Capitol to Courthouse Headliners: Friday, April 25
Apr 25, 2008
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Hammered by the courts and threatened with a crackdown by Florida’s insurance commissioner, Allstate Corp. quietly offered the state millions to let the company off the hook and retract a pending order that would stop the insurance giant from selling new policies in Florida, state officials say.
EDITORIAL: Florida politburo adds to taxpayers’ risk, cost of homeowners insurance
‘F’-rated homeowners insurance program continues slide as lawmakers freeze rates again
If Floridians haven’t been crippled enough by the effects of the subprime mortgage fiasco, overbuilding and the rest of the nation’s economic doldrums, just wait and see what will happen if a hurricane or two hits this year.
Botched investments broke federal rules
The State Board of Administration did not have the proper federal credentials to purchase nearly one of every three securities analyzed in an audit obtained Thursday by The Palm Beach Post.
Florida auto insurance hikes far outpace nation
Auto insurance rates in Florida have climbed nearly 50 percent faster than the national average, according to a new study.
Voters will have say on tax cut in November
Florida voters will decide in November whether to cut property taxes by about 25 percent through a dramatic shift in the way schools are funded.
25 percent toll hike sought on turnpike
Drivers who use Florida’s Turnpike soon may have to fork over a lot more money in tolls.
Face-off nears on commuter rail
Dueling bills, weighed down with extraneous measures, face an uncertain future.
A wide-ranging transportation package that includes an agreement with CSX Corp. to buy 61 miles of right of way for Central Florida commuter rail is poised for a pivotal vote today in the state House.
Florida House to consider law on renter penalties today
Florida renters could face new penalties equal to two months’ rent for breaking leases under a proposal nearing final legislative approval, but supporters have added extra consumer protections in a bid to win Gov. Charlie Crist’s support.
Bill to outlaw human smuggling heads to Florida House
Measure would make it a state crime
Because Florida has no state statute outlawing human smuggling, Martin County Sheriff’s Officials had to release a suspected smuggler early last summer, officials there said.
Senate Passes DNA Testing Bill
People learning through genetic testing that they might be susceptible to devastating diseases wouldn’t also have to worry about losing their jobs or their health insurance under anti-discrimination legislation the Senate passed Thursday.
Industry Reps Say Insurers’ Cat Model Savvy Improves
Reacting to an expert’s negative comments about insurance companies’ use of catastrophe models, industry representatives said carriers have improved their use and understanding of models since Hurricane Katrina.
Allstate Quarterly Net Income Declines 77 Percent
Allstate Corp. announced a 77 percent drop in net income for the first quarter of 2008 compared to 2007, attributing the decline mostly to high catastrophe losses.
Calif. judge refuses to block Allstate rate reduction
A San Francisco judge has refused to block a state-ordered, 15.9 percent reduction in Allstate’s auto insurance rates.
CFA Report Points To Benefits Of Increased State Regulation
Consumers fare better under state regulatory systems requiring prior approval of insurers’ rates than systems with fewer regulatory controls, according a national study released today by the Consumer Federation of America (CFA).
Dinallo: Work On Bond Insurers Has Calmed Market
New York Insurance Superintendent Eric Dinallo said today that stock market reaction to the $1.66 billion quarterly loss reported by Ambac Financial Group Inc. yesterday showed that the furor over bond insurer stability has subsided.
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