Capitol to Courthouse Florida Insurance Report–Wednesday, November 12, 2014
Nov 12, 2014
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Daily Florida Insurance-Related Events
There are no events scheduled for today.
Daily Florida Insurance-Related News
Homes evacuated after sinkhole swallows car in Florida
Several homes have been evacuated and a car has been swallowed by the earth after a possible sinkhole opened up in a Florida driveway Monday, the Orlando Sentinel reports.
Limited government group says Floridians should beware of “federal reinsurance tax scheme”
Unfortunately, federal legislation threatens to undo the progress made to protect Florida taxpayers by penalizing global insurance and reinsurance capacity that is so critical to Florida’s ability to bounce back from hurricanes and other natural disasters, says Pete Sepp, who leads a limited government group called “National Taxpayers Union.”
Texas trial lawyer spent $1.2 million on Florida governor’s race
Known as “Hurricane Mostyn,” a Texas trial lawyer made hundreds of millions in attorney’s fees in the wake of Hurricane Ike by filing thousands of lawsuits against the Texas Windstorm Insurance Association – the lone provider of windstorm insurance for Texas gulf coast residents, David Yates reports for the Southeast Texas Record.
Tampa Bay Times Editorial: Insurance trickery must stop
Citizens Property Insurance should be up front with its customers about their options for homeowners insurance even as it tries to shed policies to lessen its liability, the Tampa Bay Times Editorial Board writes.
Report: Florida hospitals could lose billions without Medicaid expansion
Florida legislators’ refusal to expand the eligibility criteria for Medicaid as called for under the Affordable Care Act might cost billions of dollars in lost funding for hospitals that treat many uninsured patients, according to a report released Monday by Florida Legal Services, a nonprofit legal advocate for the poor. The Miami Herald’s Dan Chang reports via the “Naked Politics” blog.
Miami-based HealthCare.com lands $7.5M in funding
Led by Priceline.com executives, HealthCare.com landed $7.5 million in funding, Celia Ampel reports for the South Florida Business Journal.
Simmons named new Senate Rules Committee chair
Senator David Simmons, R-Altamone Springs, has been named by Senate President-Designate Andy Gardiner, R-Orlando, as the new chair of the Senate Committee on Rules, the Miami Herald’s Rochelle Koff reports via the “Naked Politics” blog.
Dates set for special elections for three northeast Florida legislative seats
On Monday, Governor Rick Scott announced the schedule for the elections triggered by Senator John Thrasher’s resignation. Thrasher resigned Sunday to become president of Florida State University, James Call reports for SaintPetersBlog.com.
- Thrasher’s Senate resignation sets off special-election dominoes
- First Day on the Job for Thrasher at FSU: Facing Confrontational Students
Coming to Boca: GOP parade of potential 2016 presidential candidates
Next week’s Republican Governors Association annual conference will be a chance for several potential 2016 presidential candidate to size each other up at the Boca Raton Resort and Club. George Bennett reports for the Palm Beach Post’s “Post on Politics” blog.
Florida doesn’t count votes for “Mickey Mouse” any more
More and more, however, Florida elections officials with limited staff and resources aren’t keeping track of write-in votes for candidates who didn’t qualify to run, Tampa Tribune’s James Rosica reports.
Hurricane Sandy Judge in New York Blows Whistle on Insurance Industry Fraud
A recent dispatch on how CSX Transportation (CSX) used the federal anti-racketeering law to go after plaintiffs’ attorneys bringing phony asbestos claims prompted a reader to point out some chicanery within the defense bar, Paul M. Barrett reports for Bloomberg BusinessWeek.
New York Department of Financial Services Superintendent Lawsky Considering 2015 Exit Plan
New York’s top banking regulator Benjamin Lawsky, who used his leverage to stiffen penalties against some of the world’s largest financial institutions, will probably step down next year to take a job in the private sector, said a person familiar with the matter. Bloomberg’s Greg Farrell reports via Insurance Journal.
Katrina, Rita Flood Settlement Letters Mailed Out in Louisiana
Letters are going out this week to residents and businesses in New Orleans, St. Bernard Parish and the east bank of Jefferson Parish notifying them they could receive payments ranging from $1 to $463 for flood damage during Hurricanes Katrina and Rita, the Associated Press reported via Insurance Journal.
Texas Legislator Guilty Of Misdemeanors in Ambulance Chasing Scheme
A Texas legislator accused in an ambulance chasing scheme has been found guilty of six counts of misdemeanor solicitation of professional employment, a lesser charge than the felony barratry charge he faced, Insurance Journal reports.
Excess flood insurance – when the federal plan isn’t sufficient
The National Flood Insurance Program provides residential structure coverage up to $250,000 limit, $100,000 for contents and $500,000 for commercial structures. The U.S. House recently passed H.R. 4973, which would increase the NFIP’s borrowing authority and raise residential limits to $335,000 for structures, $135,000 for contents, and $670,000 for commercial buildings. The bill has been moved to the Senate for consideration. Britton Wells writes for Insurance Journal.
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