Capitol to Courthouse Headliners: Friday, Dec. 21

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Insurance commissioner denies Travelers’ rate request

A proposed 4.6 percent average statewide increase for homeowners insurance by The Travelers Companies Inc., was rejected late Friday by Florida’s insurance commissioner.

 

Crist and Sink want Milligan to lawyer up

Gov. Charlie Crist and CFO Alex Sink want State Board of Administration acting director Bob Milligan to hire outside legal counsel to examine the battered agencys investments.

 

State rejects demand to spread losses of run on investment pool

The state’s investment managers said no on Thursday to Hillsborough County’s demand that the state roll back the clock on the Local Government Investment Pool in order to spread the pain of $2 billion in securities that have questionable value.

 

Fla. investment fund picks raise eyebrows

As jitters over souring debt securities began to reverberate through Wall Street, the managers with the obscure state agency that handles investments kept buying.

 

Florida fund managers get incentive bonuses

Investment managers at the State Board of Administration have been awarded performance bonuses even though their decisions caused the state’s investment pool for local governments to flounder this year.

 

Attorney general sues to block expanded gambling at Seminole casinos until court rules

Attorney General Bill McCollum asked a federal court Thursday to block the U.S. Interior Department from approving the agreement between Gov. Charlie Crist and the Seminoles that gives the tribe Las Vegas-style gambling at its seven Florida casinos.

 

State program offers discounts on prescriptions to 4 million

Almost 4 million Floridians will be eligible for a discount on prescription drugs under a new program unveiled Thursday by Gov. Charlie Crist.

 

Delray to fight FEMA ruling it owes $495,000 for storm debris cleanup

City officials are appealing a recent Federal Emergency Management Agency decision that the city owes FEMA $495,000 for debris cleanup three years ago.

 

Letter to the Editor:  Let’s fight our real enemies

It is disturbing to hear the Democratic candidates for president vocalizing their disdain for the leaders of such American institutions as health care, oil and insurance companies.

 

Thirsty counties seek to tap rivers

Central Florida must find water outside the depleted aquifer

EUREKA – Roy “Robin” Lewis steps from a boat on the Ocklawaha River to a bankside marsh littered with fallen cypresses and hickories.

 

Health care changeover questioned

A planned changeover in the system that provides free or low-cost health care has Volusia County officials alarmed about possible holes that the most vulnerable people in West Volusia could fall through.

 

Two wanted in $3.4 million fraud scheme

A federal judge has signed arrest warrants for two individuals wanted in an insurance fraud scheme that netted $3.4 million in false claims.

 

Marsh & McLennan Begins CEO Search

Marsh & McLennan Cos. said Friday its board is ousting Chief Executive Michael G. Cherkasky and searching for a replacement in response to shareholder concerns over the insurance broker’s declining profit and share price.

 

Florida bonds affected by S&P downgrade of bond insurer ACA

Lack of confidence in a major bond insurer led to a ratings cut Wednesday for 17 bonds issued by Florida government agencies, which could mean higher borrowing costs for cities and other local governments already fearing budget cuts.

 

Insurer takes hit on debt disclosure

NEW YORK – MBIA Inc. fell the most since 1987 in trading after the world’s biggest bond insurer disclosed that it guarantees $8.1 billion of collateralized debt obligations that investors say have a greater chance of losses.