Capitol to Courthouse Florida Insurance Report–Wednesday, September 10, 2014
Sep 10, 2014
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
10:00 a.m.–Florida Workers’ Compensation Joint Underwriting Association Annual Membership and Board of Governors meeting. To view the agenda, click here.
11:00 a.m. to 12:00 p.m.–Florida Citizens Property Insurance Consumer Services meeting. Teleconference: 866-361-7525; access code: 6487811620#. To view the meeting notice, click here.
Daily Florida Insurance-Related News
On Citizens take-outs, clear-outs, opt-outs
If you’re among the 241,892 homeowners, condo dwellers and businesses in Broward and Palm Beach counties insured by state-run Citizens Property Insurance, brace yourself for major upheaval and confusion, the Sun-Sentinel’s Mike Mayo writes in his column.
Insurer walks free in tricky sinkhole claim
An interesting insurance suit case filed by Florida homeowner, Kathy Johnson, was reversed last Friday overturning the initial ruling ordering Omega Insurance Co. to pay her attorney’s fees in a dispute over coverage for sinkhole damage, Brent Harrison writes for Insurance Business America.
A report by Robert Hartwig, president of the Insurance Information Institute, and Claire Wilkinson analyzes the changes taking place within the residual property market, which consists of a myriad of different programs in place across the United States to provide insurance to high-risk policyholders who may have difficulty obtaining coverage from the standard market.
Some sound advice for dealing with South Florida cast iron plumbing woes
Over the past several years, many older South Florida homes have experienced a failure of their cast-iron wastewater pipes, Hal Feldman writes for Miami-Dade’s Community Newspapers Group.
Florida Continues War Against Giant Invasive African Land Snails
Florida Agriculture Commissioner Adam Putnam announced yesterday that the state has eradicated more than 141,000 of the snails, which can reach eight inches in length and live for up to nine years, but that an outbreak of another 2,000 snails in Miami-Dade County underscores the continuing threat. Lloyd Dunkelberger reports for the Sarasota Herald Tribune’s “HT Politics” blog.
Private Equity Firm HGGC Buys Into Florida Non-Standard Auto MGA Pearl Holding
HGGC, a middle market private equity firm, said it has completed a majority investment in Pearl Holding Group, a managing general agent focused on the non-standard auto insurance market in Florida, Insurance Journal reports.
Three on Palm Beach County commission reveal Uber sympathies
Several Palm Beach County commissioners on Tuesday showed support for the popular ride-sharing service Uber, but stopped short of calling for changes to the county’s vehicle-for-hire rules that administrators say would allow the company to legally operate here, Jennifer Sorentrue and Joe Capozzi report for the Palm Beach Post.
Regulators Take Another Shot at Pot Rule
State regulators have hurriedly released a revamped framework for Florida’s new medical-marijuana industry, making minor changes after a legislative panel shredded an earlier attempt. THE NEWS SERVICE OF FLORIDA’s Dara Kam reports via SunshineStateNews.com.
Broward judge cancels hearing on same-sex divorce
A South Florida judge who ruled the state’s ban on same-sex marriage is unconstitutional has cancelled a hearing on whether to grant a final divorce to a gay couple, the Associated Press reports via SaintPetersBlog.com.
Florida Senator John Thrasher one of four finalists for FSU president
After an interview that showcased his passion for Florida State University but also his lack of academic leadership credentials, Florida Senator John Thrasher was named one of four finalists to become the school’s next president, Tampa Bay Times’ Tia Mitchell reports.
Lawsuit alleges prison system ignored inmates abuse for years
The Florida Department of Corrections, Secretary Michael D. Crews, and Wexford Health Systems ignored the widespread torture and abuse that mentally ill inmates have suffered for years at Dade Correctional Institution, a civil lawsuit alleges. The Miami Herald’s Mary Ellen Klas reports for “The Buzz” blog.
Seven former Supreme Court Justices say they oppose medical marijuana amendment
An anti-drug group fighting Amendment 2 has elicited the backing of seven former state Supreme Court justices to oppose the effort to legalize medical marijuana. But a spokesman for a pro-amendment group countered that’s “what’s relevant is the majority opinion” of the current court, the Miami Herald’s Rochelle Koff reports.
Homeowners steamrolled as Florida courts clear foreclosure backlog
An initiative funded by mortgage fraud settlement was meant to help borrowers, Alison Fitzgerald reports for the Center for Public Integrity.
Key Florida senator backs “Money Course” legislation for 2015
The concept of a mandatory financial literacy course for Florida high school students is back, courtesy of Port Orange Senator Dorothy Hukill, SaintPetersBlog.com’s Peter Schorsch reports.
Fed to go easy on insurance companies
The Federal Reserve Board outlined for itself a very circumscribed role in regulating insurance companies. Specifically, it made clear that it doesn’t want to preempt the role of state insurance regulators in overseeing the traditional activities of insurance companies, National Underwriter’s Arthur Postal reports via PropertyCasualty360.com.
U.S. Supreme Court May Get “Disparate Impact” Housing Case
Over the past two years, civil rights advocates have managed to coax settlements in a pair of high-profile housing discrimination cases weeks before the court was set to hear oral arguments, Associated Press’ Sam Hananel reports via Insurance Journal.
Mississippi Supreme Court to Decide If Damages Cap Is Constitutional
The Mississippi Supreme Court is being asked to overturn a state judge’s ruling that a legislatively imposed cap on how much juries can award in non-economic damages is unconstitutional, Associated Press’ Jack Elliott Jr. reports via Insurance Journal.
Is There a House Republican Deal on Export-Import Bank, Terrorism Insurance?
Representative Jeb Hensarling, a Texas Republican who has been a key opponent of the U.S. Export-Import Bank, now supports a short-term extension of the bank’s mandate, opening the door to a temporary reprieve for the export lender, Reuters reports via Insurance Journal.
U.S. to Study Volatility of Fuel Transport
U.S. studies of oil train dangers may have underestimated the perils of volatile vapor on the tracks and officials will in future use precision instruments for more thorough tests, Reuters reports via Insurance Journal.
Best’s Reinsurance Industry Report Examines Relevancy of the Underwriting Cycle
A.M. Best has released its annual segment review of the global reinsurance industry, entitled “How Relevant Is The Underwriting Cycle?” The special report includes a ranking of the top 50 global reinsurance groups and geographic breakouts of reinsurance segments, Insurance Journal notes.
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