasLawyer.com reports.
Texas Bill Limiting Accident Report Info Advances
The Texas Senate has voted to bar law enforcement from giving the media the names of people involved in traffic accidents, Insurance Journal reports.
Insurers Get Ready to Comply With New Mississippi Property Insurance Clarity Act
Property insurers in Mississippi have until October 1, 2015 to respond to the Mississippi Insurance Department’s first call for homeowners’ insurance policy data that will be used to satisfy the requirements of the new Mississippi Property Insurance Clarity Act, Insurance Journal reports.
Marcell Exits Guy Carpenter; Newhouse Named Interim CEO of U.S. Operations
Reinsurance specialist Guy Carpenter & Co. has appointed of Britt Newhouse, chairman, to the additional role of interim CEO of U.S. Operations. This appointment is effective immediately. At the same time, the firm announced the departure of Andrew Marcell, former CEO of U.S. Operations, Insurance Journal reports.
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